JPAbusiness Selling a Business Checklist
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© 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: Talk to a business advisor Talk to a business broker Have your business valued 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: Business overview Financial summary The opportunity Point of difference and competitive advantage Products and services Customers and suppliers Plant and equipment Business premises Operating hours Location Marketing People, processes, systems Asking price and inclusions Appendices and supporting information
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© 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?
