Frequently Asked Questions

Will  accurate records and documentation increase the number of  potential buyers?
Absolutely! Buyers want proof of the sales and profits that  your business has generated in the past, in order to get  some idea of its potential.

How  important is pricing when selling a business?
You must definitely price it right. Under-pricing will lose  you money; over-pricing will lose you the sale. We are knowledgeable  in today’s market and can assist you with this all-important  facet of listing your business for sale.

How  can I make my listing more attractive?
List all furniture, fixtures and equipment. Buyers will  want a complete list of equipment and will inspect it to  ensure that everything is in good working order.

What  else can I do to improve the chances of selling my listing?
Obtain  a professional third party evaluation or appraisal. Those  that use a third party evaluation have an 80% chance of  not only selling the business, but selling  at a much higher price. Those who do not use a professional  business broker and a third party evaluation only  have a 17% chance of selling.

Is  leasing a viable option?
A  number of buyers would rather buy the business and lease  the property as long as there is an attractive lease. Any  buyer will want a good lease, whether the existing lease  is assigned or a new lease is written.

Is  appearance as important as other factors in the sale?
Appearance  can make or break a real estate sale. You  should try to create a great appearance. Nice looking businesses  sell first! Buyers deduct large amounts from their offering  price for businesses that are in less than top shape. You  should keep your premises neat, clean and in good repair.

What  else might the buyer be concerned about?
The  buyer will in most cases require that you sign a non-compete  covenant agreeing not to compete with the business being  sold. Buyers are sometimes concerned that you may decide  to go into competition with them and take back all their  customers. A promise not to compete within an appropriate  distance and time period is normal for most business sales.

Is  there anything else I should know or concern myself with  when selling?

  • Yes,  two final points to give some thought to:

Be  prepared with a good reason to sell the property. Buyers  are always concerned about this. They may wonder if  you are selling because of some undisclosed fact or  problem that may hurt the business in the future. Buyers  must see a logical reason for the business sale.  Without it, they may think the worst.
And  finally, NO SURPRISES! Give us ALL the facts  up front. Most negatives can be overcome if known by  the business broker from the beginning.

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