When we list a business for sale, the seller always asks us, \u2018How long will it take to sell?\u2019\u00a0 This is a very \u2018open-ended\u2019 question and with an open-ended answer also.\u00a0 We always respond, \u2018How long is a piece of string?\u2019 because we can never be sure, even though there are certain parameters.\u00a0 If the business is priced very keenly, it will sell rapidly. However, very few sellers are that desperate to sell, that they feel compelled to price their business in the \u2018bargain\u2019 category.<\/p>\n
I sold a motorbike retail business last month that we first listed back in February 2015, 15 months ago.\u00a0 Naturally, the seller asked me the inevitable question to which I stressed that it may take a while to find the \u2018right\u2019 buyer.\u00a0 As a general rule, motorcycle businesses are only purchased by a buyer who has either been in that industry before, or has a keen interest in motorbikes.<\/p>\n
We had a steady flow of enquiries for the business, 48 in total, before we had a buyer sufficiently interested to go to contract.\u00a0 The financials of the business didn\u2019t reflect too well on the business, which is what turned most people off.\u00a0 But every business is saleable, if the price is right.\u00a0 The vendor saw sense and was more realistic about his opinion of the worth of the business, but only once a buyer had signed a firm contract.\u00a0 The market always rules when selling a business, and the market rarely gets it wrong, either.\u00a0 Once the seller sees the signed contract, with a deposit paid, it is a firm legal commitment for the buyer to hand over a big cheque for his business. It changes everything.\u00a0 This is reality, not hearsay or the opinions of accountants or bankers – it is going to happen.\u00a0 The seller \u2018met the market\u2019 and made the right decision to accept a price for his business that was below his expectations, but reflected what the market would pay for his business.\u00a0 It took a long time for the seller to be convinced, but the deal was done.<\/p>\n
The seller was ready to retire, the caravan was in the driveway and he and his new wife were ready to do \u2018The Lap\u2019 of Australia.\u00a0 The buyer was an experienced business owner, so he had no difficulty obtaining finance and convincing the landlord he\u2019d be a good tenant.\u00a0 As we suspected when we started the selling process, the buyer is a keen motorbike enthusiast and the idea of owning 28 motorbikes was very appealing!\u00a0 The new owner has the drive, the enthusiasm and the passion to take this exciting business to its next level of success.<\/p>\n","protected":false},"excerpt":{"rendered":"
When we list a business for sale, the seller always asks us, \u2018How long will it take to sell?\u2019\u00a0 This is a very \u2018open-ended\u2019 question and with an open-ended answer also.\u00a0 We always respond, \u2018How long is a piece of string?\u2019 because we can never be sure, even though there are certain parameters.\u00a0 If the […]<\/p>\n","protected":false},"author":1,"featured_media":884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,19],"tags":[],"class_list":["post-877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-news","entry","has-media"],"yoast_head":"\n