How to Sell My Business

Sooner or later every business owner begins to wonder: “How can I sell my business?”

The answer is quite a lot simpler than you’d think, and the best way to sell a business involves only one step. Before we tell you what that step is, though, let’s take a look at some of the common questions people ask about this topic.

Are there rules governing how to sell my business?

Yes, there is. There are many rules that can affect how, when, where and to whom you can sell a business.

There are restrictions on:

  • Selling any business to a minor, or to a person sufficiently mentally ill that would make such a sale be regarded as an abuse due to diminished capacity.
  • Selling a licensed business to a person who does not hold the appropriate license or would not be eligible for the license (transferring a license to a qualified but unlicensed person can take up to 12 months to complete).
  • Selling an insolvent business.
  • Selling an unregistered business.

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You should also know that after selling your business, you may be subject to “restraint of trade” provisions, which basically means that you can’t start up a new business in the same area that competes directly with the business you just sold.

The larger the business is that you sell, the more complicated the laws governing what you can do before, during, and after the sale become.

Can you tell me how to sell my business in Melbourne?

Selling a business in Melbourne isn’t extremely different to selling a business anywhere. The exception is for small businesses valued at $350,000 or less, where a special Victorian law requires completion of a Section 52 Statement.

Otherwise it is simply a matter of common sense. Get your business in order, make sure it is well presented, and continue running it to the best of your ability until it is sold. This will make your business attractive to buyers.

So what actually is the best way to sell my business?

At the beginning of this article, we told you there was just one simple step to selling your business, and now it is time to reveal the answer. It is as simple as contacting Trident Business and Corporate Sales, a top business sales agency in Melbourne.

Our business brokerage service has been providing the answer to “How do I sell my business?” for years, always providing the highest quality of service to our satisfied clients.

People sell businesses for many reasons, and the circumstances are not always identical. Where Trident Business and Corporate Sales excels in business brokerage is that we understand the needs of buyers and sellers. We go above and beyond to meet these needs, and we always achieve our goals.

If you have a Business for Sale or you are Buying a Business. Trident Business and Corporate Sales makes it easy. We are the Melbourne’s best Business Brokers & Business Sales Agents to get you the results you after. Our service is convenient, and contacting us is easy. You can phone us on 03 8687 2116 or email us at sales@tridentbusiness.com.au for prompt service and all the answers you need.

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