Selling your business -- which route should you take?
Once you have decided that you will be selling your business, you need to start thinking about your options to market the sale of your business.
There are a variety of routes you can take. However, which one is best for you in your circumstances? We will take you through the factors you need to keep in mind when making this decision.
Selling your business through business transfer agent
Generally, hiring a business transfer agent is what most people choose when they are new to business selling or even for individuals who would rather have an expert to help them through this process.
A business transfer agent will source serious buyers, help conduct sale negotiations, manage communication between you and the prospective buyer.
However, this is a costly route since you will be charged an engagement fee regardless of whether the business eventually sells or not.
Selling your business privately
When selling a company, there are a variety of things that the owner will need to consider – with the importance of privacy being one of them.
There are quite a few reasons why a confidential sale can be beneficial for those looking to exchange their firm for cash– the main one being that they can help to offer owners a sense of privacy. Whether you’re worried about alarming your staff or you don’t want the competition to know what you’re planning to do, it can be a great idea to protect the identity of your business while it’s on the market.
Before you decide, you should take the time to learn more about private deals and how they differ from regular ones, and ultimately if this will be the right choice for you. Click here to find out more.
Selling your business through an online business selling platform
You can use an online business selling platform, even if you want to take the private sale route. Some platforms are even used by brokers and business transfer agents to advertise businesses of their clients. You will be charged a listing fee. So you want to check the popularity of the platform by tracking visitors and Google ranking. Further, check out the customer reviews and client testimonials.
Please note that the information provided on this page:
- Does not provide a complete or authoritative statement of the law;
- Does not constitute legal advice by Net Lawman;
- Does not create a contractual relationship;
- Does not form part of any other advice, whether paid or free.
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