State of the Market Q4 2023
Benchmark Business Sales & Valuations State of Market Download Q4 2023 Report
Benchmark’s specialist award winning team can help you to sell your business for the best possible price
The decision to sell a business is not one that should be taken lightly. Nonetheless, if you’ve been searching “how to sell my business” or at least thinking about it, you probably shouldn’t ignore your gut instinct.
Here are six clear signs that now is the right time to sell your business;
DID YOU KNOW THAT THERE ARE SIX ESSENTIAL ELEMENTS WHICH NEED TO BE PRESENT TO ENABLE A BUSINESS TO BE SOLD?
With these six elements present your business should sell promptly. Conversely, if any of these elements are not present, a sale may not be completed in a timely manner. One of the strengths of the Benchmark group is the fact that all of our business brokers have either owned and operated their own small business, or have been involved in business.
So, in speaking to a Benchmark agent you are speaking to someone who REALLY knows what it’s like to run your own business. Benchmark’s business brokers will assist you, showing you ways to save time, money and effort – and how to reduce heartache and complication. If you have a business for sale, Benchmark will take care of you.
It’s likely that some negotiation will take place with the buyer. So, undervaluing your company at the start could put you at a real disadvantage. Similarly, overvaluing it could deter prospective buyers. Gaining an independent appraisal could be a key step to ensuring that you achieve a fair price and complete a fast sale.
It is tempting to sell a business before it crashes and burns. However, if you are in a position to build it up, you should take a few months to do this. Once the business is more stable or growing, it’ll be a far more attractive prospect for potential investors.
Once people know that you are desperate to sell your business, it puts you in a far weaker position for negotiations. Likewise, employee productivity can take a major hit. Ultimately, this is a crucial moment in your relationship with the business. Try to stay positive and keep things running as normal while you allow your business brokers to do their job.
When presenting a business to prospective buyers, all details relating to the business must be organised. If they are not, it can cast doubt in their mind or make it seem that you are intentionally not offering full transparency. Profit & Loss statements, balance sheets, and tax returns should be submitted to provide clarity for the buyer.
Outsourcing the sale to a business broker is the best option for many reasons, but only if you choose the right one. A qualified professional that boasts a track record of selling businesses like yours - in terms of size and industry - will serve you well.
Are we the best company to work for you? Is Benchmark the most suitable firm to represent your business when it is time to sell? Take time to meet with us and talk to us about the process, and your current position. Take time to assess our company, and to determine how we would prepare your business to take it to market. Find out what we can do to assist you to transition ownership – and turn your business asset into cash.
Are you ready to sell? A check of the status of the business, and current market will enable you to decide if the business is ready to be sold now. Or if it is more prudent to wait a while.
Optimise all aspects of the sale process, and manage the outcome. Don’t rely upon the uncertainty of the market, create a plan and a course of action, which will help maximise business value, and minimise disruption.
Once everything is ready, it’s time to get started. And with a professional business broker managing the process, a sale should ensue in 90 days. Benchmark’s “Formula For Success” aims at ensuring that your business is able to be sold – not simply listed for sale.
Last and more important step: Sell the business.
DID YOU KNOW THAT THERE ARE SIX ESSENTIAL ELEMENTS WHICH NEED TO BE PRESENT TO ENABLE A BUSINESS TO BE SOLD?
With these six elements present your business should sell promptly. Conversely, if any of these elements are not present, a sale may not be completed in a timely manner. One of the strengths of the Benchmark group is the fact that all of our business brokers have either owned and operated their own small business, or have been involved in business.
So, in speaking to a Benchmark agent you are speaking to someone who REALLY knows what it’s like to run your own business. Benchmark’s business brokers will assist you, showing you ways to save time, money and effort – and how to reduce heartache and complication. If you have a business for sale, Benchmark will take care of you.
It’s likely that some negotiation will take place with the buyer. So, undervaluing your company at the start could put you at a real disadvantage. Similarly, overvaluing it could deter prospective buyers. Gaining an independent appraisal could be a key step to ensuring that you achieve a fair price and complete a fast sale.
It is tempting to sell a business before it crashes and burns. However, if you are in a position to build it up, you should take a few months to do this. Once the business is more stable or growing, it’ll be a far more attractive prospect for potential investors.
Once people know that you are desperate to sell your business, it puts you in a far weaker position for negotiations. Likewise, employee productivity can take a major hit. Ultimately, this is a crucial moment in your relationship with the business. Try to stay positive and keep things running as normal while you allow your business brokers to do their job.
When presenting a business to prospective buyers, all details relating to the business must be organised. If they are not, it can cast doubt in their mind or make it seem that you are intentionally not offering full transparency. Profit & Loss statements, balance sheets, and tax returns should be submitted to provide clarity for the buyer.
Outsourcing the sale to a business broker is the best option for many reasons, but only if you choose the right one. A qualified professional that boasts a track record of selling businesses like yours - in terms of size and industry - will serve you well.
Are we the best company to work for you? Is Benchmark the most suitable firm to represent your business when it is time to sell? Take time to meet with us and talk to us about the process, and your current position. Take time to assess our company, and to determine how we would prepare your business to take it to market. Find out what we can do to assist you to transition ownership – and turn your business asset into cash.
Are you ready to sell? A check of the status of the business, and current market will enable you to decide if the business is ready to be sold now. Or if it is more prudent to wait a while.
Optimise all aspects of the sale process, and manage the outcome. Don’t rely upon the uncertainty of the market, create a plan and a course of action, which will help maximise business value, and minimise disruption.
Once everything is ready, it’s time to get started. And with a professional business broker managing the process, a sale should ensue in 90 days. Benchmark’s “Formula For Success” aims at ensuring that your business is able to be sold – not simply listed for sale.
Last and more important step: Sell the business.
For most owners looking to sell a business, it is a once-in-a-lifetime process. Therefore, it is vital that you familiarise yourself with the road ahead. It will depend largely on whether you are a sole trader, company, partnership, trust, co-operative, indigenous corporation, or joint venture.
If you are the sole owner and shareholder, you can sell the entire business without consulting anyone else or encountering internal obstacles. When other shareholders or joint owners are involved, you may need to convince them that now is the time to sell your business.
When all the major decision makers are on the same page, the selling process is usually smooth sailing. Alternatively, you can look at selling your shares – either to the other owners or an outside investor.
Whatever the situation might be, our experts can investigate all possible avenues to ensure that any exit strategy is designed with your best interests in mind at every stage of the process.
Sell Your Business – Benchmark has the buyers.
After many years of selling businesses there aren’t many challenges that we haven’t seen or overcome before.
So, when you want to sell a business, we can show you how to make it easy. In fact, we have developed a proven formula to ensure that your business is sold within 90 days.
Our team of specialists have many years of experience in business sales, management, ownership and consultancy. Whether you’re a business owner, investor, or buyer, Benchmark’s business brokers will assist you, showing you ways to save time, money and effort – and how to reduce heartache and complication. If you have a business for sale, Benchmark will take care of you.
Benchmark and their team of brokers and advisors sell
hundreds of businesses every single year
Know what your business is really worth, or understand the value of the business you are acquiring with a certified independent business valuation.
Benchmark Business Sales & Valuations State of Market Download Q4 2023 Report
Mathew Hartley is a quintessential professional and by far the most experienced and successful supermarket valuer
When? Most business owners find it hard to believe that they should start thinking about the
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