Selling Related FAQs

Question Answer
Can I phone or chat with you? Yes of course. Our contact details are on our Contact page along with a contact form that you may wish to use instead of phoning.

Please note, when contacting us by phone or chat, our business hours are between 10am and 5pm (UTC +07:00) Monday to Friday excluding public holidays gazetted for Thailand.
Can I post in the portal without logging in? No you can't. You have to have a current User account with BFS Asia and be logged in to post listings, blogs, portal advertisements and the like.

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Can I put contact information in my Listings? No, we are sorry, but you can't. We don't allow any links or contact information in your listing that will enable a potential buyer to contact you (initially) without using our 'Request Info' link. People who submit a request for information about your Listing may provide you with their contact details so that any future discussions can be done using those contact details.

If you purchase an Agent plan, your contact details will be listed in our Agents/Brokers page.

If you purchase a Broker plan, your contact details will be listed in our Agents/Brokers page AND on our homepage as a Featured Broker.
Can I sell my business if it is not trading? Yes, you can. It is best to advertise it quickly after closing and be sure to state that the business is closed in your advertisement and the reason why. Buyers will understand this and if interested (many will see this as a good opportunity) they will contact you.

If a Buyer turns up expecting to inspect an operational business and finds the business closed because you failed to state this in your advertisement, they will (quite rightly) think you are hiding information and will be easily turned off buying your business.
Can you provide an Agent to conduct settlement when I find a Buyer? This is not a service we currently provide, but please look at our Agents and Brokers page to identify an Agent or Broker near you and contact them for assistance.
Do I need to sign a contract to list with BFS Asia? When you create an account with businessforsaleasia.com you agree to our terms and conditions and you can only use the services offered in this portal if you create an account. Features include adding a Listing, Portal Advertisement, Blog, etc. Terms and conditions for all services offered are explained in our Terms and Conditions page.

If you create an account with us, you have agreed to these terms and conditions and we therefore have a contract. Please print our terms and conditions page if you would like a paper version of our agreement.

If you do not agree with our terms and conditions, please do not create an account, or deactivate your account (as the case may be) and cease using our portal.

Importantly, listing with BFS Asia is NOT an exclusive service. Please feel free to also advertise in other locations as you wish. If you have engaged a broker to assist you to sell under an EXCLUSIVE arrangement, please consult with your Broker before listing here.
How Long does it take to sell a business? This question is not one that can be reliably answered as a 'one answer fits all' because businesses vary considerably in terms of location, viability, desirability, etc. Many Sellers think it's all about price, but this is not true. Price is just one of the many considerations which will affect how long it takes to sell.

Regardless, to provide an answer that may be of assistance to you - assuming you get your marketing and advertising right, you present a viable option at a realistic price, our data shows us that a sale will occur between three and 12 months after advertising commences.
What if I don't get enough interest or sales leads for my Listing/s? How much interest is enough? Well, technically speaking, you only need one inquiry and for that inquiry to lead to a sale. Realistically though, if you don't receive at least one inquiry in the first week or two of listing, and/or you don't receive four or more inquiries during one month, this usually indicates there is a problem with your Listing.

If you feel the inquiries you receive are too low, here are some of the common mistakes people make with their Listings. You should review your Listing and amend (edit) it if you need to.

  • description does not entice people to inquire because it has been written poorly, is illogical, does not appeal to potential Buyers, has errors in it and/or for other reasons
  • not enough description, or maybe 'too much' description
  • not enough photos, or 'too many' photos
  • asking price is too high, or too low ("I see it, but I don't believe it!")
  • your Listing is very unique and has a low interest rate

    • From our experience, Sellers seem to think PRICE is the main consideration in selling. This is not true. Even if you have valid reasons for pricing a listing as 'an absolute bargain', this will not necessarily produce a quick sale. Buying businesses is not something Buyers do lightly or (even) quickly. A business is not a condo - they, typically, take a lot longer to gain interest and sell.

    For more assistance, please read our information sheets on Preparing a Business for Sale and Valuing a Business for Sale, available to download from our Downloads page.
    What is the difference between FOR SALE and FOR SALE AND RENT? 'For Sale' is reasonably well-known as it is used extensively in the real estate industry to advertise property for 'freehold' sale. That is to say, you will be buying the title to the land (and any improvements on that land), or in the case of strata property, the title to that level of the building. Commercial real estate is the same when it comes to 'for sale' advertisements.

    When talking businesses, partnerships, franchises and commercial properties though, there is another category that (generally) does not apply with residential real estate - 'For Sale and Rent' (not 'For Sale OR Rent' - this is very simply saying it is available for sale or for rent).

    'For Sale and Rent' is where you buy the business component of the listing (this is the 'for sale' part) and then you rent the business premises (the rent part).

    Typically, in for sale and rent offers, the 'for sale' component includes assets like:
  • furnishings, plant and equipment
  • ownership of company and current contracts
  • licenses and Permits
  • trademarks and use of brand
  • goodwill
  • suppliers and customers databases
  • online and social media accounts
  • stock
    		•
    What is the Sale/Purchase Value of a Business? We all know that there are many methods used to determine the value of a business. Different formulae producing different values, so let's be clear right from the outset. We are talking value in terms of how much you should expect to receive when selling, and how much you should expect to pay when buying.

    And, we are talking about the 'business' component ONLY. If the sale offer includes property (freehold or strata title), this gets added to the business value.

    Industry experts use a multiplier of net profit to calculate sales value. The multiplier changes with changed economic conditions and buyer trends because it represents what buyers are willing to pay at that time given the conditions at that time.

    We have more information about value (including case studies) about this topic in our information sheet Valuing a Business for Sale which you can download from our Downloads page, but for the purpose of this FAQ, the current multiplier for Asia is 2 to 3 years ROI (ie, what the business has demonstrated it has made in net profit over the last 2 to 3 years).

    Updated: 5 Feb 2021