So you’ve decided to sell your business, so what now?

Making the decision to sell is the easy part. Business owners think about it all the time!  The challenging part is to get it done right - achieving a sale, for the right price, in a reasonable amount of time.

As a business owner selling your business can be a very stressful process, particularly if the reason for sale is unplanned.  When the time comes, planned or unplanned we recommend you take advice from an expert consultant or business broker to give yourself the best opportunity to maximise the return on your investment ie. your sale price.  A business broker will provide you with a checklist of key activities and a list of critical advisors that you need on your team to get the job done right, and first time! 

At Advantage Business Sales and Valuations we apply a systematic approach to a business sale, this enables us to consistently deliver better results for our clients.  
 

Without this it is not uncommon for a business owner to overlook certain details, “put off” or delay a sale, or even have a deal fall over due to a lack of understanding of what’s required - buyers also have a checklist of the information they expect to see when evaluating opportunities.

To help you maximise the return on your investment when it comes time to sell, here is a quick Business Sales Checklist to get you started on this important journey.

1. Firstly, what are your goals for the sale? Both personal and business-wise. For example, What’s your time frame? What’s your sale price, do you need a specific amount of money to settle any bank loans? And, often not considered, what will you do after you sell, remember there are often restraint conditions incorporated into sale contracts
2. Secondly, are you sale-ready? For example, Is your information in order, has your accountant prepared the latest financial statements? Does your business present well, does it need a lick of paint and or a minor facelift? Is it ready for a future hand-over, are your most important contracts locked in? Have you, or do you need to brief any of your team members?
3. Lastly, who do you consult, who will be on your team supporting you and helping you to maximise your sale price? Have you spoken to your advisors? Your accountant, solicitor, financial planner, you may even need to involve your banker! Have you consulted a business sales expert to discuss the realities of selling a business? Take advise from an expert, a professional who understands the detail of the sale of a business.
   

There are lots to think about! So a quick recap on what to do now.

1. Set your business sale goals 
2. Get sale ready
3. Consult with the experts

Give yourself an Advantage and call for an obligation free consultation today.