SELLERS MYTHS and SOLE MANDATE WITH FBiG -
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Reasons for awarding a Sole Mandate to FBiG:
MYTH NUMBER ONE ..... No-one will want my business!
The fact is - for every business that is listed, there are at least 5 people looking to buy a similar business.
MYTH NUMBER TWO.... Buyers don't understand the true worth of my business!
Buyers are usually educated and knowledgeable regarding businesses, but each may have different reasons for their interest. One may just require the assets to expand their business; another may think it is strategic to their future goals. Each buyer has their own idea regarding the value of your business.
MYTH NUMBER THREE.... I just need to find that one buyer!
True - but unrealistic! A seller needs to be prepared to sell with realistic expectations and supporting documentation that will meet the buyer's requirements.
MYTH NUMBER FOUR.... The business is doing well - I don't need to sell!
The best time to sell your business is when you can present a track record of growth and ever increasing profits, to the potential buyer. Some owners don't sell because they are concerned regarding what they will do next. Depending on the nature of your business, management contracts may be a viable way to stay involved and help the new owner meet future goals.
MYTH NUMBER FIVE.... I am an absentee owner/silent partner and only break even, so my business is not worth anything!
Untrue! Absentee ownership presents a lower risk to the buyer. They do not have to know the business intimately to own it. Buyers can take the place of key employees and earn greater returns.
MYTH NUMBER SIX.... I can't do this to my employees!
In most cases, it is important to the buyer that the employees stay on. Also - new ownership can present new opportunities for the employees.
MYTH NUMBER SEVEN.... I don't need a Broker as I don't plan to sell for a year or two!
Wrong! A broker can provide you with the knowledge of what you and your company need to do so as to prepare your business for sale. It is never too early to plan your exit strategy. A Professional from Fair-Bro International Group is willing to take on such a relationship and will guide you through the process and prepare your business for selling, sometime in the future.
No matter what your reason for selling might be - appointing a FBiG Professional to help you compile, market and present your business to it's greatest potential, is key. Using FBiG to guide you through the process, will provide you with the assurance that your personal and business information will only be provided to qualified buyers in terms of the strictest confidentiality.