… Plan for Maximum Benefit
Selling at the right time can have a significant impact on the price and deal that you achieve. If possible don’t make a last minute decision and don’t be forced into a sale. Try and plan ahead and decide when you want to sell. In this way you give yourself sufficient time to groom the business into a shape which will be most attractive for a potential buyer. Consider the marketplace with particular emphasis on your sector.
Planning a sale well in advance is probably one of the most important aspects to achieving the maximum price for your business and ensuring that a sale goes through with minimal complications. Grooming the business for sale may include tidying up contractual documentation, ensuring that employee documentation is up to date and effective, establishing the ownership of assets and intellectual property, dealing with outstanding litigation and considering the tax implications of sale. Streamlining and preparing your business for sale is essential and should not be neglected.
Please feel free to contact Umberto if you wish to discuss any aspects of a sale in more detail. In our next article we will look at how businesses are valued and how to choose an adviser.
Company & Commercial Partner