Frequently Asked Questions
Is there a typical timeframe for a sale process?
It's not possible to put a timeframe on how long it might take to find a buyer for your business. That depends on the type of business, the location, its financial status and the demands on price. Some businesses may last on the market for substantial periods of time. Market statistics also show that some businesses never sell, this is particularly true if the price of the business is out of step with the appraisal and market for similar businesses. Finance institutions certainly will not lend against a business that has a price elevated well above the proven current and historical return. At MNC Business Brokers, we will not engage with sellers and list businesses that have unrealistic price tags attached.
From the time and offer is accepted, a usual timeframe for completion and settlement is around 10 -12 weeks but this can vary depending on the business in question.
Is there a hand over period?
This is something that is negotiated during the sale process. It is usual for the vendor to remain in the business for some period of time to allow a hand over and smooth transition or to provide some level or orientation. They may even remain on a "call" basis to offer advice for a specified period of time as part of the negotiation at settlement.
When is my stock valued?
Stock is valued at the time of settlement. The value of stock is added onto the agreed sale price. (SAV).
How Will My Practice Be Marketed?
We have an existing database of buyers looking to make purchasers, however in many cases, the business will need to be taken publically. At the time of listing, we will discuss and agree upon a sales listing plan that might include a combination of print, digital and social media.
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