Preparing For Sale

There is no better strategy than to prepare early and thoroughly! Put yourself in the shoes of prospective purchasers and critically evaluate how you can present your business in the best possible light. The end goal is a sale, at the best possible price.

Remember, first impressions do count!

Highlight the positives and downplay the negatives

Look around with fresh eyes. There can be several steps that you can take to makethat first impression count. You never get a second chance to make a good first impression.
Small improvements can make a big difference to the overall appeal. Touch up chipped paint, replace blown light globes, or, if needed, paint that wall or entryway.
Declutter, ensure the business is clean and tidy and the manager’s office is spotless without any unnecessary documents and dusty ornaments.
Attend to garden works. It can be worth the investment of having a gardener come in to prune and tidy Liken this to the importance of curb appeal when selling a home.
Tidy up your stock. Sell off any obsolete or slow-moving stock items. This will improve both your sales and gross profit.
Clean up your plant and equipment. Sell off any scrap, redundant or obsolete machinery and parts that create clutter.

A systematic approach

Do you have documented policies and procedures? Purchasers want to buy a business that is well run and with secure, well-trained staff.

Prepare that paperwork

Having your financial and business records ready and available from the beginning is critical.

Financial records are required for the appraisal process and will be required by prospective purchasers. Have your accountant prepare a special purpose profit & loss statement, specifically prepared for the sale of the business. We strongly recommend that you have at least 3 or 4 years of profit and loss statements in readiness for selling.

Ensure all business and licencing documents are ready and current. There is no point in getting down the path to selling, only to be stopped at the final hurdle hunting around for expected documents or finding they are out of date.

Here’s a quick checklist of the items you should get together:

Three years’ Trading and Profit & Loss Statements, Tax returns & Depreciation Schedules
Three years’ BAS statements
List of all plant and equipment
The premises lease and lease-related documents
Copies of equipment leases (if any)
Copy of any franchise or licence agreements
An approximate amount of inventory (stock) on hand

How good is your lease?

If you are a leasehold business, how long do you have left on your lease? If there are no option periods left it would be prudent to start negotiations with the landlord for an extension.

Any purchaser will require security of tenure.

Build a strong support team

A strong support team can help you successfully develop your exit strategy. Your account,solicitor and broker are all there to help. You will be amazed at the value industry-trained specialists can provide.

BUYER REGISTRATION AND CONFIDENTIALITY AGREEMENT

To receive details on the selected business, please complete the Confidentiality Agreement below, and your broker will contact you shortly. Note: all information marked with * is required. Please complete this form in FULL. Our vendors request that all this information be completed in full so that we may as certain your ability to proceed to a settlement without complication.

First Name(Required)
Last Name(Required)
Email(Required)
Phone(Required)
Address
Street Address City State / Province / Region Post Code Country
I am Interested in the following business(Required)
Total dollars available for investment $(Required)
Confidentiality Agreement
- All information supplied to us by you is my/our responsibility to verify and confirm. I/we agree not to hold CBB or its salespersons responsible for its accuracy or any loss suffered by me/us in relation to the information contained in any Business Profile/Information Memorandum.
- I/We agree that the Business Profile / Information Memorandum supplied is confidential, and I/we agree not to disclose them to any other person except our legal, accounting or financial advisors and bankers.
- I/We agree NOT TO CONTACT the sellers or any of their employees at any time before settlement without express permission from CBB.
- I/We agree that all inspections of the business are to be by appointment, approved and organised through CBB only.
- I/We understand that CBB Business relay information of any business provided by the seller in their capacity as a representative of the seller.
- I/We understand that CBB does NOT investigate the truth or accuracy of any information supplied, conduct a due diligence process about it, or make professional or other judgement about the materials provided by any seller.
- I/We agree and acknowledge that CBB may have an agreement or be working in conjunction with another agent/broker who has such an agreement.
- I/We agree to respect the privacy of the seller and agree to either return or destroy all material related to any businesses if I/we do not proceed with the purchase.
- I/We acknowledge that I/we have read and understood the above conditions and agree to be bound by them.