Ontario Business Brokers
Business for Sale in Toronto, Hamilton and surrounding areas in southern Ontario, Canada. We are a full service business brokerage here to help you buy or sell a small business.
What are the Options?
The decision to sell your business is a milestone. Selling a business that you have worked so hard at and so long for is difficult for many people. However, when you do decide that the time is right to sell then you must do everything you can to ensure that you get the best value for your hard work. There are different routes you can take to selling a business. You can use the services of a professional business broker, try to sell it privately or try some different avenues. This article will quickly explore the different ways to go about selling a business and hopefully it gives you some insight into the process.
Business Broker
Using a business broker to help you sell your business is an excellent step to make. Business brokers are professionals that specialize in the business sale transaction. Brokers are licensed in the Province of Ontario and must undergo educational qualifications in order to be able to buy or sell businesses. Brokers help business sellers in many different ways:
- Helps determine the selling price of a business
- Maintains confidentiality throughout the process
- Screens potential buyers for you
- Finds a buyer
- Helps facilitate with buyers
- Is a go-between for the buyers and the sellers
- Provides professional input
A business broker is the professional that specializes in business sales. If you are looking at selling a business, consulting with a broker would be a great first step.
Suppliers or Employees
If you are not overly concerned with maintain confidentiality when you are selling a business then you may consider talking to your employees or suppliers to see if there is any interest in purchasing the business. There are some great advantages to selling to suppliers or your staff – they know the business, they are familiar with the customers, there would be minimal training involved, due diligence might be a lot quicker and you already have an existing relationship with them.
Word of Mouth
If you have a large enough network you might find that someone you know is in the market to buy a good business. Obviously you must not be concerned with confidentiality if you go down this route. Many times friends, neighbours or church members are in the market to do something entrepreneurial and just need the impetus to take the plunge. Spreading the word that your are selling a business might be the nudge that is required to get an offer on your business.
Trade Magazines or Groups
If you are a part of an industry that has a trade group or publication that comes out that might be a good option for you to advertise that you are selling a business. Many time your competitors might be looking to expand their operations or get some synergies by buying a similar company so this might be a good resource for you to explore.
When you think it’s time to sell your business please think through all the options carefully and choose what makes the best sense for you.
Contact us if you think you're ready to sell. We serve the Golden Horeshoe area including Toronto (GTA), Mississauga, Oakville, Burlington, Hamilton, St. Catharines and Niagara Falls.
- Related Videos
- Related Articles
- Ask / Related Q&A
Advertise Your Business With Stickers
By: Alex Weidmann | 02/01/2010Stickers are an increasingly popular advertising medium. The large range of applications and the diverse applications are a great indication. Everywhere where you want to advertise your sticker will find a suitable spot. Labels can be used as a giveaway, advertising stickers, product labeling, club stickers or address labels.
Generate Income Online By Selling What People Want
By: Xavier Troy | 01/01/2010Hitting the profitability jackpot when it comes to selling products and services that people will buy takes a little more than just grabbing an affiliate link and snapping a banner onto your blog.
Make Money In 2010 With Your Own Home Based Business! Do Not Be Broke And Struggling Any Longer!
By: Father Time | 01/01/2010You can easily sell merchandise from catalogs to people you know!
How To Detox Your Body Through Yoga
By: Michelle Spencer | 01/01/2010Yoga is the physical version of the most calming meditation techniques. You use your body to effect a change on your mind and body instead of simply your breathing. But be warned - yoga is not just a simple form of exercise for stretch 'n' tone. Some of the more advanced techniques took as if they are completely above and beyond the bounds of human flexibility but they really are quite possible if you take the time to build up to them gradually.
Where Did UGG Classic Tall Boots Come From?
By: face | 31/12/2009Desks are made of wood. Everything has its original recourse. Just think of wearing Ugg boots at the beach. Oh…did I sound nuts! Well, not…because that's how these boots came into existence and became popular within a short span of time. Can't you believe it? Well let me explain you in short how it happened. It was during Seventies that these boots became more prominent among the surfers of Australia.
Wind Safe Inspection: A Tough Shield Against Hurricanes
By: Phill Jaques | 31/12/2009The advantages of 4 point home inspection are undeniable. It has played a crucial role in ensuring safety of life and property and is indeed the best small investments one can make in life for one’s family.
Quick service restaurant, it becomes easy every transaction is recorded in one place
By: David LaCroix | 31/12/2009For a quick service restaurant, it becomes easy every transaction is recorded in one place so that you can check your balance sheet frequently. Not only you record every transaction in your business, with the restaurant software, you retain customers’ satisfaction also.
4 Simple Steps to Building a Perfect ESCALATOR – not Elevator- Speech for Tele-Sales
By: Jim Domanski | 30/12/2009On the telephone prospects don't have time for a classic 'elevator speech' and that's why you need a more abbreviated version called an 'escalator speech.' This article provides you with 4 simple steps to create a powerful and compelling escalator speech.
How a Business Broker can Save a Deal
By: Anne Brown | 21/12/2009 | BusinessSelling a business is a process that is unlike the sale of a building or land. A business is typically sold as a going concern. As such, there are many points throughout the process where a deal can fall apart. A buyer may see something in the financial due diligence that causes some concern, there may be a miscommunication, a financing issue or perhaps a simple case of cold feet. A business broker should be able to address each concern with a sense of professi
Business Brokers Assistance with a Letter of Intent
By: Anne Brown | 18/12/2009 | BusinessMost LOIs are non-binding in that both parties to the transaction are not obligated to the terms contained therein. The only two common terms that may be binding are exclusivity and confidentiality. Exclusivity means that the seller may not shop the business to other potential purchasers during the period of the LOI. Confidentiality refers to the buyer and seller not disclosing the terms of the letter of intent to other parties.
Why Business brokers leave their profession
By: Anne Brown | 01/12/2009 | BusinessThe field of business brokerage has many positive attribute that attracts many would be ‘business brokers’ to the profession. The potential earnings are lucrative, the hours are flexible and the ability to meet many interesting people and companies can be quite stimulating.
Business Brokers and Geographic Market
By: Anne Brown | 23/11/2009 | BusinessOften, people will confuse the profession of business brokerage with the sale of real estate. Although there are similarities on the surface, there are in fact many differences. Business brokers usually serve a much broader geography since, unlike real estate; a business broker needs to understand a company along its industry and valuation parameters.
How to select a Business Broker?
By: Anne Brown | 17/11/2009 | BusinessIf you are a businessperson thinking of selling your company, the business broker you decide to work with is an important decision to make. Your relationship with this professional may last several months so it is important that you choose wisely. This article will go over some of the main criteria to think about before you finally select the business broker to work with.
Career as a Business Broker
By: Anne Brown | 09/11/2009 | BusinessIf you are interested in starting a career as a business broker in Canada there are some very exciting attributes to the profession. There are also some realities that you must understand before embarking on a career in business brokerage.
Net Asset & Goodwill Valuation Principles for Selling a Small Business
By: Anne Brown | 31/10/2009 | BusinessWhen you consider selling a small business, there are a few ‘typical’ ways in which a small business can be valued. One way is to determine the net vale of the business’s tangible assets such as equipment, machinery, inventory, furniture, etc. Another ‘typical’ way a small business is valued is on the basis of a multiple of Seller’s Discretionary Earnings (SDE).
Knowing when to accept a business sale
By: Anne Brown | 26/10/2009 | BusinessIt has been said many times that selling a business is an emotional process. As an owner, you must know well in advance what is important to you and also be somewhat flexible on deal terms if you want to successfully sell your company. When an offer to purchase is submitted for your company, you may very well be disappointed with the first offer. As the owner, it is your prerogative to accept, reject or counter on any offer you receive. No matter how you proceed though, it is important to