Thinking about selling your business this year?

Even if it’s within the next 2 years, now is the time to start planning. Your business is a major asset and, more than likely, its sale will provide the funding for your future plans so it’s essential to get it right. Once you’ve made the decision to sell it will take, typically, 9 – 12 months before the sale completes.

Start by being clear on why you want to sell and how much money you need the sale to realise. Do you want to leave the business entirely or continue to play a role in its development under new owners?

Get as much free professional advice as you can; you’ll find out what you need to do in preparation for sale, whether your expectations, in terms of value and timing, are achievable and also learn how the sale process works – so it’s worth doing your homework early.

Try switching your mindset from seller to buyer; what will a buyer see when he looks at your business? Of course a buyer will look for ways to get the maximum return on the investment, immediately raising the question “where’s the added-value?” which means looking beyond the assets on your balance sheet. There are many intangible assets that offer a buyer the means to make a high return – client base, brand, location, intellectual property to name but a few. Maximising those hidden assets will make the difference between an average and a great offer price.

Don’t get bogged down in the detail at this early stage – you can’t afford to take your eye of the business when you’re planning to sell! An Evolution CBS Masterclass is a great and informal way to get free professional (and practical) advice on how to move forward. The next 2 are being held in London in April and you can book online at evolutioncbs.co.uk.

Finally, be absolutely sure that you are prepared, emotionally, to leave your business. “Seller’s Remorse” is the main reason sales fall through!

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© 2019 Evolution Complete Business Sales Ltd.

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