There are several steps you can take to sell a business in NSW:
It’s important to have a good legal representation during the sale process. A lawyer familiar with your local law and jurisdiction will help you with the legal paperwork and to check that everything is in order.
Once the sale is complete, transfer ownership of the business and assets to the buyer, and handle any necessary paperwork to close the sale.
A business broker is a professional who acts as an intermediary between buyers and sellers of businesses. Business brokers typically work with small and medium-sized businesses, and help owners who want to sell their business by finding potential buyers and facilitating the sale process.
Business brokers often work with business owners to help them determine the value of their business, develop a marketing plan to attract potential buyers, and negotiate with buyers to ensure that the sale is completed on favorable terms. They may also provide guidance on financing options and other issues related to the sale.
In addition to working with sellers, business brokers may also work with buyers who are interested in purchasing a business. They can help buyers identify businesses that meet their criteria, provide information about the businesses and the industry, and assist with the due diligence process.
There are several reasons why people may choose to use a NSW business broker to sell their business rather than selling it themselves.
Business brokers typically get paid a commission on the successful sale of a business. The commission is usually a percentage of the final sale price of the business and is negotiated between the broker and the business owner prior to starting the sales process.
The commission percentage can vary depending on the size and complexity of the business being sold, the level of service provided by the broker, and the geographic location of the business. In general, the commission can range from 5% to 10% of the final sale price of the business.
In addition to the commission, some brokers may also charge additional fees for their services, such as advertising and marketing expenses, legal and accounting fees, or other expenses related to the sale of the business. These fees are typically negotiated separately from the commission and should be clearly outlined in the broker’s contract with the business owner.
It’s important for business owners to carefully review and understand the terms of their agreement with a broker before proceeding with the sale of their business, including the commission rate and any additional fees or expenses.
There are several methods for valuing a business, including:
Ultimately, the appropriate method for valuing a business will depend on the specific circumstances of the company, and a combination of methods may be used to arrive at a final value.
When it comes to selling a business, you have a number of options. You could sell it yourself or choose from a selection of professional NSW business brokers. So why should you choose Morgan Business Sales? These are the reasons we most commonly hear from clients who come to us from a competitor:
Unfortunately there’s no straight answer. We’ve had businesses go under contract within a day. And other listings take two years to sell.
In our experience, the two major determining factors are the price (fair vs overpriced) and the amount of buyer demand in the given industry.
Please book in a free consultation here if you would like an understanding of how businesses like yours have been performing recently in the market.
Our listings get published to all of Australia’s largest business for sale directories (Seek, Commercial Real Estate, Bsale etc).
In addition we promote businesses on our website, on social media (Google, Facebook, Instagram, LinkedIn) and to our email list of 30,000+ qualified buyers.
For larger businesses, we also conduct a direct marketing campaign to national and international groups who have the potential to be a great fit.
No. We market businesses in such as way as that they remain anonymous. We act confidentially in all dealings.
In short, yes, we’re fully licensed to sell businesses in New South Wales.
In Australia, licensing of business brokers varies by state, with some states requiring licenses, some not; and some requiring licenses if the broker is commissioned but not requiring a license if the broker works on an hourly fee basis.
State rules also vary about recognizing licensees across state lines, especially for interstate types of businesses like national franchises.
Some states, require either a broker license or law license to even advise a business owner on issues of sale, terms of sale, or introduction of a buyer to a seller for a fee.
All Australian States require a real estate license in order to commence a career in Business Broking. According to a recent Australian Business Broking convention at least 6 states and two territories required business brokers to have a real estate license.
The following states require a license to practice as a business broker: Victoria, Tasmania, South Australia, Western Australia, New South Wales and Queensland. Territories in Australia requiring a licence are the Australian Capital Territory and the Northern Territory.