The Seller’s 10 Commandments

1. The Seller’s 10 Commandments
BY
http://benchmarkbusiness.com.au

2. 1.Thou Shalt Not be Greedy
- Buyers look at many businesses before buying. Offering reasonable
price and terms will get a prudent buyer’s attention.
2.Thou Shalt Have a Good Reason for Selling
- After the buyer asks “How much?” the next question is “Why is the
seller, selling?”. The reason must be logical . . . to the buyer.
3.Thou Shalt Provide Proof of Profits
- All books and records should be clear and readily available.
Contact Info:
Broker Support Centre, Suite 104, Bermuda Point, 20 Lake Orr Drive. Varsity Lakes, QLD 4227
Australia
http://benchmarkbusiness.com.au/

3. 4.Thou Shalt be Willing to Train
- Most of those purchasing a business are first-time buyers and will need
a minimum of two weeks training.
5.Thou Shalt Provide a Covenant Not to Compete
- Buyers want to make certain they will not be competing with you for
the same customers.
6.Thou Shalt Provide a Complete List of Assets
-Buyers want to know what they are buying before making an offer.
Contact Info:
Broker Support Centre, Suite 104, Bermuda Point, 20 Lake Orr Drive. Varsity Lakes, QLD 4227
Australia
http://benchmarkbusiness.com.au/

4. 7.Thou Shalt Keep thy Business in Good Repair
- Clean, neat appealing businesses sell.
8.Thou Shalt Prepare the Landlord for the Sale
- Landlords can be real ‘deal killers’ and buyers need to know if the
lease will be assigned or a new lease will need to be negotiated.
9.Thou Shalt Avoid Surprises
-Surprises tend to destroy the buyer’s trust and will send them
running, not walking, to another opportunity.
Contact Info:
Broker Support Centre, Suite 104, Bermuda Point, 20 Lake Orr Drive. Varsity Lakes, QLD 4227
Australia
http://benchmarkbusiness.com.au/

5. -10.Thou Shalt List with an Experienced Business Broker
-- Specialist business brokers add value to the process because of their
appraisal and negotiating skills and their multi-pronged marketing
strategies. Brokers can also “recast” financial statements, qualify
buyers, maintain confidentiality and identify hidden ‘intangibles’.
-Bruce Rylance
-Business Broker
Contact Info:
Broker Support Centre, Suite 104, Bermuda Point, 20 Lake Orr Drive. Varsity Lakes, QLD 4227
Australia
http://benchmarkbusiness.com.au/