How to Make Your Business for Sale in Melbourne Attractive to Potential Buyers

by Vanessa Lovie 13th of June, 2022

Making Business for Sale in Melbourne Attractive to Buyers

Trying to get the attention of potential buyers means you need to have your opportunity ready to market. Preparing your business for sale in Melbourne will take a few steps, one of the most important is making it look attractive and being ready for the potential buyer to ensure a quick handover.

With the commonwealth games coming to Victoria in 2026, the Victoria chamber of commerce and local organisations are starting to prepare for the increase in tourism and opportunities during this world-class event. Preparing your business for sale in Melbourne now can ensure the new owners are ready in time for this major event, this could be an attractive feature for a new buyer.

Profit and Loss of the Business for Sale in Melbourne

Behind the glitz and the glam and the feel-good moments, buying an opportunity is all about the numbers. You want to know that the business for sale in Melbourne is delivering a good net profit to the owner. As a buyer, that is all they will really be looking at and placing their valuation on.

Whilst your cafe for sale may have a good street location, fancy chairs, and a cool Instagram page there is more to it. If the opportunity isn’t delivering on profit to the owner, then there is very little actual value in the cafe you are selling.

The value of a company is often based on the net income to the owner or may be referred to as the EBITDA or the earnings before interest, taxes, depreciation, and amortization. This is the figure that a company broker may use to provide an appraisal or valuation of a company.

The profit and loss, balance sheet and BAS are three of the main financial documents a buyer will want to look at when assessing the profitability of the opportunity and hence its value and the price they are willing to pay.

So, in order to make it more attractive to potential buyers, work on your bottom line, increase sales, lower expenses, and have a good few quarters and BAS statements to back this up. Getting your books in order is an important first step. This may take a few months but will make your opportunity more attractive and in a better position when you do place the business for sale in Melbourne.

Spring Clean

I know I just said it is all about the numbers, but the feel-good moments do matter. A buyer will want to enter your shop or location and feel like they belong. They want to feel like they can be the new owners and this is the right opportunity for them.

Look at cost-effective ways to make your business for sale in Melbourne appeal to a buyer, perhaps removing family photos or personal touches or adding a fresh coat of paint. If a buyer is looking for a retail shop for sale, let them feel like they can walk in and start running the shop and add their personality and touches.

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Remove Yourself from the Company

Are you working 10-hour days, 7 days a week? Does the Company fall apart when you take some time off? Then you have a problem that needs addressing. A business that is for sale in Melbourne needs to be ready for the new owners to walk in and continue to operate. The best way for this to happen is if it is already running under management and the current owner is working minimal hours. This opens the doors for the buyer and can make the transition to ownership so much smoother.

So, step back from your company, organise your management team, set up systems, and let it operate without you. This will not only help with the new owners stepping in but will also help you to detach from your day-to-day responsibilities and start to prepare for your life after you have put your business for sale in Melbourne.

Be Ready to Sell the Company

There’s no point placing your business for sale in Melbourne if you don't have all the paperwork ready. We’re talking about financial statements, lease agreements, contracts of sale, business memorandum and more. It's important to understand the selling a business process so you can have everything ready and not scare off a potential buyer because it took you too long to send some information across, this is not very attractive.

As the business owner, it is your duty to get your business for sale in Melbourne ready to sell. Whether you engage a broker or decide to sell privately a lot of the hard work is in the exit strategy and ensuring your company is in the best position. You want it to be attractive to buyers so that a quick sale can occur.

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