#1 Business Broker in Ontario
over 1637 businesses listed & sold
Specializing in franchises, small business,
investment & income properties
Selling Your Business
Selling of your business can be a very complex process. It involves much more than just placing an ad in a newspaper. Thus, you should rely on trained professionals in the sale of businesses. Someone familiar with the selling process will prove to be an invaluable asset. Consider reading through the following sections if you are planning to sell your business. Then call us if you require further expert opinion.
We assist you in preparing all required documents and relevant business listing information. We'll guide you and support you in presenting the information in the best possible format.
The business should be priced correctly to attract potential buyers.
A complete list of assets is required. All equipment should be in working order and acceptable to the buyer.
A good lease is essential to the sale of your business. This must be pre-arranged so there are no problems as the transaction progresses.
You may require to train the new owner and possibly some of the new staff.
Your business environment needs to be kept neat, clean and organized.
You must be prepared to sign a non-compete covenant or contract.
Because time is of the essence, it is crucial that you place yourself in a position to respond to an offer as quickly as possible.
Placing an appropriate value on your business.
A business has value to a buyer because of its anticipated earnings from its established resources and a demonstrated successful track record. Thus it is crucial to evaluate the business properly in order to increase your selling opportunities.
Presenting your business to potential buyers
Potential buyers will want information about your customer base, competition, and financial history. This information must be provided in a professional and salable manner to ensure your confidentiality. Your financials must also be reconstructed to show your business in the proper light.
Confidentiality is vital to the selling of a business. If employees know that you are selling and changes are coming, they may seek other opportunities. Competitors may use this information as a selling tool. Vendors may not continue to extend favorable terms.
Secure qualified buyers
Knowing how to qualify a buyer is critical. We pre-screen all buyers to filter out curious individuals. This will reduce the times that need to be spent on misdirected efforts.
Structuring a deal.
Sellers usually have limited knowledge of available alternatives for structuring the deal. Therefore, in many cases it will result in conducting the deal in a costly manner. Items such as leases, royalties, non-compete contracts can be presented as added value to your buyers.
Progressing and closing the deal
You need someone who will work on the deal everyday to make sure that the buyer will close the deal during the specified time.