At JPAbusiness we know that professional, credible information is key to a successful business sale.
We also know that, as a business owner, you know your business better than anyone else.
The challenge, when it comes to selling, is that sometimes a business owner can be a little too close to the action to objectively describe and communicate their business’s key attributes to potential purchasers.
This is where an experienced business broker or advisor can help. A good broker will:
- leverage the owner’s knowledge of the business and their own market-based understanding of what purchasers are looking for to create a professional information package that answers a buyer’s critical questions;
- communicate the proposition in a way that reflects the business ‘in all its glory’, while ensuring the information is accurate and not misleading.
Whether you choose to market your business yourself, or employ the services of a business broker or advisor, it is critical that you provide information to potential buyers in a credible, professional and robust way.
A poor business profile, or information memorandum (IM), makes a buyer think:
- the business is being run unprofessionally; and/or
- they’re hiding something; and/or
- this process is going to be very costly for me as a purchaser because it will be like pulling teeth to get the right information.
We have created the JPAbusiness IM/Business Profile Checklist to help ensure you include the most important pieces of information when preparing to sell your business.
If you need help with any aspect of selling your business, from marketing plans and IM preparation to sale negotiations, please contact the JPAbusiness team on 02 6360 0360 for a confidential, initial discussion.
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