Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


What's the best way to advertise a business for sale?

I have a business for sale, what's the best way to advertise it?


“Listing your business for sale online should be a key part of your exit strategy,” says Richard O'Brien director of Business for Sale website nzbizbuysell.co.nz

“It’s not always possible, but it’s a good idea to start thinking about the sale of your business long before the day arrives. Poorly prepared and priced businesses are harder to sell and in some cases won’t sell at all. It also pays to make sure you are ready to sell and for the transition. We’ve had businesses listed that are subsequently withdrawn due to the vendor having a change of heart; concerned they won’t be mixing with their peers, won’t have anything to do, or cannot afford their lifestyle once they have sold”.

Being Business-Sale-Ready well before you go to market will ensure you are in your best position to sell and maximize the value of your business.

The more you prepared you are, the more successful the outcome is likely to be:


Ensure your business is attractive to buyers. Does it have a good history of profitability, a large and loyal customer base, a competitive advantage (long-term contracts, intellectual property rights, exclusive distributorships)? Does it have a skilled work force, a desirable location and opportunities for future growth?

Are You Ready to Sell? Are you are ready to part with your business, both financially and emotionally? Consider what will you do with your time, for income and for personal contacts once you have sold and moved on. Many business owners suffer a loss of purpose after handing over their business to the new owner.

Decide if you will use a Business Broker. It’s a good idea to visit several reputable Business Brokers to find your best match. Select a broker who understands the market and your industry, and knows how to reach the potential buyers of your business. Ask about their database, how much and where will they allocate their marketing budget for your business, and which internet sites they will use. As with any professional, check out their history and reputation. It is also good idea to ask the broker about recent sales and for the names of some clients you can contact.

Target your Advertising. Two or three misplaced ads in poorly targeted or low traffic mediums won’t cut it. Invest well, as you want to attract genuine quality buyers. Businesses can take time to sell - influencing factors include price, type, ease of finance, market conditions and your marketing efforts. It pays to promote your opportunity wisely and widely.

Listing on websites; whether you sell privately or use a Business Broker, there are a number of websites that list businesses for sale; this is the new form of classifieds that connects business buyers with sellers. These websites act as a marketplace where potential buyers can search, review, watch and contact sellers or Brokers if they are interested in buying a business. Some offer just a few listings, others a huge range of opportunities, along with directories and resources to assist and educate business buyers and sellers with the process.

As a Seller it pays to list with a website that:

* Attracts genuine Buyers not just Browsers.

* Is well established and well recognized.

* Offers value and exposure to a wide and interested audience.

* Specialises in just business listings and attracts quality traffic.

* Is easy to use and has comprehensive tools and information to help.


Selling your business is one of the most important things you'll do – this is your chance to capitalize on possibly years of effort. With some careful planning and a little help from professionals, you will be well on the way towards striking a deal that's right for you.

For more information on how to sell a business and choosing a Business Broker check out www.nzbizbuysell.co.nz


ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news