SELL YOUR BUSINESS HOW TO
SELL YOUR BUSINESS PLUS

If you’re selling your business independently, your lawyer can source other useful documents such as a letter of intent (to help protect your information when sharing details with interested buyers), a non-disclosure agreement (NDA) and confidentiality agreements. Finding professionals to trust is critical, as they’ll help guide you through the sales process. Whether you choose to sell independently or with a broker, you’ll need to consult a lawyer and your accountant to help get your business in order.

Interview and vet any potential brokers, just as you would any other employee your business might hire. Find out how long they’ve been in the industry, if they’ve sold businesses like yours before.

SELL YOUR BUSINESS PLUS

Like real-estate agents, some brokers expect an initial fee, plus commission of around 10% once your business is sold.īefore you commit, do your research to understand their processes, fees and measures for success. The role of a business broker is to act as your representative to help you get the best price for your business while making the process as stress-free as possible. Selling a business with a business broker To sell your business independently you’ll need to get your business documents in order, advertise your business for sale, manage interested buyer enquiries and arrange the final sales paperwork with your lawyer and accountant. The more organised you are, the less impact the sales process will have on the day-to-day running of your business. If you decide to go it alone, you’ll avoid paying potentially hefty broker commissions, but be prepared to invest your own time and energy into the sales process. It’s never been simpler to sell a business on your own. The best choice for you will depend on your resources and financial situation. If you feel it’s the right time to sell, your next biggest decision will be whether to use a business broker, or to do it yourself. Before you consider the “how”, think about the “why”. Make sure selling is the best move for you, and your business. Whether you’re planning to retire, looking to relocate, ready to try something new, or faced with other circumstances (like ill health) take some time to mentally prepare. What do you want to get out of selling? Is your business ready? Are you ready? How will you cope if your business does (or doesn’t) sell? Are you prepared for the next step? Putting up a ‘for sale’ sign can be taxing, so think about your endgame before making any decisions. It can often feel like you’re selling a little part of yourself. Selling a business isn’t just about financials. Selling your business yourself vs using a business broker

SELL YOUR BUSINESS HOW TO

How to tell if you’re ready to sell your businessĢ. To help make sense of it all, here’s everything you need to know about how to sell a business.ġ. Selling your business can be complicated, confusing and often quite emotional.

Sell your business