Australian Newsagency Blog

A blog on issues affecting Australia's newsagents, media and small business generally.

Preparing your retail newsagency business for sale

Mark Fletcher
August 1st, 2019 · No Comments

Selling a retail business is like selling a house, you need to prepare it so that it looks appealing to prospective purchasers. Selling a newsagency is more challenging because of assumptions out there and changes in what a newsagency is can could be.

Here is my updated advice on preparing a newsagency for sale.

  1. Make it look and feel appealing. While there are people who will look for a challenge (opportunity). Most buyers will want two see a business they understand and feel they can run.
  2. Eliminate dead stock. It looks bad on the shelves and looks bad on the books. Purchasers should not pay full wholesale for inventory more than six months old as your poor buying or management is not their obligation.
  3. Streamline operations. Make the business look easy to run by ensuring it is easy to run for you. The easier it looks to run the more interesting to people who don’t understand the business.
  4. Maximise profit. What anyone will pay will depend on actual profitability of the business.
  5. Be happy. Owners who talk their business down will find it harder to sell the business.
  6. Keep your social media presence up to date. Today, many people check out a business online prior to looking at it in-store. Maintain up to date Facebook, Instagram and elsewhere.
  7. Get your paperwork in order. Early on, get business documents together:
    1. Premises lease.
    2. Equipment lease.
    3. Employee records.
    4. Product forward orders.
    5. Franchise documents.
    6. Supplier agreements.
    7. Details of any forward orders.
    8. Any other documents relating to the operation of the business including manuals for any equipment items.
  8. Choose a broker for your circumstances.

Success at selling your newsagency business depends on the work you do to prepare it for sale. Focus months, even a years, out can make for an easier and better sale.

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Category: Selling your newsagency

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