LK Business Brokers
LK Business Brokers is a business broking firm specializing in the sales and purchases of small to medium businesses and commercial properties. We have extensive experience in dealing with all kinds of business transactions and understand the impact the transition of a business can make to your life.
At LKBB we have a philosophy based on integrity, professionalism, knowledge and expertise. We strive to attain the best results for both selling and buying parties in a professional and timely manner.
We also have a broad database of buyers who have expressed interest in a range of businesses and industry categories which we are able to match against your business. Many of these buyers are ready to purchase and actively seeking to acquire businesses.
Our broker’s primary objective is to professionally market your business and achieve an optimum sale value while you continue to run the business and enhance its value.
Free business appraisals
We assess your business and its likely worth in the current market, to provide you with a recommended sale price.
Marketing your business for sale
We subscribe to all leading business for sale websites as well as using our extensive database of buyers.
Qualifying buyers to save you time
We qualify buyers by conducting a pre inspection interview in order to find out exactly what the buyers needs and wants are so that we could establish the right business for them.
Assistance in the negotiation process
We assist in the negotiation process. This is a very sensitive process and we aim to deal with this process in the most professional manner.
Selling your business for the right price
Receiving the best outcome for your business is one of our main priorities and we have several different ways we look at in order to properly evaluate your business. It is important for us to get all the financials available to best determine the selling price.
As selling a business is relatively different from selling a house there are many more factors that are involved and unlike for houses we cannot use the comparable process. There a several different factors that will need to be taken into account such as lease, rent, fit out, takings, staff, trading hours and goodwill.
What LKBB believes in
Our main mission is to continue to be committed to enhancing the quality of high performance throughout our work as LKBB is passionate about achieving the best possible outcomes. We also expect individual and team accountability and we encourage innovation. Our values at LKBB are respect, integrity and working together.
“Selling your business is our business”
Private Sale VS LKBB
Advertising on 10
Business for sale websites:
|www.anybusiness.com.au||not available||not available||Subscription|
|www.business2sell.com.au||$200 + gst||$580 + gst||Subscription|
|www.realestate1.com.au||not available||not available||Subscription|
|www.buybusiness.com||$72 + gst||$144 + gst||Subscription|
|www.bizclassifieds.com.au||$69 + gst||$89 + gst||Subscription|
|www.businessesview.com.au||not available||not available||Subscription|
|www.businessesforsale.com||$299 + gst||$598 + gst||Subscription|
|www.Bsale.com.au||$198 + gst||$396 + gst||Subscription|
|www.ibbcorp.com.au||not available||not available||Subscription|
|www.lkbb.com.au||not available||not available||Subscription|
|Total per listing approx. $900 per annum|
|Copywriting/ Ad write up||Vendor must prepare||Vendor must prepare||2 hours x $220 per hour = $440|
|Uploading the ad to all websites individually||Vendor||Vendor||2 hours x $220 per hour = $440|
|Preparation of Financials & Addback Schedule||
Min $800 – $1,500 using an accountant
$800 – $1,500 min. using an accountant
2 hours x $220 per hour = $440
Preparation of Heads Of Agreement and a draft copy of the Contract of Sale for your solicitor
|Min $2,500 – $8,500 using a solicitor||Min $2,500 – $8,500 using a solicitor||2 hours x $220 per hour = $440|
|Preparation of Information Memorandum||
This document takes a long time to prepare. Most vendors don’t have the time to do it.
This document takes a long time to prepare. Most vendors don’t have the time to do it.
|8 hours x $220 per hour= $1,760|
Email marketing campaign to Database of 2,500 + buyers database
|not available||not available||4 hours x $220 per hour = $880|
|Email Campaign to internal network of contacts & referrals.
Accountants, solicitors, migration agents, affiliate business brokers
|2 hours x $220 per hour = $440|
|Total||$4,138 – $10,838||$5,107 – $11,807||$5,740 + gst|
“Not available” means: (Must be a broker to advertise. No private ads).
Listing/ Admin Fee
Bronze package- $2,500 + gst (Normally $5,740 + gst)
3 months Exclusive Authority. If the business is not sold and you wish to resign than the LKBB will invoice you for another $2,500 + gst
Your ad will appear on Australia’s leading Business for Sale websites:
We also place your ad in the Chinese newspaper at agent’s discretion. Social media including Facebook and LinkedIn, plus many other 3rd party business for sale websites.
Our services included in the admin/ listing fee, but not limited to:
|– Full brokerage service||– Handle all enquiries and actively seek buyers|
|– Min 3 month Exclusive Contract||– Get potential buyers to sign confidentiality agreements prior to giving out information|
|– Appraise sale price of business for sale||– Unlimited buyer inspections|
|– Copy writing/ Ad write up||– Unlimited phone calls|
|– Write up a Business info Memorandum document.||– Negotiate on vendors behalf|
|– List business on all internet websites||– Draft a “Heads of Agreement” offer to purchase document|
|– Email marketing campaign to database & to internal network of contacts and referrals||– Liaise with accountants and solicitors on vendor’s behalf|
|– Email you weekly website performance reports||– Receive a 10% deposit into Agency statutory trust A/C|
|– Change and update ads as needed||– See through the successful sale of your business|
Silver package- $5,000 + gst (Normally $8,911 + gst)
6 months Exclusive Authority. If the business is not sold and you wish to resign than the LKBB will invoice you for another $2,500 + gst
You get the same as bronze package plus the following websites as premium listings
|Anybusiness.com.au (Diamond ad) 90 days||$250 + gst|
|Businessesview.com.au Featured ad for 90 days||$154 + gst|
|Daily Chinese Herald (3 line ad in Chinese) for 90 days||$165 + gst|
|Businessesforsale.com (premium ad) for 90 days||$102 + gst|
|Total advertising for 90 days approx.||$671 + gst|
Gold package- $7,500 + gst (Normally $12,753 + gst)
Exclusive Authority. Until sold. No additional fees.
You get the same as Silver package plus the following websites as premium listings for 6 months
|Anybusiness.com.au (Diamond ad) 180 days||$500 + gst|
|Businessesview.com.au Featured ad for 180 days||$308 + gst|
|Daily Chinese Herald (3 line ad in Chinese) for 180 days||$330 + gst|
|Businessesforsale.com (premium ad) for 180 days||$204 + gst|
|Total advertising for 90 days approx.||$1,342 + gst|
Here’s a few points to think about…
|Selling privately||Selling with LKBB – Our services|
|No selling experience or very minimal||Over 10 years of experience|
|No transactions or minimal||Hundreds of transactions|
|Must run your business while trying to sell
Takes focus away from your business which results in less time spent in the business. Risk Sales to decrease, quality and customer focus.
Risk of abnormal behaviour around staff, customers and suppliers – raising suspicion and risk of losing staff, customers and existing trade agreements.
Risk of competition finding out.
|This is what we do every day…
You keep driving your business and we focus on selling it
We work off-site and report to you via email and phone with feedback and offers to avoid suspicion.
We have buyers sign a confidentiality agreement and run checks to protect the goodwill of the business.
Inexperience at the negotiation table may make you feel pressured to accept the first offer which may be far from your desired or the best possible offer.
|Our negotiating experience
and ability to buffer you from direct emotional combat with buyers allows us to present the best final offer.
|Your solicitor is ONLY able to speak to yourself and the buyer’s solicitor.
They may or may not be able to provide solutions equitable to both parties as they are only looking after your best interest regardless as to whether the sale goes through.
They may not actively chase up a response from the other party and may not be privy to potential problems elsewhere.
We are the only party who can speak to all parties including your solicitor, the buyers solicitor, landlord, landlords solicitor, both accountants, lenders, real estate agents etc. As it’s in your and our best interest to make sure the sale goes through.
As we are in contact with everyone, we are able to see all angles and anticipate problems, and offer an equitable solution
We are the common point of contact and can actively chase up all parties for a response and keep everyone moving in the same direction.
|You may not be in touch with the market and may lose out on a sale as you are waiting for the impossible.||We are in touch with buyers every day and aware of changes to buyers expectations and market conditions.|
|You chasing Buyers may appear desperate.||We can chase Buyers without looking desperate.|
|You are relying on yourself to complete the sale through settlement.||We hold your hand and the Buyers hand through the process to settlement.
LK Business Brokers – LKBB
Ground Floor 54 St Kilda Road. St Kilda 3182
For a confidential discussion please call us on 1300 315 223