Tips For Selling A Business

Some people think it would be easy to sell a business, but in fact, it is a very complicated and risky business.

It’s no secret that you would like to sell your business for the highest possible price, but what if the purchaser is later disillusioned or disappointed with the business purchase and blames you, the seller, for their misfortune?

This is a significant risk which if not managed, can turn into a nightmare which lasts for years after you have been able to sell your business.

The best way to minimise the risk involved in the sale of a business is for the seller to have a business valuation report completed on his business by a competent business valuer before the business goes on the market.

In this way, the buyer has more confidence in the business and can raise loan funds more easily.  They can bring in partners, all with the security of knowing that the business has been thoroughly examined by a business valuer and that it is not just the seller who is advising on the health and status of the business being sold.

Partner up with GMO Business Brokers

When you’re ready to start talking to an expert in selling businesses, contact GMO and we will recommend one of our experienced Business Valuers. Our business brokers will advise on the cost of a valuation and the process of getting the business valuation report done.

Remember, this investment could result in a buyer investing twenty times that cost in a more confident offer price.

You will also feel more secure in the sale process with the knowledge your business has been well examined, well presented and fairly represented by an independent third party report. Read more about selling a business. 

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Whether you dream of buying a business, want to sell your Perth or WA business, or want to know the value of your company – GMO’s business brokers and valuers are here to assist you. We have won the City of Perth Award for Business Excellence and our Managing Director has been elected as a fellow of the Australian Institute of Business Brokers. Whether you are a buyer or a seller, GMO can introduce you to the right person.

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CONFIDENTIALITY DISCLOSURE AGREEMENT

  • The disclosers are willing to disclose such information to the recipient subject to their acceptance of the following conditions:
    1. The recipient shall treat all information received from the discloser as confidential and shall ensure that all such information remains confidential and shall not use any such information in any way other than for the specific purpose aforesaid. The recipient acknowledges that all conditions subsequent in this disclosure apply to the recipient and any associates of the recipient be they partners, co‐directors, trustees, holders of shares or officersin entity(s) the recipient has interest in.
    2. The obligations of paragraph 1 shall not extend to any such information which is in the public domain, or which hereafter becomes part of the public domain otherwise than as a result of any unauthorised activity or omission of the recipient, or which is already in the possession of the recipient and was not derived from the disclosers.
    3. The recipient shall return all such information received other than that which is submitted orally at the termination of such negotiations entered into as a result of this agreement.
    4. The obligations set forth in paragraph 1, 2 and 3 shall terminate 12 months from the date of this agreement or upon the disclosers and the recipients entering into an agreement whichever event occursfirst.
    5. The recipient shall obtain no rights of any kind to such information other than for the specific purpose stated in this agreement.
    6. The receiving party will not utilise any material made available to improve, construct or change another business, in such a way as to allow that business to compete with the business being discussed.
    7. The recipient understands that the information has been compiled by GMO from details provided by the Vendor. Prospective purchasers should be aware that it is not intended that any projections or this information be treated as a representation, warranty or promise by GMO or its representatives, as to the correctness of the information, or that all relevant information is contained in the information provided.
    8. The recipient acknowledges that they will not act on information provided without first seeking independent financial and legal advice.
    9. The recipient hereby agrees to declare any beneficial interest in any business that could currently be interpreted as being in competition with the subject business.
    10. The recipient agrees to return all documents supplied within 50 days of receipt (and any copies) should they decide not to proceed. The recipient further agrees to destroy any electronic information supplied by the Seller or GMO and to instruct their professional advisors to also destroy any information passed on by the Seller, the recipient or from GMO.
    11. The recipient acknowledges they are precluded from physically visiting the premises of the business or talking to any client, supplier or employee of the business without the permission of the discloser.
    The recipient/s hereby accepts the above conditions as binding on them in respect of the information referred to.
    By ticking you are accepting and agree to our Terms & Conditions including Confidential Disclosure Agreement & Privacy Policy.

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