Business Brokerage .
Steve Skrlac, MBA, CFA
sales representative
.
Serving Toronto / GTA / Southern Ontario
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Selling a Business...
What are the options?
Business Brokerage Serving the Greater Toronto Area (GTA)
Focusing on Businesses Valued From $100,000 to $5 million
If you are thinking of selling your business please contact us for a consultation.
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Business Broker
Using a Toronto business broker (or "sales representative") to help you sell your business is an excellent decision. Business brokers are professionals that focus on the business sale transaction. Brokers are licensed in the Province of Ontario and must undergo educational qualifications in order to be able to buy or sell businesses. Brokers help business sellers in many different ways:
- Helps determine the selling price of a business
- Maintains confidentiality throughout the process
- Qualifies potential buyers for you
- Finds a buyer
- Helps facilitate with buyers
- Manages due diligence process
- Is a go-between for the buyers and the sellers
- Provides professional input
A business broker is the professional that focuses in business sales. If you are looking at selling a business, consulting with a professional would be a great first step.
Suppliers or Employees
If you are not overly concerned with maintain confidentiality when you are selling a business then you may consider talking to your employees or suppliers to see if there is any interest in purchasing the business. There are some great advantages to selling to suppliers or your staff – they know the business, they are familiar with the customers, there would be minimal training involved, due diligence might be a lot quicker and you already have an existing relationship with them. If you choose to try this route, there are some good selling business resources & articles that you can consult.
Word of Mouth
If you have a large enough network you might find that someone you know is in the market to buy a good business. Obviously you must not be concerned with confidentiality if you go down this route. Many times friends, neighbours or church members are in the market to do something entrepreneurial and just need the impetus to take the plunge. Spreading the word that your are selling a business might be the nudge that is required to get an offer on your business. If you do decide to try and sell on your own, there are some government resources on selling businesses in Ontario that may assist you in your effort.
Trade Magazines or Groups
If you are a part of an industry that has a trade group or publication that comes out that might be a good option for you to advertise that you are selling a business. Many time your competitors might be looking to expand their operations or get some synergies by buying a similar company so this might be a good resource for you to explore.
When you think it’s time to list your business for sale please think through all the options carefully and choose what makes the best sense for you.
Contact us if you're ready to sell your business.
We serve the Golden Horseshoe area including Toronto (GTA), Mississauga, Oakville, Burlington, Hamilton, St. Catharines and Niagara Falls, Ontario, Canada.
We serve the Golden Horseshoe area including Toronto (GTA), Mississauga, Oakville, Burlington, Hamilton, St. Catharines and Niagara Falls, Ontario, Canada.
