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Why selling your business yourself on Gumtree may not be such a great idea

Published : 27 January 2017 Author : Andrew Dickson Comments :

First off, let me state this is not a complaint against Gumtree. Gumtree is a great conduit for selling items and to promote small businesses. It is a very successful business that has had immense growth in Australia in the last 5 to 10 years. It is very good online classified type of Website. 

But is it the place to sell your business? This is a different question. A business sale is more complex and a much more important transaction than selling your second-hand lawn mower or car.

Important attributes you need to sell your business:

  • Knowledge
  • Time
  • Discretion

 

Do you have the knowledge?

Let’s look at a business sale. You need to identify what your business is made up of, the tangible assets and intangible assets that you want to sell. 

Tangible assets are easy to identify and make a judgement about their condition and value. EG plant and equipment such as vehicles or a cold room.

Intangible items are the hard part of the business to value.  These are often the most valuable parts of the business. These are the reputation, the customer base, the systems, maybe the location.                              

Most people have not sold a business before, so how do you know how to present a business to attract buyers and to get the best value for your sale? 

Buyers especially have a harder time understanding and putting a value on and sometimes paying for intangible parts of a business. 

So, is it wise to use Gumtree as the place to sell an item that is intangible in nature?   Probably not.

This is where using ABS Business Sales will be to your advantage, to present your business as a whole and in the best light and to present your business’s competitive advantage. We sell the business as a whole, the tangible and intangible assets the make your business work.

We take the time to learn about your business, the market you compete in and the industry it operates in.

 

Do you know what the market value of your business is?

Do you really know what the market will pay for your business?

The danger of guessing, is discounting the price and leaving money on the table. If you price it too high, the business will languish and get little interest and waste the bona fide potential buyers that showed initial interest.

A business has to be priced realistically to meet the market.

Let ABS Business Sales with 28 years of market experience guide you through the process to ensure you get the value you deserve for your business. After all, you only sell it once.

 

Do you have the time?

With Gumtree you are selling it on your own, and dealing with the enquiries yourself as well as running your business. Some enquirers are serious, some are wanting a bargain, some are  hoping you will finance them, some dreaming of a better life and some are just hard work.  

When it is time to sell your business, use a professional business broker such as ABS Business Sales.  We will save you time by dealing with and vetting people to ensure they are real, capable, potential buyers with the financial capacity needed.

  • Do you really know how to sell your business?
  • Do you what a buyer’s needs are to make a decision when buying a business?
  • Like all things for sale, a buyer needs to see value and want to buy. 
  • We understand what a buyer needs to make a decision.
  • We present your business to show its value.
  • We know the process from initial listing to the settlement.

ABS Business Sales know what the buyer’s advisers such as accountants and solicitors want and need to make a positive opinion.

We will use our time to gather the necessary information to present and market your business to sell it to all involved in the decision.  A better presented business will sell quicker and for a better price every time.

 

Discretion

Do you want your customers and staff finding out that you are selling or do you want to control the sale process?

A good business broker is discrete and knows the importance of keeping the sale under wraps until you believe the time is right to disclose the sale to staff and important customers.

Sure, use Gumtree to sell your second hand car or the cranky mower, but your business?   No!   You put too much work building it to risk that. 

Use a professional that is on your side and working to get the best deal for you. ABS Business Sales will sell your business and let you move on with your life.

 

 

Andrew Dickson

AIBB Certified Business Broker - ABS Business Sales

Phone: 07 3368 4010

Mobile: 0448 082 663