Where will I find a buyer for my business?
Where will I find a buyer for my business?
30 years ago when you wanted to sell a business you were reliant on a business broker who had a big list of potential buyers who he would then contact to see if they were interested in your business. But even with a large database the broker was really only scratching the surface and would then advertise in commercial newspapers and magazines.
This was a slow process and did not yield all that great a response. If you sold your business you were lucky.
30 years on and the world has changed. Has the broker community changed with it? Many brokers will still try to convince you to advertise in their magazine or across their website, where as the majority of buyers are looking online and on the major business for sale websites to find the business they want. Websites like Seekbusiness, Commercial Real Estate and more.
The 8 most popular, and our own site, are listed below;
businessandfranchisesales.com.au
These sites all cost money to advertise with and advertising across all is cost restrictive to individual sellers. For six months coverage you will pay around $5,000 per advertisement. Hence many brokers do not want to tell you where they advertise, or try to get you to believe "they have a buyer" waiting.
To cover the market and find your buyer you need to;
- be advertised with a well written advert at the right price across these 8 sites.
- respond to all enquiries quickly,
- get all potential buyers to sign a Confidentiality Agreement,
- send them a summary of your business, known as a business profile
- follow-up with them on a regular basis.
- sort out the interested from the tyre kickers
- answer questions and encourage them to visit the business
- encourage an offer and get both parties to agree on a deal.
Luckily you can receive our full sale service from just $5,490+GST.
