Secretarial Firm for Sale in Singapore – Here’s What You Need to Know to Walk Away With Success
There is one thing every seller needs to do before putting a business up for sale – think. Think long and hard about what needs to be done from start to finish. Singapore’s mergers and acquisitions value is a growing industry, and in 2015 alone rose to $142 billion.
There are many types of businesses that go on sale every year. One example being secretarial firm for sales in Singapore. Not every business would operate in the same mode of selling. The selling points would be unique to the business. Would you know how to go about buying or selling a secretarial firm?
Buying and selling a business is more than just putting up an ad for sale and waiting to trade dollars and cents with the person who is interested in buying your business. Do due diligence and ask the all-important question before anyone else takes another step – why is that business up for sale?
What Makes a Sale More Attractive?
Let’s say for example you have a secretarial firm for sale in Singapore. What factors are going to make your company more attractive buying options for potential buyers?
There are only three main things that matter when it comes to offering something for sale:
- Does it have a consistent increase in profits?
- Does it have existing major contracts and a loyal customer base?
- Is there a consistent increase in income numbers?
And the answer to all these three needs to be – yes. Nobody wants to buy a failing business.
What the Selling Process Involves
If you have a secretarial firm for sale in Singapore, there are five things you need to do during the selling process to ensure that you walk away with a success:
- Secure two or three potential buyers in case one of the buyers don’t follow through with the sale at the last minute. Always have backups just in case, because the last thing you want to do is to be stuck on the sale with no prospective buyers on the horizon and you’re back to where you started again in the sale process.
- Communicate constantly with your buyers. Always keep them up to date on what’s happening and don’t wait for them to come and ask you before you give out any information. This creates a good rapport between the buyer and the seller, and the chances of a successful sale are higher.
- Determine that the potential buyer qualifies for the financing before making any deals. Otherwise, you’re going to be wasting a lot of time going through the entire sale process making sure everything is in place only to find out at the end that the sale can’t be done.
- Put all agreements in writing. It is very important to keep records for a big transaction like this. A secretarial firm for sale in Singapore, or any kind of firm for sale really, is a major decision and you need to document and keep records of everything in black and white as proof of what has been agreed upon or taken place.
- Potential buyers must sign non-disclosure and confidentiality agreements to protect the privacy of your business dealings.
If you are interested in selling a business in Singapore, read more from a local corporate service provider in Singapore who can assist you along the way.