Fortune Business and Property Brokers – Licensed Real Estate & Business Agents, Perth W.A.
Business Brokers Business for Sale
Since 1997 we have helped many people through the business sale process. Fortune has experienced, professional Brokers for all types of businesses including Hospitality & Accommodation, Retail, Service, Manufacturing & Wholesale, Import. We also specialise in Business with Freehold property and Rural Business. Services include:-
Sell a Business
Fortune Business Brokers can assist you with all facets of the business sale process from the initial contact through to settlement. This is how we like to work with you.
Initial Contact – Contact us by email or telephone and we will let you know what information we need to provide you with a professional market assessment of your business. See our Tips on Selling Your Business
Fact Finding – Based on the information you provide we will have a few questions about your business.
Initial Meeting – Once we compile the information we can show you how we calculate your possible sale price and the factors that affect it. If you agree with the range of value and want to place your business on the market with Fortune we will proceed to the listing stage.
Listing – Fortune operates on an exclusive agency basis. We believe that your Broker will work a lot harder for you if he or she knows that they will get paid on a successful sale. The agency agreement will detail the price of the business with the breakdown of Goodwill, Plant & Equipment, Stock, Excluded items and freehold property if applicable. Fortune will conduct the appropriate searches with ASIC, Landgate and other authorities as required.
The Business Profile – Your Broker will spend considerable time and energy compiling the Business Profile document. This in effect is the Brokers opportunity to do “Due Diligence” on your business in order to discover any aspect of the business that may cause a problem in the sale process. Better to identify any problem now than take everyone by surprise a week before settlement. The Business Profile will contain all the information for a buyer to decide if they want to proceed further with the business. This will usually include the Brokers financial summary but not the financial statements.
Confidentiality – As a matter of course Fortune requires all potential purchasers to complete and sign a Non-Disclosure document prior to receiving any information on your business.
Marketing – Business For Sale marketing these days is predominantly internet based and Fortune has premium paid access to a range of popular Australian sites. Fortune also has a database of buyers and can target market specific industry groups locally and across Australia and New Zealand.
The Offer – Once a potential purchaser is found and qualified (ie do they have the capacity to finance the purchase) your Fortune Broker will prepare a comprehensive offer document to present to you. If a property is involved you will receive two offer documents. This document will include all terms and conditions of the offer such as price, deposit, lender and finance required, settlement date, lease assignment, conveyancer, standard conditions and special conditions. At this point, you as the seller, can choose to accept the offer, reject the offer, counter the offer. Once you decide on the course of action your Broker will negotiate on your behalf to achieve the best possible outcome.
Conditions – Generally the main conditions of any offer are due diligence, finance and assignment of lease. All of these will have a time limit and your Broker will work with the purchaser to sign off on these in a timely manner. Standard sale conditions are contained within the “General Conditions of Sale” document that would be provided with the offer.
Conveyancer – We strongly recommend that you appoint a Business Settlement Agent or Conveyancer to represent you. Your conveyancer ensures the completion and lodgement of documents to transfer the details of ownership on the business registration or certificate of title; makes necessary enquiries, such as title, rates and zoning; double checks that all inspections and other special conditions in the contract have been completed prior to settlement and ensures that their client is satisfied that the conditions have been met; requests funds to proceed to settlement; keeps you informed about the progress of buying your property and lets you know about any problems and attends settlement on your behalf.