How to Sell my Wholesaling Business?
SELLING A WHOLESALE BUSINESS
Maximising The Value of Your Business
- Have a good web presence for retailers.
- Offer direct to the public online sales. Don’t forget to add a “recommended retail price” which is generally double the wholesale price.
- Attend trade shows.
- Trade “in demand products”
- Keep your eye out for the latest products, keep one step ahead of the rest.
- Diversify. Aim for more than one income steam.
- Stay in close contact with your customers.
- Keep adding! New customers + more profits.
- Listen…. what are consumers talking about.
- Have good relationships with your suppliers.
- Check that you are using the cheapest freight options.
- Maximise labour costs by buying in larger quantities but be aware of the currency conversions at time of purchase.
- Buy at the right price to ensure higher profit margins.
- Keep an eye on your stock levels. You don’t want unsold dated stock lying around, discount and move it. It’s a fine balance to keep your stock levels just right so keep your eye on the ball. An automated stock control system can help you in this area.
Prepare for Sale
- Dead stock is a major drawback to the sale
- List all stock
- List all Suppliers and length of partnerships.
- Do you have contracts in place with suppliers. Do you have any exclusive rights?
- List all customers and their % of sales. How long have you been doing business with your major players?
- List all business assets, tangible and intangible.
- List all employees and their duties.
- What is the owners role in the business?
- Is the business fully systemised? Is it easy to operate?
- How do your clients find out about you?
- Do you have a designated person scouting for new business?
- Do you have contracts in place, with distributors and/ retailers?
- Is your procedures and operations manual up to date?
- Do you have a strong history of profitability?
- Ensure your books are well kept and up to date.
- What plans have you been following for growth?
- Depending of the scope and size of your business, it can take 3-12 months to complete a sale. Start getting ready early!
- Offer a purchaser a free period of training to ensure a smooth transition of ownership.
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They opted for BCI:
Founder and M.D. - Jump Start
" I sold my business for the price, terms and hand-over that I wanted, and it was all because of Tony. His decades of experience and excellent people skills gave me confidence, reassurance and guidance throughout the entire process. He had ... "
M.D. - Sherlock Consulting
"For 20 years plus I have seen the results of Tony’s business and the professional way he handles his clients….. He is a man of action and stands behind his words….. It’s nice to see and meet a person who is courteous, honest and willing to go the ... "
Director - Fields of Beauty
" Tony, Thank you, for your commitment, professionalism, and dedication to selling my business . I could not have asked for a better broker to sell it! ... "
Director - PALMERBIZ
" If you are considering selling your business, don’t waste your time shopping around for a broker that doesn’t even understand business. Go straight to BCI Brokers and get the professional service that you deserve ... "
Director, Franchise Systems Grp
"Tony puts the interests of his clients at the forefront. He takes a proactive approach to each project and helps his clients understand the reality of the situation. He knows what is required to get a positive result and has proved to be a longstanding colleague ... "
Pro. Services Franchisor
" I have worked with Tony over a number of years in different capacities, firstly as a Franchisor with Tony brokering the sale of a franchisee in our system and then as an advisor to our system. On all occasions I have found Tony to be well informed and ... "