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)
