Are you thinking about selling your business?
Here are just some of the key things to consider.
- Valuation: Understand the true value of your business through a professional appraisal. This includes assets, liabilities, revenue, cash flow, growth potential, and market position.
- Financial Records: Ensure all financial statements, tax returns, and operational documents are accurate, up to date, and well-organised. Buyers will scrutinize your financials closely.
- Timing: Evaluate whether market conditions, industry trends, and the business’s performance indicate it’s the right time to sell. Selling during a peak period can increase the selling price.
- Operational Dependence: Reduce the business’s dependence on you personally. A business that runs smoothly without the owner is far more attractive to buyers.
- Legal and Tax Implications: Consult with legal and tax professionals to understand potential consequences and structure the deal in a way that minimises liabilities and maximises after-tax proceeds.
- Sale marketing plan: Have a clear plan, including whether you’ll stay on during a transition period, how employees will be handled, and what your personal goals are post-sale
Choose a broker to assist in the process
It is essential to have the support of an experienced broker so that you can have their support to manage the process. The first step is to conduct a Market Readyness Review. In this way, you can see what areas need to be addressed and the marketing strategy to employ to achieve the best price for your business.
“Selling a business is just as much a challenge as starting a business”
If you would like to have a Market Ready Review prepared for your business, please contact me now.
The investment is $950 plus GST and this fee will be rebated from any business sale commission.
