Realistic Market Price
“How much can I sell my business for?” This is every seller’s first question! It is understood that every seller wishes to sell their business at a high price. No matter what the accountant advises your business is worth, it is very important to set the price right at the very beginning , so that you can sell your business within a set timeframe.
What documentation do I need to provide when I am selling my business?
The more supporting documents you have, the more trust and interest you will gain from prospective buyers. You need to prepare the following documents about your business:
1. Two years Profit and Loss Statement;
2. BAS Statements for the last four quarters;
3. A Lease and any lease related documents;
4. A copy of Equipment and Plant List;
5. A copy of Franchise Agreement, if applicable;
As sellers, it’s valuable to provide information to prospective buyer such as;
1. How much money is required to buy the business?
2. How much working capital a buyer needs to prepare?
3. What can be done to grow the business.
4. If the Seller is willing to train and stay in for a specified period to support the prospective buyers.