Whistle Social Media Pack
2 x story posts to Facebook and Instagram
1 post to Facebook, Instagram, Linkedin, Twitter
$100 applied to boost the post across Facebook and Instagram.
Valued at $220 + GST
View our Facebook page
View our Gold Package for more inclusions.
Selling a business privately requires you to be organised. First, you will need to prepare the business for sale; this involves organising all your necessary documents, including finances, contracts, lease agreements, employee documents, client lists etc. Then assessing if you need to do anything to the business to ensure you will achieve an optimum price, such as reducing overheads or selling old stock. Second, you will need to visit your accountant to assess what they think your business is worth and what tax obligation you may have. Third, you will need to speak to some business brokers to obtain a market appraisal for your business. Fourth, you will need to visit a lawyer and have them prepare the necessary legal documents such as an NDA, heads of agreement and contract of sale. Fifth, you will need to advertise the business for sale on websites such as Bsale. Six, you will need to filter enquiries and negotiate with the buyer. Seven, you will need to finalise the sale, exchange contracts and go to settlement.
There is a lot involved in selling a business, so many owners choose to sell with a business broker. However, there has been a lot of success from business owners selling their businesses privately. As the owner, it is your decision. View our six steps to prepare a business for sale to get started.
Bsale is an advertising platform. Our goal is to generate leads for your business sale. Whether you’re a business broker, business owner or franchisee, we work hard to generate leads and find you a potential buyer. We have been an industry leader since 2000. We are not licensed business brokers, so we cannot sell your business.
No. Bsale is an advertising website with the goal of generating leads for your sale. We want to place your business in front of potential buyers and have them talk with you about the business sale. In Australia, only licensed business brokers and real estate agents can charge commissions for selling your business, and you will usually have a signed agency agreement with them.
It is a good idea to use a lawyer or solicitor when selling a business as you want to ensure everything is legal. There are solicitors who specialise in business sales and understand the complexities of a business sale contract. A good solicitor will walk through the entire sale process with you; this includes preparing necessary documents and guiding negotiations. You want to ensure you are properly represented in the business sale, so everything runs smoothly through to settlement. The buyer may also engage a solicitor during due diligence and negotiations.
The best way to assess what your business is worth it to get a market appraisal. Business brokers will provide you with a market appraisal of what they think your business could sell for. Appraisals are often provided free of charge by a broker as they would like you to become a client, and it’s part of their sales process, though some may charge a fee. There can be many variations in a business’s appraisals, depending on the broker's perspective and what they consider valuable.
It is a good idea to approach three business brokers who understand your industry and have experience selling your type of business. There is no point applying a calculation you find online as businesses are so varied, you want to get an accurate appraisal for the current market conditions. At the end of the day, you want to know what your business could sell for in the current market and ensure it’s priced correctly and is not too high or too low.
You can also obtain a business valuation performed by a licensed business valuer. A business valuation usually costs $3,000+.
In Australia, you have the option of selling your small business privately, i.e. without using an agent. At Bsale, we have advertising packages for small business owners who can market their business sale and receive enquiries. You can then discuss your business with potential buyers. It’s important to be prepared and have your financial and legal documents organised. Please see our six steps to prepare a business for sale.
You can sell your business without a broker on Bsale. We have advertising packages available to business owners that allow you to place your opportunity in front of buyers and alongside business broker ads. Bsale is an advertising platform that has been established in 2000 and is an industry leader. We are a family-owned business and have a solid understanding of your needs and how to market your business sale to potential buyers.
Yes. It’s important to have an exit strategy as part of your business plan. An exit strategy will outline what happens to the business when the current owner decides it's time to leave. The strategy could involve selling to a competitor, engaging a business broker, transferring ownership to a family member or selling privately. It will outline when is the best time to sell; perhaps when net profit reaches a certain point, when the owners plan to move, when a patent or trademark is approved or when the owner is ready to retire. In reality, very few business owners have an exit strategy and usually sell their business when life forces the sale, such as; relocating, sickness, retirement, increased expenses or downturn in profit. If you give yourself enough time to plan your business sale, you can set up an exit strategy.
FSBO means ‘for sale by owner’. It is a common term used in the real estate industry when someone is selling their own property. It is sometimes used in business sales, though it is more commonly referred to as a ‘private seller’.
Our packages are based on the level of exposure you will receive. Our Bronze package allows you to create a listing on the Bsale website. The Silver and Gold packages include additional features such as social media marketing, digital magazine and on-site upgrades. These packages are designed to get your business sale actively promoted across a wider audience. You can purchase additional upgrades and features once your listing is active.
The best way to sell your small business is with the assistance of professionals. You want to make sure you have the right people around you to guide you through the process. Depending on your business’s circumstances, you may choose to sell it privately or via a business broker. You will need to have an accountant and lawyer to assist with the necessary documents.
Capital gains tax applies to business sales in Australia. There are currently four small business concessions that could reduce your CGT payable. According to the ATO, these concessions currently include; 15-year exemption - if you have owned the business for at least 15 years and are over 55 years; Active Asset reduction - only pay tax on 50% of the capital gain; Retirement Exemption - if you are under 55 and place the money from the disposal into a retirement fund; Rollover - deferring payment for two years whilst you purchase another business. It's important to engage an Accountant who will guide you through the process of selling a business and assess your tax obligations. These exemptions may change, and it's important to check the current requirements when you are selling a business. A helpful section on the ATO website outlines what happens when changing, selling or closing a business.