Quick ways to value your business

When you’re ready to sell your business, not knowing exactly what it’s worth shouldn’t hold you back from finding the right buyer.

Check out these quick ways to get an idea of your business’s value, so you can confidently start advertising and get your business out there.

 

What else is out there?

Just as you would look at the value of other properties if you were selling your house, looking at comparable businesses will help you determine what your business could be worth. The best way to do this is to search for similar businesses for sale on SEEK Business.

For example, if you’re trying to sell a small café in Blackburn, Melbourne, look at other cafes of a similar size, in the same area. Then use any other information provided in the ads, like revenue, expenses, products and services to compare your business.

 

Think like a buyer

When you’ve landed on a price you feel might be right, it’s time to think like a buyer, not a seller.

Start by asking yourself if would you pay that amount? If you’d say yes immediately, the price may be too low. If you’d say no straight away, it may be overpriced.

If you’d say yes but want to look over all the details, it’s probably about right.

Now is also a great time to talk to people in your trusted networks and get on social media. Reach out to your family, friends and business connections to get their thoughts on your estimated business value. You might be surprised at how helpful they could be.

 

Test the waters

The best way to gauge interest in your business and get a good understanding of what buyers are willing to pay is simply to place a business for sale ad….and see what interest you get.

Getting your business on-site will allow you to get feedback from potential buyers and give you an idea of whether you’ve accurately valued your business. But remember, you don’t have to accept the first offer you get. When you sell your business and for how much, is ultimately up to you.

Testing the waters is easy when you advertise your business with SEEK Business. You can edit your ad at any time and adjust the sale price to reflect buyer feedback as you go. Adding a price isn’t a required field, so you can select to display “Price on Application” or “Price Negotiable”. However, we know that businesses that display a price get more views, so it’s worth advertising with an approximate value to see what interest you generate.

 

Let’s get started

While we’re not going to say that valuing a business is easy, just getting started is often the hardest part. Now that you have a starting point, you can use these simple steps to quickly estimate the value of your business and confidently get your opportunity out in front of buyers.

Draft your ad now to start looking for the right buyer for your business, and get your opportunity in front of a large, engaged audience.