Tips on Selling your Business

 #1. Planning:

Decide on your long term vision – 2 great questions to ask yourself are: Why do you want to sell? What will you do once you do sell?

#2. Prepare:

Consider whether the sale of your business will allow you to achieve your vision? To understand how much your business is worth, start with a business broker who will discuss its market value and your price expectations with you.  To give you a rough guide please use our guide to “what is my business worth”  form

#3. Maximize Business Value:

If you have decided to sell it is preferable to do your research at least 18 -24 months in advance of when you want to sell to maximise your business sale price. 

It’s worth taking the time to educate yourself about all the things you need to know and do to sell your business successfully.

The main points are:

1. The sale process and your role in it
2. Ensuring the systems and structure of your business will be attractive to a buyer
3. Understanding how to maximise the profitability in your business.

So - in summary, when preparing and selling your business.

 

– PLAN, PREPARE, MAXIMISE PROFITABILITY