Businesses Wanted by Serious Business Buyers!

Cafes Wanted  - We are looking for a wide range of cafes to suit our existing buyers. If you are thinking of selling your cafe, please contact us. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers  - Register your business for sale here!    Restaurants Wanted  - All cusines and all locations are being sought by eager buyers. If you have a restaurant to sell contact SBX Business Brokers on 02 94394403 on sales@sbx.com.au - We have many Business buyers - Register your business for sale here!   Takeaways Wanted  - Busy takeaways are selling fast, and more are being requested by our buyers. Even if you are only thinking about selling, contact us for professional advice. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers - Register your business for sale here!  Manufacturing Businesses Wanted  - One of the largest demands we have for businesses are those do not require owner operation or participation, and where the business operates profitably under current management. All types of business industries in all locations are in high demand. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers - Register your business for sale here! Supermarkets Wanted Supermarket are wanted by buyers right now. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers - Register your business for sale here! Food Businesses Wanted  - All types of food businesses are in demand from our current buyers. We have sold many in recent months, and require more businesses as soon as possible. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers - Register your business for sale here!  Non Food Businesses Wanted  - Our business brokers have a vast amount of experience and specialised expertise. You are assured to receive the very best service and advise when selling your business, from professional who are in the know. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business buyers- Register your business for sale here!  Beauty Salon Wanted In Sydney and the surrounding area. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business Buyers - Register your business for sale here! Delivery Runs - Buyers interested in freight runs. Trucks & equipment not necessarily required but may be aquired if this forms part of the business sale. Contact SBX Business Brokers on 02 94394403 or sales@sbx.com.au - We have many Business Buyers - Register your business for sale here!

Prepare your business for sale - even if you have no intention to sell it

In the business magazine BRW, Anthony Bell, founder of fast-growing accounting firm Bell Partners, says: "I have a philosophy of building businesses for sale even though you might not be intending to sell." 

This makes perfect sense and it's something that all small business entrepreneurs should take to heart. When you prepare your business to sell it, you are maximising returns, creating efficiencies and installing robust systems that will last long after you are gone.

However, I know that some small business entrepreneurs may argue that they have no intention to sell. That's not the point. Even if you plan to keep your business for life, you'll be creating a more efficient business if you follow this philosophy.

I know one small business entrepreneur who says that she has created her business for "lifestyle reasons". She wants a flexible working environment to enable her to pursue her other interests. This is great - and I'm all for businesses that can do that - but the danger is that if you don't structure your business so that it can run without you, it can end up being an albatross. As time goes on and your business grows, it will rely more on you. And the "other interests" you want to pursue will go out the window.

  

So how can you prepare your business to sell it? While there are a range of things you can do, some basic strategies include:

Get your books in order and understand your financial position
This is crucial whether you want to sell your business or not. I'm constantly amazed at the number of small business entrepreneurs who have no idea how much tax they have to pay or what their superannuation liability is. If you're not savvy with numbers, then, at the very least, get a bookkeeper who can give you a firm idea of your profit and loss every month, and an indication of what your payables and receivables are.

Note from Kevin: Not everyone has cash to buy a business and not everyone has a property with equity they can borrow against and in these instances the buyer will be required to obtain a business loan. When applying for a business loan, the lender wants to see 2 full years of trading figures so one of the most important factors when selling a business, are to make sure you can provide these 2 years of trading figures.

Review any property or equipment leases
This is particularly relevant if your premises are crucial to your business - perhaps you have a prominent storefront or are geographically close to your customer base. This is less important if you operate out of an office that receives few visitors.

Consider if you need to review any leases and sign up for new ones that will ensure your longevity in your location.

Are your systems in place?
Michael Gerber made "systems" a buzzword in The E-Myth. But it's gone beyond being a buzzword and systems are now the core foundation of any business. If a particular function or process falls down when a certain member of staff is sick and no one else knows what to do, you need to review your systems. At a most basic level, start by documenting every step in all your processes and create a procedures manual.

If you are the only one in your business, you might think this is a moot point. But even if you have no plans to employ anyone else, documenting your systems is still worth it. Trust me. Go on a holiday and if you're relaxed enough when you come back, you could be scratching your head wondering how you used to do certain things!

 

Do you plan to sell your business one day and what are you doing to prepare for it?