So — a buyer’s shown up. They say they’re interested. They’ve asked for numbers. Maybe they’ve even floated a price. That’s a great position to be in. But here’s the mistake too many owners make: they think a known buyer means they can skip the broker. They shouldn't. Whether it’s a competitor, a management team, or an interested party from your network — having a buyer on the radar changes nothing about what it takes to get a deal done properly. In fact, it’s when a buyer is

After years of brokering business sales, one thing keeps showing up. The buyers who actually get deals done tend to have four things in place. When one is missing, the deal often stalls or falls over. Conviction The buyer has to genuinely want the business. Mild interest is not enough. Every deal comes with uncertainty, delays and moments where it feels easier to walk away. Buyers with conviction keep going. They have decided this opportunity fits what they want, and they are

Data source: Pepperdine Graziadio Business School Private Capital Markets Report 2024 unless stated. https://digitalcommons.pepperdine.ed...

One of the more persistent myths in Australian business sales is that you must allocate part of the purchase price to goodwill in the...

In today’s business sales market, vendor finance can sound like a clever workaround to the classic “I need more capital” problem. But in...

Where Did the Goodwill Go Owners of stock heavy businesses often get a shock when they go to sell. They expect the price to include a solid goodwill component, but instead find that much of the deal value is really just stock, equipment or working capital being handed back to them in another form. That is a common issue in businesses like importing, wholesale, transport, civil and other capital heavy operations. The reason is straightforward. A buyer is not just buying profit

(Hint: You don’t just slap on a big multiple and hope for the best) Valuing a business growing at 20%+ per year isn’t the same as valuing...

Common Add Backs When preparing a business for sale, most owners look to present a version of profitability that better reflects the ongoing earnings a buyer could reasonably expect. This “normalised profit” often includes a series of add-backs—costs that the current owner believes won’t carry forward under new ownership. But not all add-backs are viewed equally. Some are straightforward. Others are negotiable. And some are likely to be challenged, especially if they lack doc

When you’re selling your business, due diligence is where the rubber meets the road. It’s the buyer’s chance to verify everything you've told them—and your opportunity to show this is a clean, well-run operation worth every cent of the asking price. Being prepared with a due diligence checklist means faster deals, fewer price chips, and more buyer confidence. Here’s a comprehensive checklist of documents you’ll need to pull together. 🔍 Financial Records Buyers (and their acc

You’ve shaken hands, everyone’s smiling, and the champagne’s on standby. But hold the cork—because many business sales fall apart after reaching an agreement. Here's why: 1. Advisors Start Point-Scoring Lawyers and accountants sometimes forget they're part of the deal team, not a debate club. When advisors dig in just to “win” a point—over trivial clauses or theoretical risks—they can poison the tone and stall momentum. Sellers and buyers need to keep control and remember: th