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FREQUENTLY ASKED QUESTIONS
15 Questions to Ask When Selling or Buying a Business
Why should I choose Business Broking Solutions (BBS) services?
Is it your company provides Private & Confidential services when selling my business?
How does Business Broking Solutions (BBS) can help you to sell your business?
How does Business Broking Solutions (BBS) market listing?
How fast Business Broking Solutions (BBS) could sell my business?
How much is my business worth?
How to sell my business? When is the best time to sell my business?
How do I prepare my business for sale?
What happens when Business Broking Solutions (BBS) find a buyer for my business?
How long the registered business for sale listing will last?
Do I need to sign exclusive listing agreement with Business Broking Solutions (BBS)?
Business Broker vs Real Estate Agent, what's the difference when I am trying to sell my business?
Why should I choose Business Broking Solutions (BBS) services?
The team at Business Broking Solutions Sdn Bhd has been operating in the business services industry since 2007. Our company is well qualified to assist you in the business for sale process, no matter what kinds of industry or size of your business. All our business brokers are full-time, and our experienced brokers can help you narrow your search to the kinds of businesses that meet your search criteria. As a seller, our brokers can help you streamline everything from pricing your business to marketing it to buyers.
Is it your company provides Private & Confidential services when selling my business?
Yes, we understand most sellers do not want anyone to know their business is for sale. Our company methodology creates qualified buyers and protects those sellers whose business could be impacted should their customers, employees, suppliers or competitors learn their business is for sale. All buyers must sign Non-Disclose Agreement (NDA) before our company discloses information to them.
How does Business Broking Solutions (BBS) can help you to sell your business?
Our website traffic is heavy visit everyday, and generate many unique visitors each month from local and different countries. We have qualified buyers in our company database, we are partner with several banks and Private Equity / Venture Capital companies as well.
How does Business Broking Solutions (BBS) market listing?
We will post your ad on our brokerage site & our partner's website, and every month we are selected to place our company ad in different of media, so its great opportunities for you to advertisement with us to attract more buyers.
How fast Business Broking Solutions (BBS) could sell my business?
If you want your business to sell quickly you need to be ready all the necessary documents. So our ready buyers can have a resource available and not be stepping in blindly. Sell off all your old stocks, clean out unused areas, ensure your employee agreements are up to date and staffs have taken leave. Make sure your client and supplier databases are up to date. Make your business look appealing and organized, and have a ready-made manual for the new buyers. If you could provide us as much as possible information, and buyers are interested to takeover your business, we are confidence to close the deal for you within one month and maximum two months time.
How much is my business worth?
The price of a business is determined by several factors, including the following:
* What is for sale (Stocks, Equipment, Renovation, Goodwill, Property and etc)
* What is included and what is excluded (Deposit and etc)
* Who is the most likely buyer
* How much added value can the right buyer create, when and at what price
How to sell my business? When is the best time to sell my business?
The best time to obtain the highest price occurs when sales and earnings are good with an upward trend. A solid earnings trend will enable a buyer to pay a premium and still meet his return on investment (ROI) criteria.
A history of good performance also gives the buyer confidence in projected future maintainable earnings. Equally, transparency of the entire operation and the manner in which management is conducting the day to day operation, is imperative in choosing the time to sell.
If my business was running less than 6 months and without profit or just breakeven, is it possible to sell my business?
Yes, we will sell your business as part of assets even remaining stocks and equipment, and we had experienced to close the doors and sell of any assets.
If my business was closed down and no account or track record to show the buyer, will you be able to sell my business?
Yes, but make sure your business was closed down within few months.
How do I prepare my business for sale?
Continue to run your business as you normally would and maintain relationships with all stakeholders. It is important to sell your business while it is growing, so consider employing a specialist to enhance the value of the business.
Remember, don't wind down your operation and keep up your marketing and advertising drives. Don't assume that buyers will see the business growth potential.
Finally, when the buyer's accountant becomes involved in the sales process the focus shifts from the value of assets of the business to the financial performance of the business and future maintainable earnings expectations. At this critical stage you as the owner of the business are in need of strong representation by experienced negotiators to realise the fair value of the business.
What happens when Business Broking Solutions (BBS) find a buyer for my business?
It is Accord's policy to provide very limited information over the phone or by email until we are satisfied that the enquirer is genuine in terms of their identity and level of interest. We request that a Confidentiality Agreement is signed by the potential buyer before we disclose any information. When we are satisfied that the buyer is genuine, we will contact you to discuss the next step before releasing any new information.
What's Business Broking Solutions (BBS) successful rate? Or On average, how long were last year's listings on the market before they ended in closed sales?
65% ~ 85% of business transaction has been sold was went through Business Broker services. After the buyer has performed due diligence and is happy, make sure you have your contract of sale ready and the solicitor is ready to proceed. Don't allow transaction to be any delays or for the process to slow down as it may scare off the buyer. Once the deal is confirmed, we will help you to close the deal within one month.
* Terms & Conditions apply
How long the registered business for sale listing will last?
Once you have registered your business for sale with our company, your listing will up until we sell off your business. If in the between time frame, you had already sold your business thru your friends or relative, kindly inform our company to remove your advertisement.
Do I need to sign exclusive listing agreement with Business Broking Solutions (BBS)?
No, you don't have to sign exclusive agreement with our company. You can appoint our company to help you to sell your business, and at the same time sell it your own. You just need to sign a simple Authorization Letter with Business Broking Solutions (BBS) to give us authority to sell your business.
Business Broker vs Real Estate Agent, what's the difference when I am trying to sell my business?
Many people assume that business brokers and real estate agents are essentially the same thing, one just sells property and the other just sells businesses. Nothing could be farther from the truth.
If you are looking to sell your business, not understanding this difference could mean trouble for your business for sale. These troubles arise because some who may call themselves business brokers are in fact just real estate agents giving themselves another title to diversify their work.
To put it simply, the only thing that business brokers and real estate agents have in common is they both work for commissions. That's it. Essentially everything else is different.
For a real estate agent, selling a home or a piece of property means the more exposure, the better. They work hard to put their listings in front of as many prospective buyers as possible. Marketing techniques include listing the property on the property website, which is basically available for anyone to search. They put a sign in the front yard, put photos in local print and online publications - basically telling the world where and for how much their property is for sale.
For a business broker, the marketing techniques must be very different. Businesses need one very important thing while they are trying to sell. Business Brokers need private and confidential. Marketing a business the same way you would market a house could be disastrous for the business. They could lose employees, vendor contracts, and even clients as people tend to pull away from a business if they know it is going to change hands. Your customers, vendors and staff having a fear of the unknown will cause problems for your bottom line.
Only a business broker will be able to put together the best marketing package, ensure that confidentiality is maintained, help you with everything from licensing to leases, and act as a buffer between you and the buyer during any negotiations.