Videos – Selling Your Business
Ready to sell your business but not sure where to start? This short video will offer some tips to follow as you move through the steps to successfully sell your business.
The Golden Rule of Selling a Business
The golden rule to follow when selling your business is to put your feet in the shoes of the other party. As the seller, you know and understand the history and performance of the business. A buyer comes with a blank slate and needs to fully understand all the moving parts to feel comfortable this is the business that’s right for them.
What to know when selling a business.
If your goal is to truly sell your business, there are many steps to increase your chances of success. Steps including having accurate financial statements, a lease in place that will work for the buyer, a clear understanding of what is for sale and more.
The importance of seller finance when selling a business.
Seller finance requires the business owner being paid part of the purchase price over a 3 to 5 year period. Benefits to the seller include tax consequences as the seller only pays tax as the money is received and giving the buyer the confidence in the operation of the sellers business.
Why does a business not sell?
It’s a known fact that about 80% of businesses fail in their first two years. Equally, its a known fact that only 20% to 25% of businesses sold when they go on the market. This short video looks at reasons a business does not sell.
What types of buyer want to buy a business?
There are different types of buyer that may have an interest in buying a business you have for sale. This includes a buyer that wishes to buy themselves a job, a buyer that wants to add your business as it has synergies with a business they already own, a financial buyer that wants to earn a Return On their Investment and more.
Where do I start when selling a business?
As you move through the many steps to successfully sell a business, realize the decisions each buyers make is not personal. They bring a mix of anxiety, lack of knowledge about your specific business and the culture in your business and more. This short video explains there are different types of business buyer with different motivations.