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Business Brokers on the Sunshine Coast BizBrokers
last updated on February 5th, 2012  
Current Page Views: 2069748  
 
   Encompass Business Sales Sunshine Coast Australia
 
 

Chris Greenfield Principal of Encompass Business Sales Before you make
a decision to sell your business

by Chris Greenfield
Principal
Encompass Business Sales


Selling a business is complex and time consuming. It requires many stages of detailed research and thorough analysis of the business.

Along with a professional marketing and advertising campaign, selling a business is far more complex than selling most other products or concepts, including real estate.

To achieve this level of skill it requires the business broker to have:
  • Experience
  • Business analysis skills
  • Understanding of the business sales market – comparable sales
  • Timing of the market – whether it's up or down
  • Purchaser's expectations
  • Sales skills which include people skills
  • Negotiating skills
  • Administration skills
So what do you look for
to find the right person and company?


In a book I read not too long ago a statement in it said "there's no I in TEAM". At Encompass we really do work together. Although you may see one person 'in the flesh' on the day you appoint us, behind the scenes there are several of us working on your file.

The success of Encompass is due to the unity of the Sales and Administration teams. In a typical workplace these two 'beasts' don't usually get on. We regularly hold meetings together and discuss ways to make each person's responsibilities easier. All new Sales Consultants have to have a thorough understanding of our administration systems before they are permitted to start selling.

Once we receive all of the information, we collate it into an electronic file, which is accessible on the internet. The benefit of this of course is the file can be edited in real time from the office, on the road or from home. This provides the salesperson with instant access to your file from anywhere.

Most other Brokers do not operate their business listings or files in real time. They have to put an order through to their Webmaster and have them change the file. This causes delays and relies on the job getting done in a reasonable time.

Felicity is our Administration Manager and attends to all administration matters and monitors each and every file on a regular basis. Our systems automatically notify us if a file (business) has not been attended to for more than seven days. If this happens we obviously ask the Sales Consultant "what's happening?". This ensures all our Clients are looked after.

Another point of difference is our client notes, you can log on anytime and see the action of your file with comments and add your comments to the page. We also upload documents for your records, which saves you storing them.

My responsibility is to oversee and assist in all aspects of sales and administration, and to deal with contracts once they have been executed by both parties. I'm like the glue that keeps everything together. This frees up the Sales Consultant's time, so they can to get on with the business of selling and doing what they do best.

Another great service we provide to Buyers and Clients are qualified in-house Accountants and Tax Advisers (CPA), Financial Planners (CFP) and Lending Consultants.

The point of difference we have with lending is we can give people financial advice on the best way to structure your loan. Our AFSL licence permits us to give advice whereas most banks and finance brokers can't do this; you would have to go to a licensed person. This is where advice can become blurred.

At Encompass we have a business system, engineered to make the best use of systems to satisfy a Buyer's or Seller's needs. We take this business seriously and have invested heavily in ensuring we offer what it takes to get your business.

One of the nicest compliments I received was from an Accountant who has been on the Coast for many many years. He asked me if we have a position vacant for his son to learn business sales; "I know your business and feel it is the best business model in your industry."

Dealing in business sales is a profession unlike any other. We have to deal with Buyers, Sellers, Lawyers, Accountants, Landlords, Banks and other advisers. As I point out to all our clients, selling a business, or getting a signed contract, is easier than keeping the sale together through to settlement. So many things can go wrong, in particular the buyer getting talked out of it by one of the aforesaid advisers. That's the exciting part, keeping it together and seeing settlement take place.

So if you're considering selling your business, let Encompass Business Sales handle the transaction and enjoy stress free experience.

Chris Greenfield
Principal
Encompass Business Sales

 

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