Why do I need a broker to sell a business?
Running your business is a full-time job and selling your business is a full-time job. Finding the right buyer is a challenging task and is direct function of the marketing exposure. Global Business Group can create an exposure much greater than any business owner on his or her own.
Can my business be sold?
Practically, any business can be sold. The real question is for how much and how fast. Global Business Group broker will help you to determine the right price, conditions of sale and will recommend changes that may be required in order to sell your business.
How much is my business worth?
Unlike any other merchandise on the market the value of your business depends on a buyer. If you ask twelve people about the value of a business, you will get thirteen answers. No one knows exactly what the business value is, but everyone has an opinion.
Global Business Group broker will thoroughly analize your financial papers, lease situation, marketing, competition and other factors, and help you to determine the fair market value for the business.
What geographical area do you cover?
Global Business Group sells businesses throughout Southern California, particularly in
Los Angeles County
Orange County
Riverside County
San Bernardino County
San Diego County
Ventura County
How long does it take to sell a business?
You can find the answer by reading this article http://www.gbgusa.com/articles/article/3550360/57736.htm
How will you promote my business?
Global Business Group (GBG) maintains regular subscription to major business listing services. The following marketing sources can be deployed to descretly market your business.
- INTERNET - GBG will place non-specific advertising for your business on a number of strategically placed Internet sites. The Internet advertising campaign will be specifically tailored to capture the highest level of qualified exposure as possible for your unique business. This customized campaign will be continually tracked through monitoring the number of hits and traffic to your ad. Refinements are made as needed to adjust to shifting traffic patterns.
- PRINT MEDIA - GBG will use print advertising as appropriate to market your business. This type of marketing is used in more of a general context to generate buyer traffic. Forms of print advertising include the local newspaper, and professional journals or publications.
- DIRECT MAIL - GBG has developed a database of thousands of qualified potential buyers. Using our proprietary approach, we tap into our existing relationships with potential buyers with interest in businesses that meet their criteria. Both printed mail and email blasts can be used.
- REFERRAL MARKETING - In addition to direct marketing to specific buyers, GBG has relationships with many professional associations that support a high membership of potential buyers.
What documentation is required for placing business on the market?
It is very beneficial having all necessary business documentation prepared in advance. Here's a checklist of most frequently required documents:
- Three years' profit and loss statements
- Federal Income tax returns for the business
- List of fixtures and equipment
- The lease and lease-related documents
- A list of the loans, if any, against the business, with amounts and payment schedule
- Copies of any equipment leases
- A copy of the franchise agreement, if applicable
- An approximate amount of the inventory on hand, if applicable
- The names of any outside advisors
Make sure the financial statements of the business are current and as accurate as you can get them. If you're half way through the current year, make sure you have last year's figures, and tax returns, and also year-to-date figures. Pricing a small business usually is based on cash flow. This includes the profit of the business, but also, the owner's salary and benefits, the depreciation, and other non-cash items.
Prospective buyers eventually want to review your financial figures. A Balance Sheet is not normally necessary unless the sale price of your business would be over the $1 million figure. Generally, buyers will want to see income and expenses to determine if they can make the payments on the business and still make a living.
