Your experts in selling businesses in the Canary Islands
We make it easy
Taking the stress out of selling a business.
For whatever reason, you’ve decided to sell your business and you want to get the best price for it. You'll also likely want to sell it reasonably quickly as you have plans for your new life. Where do you start?
The first step is getting your business registered for sale with an experienced Canary Islands business agent, such as Prime Commercial. We offer our complimentary business advisory service which starts with a one-to-one personal consultation at your business. We want to know all about your business, so it’s important to have your facts, and figures, ready.
It goes without saying, but the more prepared and honest you are, the more likely and quicker you are to sell.
Unique Selling Points
We want you to tell us about the main selling points of your business. Try to remember back to when you first started. What initially attracted you to buying or starting this business? Who are your customers? What do you offer that’s special and unique to just your business?
If you think there are ways that a new owner can improve the business then don’t be afraid to say so. A new owner will always want to feel that they can add value to their new business.
The more you can tell us about why someone would want to buy your business, the easier it is to make it appealing to potential buyers. Really sell it to us, and we, in turn, will sell it for you.
Accounts & Finance
Accounts and financial information are very important. What is your annual income and expenditure and can you produce a Profit and Loss? These figures do not necessarily need to be audited and many businesses do not need them for tax purposes, however, put yourself in the position of the buyer. They will want to know what they are getting for their money, and at the end of the year they will want to know how much profit to expect (if any). If you are not able to provide any figures they may simply walk away and find a business that can. Yours might be the perfect business for them, but if you don’t show the evidence then you can easily lose a sale.
If you don’t already keep figures, don’t worry. We can give you help on how to keep proper records so that a prospective buyer can have total confidence in your finances. Remember, the more information you can give us about your business the better. You will be providing us with the vital tools we need to work in partnership with you to present your business in the best possible light to potential buyers.
Imagine what it would be like to be a buyer looking at your business. Truthfully, what would you be willing to pay to buy your business today? Buyers will compare your business with others, looking at the market realistically, researching what has sold in your area, and just as importantly, what has not.
We provide you with a free valuation and guide you through agreeing on a realistic sale price for your business. Remember, you can always negotiate, though it is in our best interest to get as much for your business as possible.
Generally, a buyer would expect to recoup their initial outlay within two years. A realistic price with documented profit and loss accounts will generate significant interest and a faster, easier sale.
Tips on selling
Prepare your premises for prospective buyers. Do your premises need a good tidy up and reorganising? Just as with residential property sales, first impressions are crucial. A mini-makeover could raise the perceived value of your business considerably.
Keep figures at hand and be prepared to answer questions regarding takings and costs, your trade and your clients.
Keep it simple with short to the point answers. Don’t oversell but don’t be afraid to tell buyers about your achievements. If you have something special or a unique selling point, make sure prospective buyers know this, you don’t want them to miss it. Finally, be as passionate and positive as you possibly can, and we'll then do the rest for you.
The cost of selling
Prime Commercial Sales only charges a commission on results. Our agreement with you is entirely on a no-sale/no-fee basis. Therefore, there will be no upfront costs for advertising your business for sale. At the time of registering your business with us, we will discuss and pre-agree the fee structure with you.
Upon selling, you may have to pay a transfer fee to your landlord. This will depend upon the terms of your rental contract. There will also be fees to your accountant to remove you from the tax and social security systems.
Our sales service
At Prime Commercial Sales we are professional in our work ethic and use a proven, tactful method of active selling and marketing. We will never pressurise potential buyers to achieve a sale.
We listen carefully to both the buyer and the seller and endeavour to match the client to the business. Before we introduce buyers to you, we discuss the history and potential of your business as accurately as we can. Our aim is to introduce you to serious, pre-qualified potential buyers and to support you throughout the process in achieving a successful sale.