SELLING

Whether to sell or not can be one of the hardest decisions you’ll ever make.

The main issues facing the business SELLER are:

• SELLING PRICE
  How much will you receive for your business? We will carry out research for you of similar types of business that have sold and apply this to your business to guide you on determining a price. Also your accountant may be able to provide good statistics to base a price on. In particular some types of business are valued on set industry type formulae.
  
  The price should be realistic yet appropriate to attract a willing buyer.
• HOW LONG WILL IT TAKE TO SELL
  This is a very difficult question to answer, some sell straight away others take months. On average a business may take 6-9 months to attract a buyer, but the sale will depend on the complications and particulars of that individual transaction. One thing is for sure FB4B will be doing are best to get your business out there to would be buyers and brokers representing buyers. Remember we don’t get paid if we don’t sell your business!
• CONFIDENTIALITY
  We always insist before even disclosing a business name to either a potential buyer or Broker that they sign a binding confidentiality agreement. All Florida business brokers know and understand this as the correct and proper practice to protect seller interests.
• LONG TERM CONTRACTS, LEASES AND SUCH…
  Buyers understand that businesses have ongoing business contracts, leases and finance arrangements. Some or all may be art of the transaction and pass to the buyer. Where such contracts exist, you should seek preliminary information and confirmation of how (and if) they can transfer to a new owner. This should be done before listing as , for example, a long term non transferable lease may stop a sale before it ever gets started!
• OWNER BENEFITS/TRUE PROFITS
  Many business owners benefit from paying certain expenses and “perks’ of ownership thru the business. When valuing your business we analyze what is the TRUE OWNER BENEFIT? Since this is what will determine the value and attractiveness to the buyer. The buyer will want confirmation that the business can support the owner benefit you say it can, since this will be their new standard of living.
• SELLING COMMISSION
  We only get paid if we close a sale of your business, so we are motivated !! Se our section on fees. Remember we usually share the commission with a co-operating Broker.
• BUSINESS RECEIVABLES/PAYABLES
  Usually all monies due to the outgoing owner will be withdrawn and paid to them. Likewise any debts relating to the previous owners will need to be settled, unless it is part of the contract that the new owner take up the liability.
• BOOKS & RECORDS
  As seller you should be willing and readily able to produce comprehensive and accurate accounting records. The buyer needs to “feel good” about the records that they are truthful and not hiding anything.
  Please remember the buyers are making a significant investment so have every right to ask you searching questions. In particular tax returns, annual accounts, cashbooks and bank statements are certainties to be requested.
• GEARING UP FOR SALE
  If you are considering a sale you must talk to us sooner rather than later. Most businesses need adjustments in how they are run and operated to make them saleable. Plan now to achieve the best results.