Over the past 3 years we have seen a huge increase in private business for sale advertising. With over 200,000 businesses for sale online in Australia, more people are buying businesses than ever before.
With over 1 million searches online every month for businesses for sale, and with the wide variety of industries to choose from, business owners are having phenomenal results with their private business for sale listings.
Stay Ahead of the Game
Selling your business might be the next move to stay ahead of the game. If you own your own business, there are a variety of reasons why you might want to sell it. Your business may not be profitable for one reason or might not be performing to your expectations.
Your business might be profitable, but has arrived at a point where it requires an extra infusion of capital or an extra investment of time to fully develop.
Reasons Why People Sell
As the business owner, you may be experiencing any one of a variety of significant life events that would cause you to consider selling your business. Your interest in your current business may have waned and you are interested in pursuing new ventures. Or you might just want to retire.
Don’t Get Left Behind
Long gone are the days when people used to flood the local newspaper classifieds with their advertisements. Sitting on the phone for 30 minutes trying to place an ad was frustrating to say the least. These days, simply jump online and upload your listing instantly.
Convenience and Fast Results
This type of advertising suits today’s business buyers. Being able to view a listing instantly including pictures, price, location and any other important information will save any business buyer time and money (travel expenses).
Being able to research all of the above information from the comfort of their own home has really aided in the sale of thousands of business.
With over 90% of all businesses for sale in Australia now advertised online, most potential business buyers have already made their mind up on which business they wish to purchase prior to arranging a meeting with the owner.
Sell Your Business Privately
More recently, selling a business privately online is another popular trend. With broker fees and commission ranging between 5% and 15%, more people are choosing to sell a business privately.
If you don’t have the time to sell your business privately, brokers do a great job. They have databases of people ready and waiting to purchase a business, but 5% to 15% of your final sale price can be quite a large number and if you would like to try and avoid having to pay these commissions, then advertise your business privately and see how you go.
Use a Business Broker as a Last Resort
Quite often when a business owner puts the sale of their business in the hands of a broker, they try to compensate the commission fees into the selling price. This usually results in the overpricing of your business, which will generate little interest and see your business sit on the market without selling.
Another downside is when an interested buyer asks you to justify the selling price and when the numbers don’t add up, the buyer will lose trust in you and walk away.
So if you have the time and would like to avoid these problems, simply advertise your business privately on business for sale websites and manage the sale of your own business, saving thousands of dollars at the same time. After all, who knows more about the business than you do?
Author: Andy White
Andy White holds a Masters of Business Management and after a career as an Officer in the Australian Army, worked as a Business Consultant and now operates his own successful Real Estate business on the Queensland coast.