Are you thinking about selling your business?
Are you thinking about selling your business? Many entrepreneurs start with a sale of their business in mind. For others, selling their business might be the last thing they have been considering. However you come to the decision to sell your business, it will often be the most important financial transaction of your life.
Before putting your business up for sale, you must give careful consideration to your reasons for doing so as buyers will need to be comfortable with your motivation. Next is considering the ways to sell your business. Most businesses are sold in a trade sale to another business usually operating in the same or a similar field. Other options available include finding a private investor, facilitating a management buyout or you could consider passing your business onto your children.
Timing is also important. Not only in bringing in the right advisors, including specialist lawyers and corporate finance advisors, but also in selling at the right time. Planning well ahead to sell when either the business cycle favours you, or your business has a financial record that attracts buyers, can have a significant impact on the price you get for your business.
Last but not least is ensuring you maximise the after tax sales proceeds and that your money is wisely invested.
Our experience helping entrepreneurs sell their businesses will help you achieve your objectives and maximise the value of your business.