It probably means the buyer hasn’t understood their accountant’s advice, but it could also mean …
Category: Faqs
What does it mean when a business is sold as ‘a going concern?’
Basically, a going concern means the business is still trading and generating revenue, rather than …
I can’t find a buyer for my business. I keep being told that the ‘right’ buyers can’t afford it, and those that can afford it don’t have the right skills to run the business. What should I do?
This problem isn’t as uncommon as you might think. I have seen this arise with …
What is an Ugly Baby?
For every parent, their baby is gorgeous. It is preprogrammed into humans to love and …
The broker has quoted us a fee of 9% commission to sell our business. Can we negotiate this fee down?
Yes, the brokerage’s commission is negotiable prior to signing the listing form. Commission rates for …
I just signed a listing agreement for my business. The asking price is about $1.5M. The broker insisted on keeping their minimum fee in the listing agreement. Why?
There are two reasons for this. The first is that brokers typically can’t alter the …
The commission to sell my business will be $80k, half to the broker, half to his firm. Can I contract the broker directly and pay less commission?
Basically, no, you can’t bypass the brokerage. Brokers fall under the Real Estate Act (2008), …
I want to sell my business. Do I need to involve a lawyer?
No, you do not have to use a lawyer when you sell your business, but …
I have spent nearly four years getting my business going, and it has cost me around $400,000 so far. It is just breaking even, but I need to sell. What is a fair price?
This is a common situation that start-up owners face, and most don’t like the answer. …
The person buying my business wants me to hand over my mobile phone as part of the deal. Is this fair (and normal)?
When buying or selling a business, what is and isn’t included is up to the …