1. Stopping the “Third Party” from Costing you the Sale AIBB 2016 Conference Melbourne Copyright © Brian Sander 2016

2. Who are the third parties that effect our sales? Landlords & Managing Agents Bankers & Financiers Franchisors Solicitors & Conveyancers State Lottery Agencies State Liquor Licencing Authorities Copyright © Brian Sander 2016

3. What others can you think of? What is the most unreasonable case that you have experienced where a “Third Party” has cost you a sale? The aim of this workshop is for us to learn how not to be a horror war story Copyright © Brian Sander 2016

4. What do we need to realise about Third Parties ? They have a genuine involvement with the sale Usually they need to know more about the Purchaser They often have a legal ability to kill the sale They are not necessarily the enemy Copyright © Brian Sander 2016

5. The Secret of a man’s success resides in his insight into the moods of people and his tact in dealing with them. J G Holland Copyright © Brian Sander 2016

6. So How do we work with them? Understand what they want – Information, Reassurance, Confidence in buyer, Reduction of their risk. How do we help them achieve that? By Developing a trust relationship that gives them confidence in your judgement Copyright © Brian Sander 2016

7. Lawyers / Conveyancers Most common issues or problems? They are busy Want to redesign contract and change the deal Add new clauses to “protect” client Not familiar with Business Sales Others? Copyright © Brian Sander 2016

8. Solutions Where possible use lawyers you have worked with Provide a very clear Sales Advice with all of the information Include a statement that parties agree to use standard Law Society document Use some psychology to smooth the path If problems arise try and get face to face meeting to resolve issues Wherever possible try and remain in control, and as a final solution you can always suggest client change Lawyer! Copyright © Brian Sander 2016

9. What’s the difference between a good Lawyer and a great Lawyer? A good Lawyer knows the law, A great lawyer knows the Judge Copyright © Brian Sander 2016

10. Landlords & Managing Agents Most common problems? Complex application forms Time for approval Cost of Application process Unreasonable Bank Guarantee requests Rents & renewals Copyright © Brian Sander 2016

11. Solutions How well have you read the lease Assist buyer with application forms Attend interview if possible Prepare them for most likely questions Be aware of comparable rentals Business Plans Understand your relevant state Retail Leases Act and Disclosure statements Copyright © Brian Sander 2016

12. “You will get everything you want in life if you help enough other people get what they want” Zig Ziglar Copyright © Brian Sander 2016

13. Accountants Most Common issues Unrealistic Methods of Valuation “No such thing as Goodwill” Differing Views on Addbacks, particularly Depreciation Slowness or reluctance to provide Financial Information Copyright © Brian Sander 2016

14. There are three types of Accountants Those who can count and those who can’t Copyright © Brian Sander 2016

15. Solutions Develop a belief in them that you are a professional and are there to help their client. Vendors Accountant Provide them a copy of your appraisal and IM and seek their input Purchasers Accountant Use the IM to prove Value, quote comparable sales or Industry benchmarks? Copyright © Brian Sander 2016

16. Banks / Financiers They are not keen to lend to small Business They struggle to understand the real value of SME’s Conservative on the future of SME’s Can run “hot & cold” on Industry sectors Copyright © Brian Sander 2016

17. “A Banker is a fellow who will Lend you his umbrella when the sun is shining but wants it back the minute it begins to rain” Mark Twain Copyright © Brian Sander 2016

18. Solutions Firstly understand their Fear- SME’s are risky, but many succeed Qualify your buyers, do not “Submit in hope” Prove Value Use the Vendors Financier Create relationships with Financiers for different sectors and price ranges Copyright © Brian Sander 2016

19. Franchisors Control & Costs Fixed in their Terms Can be lengthy & costly training periods Resales needed to underpin Greenfield sales Copyright © Brian Sander 2016

20. We need to fully understand their Criteria and be familiar with their documentation Strong need to qualify applicants, financial and language ability Lengthy process, allow adequate and realistic time frames Copyright © Brian Sander 2016

21. State Authorities (Lottery, Liquor etc.) Seeking confirmation of Experience, Financial ability, Business acumen, language skills. Often Complex application forms. Usually Face to face interview with Broker excluded Can be Lengthy approval timeline Copyright © Brian Sander 2016

22. Solutions Assess buyers realistically Give assistance to buyers in application process Organise Independent business plans Allow ample time for settlements The aim of this workshop is for us to learn how not to be a horror war story Copyright © Brian Sander 2016

23. “Lack of direction not lack of time is the problem. We all have 24 hours in a day” Zig Ziglar Copyright © Brian Sander 2016

24. Thank you Copyright © Brian Sander 2016