Linda Harley In recent weeks we have come across business owners who tell me they have a “private buyer” for their childcare centre, so would not require our services. In principle this probably sounds good to business owners with “no commission to pay”. In reality, and from my experience, they are unlikely to be achieving the best possible outcome for the sale of what is possibly their largest asset.
The sale of Childcare businesses is complex and requires expertise from start to finish. Engaging a specialist will ensure the process is managed professionally and you will know you have achieved the best possible price and terms and conditions, and perhaps most importantly are transitioning the business to the best buyer in the current market.
The sale process is a complex and sometimes emotional process. A specialist broker provides the expertise to manage the process and deal with the myriad of details that need to be addressed through the process.
The strength of our marketing process ensures sales are completed by working with a number of prequalified buyers before the final contract is confirmed. In most instances the sale is completed with a multiple offer, which gives the seller control on terms and conditions, price, and who they select as the buyer to take over the reigns of their business
If you only have one buyer, they hold the power and can attempt to “twist” the deal at the end of Due Diligence. In a recent sale, a buyer tried to renegotiate the terms on the last day of going unconditional, the seller could decline all requests with the comfort of knowing another buyer was ready to step in. The sale proceeded on the original terms and conditions negotiated.
Selling privately may be entering a minefield which could cost you much more than an Agents fee in the long run. Consulting with a business broker on the sale of your most important asset, manages the complete sales process and develops an action plan tailored to your situation, and your needs.
Talk to us if you are considering having your business appraised, it’s a painless process and doesn’t cost you a thing, and you may be pleasantly surprised at the value of your centre.
Linda Harley
