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Trading Post Member
 
Group: Forum Members
Last Login: 16/09/2008 1:59 PM
Posts: 7,
Visits: 2
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Hi, I'm selling my business on Trading Post and was wondering what anyone's views were on business brokers? They seem to charge about 5% but want a cash sum up first. After they get their cash...am I going to get my moneys worth? The ad is here
http://www.tradingpost.com.au/Business-Office/Business/Businesses-for-Sale-Lease/AdNumber=TP000459075?BackToResult=true
Thanks for all your help! 
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Trading Post Newbie
Group: Forum Members
Last Login: 4/05/2009 5:54 PM
Posts: 2,
Visits: 1
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| Hi there, I used a business broker a few years ago and found out afterwards that he was working for the other person not me! I found out when I went to collect my payment, which was significantly reduced that he had a clause in there NOT in my favour. Make sure you have an independent solicitor to read the fine print. I now run a business that I never want to sell!
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Trading Post Newbie
Group: Forum Members
Last Login: 1/02/2010 9:42 AM
Posts: 1,
Visits: 2
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I have sold many businesses through business brokers and they can be dammed expensive if your business is not ready for sale. The best advice I can give is to plan ahead and make sure and that all your systems and procedures and accounting etc are in order.
No one is going to buy a business based on potential. You will achieve best price if the buyer can see that everything is in order and that there is nothing lurking in the closet.
In my experience business brokers will request that you pay money towards advertising, this being the case if the business is not saleable then all your adverting money will go down the drain.
Choose your business broker carefully as there are good and bad!
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