Sellers Tips

Our selling tips                                     

The most important advice we can give is this - do it properly.

Hardly a day goes by without us getting a call from a franchisee that has tried to sell their business using one of these methods;-

1. Tried to sell it themselves and save paying a broker
2. Asked the franchisor to sell it for them
3. Chose a general business broker with cheap fees

These are all options but they usually fail and in the end it can cost you a fortune.

The business could have been on the market for many months and sometimes years.  Buyers know this and your negotiating position is out the window.  Buyers will question "What's wrong with it?", "Why would I pay anywhere near the asking price when no-one else wants it?".

Here are some tips to help you along.

• Have us prepare a custom-made Business Profile document for your potential buyers.
• Advertise heavily, especially for the first three months, but don't waste money.
• Presentation is critical - your business, your documentation, and your staff.
• While your business is on the market, keep the sales growing - not declining.
• Choose a specialist franchise broker to sell your business - you'll only sell once.
• Maintain a strong and positive relationship with your franchisor.
• Support your franchise broker in any way you can to help them get the result you desire.
• Only tell your staff about the sale when you are about to launch your advertising campaign.
• Ask your accountant what value is best placed on your plant & equipment in the breakdown of the sale price compared to goodwill.
• Get a professional appraisal and price your business correctly or the banks won't lend to your buyer and the deal will fall over.