We buy and sell businesses as a part of The Finn Group. We’re your experts if you are looking at buying/selling a business in Canberra, Wagga/Wollongong, and the South Coast of New South Wales.
The button below will take you to our profile within The Finn Group’s website and includes information on all businesses currently for sale.
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Selling a business, much like starting one, is no easy task and can be surprisingly challenging to the uninitiated. If you are planning to acquire the South coast business for sale purposes, you must have a quick look at the factors which results in failure of selling a business.
Individuals can struggle to sell a business for a variety of different reasons. Some of which are unavoidable (e.g. economic recession, lack of demand in the industry, etc.) others can be circumvented quite easily. If you are planning to acquire a South coast business or list a South Coast business for sale purposes, we implore you to have a quick look at the factors which we believe are the biggest contributors to being unable to sell a business.
Why Businesses Remain Unsold?
- Prices More Than Expectations
It should come as no surprise that the main reason why many businesses remain unsold is due to overpricing. In nearly every market there exists a disconnect between the value an owner believes their product is worth (usually higher) and what the market is willing to pay (usually lower). To accurately determine the market value of your business and avoid overpricing you must consider a multitude of different factors such as gross sales, expenditures, assets, and market it operates in. Even healthy businesses with great potential to grow can suffer from gross overpricing, leading them to remain unsold for years.
- Obsolete Products
In the same way typewriters and cassettes have become obsolete nowadays, buyers will never be keen to buy a property which has no demand among the present consumers., From the seller’s point of view, he wants to sell because his market is drying up but they must also understand that buyers likely know this. Nowadays, due to the advent of technology making information more available than ever, it is difficult to fool a buyer into a bad investment. More times than not, buyers will conduct significant research prior to deciding to buy a business in Canberra
- Lack Of Interest
Think about a situation where you saw an advertisement stating “South coast business for sale”, and you try to contact the seller via phone or mail but he is not responding. This situation is more common than you think and goes to show that selling an expensive item such as business takes as much time, effort and research as buying one. It is near impossible for an unmotivated seller to successfully crack a deal in business.
- Cash Only Policy
Only accepting cash payments might also pose a problem for prospective sellers. As a seller, you must look for ways to facilitate the buying process, not inhibit it, which means it is in your best interest to be flexible enough to accept all modes of payment. Not doing so can be the difference between a customer choosing to buy a business in Canberra or passing on it.
Now there are plenty more reasons why businesses do not sell for extended periods, however, in our experience, these are by far the most common factors in a lack of success selling a business. Luckily for you, it is easy to avoid all these pitfalls by enlisting the services of business procurement experts such as Cancom. So if you are interested in buying a business in Canberra contact us now for exceptional services at an affordable cost. Hurry before the South coast business for sale offer expires!