On the road to selling your business you will likely come face to face with someone claiming that they can sell your business to an overseas buyer for more than it is worth. Despite recent actions taken by the ACCC against unscrupulous vendors making these claims, the myth about overseas buyers continues to plague business sellers.
Advertising overseas will cost as much if not more than it does in Australia and knowing the truth about overseas buyers could save you a lot of wasted money.
So, if you’re thinking of selling your business through a business agency now or at any time down the road, take the time to arm yourself with the myths and facts about overseas buyers.
Let’s just get this out of the way: there is no one-size-fits-all formula for pricing your business. Anyone who tells you that there is, is probably about to ruin your chances of selling your business at its full value in your expected timeframes.
And here’s why: the price at which you take your business to the market is one of the main determining factors that can lead to a successful business sale. Your advertised price has a huge affect on everything from:
- Your target market,
- The perceived return on investment,
- The availability of finance,
- Your buyers’ level of trust in your business,
- The calibre of buyers you attract,
… and most importantly; it has serious implications when you get to the negotiating table.
All of those things put together can have a massive affect on your business sale so, quite simply, if your business price isn’t a strategically calculated figure, you’re shooting yourself in the foot. It can be the difference between selling and not selling.