Preparing to Sell Your Business

Appoint a business transfer agent

Although you know your own trading marketplace, you will probably need outside advice on locating potential buyers for your business. A specialist business transfer agent will not only have an existing database of potential buyers, but will also know how to market your business to attract a larger number of enquiries and the best possible sale price. Another advantage of involving an agent is that he can act as a buffer between you and the purchaser, meaning that you can retain good relations with the purchaser.

Get things running smoothly

Before you can even think about selling a business you need to make sure it is running smoothly. You should undertake a careful review of your operation and look at everything from leases to loan agreements, employees to legal disputes - anything that might put off potential purchasers. You can then deal with all items that need attention, but remember to allow yourself plenty of time.