How it Works for Sellers


So, you might want to sell your business?

The Biz.for.Sale concept aims to create a marketplace where sellers can provide details of businesses for sale in an environment where confidentiality is assured and the widest possible national market can access the information offered.

We provide users with simple search tools with which they can filter through the businesses on offer in order to closely match their requirements to your listing.

 

  Are You Actually Ready to Sell ?  

This may seem like an odd question, but it really refers to whether you have made the necessary preparations to ensure that you receive the highest possible price for your business. Some opinions suggest that with the right factors in price you could even double your anticipated selling price.

Once you have made the decision to sell; you need to prepare. This process could take a year or more - and you need to work at it constantly. Once it is completed you can look at starting the selling process. The preparation mode will generally make the business leaner and stronger and with each passing month you will be better placed to sell if you suddenly have to.
These considerations include assembling documentation, future staffing, financials, tax planning, customer control, legalities and recording processes. There is a lot to consider   -   and it will all impact the eventual buyer.

We have an excellent article which we urge you to read : How to Prepare Your Business for a Future Resale.

We would also recommend our nuts and bolts guide : How to Sell Your Business to make sure you have covered all bases..

 
  Confidentiality  

The nature of releasing information on the proposed sale of your company across the internet raises the possibility that your staff, creditors and customers could all react negatively to the information. It is therefore in the interests of all concerned to conceal your identity until such time as you decide to approach a prospective buyer.

When completing the form "Submit for Listing" you will be able to specify the level of confidentiality that you require and we will use that to determine what information is released should the visitor contact us directly. The implications of the choice are explained on the form.

It is your decision as to whether you contact the prospective buyer or not. Should you wish to conduct a short but anonymous correspondence then we can also assist in this regard.

 
  Costs  

All sellers are required to agree to pay a commission to Biz.for.Sale at the conclusion of a sale which results from an introduction which originated from the Biz.for.Sale website. This commission is based up a sliding scale which varies from 3% for sales under R 100 000 to as little as 0,75% for sales over R 1 500 000.

After submitting the details of the business being offered for sale you will be presented with an on-screen contract which you are required to print to your printer. You then need to sign the contract, have it duly witnessed and mail it to Biz.for.Sale. On receipt of the signed contract, we will release your database entry your "Business for Sale" listing will be visible to website visitors.

Should you be in a rush to have your listing published then you may fax the signed agreement through to us and we will publish the listing immediately on the understanding that the original signed agreement is en route to us in the mail.

You may inspect a copy of the Commission Agreement here.! Please contact us directly if you require an amendment to any of the terms.

Note to Business Brokers : A different agreement type (which enbles multiple submissions) and commission structure is available for business brokers. Please visit the Business Broker Services section for more details.

Listings will only be activated on our receipt of the agreement or bona fide evidence that the agreement has been signed.