©  2014  JPAbusiness  Pty  Ltd   This  work  is  licensed  under  the  Creative  Commons  Attribution  4.0  International  License.    ABN  62  150  534  099   To  view  a  copy  of  this  licence,  visit  http://creativecommons.org/licenses/by/4.0/.  

JPAbusiness  Selling  a  Business  Checklist  

STEP  1:  Assess  the  saleability  of  your  business  

Ask yourself 3 questions: 1. Is my business saleable? 2. What is the likely price the market will pay? 3. What is the likely level of interest?

Answer these questions by doing the following: o Talk to a business advisor o Talk to a business broker o Have your business valued o Research online business marketplaces such as SEEK Commercial for other similar businesses

and activity

Once you have obtained this information, decide whether or not your business is ready for sale. If the answer is ‘yes’, proceed to Step 2.

STEP  2:  Develop  quality  content  to  market  your  business  

Seek professional assistance in preparing quality, up-to-date content on your business that will be relevant to a potential purchaser. This should include:

o Business overview

o Financial summary

o The opportunity

o Point of difference and competitive advantage

o Products and services

o Customers and suppliers

o Plant and equipment

o Business premises

o Operating hours

o Location

o Marketing

o People, processes, systems

o Asking price and inclusions

o Appendices and supporting information

©  2014  JPAbusiness  Pty  Ltd   This  work  is  licensed  under  the  Creative  Commons  Attribution  4.0  International  License.    ABN  62  150  534  099   To  view  a  copy  of  this  licence,  visit  http://creativecommons.org/licenses/by/4.0/.  

STEP  3:  Develop  a  marketing  plan  

Develop a marketing plan to outline who you will market your business to and how you will market it. Start by identifying:

o What is your value proposition and the key selling points that will appeal to prospective purchasers?

o Who is your target market?

o What’s in it for the purchaser? Summarise your key messages and relevant content for use in advertising.

o How do you locate potential purchasers? Consider online, print media and direct marketing networks.

STEP  4:  Choose  a  business  sale  method  

o Engage a professional advisor or business broker: Contact more than one broker and ensure you check their credibility and capabilities to sell your business.

o Self-market: Consider whether you have the resources to market and sell your business yourself.

o Internal sale: Is there an employee or shareholder currently in the business who would be interested in purchasing?