Selling a Business

Selling your business is a significant decision and will change many aspects of your life.

The reasons for selling a business can be varied and whatever your reasons, it is important you prepare an exit strategy so that you get the best price possible. An exit strategy spells out how you plan to sell the business or pass it on to other family members.

Ideally, you need to plan your business exit strategy well before you decide to sell. Getting out of business is a process, and the time taken is related to the complexity of the business and your reasons for selling.

There are four steps to selling your business starting with a decision to sell through to accepting an offer.

Step 1: Should I sell my business?

Selling your business will change your life so it's a good idea to consider the options and implications before you decide to do so. Whatever the reasons for selling your business, ensure you're making the right decision. Read more…

Step 2: Preparing your business for sale

You only sell your business once, so you've got one chance to get it right. You don't want to regret selling your business for less than it's worth due to poor preparation. Read more…

Step 3: Setting the right price

Determining the value of your business is the most contentious part of selling. You want to set the highest price the market will bear so that you're rewarded for the years of hard work you've put in, while the buyer wants the highest future profitability for the lowest price. Read more…

Step 4: Making the sale

Once you've prepared your business for sale and determined its value it's time to find a buyer, but that's easier said than done! Read more…

What's next...

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