At this time of year, most people begin thinking about what they can improve and change in the new year ahead. Whilst many people have bold plans to set goals and change bad habits, for business owners January is often a time for deep thought on the next steps to take with their business. For many business owners, plans will be afoot to initiate growth strategies. For some business owners however, now is a time when they will be thinking about selling their business. If this is you, read on to discover our advice on what you should do to make 2020 the year in which you successfully sell your business and realise a reward for all of your hard work over many years.
Kick off the year by securing some quality pre-sale advice
Pre-sale advice outlines in simple terms:
1. What your business is worth (i.e. the value of your business);
2. Any issues or risks contained within your business that need to be tidied up to make the sales process successful;
3. Who the likely buyers will be for your business, and;
4. The sales process that should be followed to ensure you have the best opportunity of securing the best price and terms for your business as part of its sale.
In our experience, pre-sale advice is invaluable for business owners who wish to sell their business for the highest price and the best terms possible. It is an opportunity for business owners to step back from the day-to-day operation of their business and to put in place a plan for selling their business. It also gives business owners a chance to see what the future may hold so that they can better prepare for life after their business has been sold. If you would like to find out more about pre-sale advice and how it can benefit you call our office today on 1300 784 667 to schedule a FREE appointment with one of our Directors.
Make sure your business is running at its full potential
Too often, business owners contemplating the sale of their business “take their foot off the gas”. When your business is on the market for sale, it is on show and should be operating at peak performance levels! The result of a business owner stepping back prior to the completion of a sale can be dramatic, leading to a poor sale price and terrible contractual terms. Sometimes it even results in the non-completion of a sale due to minimal buyer interest.
Be prepared for a long process
Unfortunately, the sale of a business is a time-consuming process taking between a minimum of 3 months and sometimes over 12 months to complete in full. This is true for both relatively simple businesses and for rather complex entities. On this basis, if you have decided that 2020 is the year that you would like to sell your business you should act now and get the ball rolling.
Contact Us Today
At Quinn M&A we have significant experience in advising on and executing the sale of businesses and companies throughout Australia. Our expertise lies in completing the sale of businesses and companies that are valued at between $1 million and $50 million, and we have experience working with a range of different industries and business types. To find out more about how we can help you call us on 02 9223 9166 or submit an online enquiry for a confidential discussion.