Why use the services of a Business Broker?
Business Brokers act as intermediaries between two parties in order to facilitate a business transfer. This process sounds relatively simple however, it is a veritable mine field for inexperienced sellers. Therefore, it is highly recommended that this process is handled by a licensed Business Broker with a sound knowledge of the process. Where leases, stock, licenses, contracts, agreements and training is involved, an experienced Business Broker will ensure ALL bases are covered. Furthermore, a Foresight Business Broker will aim to:
Price – seek the highest possible price;
Confidentiality – maintain the confidentiality to ensure information is kept private;
Qualification – ensure buyers having suitable experience and financial capability;
Marketing – provide you with cost effective marketing solution;
Negotiation – bridge the differences between the parties;
Conflict – remove any potential for personality conflict between the parties; and
Liaising – deal with accountants, landlords and legal advisors involved in the sale.
Why use Foresight Business Sales?
We are focused on delivering more than just a timely sale. Our goal is to provide a streamlined exit strategy for our clients that meets all objectives. That is why we only handle a select number of clients at any one time, so we can discover, develop and deploy an exit strategy that yields results. We work closely with other brokers and business agents to increase your chances of selling and we also provide timely feedback on any significant developments. Our track record speaks for itself as we log all historical sales and testimonials from our satisfied vendors.
How long will it take to sell?
This question depends on many external variables such as supply & demand factors, consumer confidence, interest rates, etc and we don’t have control over these. What we do have control over are the internal variable such as marketing strategy, presentation and price so we do the best job we possibly can on these. That said, most businesses sell within 2 to 12 months. It is important to note that this time frame is an approximate guide only. Most likely, your sale will fall somewhere in between if your business is saleable. The time taken can be reduced if the seller is prepared to implement an effective marketing plan because it will yield greater enquiry. After all, buyers need to know about your listing .
What do you charge?
We charge a commission (payable at settlement) that is a percentage of the total sale amount and usually inclusive of stock, plus GST. Whilst the commission varies from business to business, it is usually determined by (i) the scale of the transaction (ii) the estimated time and resources required to sell and (iii) the anticipated level of demand.
Are there any marketing costs?
Typically yes. But they are always kept to a minimum and should not deter you from listing. We also make the seller fully aware of marketing costs up front and make every effort to tailor a cost effective marketing plan to suit every budget.
How we target buyers?
We employ buyer profiling techniques to identify target buyer clusters for you business. This strategy allows us to identify and qualify the ‘right buyer’ in a shorter period of time. Foresight Business Sales targets pre-registered buyers through our unique Customer Relationship Management (CRM) database. Our main stream methods of reaching target buyers include:
Electronic Media – Provides exposure on the most prominent national business sales website;
Direct Marketing – We contact buyers directly who have registered with us previously;
Referral – We leverage existing contacts to provide you with greater exposure.
We would love to hear from you!
If we didn't answer all of your questions, feel free to drop us a line anytime.