HKC Business Brokers offer an ‘end to end’ service to vendors when selling their business.
Whatever the business, we take a personal and professional approach combining honesty and integrity with a complete commitment to confidentiality. This is coupled with an inclusive and transparent approach to fees, so our clients always know where they stand during the sales process. It’s an ethos that means we’ll get to know your business, provide you with unlimited advice, excellent communication and importantly achieve the best sales result for you.
How we work
As Melbourne Business Brokers, we aim to help our clients secure sales at the right value, to the right buyer and at the right time. As a first step, we’ll hold an initial, free consultation at no obligation to you to gain a clear understanding of your business and its potential. We will then use our findings to supply you with a free indicative appraisal, allowing you to make an informed decision as to your next step. If you’re committed to selling with us, we’ll work closely with you from initial planning of the sale right through to sale completion. After consulting with you and confirming your sale terms, we’ll implement a full marketing plan and start actively seeking out buyers for the sale of your business.
The Process – In More Detail
The Initial Business Appraisal:
As the starting point we will need to understand the reasons for the sale and gain an understanding of your preferred exit strategy. We also need to take an overview of the business in order to advise as to whether the time is right to sell.
Many businesses are placed on the market without any preparation whatsoever. For example, does the success of the business depend on the current owner? What are the trading trends? Is significant investment going to be required in the short term? What are the relationships with key customers and suppliers?
The HKC Business Broker handling your account will give you a realistic assessment and if further work is needed prior to sale they will be able to give ongoing consultancy and advice to help you position for a successful outcome.
Once we are both confident that the business is ready for sale we will need to undertake a detailed appraisal.
This process will involve gaining an understanding of your market strength and position, your financial performance and your assets and liabilities.
In certain circumstances such as where there is substantial freehold property involved we may recommend an independent valuation of the buildings. A ‘bricks and mortar’ valuation will be required by your purchaser.
As soon as we are formally instructed we will produce an Information Memorandum for your approval. Once this document is approved the marketing of your business will begin.
Our marketing methods include:
- Extensive internet marketing campaign
- Approaches to purchasers registered with us
- Making confidential approaches to sector specific prospective purchasers identified by us
- Making confidential approaches to sector specific prospects we jointly identify with our client
Confidentiality is of paramount importance throughout the sale process. All potential purchasers are very carefully screened in order to ensure that they are both qualified and serious prospects for your business. Undertakings of confidentiality will always be required from all interested parties prior to any detailed information being released. In any event commercially confidential information will not be released without your approval.
Prospective purchasers wishing to make an offer for your business will be referred to us and we will negotiate the price and other terms on your behalf.
Heads of Agreement:
As soon as agreement is reached with a buyer we will draw up the Heads of Agreement document. This document will be used by the lawyers and other professional advisors to ensure that the contracts and other formal documents accurately reflect the terms of the transaction.
Your buyer will want to undertake some detailed Due Diligence. We will coordinate this exercise and will be available to try to ensure that any misunderstandings or issues are resolved quickly and to your satisfaction.
We will work with your legal and financial representatives in order to ensure that the transaction is completed effectively and in accordance with the timescale agreed.