Selling your business ?

[helloworld]

Ok so this isn't a domaining business per se. But a lot of intelligent business owners and entrepreneurs here so I was hoping we could get a thread going. And maybe bring out a few lurkers.

I'm interested in stories from business owners/brokers on selling your business. Things like finding a buyer, pricing the sale price and all that guff. I would eventually like to sell my business and I'd like some general advice. I guess at the moment my business would probably only suit those doing similar tho a hand off manual could be written to pass it onto a novice.

Any info/stories appreciated

 

[helloworld]

Ps is not the site in my footer sig

 

[acheeva]

The more that you can do to systematize your business then the greater is the chance of sale

Buyers want turn-key solutions and are turned-off by "2-3 weeks training"

Technicians tend to start their own business as they generally lack capital and "know everything"

Entreprenuers buy businesses that can be managed & replicated; so are the people who will pay the most for your business

Buyers also need to understand your business so if you have a detailed information memorandum you are miles ahead of the pack

If you cannot present at least a basic SWOT analysis then you will find it difficult to attract attention

Finally; research industry forums, magazines etc before wasting money on advertising the business in traditional non-industry specific media. You may even consider building your own list of potential buyers for the purpose of direct marketing (if nothing else they are usually your best critics)

 

[pacifier]

Ok so this isn't a domaining business per se. But a lot of intelligent business owners and entrepreneurs here so I was hoping we could get a thread going. And maybe bring out a few lurkers.

I'm interested in stories from business owners/brokers on selling your business. Things like finding a buyer, pricing the sale price and all that guff. I would eventually like to sell my business and I'd like some general advice. I guess at the moment my business would probably only suit those doing similar tho a hand off manual could be written to pass it onto a novice.

Any info/stories appreciated

http://lmgtfy.com/?q=how+to+sell+your+business

 

[James]

What type of business is it?

Website Business?
Online Services business?
Offline business?

If its a website business Jock a member here brokers website sales.

 

[Jamie-AU]

Another thing people do is to buy businesses in their industry to thus reduce competition or instantly increase their customer base.

You could always approach a competing business to see if they are interested in buying you out.

 

[findtim]

i'd like to know time frame from today to expected sale?

if you are selling now i'd say don't and spend time getting the "house in order"

if you have a 5 year exit plan then I would do above + build the business up and pee off your competitors so they come to you to get rid of you. to many people stop everything and suck the business whilst trying to sell it which I believe is totally wrong.

I have a client that only looks to buy businesses with a strong competitor, his focus is to build and annoy the "number one" in the market place so they buy him out without him trying to, basically he "flips businesses" , these are bricks and mortar but also have a web presence depending on the need.

timeframe to sale is the key to what you do

tim

 

[helloworld]

http://lmgtfy.com/?q=how+to+sell+your+business

Wow, just wow. You realise this is a forum, right? Did you even read my post?

Another thing people do is to buy businesses in their industry to thus reduce competition or instantly increase their customer base.

You could always approach a competing business to see if they are interested in buying you out.

This is where I am at, at the moment. Probably the most suitable buyer because it would reduce training and make hand over easier.

i'd like to know time frame from today to expected sale?

if you are selling now i'd say don't and spend time getting the "house in order"

if you have a 5 year exit plan then I would do above + build the business up and pee off your competitors so they come to you to get rid of you. to many people stop everything and suck the business whilst trying to sell it which I believe is totally wrong.

I have a client that only looks to buy businesses with a strong competitor, his focus is to build and annoy the "number one" in the market place so they buy him out without him trying to, basically he "flips businesses" , these are bricks and mortar but also have a web presence depending on the need.

timeframe to sale is the key to what you do

tim

Good advice Tim. Yes, I've heard of other entrepenuers doing this for a living, take 2 year holiday, do it again etc.

What type of business is it?

Website Business?
Online Services business?
Offline business?

If its a website business Jock a member here brokers website sales.

Nah this wouldn't suit jocks business model. It's offline/online.

 

[jockp]

Helloworld,

Remember I come from a traditional business broker/valuation family company background.

Regarding info, the basics matter:

- extract the owner from the business
- not reliant on one income source
- the business is growing
- systems and processes

To increase the price
- find a strategic buyer
- have the business as hands off as possible