As the Australian economy continues to emerge from the shadow of the mining boom and people are looking for new, exciting avenues for investment, the idea of selling your business may have wormed its way into your mind. There could be a good reason for that, as acquisition has indeed found itself on the agenda for a number of organisations in the region.
According to research published by Ernst & Young in November 2015, 53 per cent of Australasian companies are intending to make new acquisitions in the next 12 months, a 9 per cent increase on the previous survey. The Reserve Bank of Australia's forecast of improving GDP across 2016 could mean more small businesses and start-ups find themselves on the shopping lists of bigger corporates.
Making your business more attractive to buyers
We often hear about improving our home values through renovations, making improvements to various features to attract a higher sale price if and when you decide to sell. Is it possible to take this same approach in preparation for selling your small business?
In essence, it all depends on your business location. If you operate out of your home, for example, a physical location probably isn't included in the sale. However, if you have a cafe for sale in Sydney, giving it a spruce up can certainly help to make an impression on potential buyers.
Giving your business a spruce up can certainly help to make an impression on potential buyers.
As you may have seen from the dozens of home renovation shows on TV, making a bigger impact doesn't have to cost you a lot. Adding a few splashes of paint, some tasteful artwork on the wall, even simply doing a thorough deep clean inside and out can give your premises a new sheen that can bump your sale price up a few notches.
Seek help from a business broker
If you time it right and get lucky, selling a small business can sometimes be a very rapid process. To make things happen quickly, however, it helps to know the best methods for advertising and promoting the unique features of your company.
While you may have been running the show for a number of years, most people are relatively inexperienced when it comes time to sell, which is where an expert business broker can come in and help you through the process. There are thousands of businesses for sale at any given time across Australia, so having someone in your corner to cut through the competition can be a tremendous asset.