Selling Activities

Selling Activities

  • Determine how best to advertise your business, e.g. via your broker, online, in business magazines, newspaper advertisements or word-of-mouth
  • Meet with prospective buyers to show them the business premises, discuss the business operations and answer any questions they have in person
  • While you wait for a buyer for your business, continue to operate your business as usual. Don't allow it to decline
  • Consult your business broker or solicitor when negotiating any sales terms or conditions, e.g.
    • price,
    • training, and
    • transfer of leases or restraints on your activities after the sale
  • Take a holding deposit of 10% from the buyer to be held in trust by your legal representative
  • Have your solicitor prepare a contract for sale including the settlement period, (usually 30 days)

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