Want to Sell a Business in India? – Get Started Today!

You have a business and want to sell it – how do you go about it?

Things are usually harder on this side of the table, i.e. when you are the seller of a business. Why? Simply because the onus is on you to get noticed, prove your worth to a buyer and go through the rigour as he deems fit.

As a leading digital platform for matchmaking between buyers and sellers of businesses in India, we can tell you this – you are not alone. IndiaBizForSale is an online platform for buying and selling businesses, and providing services to facilitate the transaction for both buyers and sellers. This article is a baby step towards giving you a drift of what it truly means to sell a business, and how we can help!

Why You Want To Sell Your Business?

In order to make the right decisions, you must clearly know your motive(s) for selling. Ask yourself the following: are you selling your business because you are in need of urgent cash? Are you just looking for a quick exit? Or are you interested in remaining involved even after you exit? Are you, perhaps, moving to a different location? Whatever your reason(s) may be, jot them down in a paper before you begin the actual selling process.

How To Sell Business?

Conventional methods for sourcing prospective buyers still work. You can list your business in local magazines and trade journals to get noticed. You can check within your immediate network. You can even do cold-calls if you have the relevant database of people who are likely be to be interested.

But here’s the catch – have you noticed that these conventional methods tend to be unidirectional? Okay, we are not suggesting that you abandon these approaches. But there is also something smarter, faster and more relevant at your disposal – dedicated online platforms for selling your business and letting advanced computer algorithms and a professional team take care of the matchmaking.

In particular, IndiaBizForSale is the high-growth digital mainstay of business sellers exactly like you – which brings us to the question: how to spot the right buyer?

To Whom?

Once you start receiving relevant buyer interests, you will be required to make the tough choice of who you want to proceed the discussion with. It’s usually easy to weed the non-relevant ones out, but how do you filter the final few? This is where your sale motives will guide you. Qualify your buyers through your own selection criteria. At IndiaBizForSale, we ease this through adequate face time between buyers and sellers as well as investing ourselves in understanding each party better.

What Next?

As you spiral up the ladder of selection by elimination, buyers will flow in and out of your shortlist funnel. You will eventually arrive at that one final buyer with whom you agree to enter into the transaction in principle. The buyer will still want to know as much as possible about your business, and hence will begin the buyer due diligence. He will probably introduce his team of experts who will take on the micro-level scrutiny from here. It will be useful and time-saving at this stage to have your own professional team ready with all the documented and non-documented evidence that supplement your claims as a seller. A Chartered Accountant, a Company Secretary, a Valuation Expert and a Lawyer will be indispensable to stem the tide of questions, answers and explanations.

Another set of professionals who come extremely handy across all stages of business selling are brokers. IndiaBizforSale recommends the right brokers and other professionals needed for your specific case, if any.

Once your buyer is satisfied with all the evidence, and the price is negotiated and agreed upon, then comes the legal and compliance requirements associated with selling a business. The terms and conditions of the sale agreement will be discussed and agreed upon such as decisions pertaining to settlement of price in cash or stake and timeline of receipt of price by you, etc.

Now that you have had a peek into what you are in for – why wait? Get your selling process started and do reach out to us if you have any queries.