When’s the right time to sell my business?

Here's how you can prepare to sell your business

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Selling your business can be an emotional process. You might have built it from nothing, and formed close relationships with customers and employees. Or you might have set it up with the sole intention of selling it when the time was right.

Whatever your situation, it’s good to have an adviser to guide you through the final years, helping you to plan and achieve the maximum value for your business.

Preparing your business for sale – the key steps

  1. Planning ahead – make sure your business is in good shape, to make it easier to sell.
  2. Getting advice – explore all the options on how to sell, allowing several years to prepare.
  3. Building a mid to long-term strategy for the business – although you want to exit, your buyer is always interested in a viable future for the business, and therefore so are you.
  4. Ensure realism – avoid listening to enthusiastic valuations; your business is worth what someone will pay, and no more.
  5. Differentiate and protect – businesses with something unique and protectable about them tend to be worth more.
  6. Delegate – you will generally need a business that runs without you to get the best value, and have the most options.
  7. Pay for good leadership and management – experience and ability are worth their weight in gold in helping you develop your business and increase its profitability, growth and value.

If you’re considering selling your business, or looking for advice, let us know how we can help.