Business Brokers in Victoria, BC

Preparing an exit strategy is essential to selling a business in Victoria, BC. In this phase, you'll start to consider the key details of your exit and form a timeline that answers questions like, "When is the right time to go to market?"; "What are my expectations for this sale?"; "How long will it take to sell?"; and "How much do I need to make off the sale of the business to live comfortably?".

Next, you'll want to consider who your successor will be. The best possible buyer could be a family member or an existing employee. Additionally, it could be a person or group motivated by strategic, financial, or synergistic reasons. Consider your options and think about what type of acquisition would be best for the future of the business and its employees.

Setting an asking price is a complex process because so many variables determine the "real value" of a business. Also, the company itself tends to be worth a lot more to an owner than an outside party.

Because of this, it's best to request an Interpretation of Market Value by a third-party. Valuation services understand that financials are just one of the dozens of drivers that determine value; they also look to the business itself and its market space, any realistic growth potential, current market conditions, and much more. With an unbiased valuation of your company, you can easily select a Most Probable Selling Price.

Marketing a business for sale in Victoria, BC requires a "passive" and proactive approach, which can be a fine line to walk on. This is why many business owners find that it's easiest to hire a business broker or M&A advisor. Not only do Victoria business brokers and M&A advisors have an extensive pool of interested buyers, but they can also reach your potential targets with complete confidentiality.

To find a business that you are a good fit for, you need to determine what factors are most important to you. Some important criteria to consider are financials, location, and industry, as well as business size and growth potential. While it helps to be open-minded and realistic throughout the search process, you'll want to narrow down your preferences to segment your available opportunities better and move forward more quickly.

If you intend to buy a business in Victoria as quickly as possible, you likely want to embark on a more proactive search and acquisition process. This entails a laser-focused approach in which the buyer party is reaching out to sellers with related geographical, financial, and industry-related criteria. (One of the major advantages of working with a business broker in Victoria is that they often have connections to opportunities that are not listed on the market!)

Do some research to determine this industry's market trends within Victoria, Vancouver, Kelowna, and other surrounding cities. Consider the current demand for your industry and how it is slated to perform long-term. Pay attention to the industry's growth potential in the local market and through online sales. If the market is already trending upward, think about what it would realistically take to compete.