There are many answers to this question, perhaps you should consider starting the process 2 or 3 years before you plan and intend to retire. If you are no longer motivated by the business or have taken things as far as you can, you should consider starting the sale process immediately. Talk to an expert business broker in confidence

It all depends on who you are talking too? A business is worth what a buyer is prepared to pay, however what they are prepared to pay is directly linked to the greater business opportunity they see with your business. No two offers from buyers are ever the same so you must put in the energy and time to talk to as many potential buyers as possible. Start with a business valaution and sale appraisal from BuyMyBiz Click here for your Free Online Business Valuation

High Success Probability - if you allow enough time for the full sales and marketing process, engage proven business sale professionals and have realistic sale price expectations. Low Success Probability - if you try to go it alone with no previous business sale experience, do not allow enough time for marketing or try to cut the corners. An unrealistic sale price will simply stop any sale process in its tracks. Talk to an experienced business sale expert about how they can secure the maximum sale price. www.vexus.co.uk www.buymybiz.co.uk

Probably 12 months, you may be lucky and find the right buyer sooner, however do not be disappointed if it takes longer than 12 months. If you allow enough time and manage your exit you will be successful. The sooner you start the process the better the end result. Remember you may be expected to provide an extended 'handover' after the sale to the new buyer so factor this into your plans. Talk to a business sale expert about deal timescales and handover.

That all depends on how you market your business, if you do nothing other than place an online advert on a general business for sale website, you will wait a long time to get no where. If you conduct a proactive direct marketing and advertising campaign direct or via your business broker you will achieve far greater results. All marketing must be conducted on a confidential basis. Depending on the business type, different approaches should be considered, talk to an experienced business deal maker for your best options.

Profitable, well managed businesses with growth potential are always popular and tend to sell quickly. Not only do they sell first, they attract a higher sale price for the vendor. You should start preparing your business for sale early. An experienced adviser will be able to help and guide you in preparing your business for eventual sale. Even if you do not sell, the process of fine tuning your business will pay dividends. You might wish to contact the Business Sale Programme who can help you.

No, all businesses given enough time and marketing effort will generate buyer interest, even if they are loss making.

There is a long list. The main items will include: Lack of management information Business is too reliant on business owner or a single client No business protection or low barriers to entry History of loss making Poorly presented Sale Memorandum Vendor trying to sell without professional help

Depends very much on the size of the business. Smaller businesses are likely to be purchased by first time entrepreneurs, employees, family members or a small trade buyer. Larger businesses will attract interest from larger trade buyers / corporates in the UK and from overseas and private equity.

Nosey neighbours, local competitors, buyers with no money or expecting to pay your for your business from future profits, time wasters and wantrepreneurs. Every business marketing will act like a magnet for people unable to purchase your business on fair or reasonable terms. You must have clear focus and the ability to identify the wrong purchasers and qualify out before releasing any confidential business information. An experienced business broker can take this problem away.

In most cases they would love to buy your business, the problem is they are highly unlikely to pay you a premium for your business. This is because they already know your business sector and simply will not associate as much value to your business as an alternative buyer looking to enter your market sector. Talk to a business sale expert about Financial Vs Strategic buyers.

You should look for a strategic buyer who wants to invest in your business and staff to grow the business to the next level. Try to avoid the financial buyers who are motivated by the reduction of costs by merging together two businesses.

Trade buyers acquire complementary businesses to 'bolt-on' to their existing infrastructure and clientbase. A target acquisition brings with it new products, services and employee skills to enable the acquirer to expand its business portfolio and to support organic growth.

No, this is because you should never give a sale price in the first place. Always invite written offers for buyers that are qualified and complementary to your business. Give them enough information so they understand your business and most importantly its future opportunity. Talk to Vexus about your negotiation strategy and how to secure a premium exit deal. www.vexus.co.uk

In a nutshell, the right business broker can secure you the very best deal for your business while you continue to run the business. They will guide and assist you from day one, right through to your business sale completion. They will find the buyer, deal with any time wasters and keep the sale confidential while extensively supporting you through the negotiation stages. Talk to an experienced business broker about what they can do for you.

Yes, many business owners sell without a broker, however the process will take up much time and money if you want to get it right. It is important to remember you only sell your business once and there are no short cuts or quick fixes. The DIY seller does not have the experience, knowledge, contacts or deal comparables. An experienced business broker is far more likely to secure you a premium deal. It is highly recommended to talk to a proven business broker before deciding how and when to sell your business.

As in all markets, there will be both good and bad operators. When selecting your business broker or any professional who will represent you and your business, you must ensure you meet the professional who will represent and act for you. Many broker firms will send out a sales person who you will never see or speak to again after you have signed on the dotted line. Make sure you know who will be ultimately responsible for your business sale and make sure you trust, like and respect them. Talk to them about your business sale expectations and ask direct questions about how they will add value to you sale process. It is recommended that you talk to no less than three brokers before making your decision. Choose a broker who is open, honest and that you are happy to work with for 12+ months, avoid the broker making unrealistic promises, however much you want to beleive them!

Always negotiate from a position of strength. When selling any business, you want two or more qualified and strategic buyers at the table, all of which are motivated to win and acquire your business. If you create competitive tension between multiple buyers, your final negotiation will be successful. Talk to an experienced deal maker about your best negotiation strategy.

You should always keep an open mind to the range of possible deal structures when selling. Most vendors want the maximum cash possible on completion, however a carefully structured deal could secure you a considerably higher sale price. There are many ways to structure the sale and your business sale adviser can discuss the options with you. Vexus has extentive experience is structuring business sale for their wide range of clients. Contact them is discuss your options in more detail.

When selling a business you need to consider your 'return on investment' rather than focusing on the cost of the fees. Engaging the wrong business broker might represent a 25% to 50% reduction on your negotiated sale price, yes I repeat 25% to 50%. Engage the best professional you can afford, not the cheapest. The final sale price of your business sale will be directly liked to the value you broker can add to the entire sale process. It is highly recommended to avoid any No Sale No Fee broker.

A professionally prepared document that explains the company history, a summary of financial performance and an indication of the future business opportunity. Enough content to encourage an interested buyer to want more and meet you the business owner. This document is normally complemented with a Confidential Business Summary which is used to generate buyer interest. Speak to either Vexus or BuyMyBiz who will be able to show you an example document.

Yes is the simple answer. Never provide any confidential business information to a potential buyer before they agree and sign your non disclosure agreement (NDA). It's just not worth the risk and it is the first step in qualifying if they are a serious buyer or if they are just fishing for information about your business.

Once you have found the right buyer and Heads of Terms are agreed, the formal sale process begins. The buyer will conduct 'due diligence' which is the process of them verifying to their satisfaction that the business is 'as expected' and there are no hidden surprises or 'skeletons in the cupboard'. This process will typically involve a financial, legal and operational review of the business and will involve your active input. During due diligence, the buyers solicitor will also prepare the Sale & Purchase agreement (contract of sale). Any property, HR or other areas will also be covered.

The written summary of the deal agreed and normally signed by both buyer sand seller. This is the start of the formal sale process, however this document is not usually legally binding except in the areas of confidentiality and sometimes exclusivity. Typically prepared by the adviser acting for the buyer or the seller.