Often businesses that are going to be sold in the near future can be identified by how motivated the seller is. Sellers that might be willing to sell, are those:
- Who are looking at retirement, or are ill, and need an exit.
- Owners that have been working in the business for a long time.
- Companies that are recorded in regulator notices which have poor financial performance and already have an administrator appointed.
- Companies that have already proceeded into liquidation.
- Companies or businesses looking for funding.
- Businesses that are going through changes, either with new leadership, new products or have just announced a new strategy.
To find a motivated seller Businesses:
- Look for businesses listed for sale in trading posts or magazines such as Australian Business for Sale.
- Speak to your accountant or lawyer they might have direct contact with motivated sellers.
- Network at industry events and get to know people
Sharon Robson
Antler Legal
www.antlerlegal.com.au
The following extract has been taken, in part, from the book, ‘Entrepreneur Know How – Mindset and Winning Steps for Buying a Business,’ written by Sharon Robson (Available through Amazon and select bookshops). See: www.entknowhow.com/the-bookstore/