• Australian Business Sellers and Buyers Register

4 Ways to Attract Buyers for Your Business

4 Ways to Attract Buyers for Your Business 940 529 Richard Willis

When a business owner decides to sell the business, one of the main questions on their mind is: “How will I attract buyers?”

After spending years growing the business, it can be scary to sell it because no one really knows how many buyers out there are looking for your type of business. In reality, there are plenty of potential buyers, you just need to attract them. Below we have listed 4 ways to attract the right buyer who will meet your expectations.

4. Maximise the Value

One of the most important things you should start with is making sure your business is a valuable asset that will catch the buyer’s interest. In order to drive the best possible selling price, you’ll need to focus on improving and growing your business. You can do that by increasing your profits, offering quality products, and, ultimately, showing that their purchase will be as low-risk as possible.

3. Identify What You’re Looking For in a Buyer

Most business owners looking to sell the business have various objectives that go beyond the desired purchase price. And the definition of the “best buyer” can vary significantly depending on the seller’s objectives. So in order to target the buyers that are the most suitable, it’s essential to identify and understand your objectives first.

2. Tidy Up Your Books

You should always keep in mind that buyers are looking for objective figures and facts that will assure them that your business is a profitable investment. This means you’ll need to provide them with organised documentation and bookkeeping. Financial records need to be prepared in accordance with generally accepted accounting principles. Several years of audited financials show you and your business in a very positive light and can increase your selling price. Here are some of the many documents you should prepare for your business sale:

  • Cash flow statements
  • Current balance sheet
  • Profit & loss statements
  • Tax returns
  • Forecasts

1. Work With an Expert

The easiest way for you to attract buyers is by working with a business broker. Business brokers manage thousands of buyer relationships and have the expertise to guide a transaction to a close. They have a pool of both financial, as well as strategic buyers, many of which you may not have known exist. Working with an expert can also save you time and provide you with more favourable transaction terms and the best selling price.

Are you looking for a hassle-free way to sell your business?

Free Business Brokers enables Australian business owners to list their businesses for sale for free. Contact us today for more information or to list your business today!