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Selling a business
is one of life's true challenges. Meeting the
market is a fine sentiment but what is the
market for a particular business and who can you
rely on to give you honest advice? If there is a
'challenge' it has to be to decide whether to
sell your business yourself or to select a
broker to help you. Naturally, there are pros
and cons to both sides of this dilemma. |
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Selling by yourself
invariably proves difficult for most people. You
will need to blend the skills of an accountant,
valuer, advertising executive, salesperson,
networker, confidentiality agent, hardnosed
negotiator, great closer, lawyer while still
running your business. Bear in mind it takes an
average of around six months for a business to
sell, so you'll also need patience and the
ability to stay emotionally detached from the
sale of your business. RealCorp Vic Pty. Ltd.
has the resources and national experience to
deliver the range of skills necessary to
complete your sale. |
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What are these
resources and skills? |
1. Proper evaluation
to establish a sale price. This requires
extensive experience with all types of
businesses.
2. Establish Capital Gains Tax eligibility. How
easy is it to understand the Tax Act?.
3. Evaluate plant and equipment, stock at value,
fixtures and fittings plus goodwill to set fair
market value. You will need to be careful here,
as this could affect any tax outcomes.
4. Establish the best possible marketing
exposure and budget. With technology changing so
rapidly it's also worthwhile to explore new and
modern avenues to maximise the exposure of your
business. |
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This all comes
under the broad heading of marketing... but the
golden rule of... if you don't tell, You don't
sell... certainly applies. |
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Step-by-step guide
to selling a business |
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1 |
Seller contacts
RealCorp Vic
Seller contacts RealCorp Vic to schedule
meeting. |
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2 |
Independent
appraisal
An independent business appraisal completed for
prospective sellers business. |
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3 |
Determine asking
price
Seller and Realcorp Vic determine asking price
and terms of business. |
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4 |
Business profile
Realcorp Vic creates Confidential Business
profile for prospective buyers. |
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5 |
Confidential
agreement
Importance of Confidential Agreement RealCorp
Vic requires each buyer to sign a Confidential
Agreement to ensure the sale of the business is
kept confidential. |
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6 |
Advertising business
RealCorp Vic places Adds in newspaper, trade
publications and over 10 international and
national web-sites. |
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7 |
Marketing for
success
The seller and RealCorp Vic meet to determine a
marketing campaign for direct mail solicitation
and direct e-brochures to large database of
prospective purchasers. |
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8 |
Qualifying buyers
RealCorp Vic qualifies any potential buyer based
on financial status and personal experience. |
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9 |
Seller and Buyer
meet
If the buyer is interested in the Business after
reviewing brief profile, the broker will set up
a Buyer and Seller meeting. Will discuss the
operation of the business and tour facilities. |
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10 |
Offer proposed and
assessed
RealCorp Vic will encourage buyer to make offer
to purchase business. |
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11 |
Settlement date set
Once the buyer and seller agree on price and
terms of a contract a settlement date is set. |
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12 |
Legal documents
prepared
Both parties have lawyers prepare documentation
for settlement. |
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13 |
Business is
successfully sold
Buyer assumes ownership of business. |
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To
take the next step, simply
contact us. A
consultant will contact you to make a personal
appointment and discuss your requirements. |
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Testimonial from Mr & Mrs Curran, "We were extremely happy with the service provided by you and your firm. The property was sold in less than three weeks and we achieved a very satisfactory price. This is particularly gratifying, given the number of comparative properties on the market in St Kilda. Your advertising methods have proven their worth and we would have no hesitation in recommending your company to any prospective vendor." |
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