In today’s uncertain and troubled times businesses cannot be sold by word of mouth advertisement, or putting up advertisements in various newspapers and trade journals. The current state of business affairs asks for a professional approach to this problem. To sell a business one needs appraisers or brokerage firms who have cash surplus, local and international clients ready to buy businesses that hold good future.
The first task, which every seller has to undertake, is the “Business valuation” process.
It is a method, a process of evaluating liabilities and assets of the concerned business. In short it tells the seller the market price of his business. The price that is calculated is generally free from all liabilities, litigations, taxes, penalties, claims etc.
Finally, when the seller agrees to the acquirer’s offer price, the sale documents are drafted for smooth transaction and transition. During the time of negotiation the identity of the company which is for sale is kept hidden. It is an important aspect of the whole transaction; called the confidentiality agreement.
Winding up and dissolution are two important tasks that are performed for successful company liquidation.
Sell your business refers to, ending or terminating a company’s financial and general transactions; a pre-closure legal step. This also includes sale of assets and property.
Part two of the liquidation process includes paying off all dues, charges, fees, penalties and taxes to government agencies and departments. This is called dissolution.
Both these steps are essential to truly wind up a company. The concerned business ceases to exist after a successful winding up process.
Selling a company involves lot of decision making. It demands several legal and on-legal paperwork and tasks that need to be performed successfully. There are several companies in Australia who help sellers in disposing off sick or profit making enterprises. Below mentioned are some of the standard procedures adopted by these business sales online Australia brokerage websites.
1. Scrutinizing various selling options or exit strategies.
2. Calculating the market value of the company which needs to be sold.
3. Pre-selling enhancement game plan.
4. Negotiating with buyer. You can either do it yourself as a CEO or as an individual. Generally the brokerage firms do the negotiation on behalf of seller and buyer.
5. Preparing legal/sale documents and help smooth transition. An acquirer generally demands some help from the seller during this phase.