How is a price determined for my business?
Determining what a business if worth is difficult for most people. Business Brokers make recommendations
based on their experiences buying and selling similar businesses and have access to valuation information that regular people do not.Typically this price will be 2 to 3 times the annual cash flow of the business after recasting, with a 25 to 50 percent down payment and a note paid off over 5 to 10 years. If the business can earn the income you want and make the note payments, then it is worth the price. We will work together to determine the asking price to assure you receive the best possible price for your business.
What are the fees for selling a business?
Fees are based on a percentage of the final sale price and are payable at closing.We do not charge up-front fees for our service. Like any business, we will sign a Listing Agreement that spells out what the cost is as well as how long you will be listing your business with us. This also includes a Disclosure Statement as required by Illinois law.
What is a Business Broker?
A business broker is a guide through the buying or selling of a business. He also presents opportunities to buyers and sellers, and acts as a go-between, saving you time and energy to do other important tasks related to the business.The right business broker can help you achieve the maximum dollar value. We are a Registered Business Brokerage in the state of Illinois as well as a member of MBBI, Midwest Brokers and Business Intermediaries.
What is a Confidentiality Agreement and how does that help me?
We maintain your business information in a confidential manner. We never release any information on your business unless we have a signed Confidentiality Agreement on file for your property from a prospective buyer. This protects you in many different ways. When a prospective buyer signs this, they agree to keep any information they receive confidential. They will not visit your business without our staff present, talk to your staff or talk to your suppliers. This helps you avoid losing key staff, suppliers or customers at a crucial time.
Why not just start my own new business ?
Government surveys show that over 80% of new businesses fail in the first 3 years, for reasons such as poor location, low product quality, under capitalization, and lack of management skills. This risk can be eliminated by purchasing a quality business with a proven cash flow. You will also have a customer base already in place from day one.
Why use a Professional Intermediary to help sell or purchase a business?
Presenting opportunities for your review allows you to consider situations that you would have an interest and match your own personal acquisition criteria. Using an Intermediary also allows for confidentiality during the initial stages of the buying process. Allowing a professional to lead you through the steps to buying a business will ultimately give you the peace of mind that your interests were protected and your investment well directed. Choosing an individual who is professionally trained, has made a full-time commitment to their career, has access to the largest data bases on comparable business sales in the world, and can be trusted to work for your best interest, means you have chosen Illiana Properties to work with you.
Why use Illiana Properties to sell my business?
We specialize in the Southern Illinois and Indiana markets because we live and work here. We understand the local factors that will influence the sales process. Selling your business is more than selling real estate.Getting your business the nation-wide exposure it needs and protecting your business’s information at the same time can be complicated. There are untold details between the acceptance of an offer to the close. Inspections, appraisals, banking and Proforma’s, we handle it all. This allows you to continue to operate your business.