Should I sell my business myself?

Whilst it might seem appealing and cost effective, the answers is categorically, “No.” There are 4 compelling reasons why this route will considerable cost you in terms of wasted time and hard cash.

1.  You will take your eye off running your business

It takes in excess of 1,000 hours, spread over up to 12 months, to sell a business
properly. No business owner I’ve ever met has this spare capacity in their life.
Focus is therefore inevitably split and the financial performance of the business usually suffers. This is the last thing you want when preparing a company for sale. Evolution will work those hours for you, enabling you to concentrate on running your business unhindered.

2.  Lack of data resources

Key to finding a number of strategic buyers bidding to buy your company is excellent research.  Do you know who is buying who in your sector and what they are paying?  Do you know which “out of sector” companies are looking to move into your industry by acquisition?  Evolution has access to over 55m global company records and a number of databases which identify who is on the acquistion trail and should therefore feature at the top of any research list.

3.  Lack of choice competitive tension

Restricted time and resources mean very few potential buyers actually come to the negotiating table.  Therefore the negotiation iniative remains with the buyer, not the seller.  Normally, this means valuations are disappointingly low.
Evolution brings an average of 7 strategic buyers to the table for each client and this generates 4 offers.  Negotiation strength then switches to the seller.  You have choice and as a result price rises and exit terms are enhanced.

4.  Most owner/managers have not sold a business before

Selling a business properly is a specialist skill, with many pitfalls awaiting you.  How do you keep momentum in the process?  How do you leverage price without losing potential buyers?  How do you ensure your company is prepared for the rigours of “due
dilgence?”  The Evolution team has over a century of experience in selling privately-owned businesses.  They have successfully sold literally hundreds of businesses across most industry sectors.  We will put together a team of 7 professionals to assist you in you in selling your business for all it’s worth.

 To find out more, please contact us on  info@evolutioncbs.co.uk  or alternatively go to evolutioncbs.co.uk/seminars.htm

Rob Goddard
Managing Director
Evolution Complete Business Sales Ltd

 

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