Are you Ready?
Your Business Sale & Exit
You should start planning you business exit in advance if you want to achieve the best price and guarantee a smooth exit
There are many reasons why a business owner may decide to sell. It could be the result of a planned retirement and succession issue, an investor looking to exit, a change of focus, reduced interest in the business or they have reached a point where the business needs the energy and financial support of a larger group in order to continue its expansion.
A common time to consider an exit is when a business is in between its growth and mature phase. Once the business is 10 to 25 years old, with the stability, opportunity and track record to reassure acquirers, it can normally generate competitive tension between more than one strategic buyer and command a sensible sale premium over any offer presented by a strictly financial orientated buyer.
What's your exit plan
Whatever your reason for selling, it should be based upon clearly defined objectives and consideration of the alternatives. The sale process can be time-consuming, stressful with commercial risks. Therefore, it is important to receive advice and support from experienced professionals to help guide you through the process.
You will only sell once
Your business is unique, and the support and advice you receive must be focused towards your exit objectives. Selling any business needs careful consideration and planning. When selecting an adviser to help you sell, you should perhaps avoid the ‘one service fits all’ generic business broker and find a value-added, marketing-led firm who understands how to secure the right deal.
Your successful Exit
Regardless of the reason, it is imperative that you allow enough time to plan your exit. Many business owners do not act until the business has reached a plateau or is in decline. Some simply leave the planning and marketing until a few months before they wish to sell. All of these mistakes will prove a major disadvantage when you want to sell.
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