Selling a Business in Toronto & the GTA

Are you thinking of selling your business?

The Process To Sell Your Business Is Very Different Than Real Estate
Many people make the mistake of comparing the sale of a business to the sale of real estate.  The two are very different transactions that require a unique skill set.  Steve Skrlac has a depth of experience to assist you sell a business. 

Steve can outline to you the dynamics in the Toronto business market and can go over the risks and opportunities that exist when selling your company.

We Can Help You Determine The Listing Price For Your Business
Setting a listing price for your business is critical to the selling strategy.  If you list it for too high then it will be a challenge to attract good buyers.  Too low and you're leaving money on the table. 

We can also consult with you on the various other deal points in a business sale such as vendor financing, transition period, non-competition clauses, staff issues, and so on.  The sale of a business has many deal points to consider.

We Can Help to Find You a Buyer For Your Business
The pool of prospective buyers for a business that is listed for sale is much smaller than a pool of buyers for a house or other piece of real estate.  Because of this, the process of marketing to potential buyers and vetting out the qualified one from those that are merely 'kicking the tires' requires a level of experience that is cultivated over many deals and several years of experience.

Get a Better Selling Price for Your Business
By exposing your Toronto business for sale to multiple buyers on the open market, it can generate a higher overall selling price for the seller.  A business that has exposure to multiple buyers is better than a scenario for the owner versus one where the company may only approach one or two prospective buyers. 

Keep the Sale of Your Business Discreet
The majority of businesses listed for sale require that the transaction be kept discreet.  Professional business brokers can help you to maintain the confidentiality of the sale while still exposing the business discreetly to multiple buyers to generate the demand necessary to sell the business.

Please contact Steve Skrlac for a consultation on any questions about selling your business.

Be Prepared For the Sale of Your Business

One of the most common errors that owners make before they embark on the sale of their business is that they have not spent time to get the business prepared for the sale.  There is a significant amount you can do to add value to the process and show your company in the best possible light. 

Organizing all of your financial statements is a major thing that many sellers simply do not go to the trouble of doing.  One of the first pieces of information that a purchaser will request is to see the financial statements of the company.

Are there any process manuals or other operational documentation that you can get in order before you start meeting with buyers?  If so, spend the time and money to get this information up to date.

Is the business tidy or organized?  Does it show well?  Please remember that qualified business buyers will be getting tours of the facilities.  Ensure that they are clean.  If needed, put on a fresh coat of paint, organize shelves and invest the time to make sure that your business looks tidy.

It is also important to get yourself psychologically ready to sell your business.  Many owners believe that seller's remorse will not occur to them but it does happen occasionally.  Take an honest self-assessment to be 100% sure that the sale of your company is truly what you want to do.  The process to sell a business can be long and arduous so before you spend the money and time selling it, be 100% sure you want to go through with it.

Also, when you embark on the sale of your company, have a team of professional advisors assembled to guide you through the sale.  Besides talking to a business broker, it is highly recommended you talk to a professional accountant and lawyer very early in the process.  There are many ethical professionals in the GTA available to give valuable advice on selling a business in Toronto.  Try to deal with professionals with good experience in selling businesses.