Frequently Asked Questions

Why should I list my business with Brilliant Businesses?

At Brilliant Businesses, we like to do things differently.

We deliver a complete business sale solution to get you the best possible price we can in the shortest possible time.

We deliver outstanding return on investment to successful businesses selling for in excess of $250k.

Our 5-step process puts your business one step ahead, delivering an end-to-end sales solution.

How much does it cost to sell a business?

After any initial marketing costs have been agreed, Brilliant Businesses only charge a commission after a successful sale. The commission that we charge is based on the scale of the business and will be agreed prior to going to market and detailed on our Agency Agreement.

Does Brilliant Businesses have a listing fee?

We don’t charge a listing fee as such, but in much the same way as you cover marketing costs when you sell a house, we do ask for payment for the creation of a bespoke For Sale website and digital advertising.

The returns on this investment can be huge because not only will it attract a buyer for your business but it also generates great exposure as an additional benefit. We have had several vendors see an increase in business activity during a sales campaign and they have been very happy to bring new customers on board.

When do I engage a lawyer?

You will need to appoint a lawyer after you have reached an agreement with the purchaser.

Your broker’s job is to facilitate negotiations between yourself and the purchaser but your lawyer will need to prepare the Contract for Sale of a Business and will assist with the transfer of the lease and any licenses, since those are legal matters outside the scope of a business broker’s involvement.

Can I sell my own business?

Legally yes, but again it’s a bit like selling a property. By engaging the services of a professional, you’ll dramatically increase your chances of success.

Because running a business and selling a business are actually two totally different skills, most business owners use a business broker to sell their business.

How long will it take to sell my business?

Most businesses can take anywhere from four months to over a year to sell, but because every business is unique there are many variables that can impact the time it takes to sell, as well as the final price achieved.

Here are some of the factors that will affect how long it takes your business to sell, as well as ways your business broker can help you to make your business easier to buy – and therefore quicker to sell.

What is my business worth?

What you think your business is worth and what potential buyers think your business is worth are usually two quite different figures!

When you approach a business broker to value your business, there are several possible criteria they will take into consideration when valuing your business.

Brilliant Businesses has the market knowledge and experience to know the best way to value your business and to help you decide the right price when selling your business.

Our expertise can be invaluable in providing you with a neutral and unbiased perspective and can help you set the right price when selling.

How do I know if my business is ready for sale?

Just because you’ve decided it’s the right time to sell and you’ve emotionally committed to selling… it doesn’t mean your business is ready for sale.

Being prepared to sell your business and your business being properly prepared for sale are actually two totally different things.

Before you decide on an approach to sell your business, take a look at the five things you need to do to ensure your business is really ready to sell.

What does a complete business sale solution really mean?

When you work with Brilliant Businesses you can expect us to be committed to delivering a complete business sale solution. We’ll get you the best possible price we can in the shortest possible time.

We get results by working through our 5-step process to a successful business sale.

What do I get for my money?

There is actually so much more to selling a business than simply listing the business for sale, waiting for a buyer to come along and negotiating the final price.

A professional and proactive business broker will also provide you with an extensive range of brokerage services that put you in the very position to find yourself a buyer who is willing to pay the highest possible price for your business…

…well before that final shake of the hand and the signing on the dotted line.

What do I need to do before I list my business for sale?

Selling your business can be a complex, time consuming and challenging task, which is why it’s very important to plan ahead and get the groundwork right.

So before you decide to list your business for sale, take a look at the 10 things you need to do BEFORE you list your business for sale.

How will Brilliant Businesses help me prepare my business for sale?

The five key areas of business sale preparation include strategic, financial, operational, physical and emotional preparation.

Well before your business actually goes to market, we can provide valuable input and a fresh perspective to help you assess just how prepared you really are to sell your business.

When is the best time to sell my business?

Your business will be far more attractive to buyers, and therefore easier for you to sell and realise its true value, when your business has a healthy balance sheet, sales and profits are strong, the economy is booming and financing is easy to obtain.

Unfortunately, these are the times when selling can feel counterintuitive … you will naturally want to hold onto a profitable business that you love working in. However, here’s why these are actually the best times to sell your business.

How can I make my business easier to buy?

If you’re trying to sell your business, it’s highly likely that any potential buyers are also looking into other businesses for sale as well.

After all, at any one time, there are thousands of other businesses on the market, all competing for that elusive buyer.

One way of ensuring your business is more attractive to any potential buyers is by making it easier for all parties to access, to understand, and to respond to, all of the necessary financial and legal documents.

How can seller financing help me sell my business?

Whether you call it seller financing, vendor financing, or owner financing, it’s actually the same thing…

…a loan provided by the seller of a business to the purchaser.

And although this might sound counterintuitive at first, you might be surprised to discover that the vast majority of business sales (around 70-80 percent of all transactions) are financed in this way.

Got any other questions?

At Brilliant Businesses we’re here to help!

We’d love to work with you to deliver a complete and innovative end-to-end solution for the sale of your business.

Contact us now.

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