When you own a business you own a job, when you sell your busines you recieve your return on your investment.
Choosing to sell is a bold step for may business owners who have formed a strong personal identity associated with their busines over many years and it is sometimes hard for business owners to imagine what life without their business would be like. But, unfortunately such is life, the clock does not stop, things change and new opportunities present themselves.
The good news for business owners is that JL business Sales is here to help support you through this process and ensure your best outcomes are achieved and your legacy is preserved in the process.
Each business is different and each business owners desires are different so we use a tried and true proven 5 step process and add layers of needed customisation to these to dilver a tailored sale process for each client.
The Business Appraisal completed here in step 1 details the current expected sale price range for the business or expected Fair Market Value using Comparative Market Analysis. Providing this in basic version fulfills our legal obligation to provide in writing the reasoning for our expectations of sale price under rule 10 of the REA 08 Rules prior to signing Agency Agreements with our clients.
We use the client’s information for this as well as any known information relating to the market. The output is only as good as the information available so we ask our clients to tell us everything, the good, the bad and the ugly.
It’s hard to decide to sell something if you have no idea what it is worth, so get in contact now and we’ll help you to figure it out.
In this step, we offer three various different Presentation Packages for Business Owners to choose from in order to present their Businesses to the Market professionally. These three packages will vary in quality and detail and have varying costs. The old saying is, “what you put in, is what you get out”. You only have three chances to make money in Business; when you buy the Business, when you run the Business and when you sell the business, make sure you make the most of the last one by investing into the Presentation of it for Sale. The return on this investment in the Businesses presentation could be tens if not hundreds of thousands of dollars. How much do you spend on Marketing within your business just to get a sale from a customer? Isn’t the Outright Sale of the entire Business worth putting some marketing into? No brainer.
In this step the value has been established, the sale process defined and the Presentation Package selected, so it is now time to enter all of the info from the first three steps into a legal Authority to Act form as per legal requirements under REA. JL Business Sales then takes over as the Broker/Agent and lists the Business for sale confidentially and completes the necessary Anti Money Laundering documentation processes (Check Resources Tab to learn more about AML). JL Business Sales will gather all available Business Information from the Vendor/Client in order to create digital and hard copy Sale Collateral relating to the Business, which is to be used in conversations with prospective Buyers/Investors from within the market who have signed the Non-Disclosure Agreement we provide and who have presented themselves as having both genuine interest and the financial capacity and skill set required to run the business. Your Business is safe with us. Any additional requests to add other layers of security can be discussed, talk to us and let us know how we can make it work for your Business.
In this step we take the stressful, emotional and risky work away from the client, by qualifying buyers who have shown interest in the business in response to the advertising and marketing campaign. We ensure buyers are both qualified to complete the aquistion and genuinely interested in the aquisition. We ensure all interested parties agree the terms of confidentiality, have their identity verified, and the broker will work to qualify their work background and financial position and facilitate the confidential information exchange to those who meet the criteria. The Agent will also follow up, provide further information, arrange access if appropriate and negotiate sale terms with any potential buyers. This can be time consuming work and with the associated risks and pit-falls it is best left to an expert who knows how to qualify and manage this part of the sale process. This also allows the business owner to focus their time and energy on the income-producing activity of running their business.
Step 5 is the last step we will take with the Client selling, the hard work in presenting and negotiating the Business with the Buyers has been done and we will have received a Signed Sale Offer for the Business or Company Shares. Once the offer to Purchase has been accepted by the Vendor/Business Owner, the Buyer’s Due Diligence Period begins (typically 10-15 working days). As this is the Buyer’s opportunity to ensure everything with the business meets their conditions of the Sale Agreement and validates and checks the Vendor information presented through the Sale Process, we advise both Buyer and Seller to take Legal and Tax advice and ensure they fully understand the details or potential risks and are fully satisfied before closing the deal . At this step, we take the Purchaser’s Deposit and then step back and simply facilitate the communication and timeliness aspects of the Due Diligence process ensuring both parties have direct access to each other and we help maintain order in the process. We do not directly or indirectly run due diligence on behalf of either party and this needs to be conducted by the parties themselves in conjunction with their own independent third-party advisors such as Solicitors and Accountants.