Thinking of Selling?

If you are thinking if selling your Newsagency, there are a number of items you should consider before you list. Some basic “housekeeping” of your business can make the selling process a lot easier-

• Do you have accountants financial reports for the most recent financial years?
• Are you prepared for a comprehensive Due Diligence?
• Is your shop clean, well maintained and appealing to a potential buyer?
• Do you have a large amount of old or unsaleable stock?
• Is your lease current and ready for transfer?

These few questions are just the tip of the iceberg, but certainly need to be considered along with many more, the most important being:

• Are you appointing an industry specialist broker to help maximise your businesses appeal?
• Are you appointing an industry specialist broker to market your business?
• Are you appointing an industry specialist broker with a positive industry outlook?

Understanding the current market also helps achieve expectations. With that in mind, knowing in advance what a buyer will require for finance approval also improves your chances of a sale. An ANZ representative attended a FY2015 Business Brokers Conference, and gave the attached advice for Sellers.  It’s a very illuminating read.

Sellers Tip : Your latest tax return Profit & Loss statement is arguably one of the most important documents required in the sale process. We suggest that you have this prepared as quickly as possible each year (August September latest) so you can assess business value for sale purposes; but have your accountant hold the tax return for lodgement before deadline (May each year).

Preparation is the key when selling your business, and there is a lot more to consider than noted in this webpage. For a free copy of our Sellers Guide, and to discuss listing your Newsagency for sale with our  Newsagency Business Brokers, you can Click Here for a consultant to get back to you.