5 Professionals Who Can Help Sell Your Business

by Vanessa Lovie 21st of January, 2025

Professoinals to help Sell a Business

Selling a business is not a process that you should go about alone. As a business owner you know how to run your business, but you may have never sold a business before. If you want to protect yourself from mistakes and make the process smoother, you should consider engaging these 5 professionals.

But the key is, to engage the right professionals and make informed decisions.

Yes your accountant understands financials and tax obligations, but they dont understand the current market. Yes, you may have a conveyencer who helped you buy your house, but they dont really understand the complexities of business sales, and the list goes on. So we will explore who you need, their experience and how to pick the right professoinal for your business.

Here are 5 Professionals Who Can Help You Prepare and Sell

1. Accountant - Your Financial Organiser and Tax Planner

Don't even think about selling your business until you have spoken to your accountant.

Even if you only speak to them once a year for your tax returns, you need to get an idea of your Tax Obligations before going to market. You need to have an idea of the best way to sell, and you need to get all your documents in order for the due diligence process.

So is your regular accountant the best option? I would say it depends. It depends on the size of business you are selling and their experience with business sales. Many accountants wont get involved in business sales, and will refer you to someone more specialised. Others will help you organise papers and understand your tax obligations.

Then there are your rockstar accountants who understand business sales and getting your business primed for the buyer, and making sure it is not only ready for sale, but ready for them to walk into a lender and get finance to buy the business - yes this important.

To make it a bit clearer, the primary role of an accountant is:

Prepare and organise your financial summaries.
Assess your tax obligations, including capital gains tax.
Identify opportunities to limit your tax liability.

We have a whole article written by an accountant on the role of an accountants so you can go deeper into all the services they can help you with.

While accountants are excellent at ensuring your financial house is in order, pairing their expertise with a business broker’s market knowledge will give you a more comprehensive understanding of your business’s value.

2. Business Broker - Your Sales Strategist

When it comes to selling a business, a business broker is your equivalent of a real estate agent. They are experts in navigating the business sale process and offer a range of services to ensure your business attracts the right buyer.

The key with choosing a business broker though, is choosing one who actually cares about selling your business. Remember, advertising on business for sale websites like bsale.com.au is not the only way to get a buyer. They need to actively think about strategic sales and approach potential buyers. They need to work for their commission and have a passion to get you the best possible price.

If you are looking for a business broker we have a whole guide on how to choose the best business broker.

Just to summarise, business brokers can:

Help prepare your business for sale
Assess your business and provide an accurate valuation.
Create and execute a tailored marketing strategy.
Handle enquiries and qualify potential buyers.
Negotiate terms and guide you through the settlement process.

Bsale’s find a Business Broker tool allows you to locate brokers specializing in your industry, whether it’s hospitality, retail, or manufacturing. Working with a broker ensures your business is positioned for success in the market.

"Getting the right professional advice early in the process is essential. A strong team of experts—accountants, brokers, and solicitors—can help you maximize your business's value and navigate the complexities of the sale." – Shweta Tripathi, Business Broker at Accelerate Business Sales.

5 Professionals that help you sell a business

3. Lawyer - Your Legal Protector

Legal expertise is a non-negotiable during a business sale. A solicitor will ensure all necessary documents are in place and legally binding, such as;

Non-Disclosure Agreements
Heads of Agreement
Term Sheet
Contract of Sale

Their role is crucial in protecting your interests and ensuring the sale complies with all legal requirements.

But the most important part here, make sure they have sold businesses before!

Not just one a year, or last year, or a small cafe. You want a commercial solicitor who understands the pitfalls and what can happen during the negotiation process. Your legal team are integral at getting deals over the line and creating the contract. Dont make the mistake of choosing just any lawyer.

In this article we go into more details about why you need a lawyer and what to look out for. Aspect Legal also go through 5 questions you should ask your potential legal team to assess if they are capable.

4. Marketing Platforms - Make Sure Your Seen!

Are all platforms created equal? No. Will some drive more enquiries than others? Yes.

What is important - is to have your business highly visible on ALL the major platforms. It makes no sense to limit your advertising to one or two websites, sit back and wait. You need to approach all the major players, see how to get upgrades, see how to get social media campaigns and market, market market!

Two Tips:

If you are selling privately, list on all the major sites. If you are going with a business broker, make sure they are putting you on all the major sites.
Upgrades! Dont let your listing fall down the pages. Figure out how much the upgrades are to keep your add at the top and visible.

So talk to the support team at these websites, see what they can offer you. How you can get your ad more visible! The benefit of these sites is they have active buyers looking for businesses to buy. The key is getting in front of the biggest audience so your business is seen.

5. Business Coaches and Exit Strategists: - They Help You Get Ready

Businesses are often referred to as an asset. I think as business owners we often forget this. We see it... as a business. It is something we can sell, but it is also something that can be harnessed and improved, with the intent to sell.

There are strategies to increase the value of your asset. Coaches and Exit Strategists can look at things like:

increasing sales
improving proft margins
reducing expenses
reducing loans and debts
reducing liabilities
hiring and firing staff

All with a game plan to sell in 6 months, 1 year, 3 years. Whatever your goal may be. These individuals can help you to prepare and get the business in the best possible position so you can sell for more. They can also help you look at ways to obtain a strategic sale. Timing is everything, and professional guidance ensures you’re not leaving money on the table.

The Power of a Strong Support Team

Think of your business as a child. They say it "Takes a village". When it comes to business sales this is very true. There are alot more complexities than real estate sales. You need a team to help you get ready to sell, go through the process, and reach settlement and hand over.

So if you are thinking about selling your business its a good idea to reach out to a number of these professionals to help you get on the right track, to make the most money when you sell. Remember, we have a comprehensive guide to help you when selling.

Originally published: 18/08/2021

Tags: selling coaching small business entrepreneurs