Selling a business

[stefan.mrj]

Hi friends
I'm not sure if this topic has been discussed here before, however a quick search has me thinking not.. I'm trying to gather some creative ideas in an attempt to sell a family members business, they've approached me to do this for them. This being my first time ever trying to sell a business, naturally I'm a little clueless as to how to get it out there for max exposure.
It is a local business with a number of national clients here in Australia, it is in the embroidery/clothing market, and is easily profitable with a leading reputation. The reason they are selling is due to health concerns.
Up until this point my main approach has been targeting like-minded businesses through direct mail proposing an investment opportunity and advertising on websites tailored to selling businesses.
I'm compiling a short video presentation to give visual feedback to any interested parties but have yet to send this out yet.

Does anyone have any experience in successfully selling a business they'd like to share and any other ideas on how to gain more exposure and interest from possible prospects?

 

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[stefan.mrj]

bump

 

[CPisHere]

Those sound like your best bets. Your family member could take it to a business broker who might have a roladex of interested buyers.

 

[ispeaklife]

Hi friends
I'm not sure if this topic has been discussed here before, however a quick search has me thinking not.. I'm trying to gather some creative ideas in an attempt to sell a family members business, they've approached me to do this for them. This being my first time ever trying to sell a business, naturally I'm a little clueless as to how to get it out there for max exposure.
It is a local business with a number of national clients here in Australia, it is in the embroidery/clothing market, and is easily profitable with a leading reputation. The reason they are selling is due to health concerns.
Up until this point my main approach has been targeting like-minded businesses through direct mail proposing an investment opportunity and advertising on websites tailored to selling businesses.
I'm compiling a short video presentation to give visual feedback to any interested parties but have yet to send this out yet.

Does anyone have any experience in successfully selling a business they'd like to share and any other ideas on how to gain more exposure and interest from possible prospects?

 

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[ispeaklife]

Hey there!
Just remember a Business Broker only wants there commission and not necessarily looking for the best interest of the seller. I'm not saying they aren't going to be professional, I'm saying their objective is their commission. You could look for a creative way to sell the business like finding partners who would be willing to take an equity position in the company to help you grow it.

 

[Chris Kelsey]

My friend just sold his company for $8m January and he works with me, I know from him personally as well as other people. There's a ton of different things involved, but before I say anything, I want to know what kind of health concerns are involved.

 

[deste]

I have just read this book
http://www.builttosell.com

Really interesting

 

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[GuestUserX09]

I'm curious about this.

How about a sign at the door and message on the website saying: "This business is currently for sale. Contact for more information".

If you needed the quick sale, yeah a business broker would definitely save you some time and headache I'd imagine.

Just remember a Business Broker only wants there commission and not necessarily looking for the best interest of the seller.

Although they just want commission, they would probably find the best price, in hopes to make more money for themselves right? So it's kind of a win-win?

@stefan.mrj - I would of course first though try to trade some equity for someone else to run the business. So you can at least get some checks over time instead of having to find the perfect buyer right away. Worst case scenario, chug some business books and wing it until you can figure out the other things.

 

[ispeaklife]

I agree about the equity. I don't know if it's a win win with the broker. I guess it depends on what you want as the seller.

I'm curious about this.

How about a sign at the door and message on the website saying: "This business is currently for sale. Contact for more information".

If you needed the quick sale, yeah a business broker would definitely save you some time and headache I'd imagine.



Although they just want commission, they would probably find the best price, in hopes to make more money for themselves right? So it's kind of a win-win?

@stefan.mrj - I would of course first though try to trade some equity for someone else to run the business. So you can at least get some checks over time instead of having to find the perfect buyer right away. Worst case scenario, chug some business books and wing it until you can figure out the other things.

 

[stefan.mrj]

I agree with you on hiring staff to run it, but the owners seem set on selling. They would however still be getting some income on it as they own the warehouse and the land of the business.

Interesting ideas, much appreciated.

I'm curious about this.

How about a sign at the door and message on the website saying: "This business is currently for sale. Contact for more information".

If you needed the quick sale, yeah a business broker would definitely save you some time and headache I'd imagine.



Although they just want commission, they would probably find the best price, in hopes to make more money for themselves right? So it's kind of a win-win?

@stefan.mrj - I would of course first though try to trade some equity for someone else to run the business. So you can at least get some checks over time instead of having to find the perfect buyer right away. Worst case scenario, chug some business books and wing it until you can figure out the other things.

 

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