How to sell you business can be complicated but there are preparations that you can make which will smooth the process.
Most, if not all, businesses are for sale whether the owner knows it or not.
Some owners plan for it and some have it thrust upon them unexpectedly by an unsolicited offer, a life changing occurrence or the owner just reaching the end of the road.
Even if a sale is not on the horizon, it is helpful to plan for it. Planning protects and enhances the value of your business and eases the process – two of the biggest concerns that we come across when acting for owners.
Many business owners have invested all their time and energy into growing and running their business but when it comes to preparing the business for sale, have no idea how to go about it.
There are steps that all business owners should take to make their business sale-ready. To help demystify this process, our corporate team has put together a must-read comprehensive guide entitled: Thinking of Selling Your Business?
The guide covers:
- Timing – Is your business growing, steady or experiencing a period of decline? This will affect your approach to selling.
- Getting sale-ready – Even if you’re not ready to sell, this is an excellent way to run your business as it keeps you switched on.
- Knowing your worth – Learn how businesses are valued.
- Deal structures – You should think in advance how you want the deal to be structured to benefit you.
- Data rooms and due diligence – Being on the front foot with information repositories helps avoid a buyer-led process.
- Deal behaviour – Tips on how to conduct the initial process.