Decide when you are wanting to leave the business. If you are selling to family or staff and they don’t have the cash to buy you out straight away, you may have to stay involved in the business longer. To achieve a clean break, your best option may be selling on the open market.
Have efficient processes in place for the daily operations for your business. This will make a handover smoother and you will have to spend less time consulting after your exit. A business that runs like a well-oiled machine will also make it much more attractive to potential buyers.
Most buyers want to see at least three years of tidy and dependable financial records. If you need assistance in getting things in order, please book in an appointment with one of our advisors. If there is anything you can do to improve profitability, do it as soon as possible.
Drive up the value
What makes you stand out in the market? Look at the unique selling points of your business and grow them. On the other hand, if there are any processes or parts of your customer experience you can improve, fix these up. You may want to involve us as a business advisor to look at this from an outside point of view. This will help to drive up the value of your business at selling point.
We recommend getting a business valuation done. This will give you a rough estimate of what your business is worth and what you can except to sell it for. Our team can help you with this, give us a call on 09 470 1840 or email us to discuss details.