When should I start planning for a sale of my business?
It is never too soon to start thinking about your options for the sale of your business. The more time you give yourself, the more time you will have to make changes so that your business becomes more valuable and saleable. Starting to make plans three to four years away from a planned retirement date should be sufficient time to assess your options and make the necessary changes.
Why would I need a business valuation?
It is important for you to have an understanding of the valuation of your company as early as possible. If the valuation is significantly above or below your expectations, you may wish to reconsider the timing of your sale. It is important that you understand the basis for any valuation you are given and that you understand the difference between the standalone valuation of your company and the value a strategic buyer may pay.
What can I do to improve the value of my business?
I’ve had a few difficult years. Is now a good time to sell my business?
There are very few businesses who have been unaffected by the economic pressures experienced in recent years. Some sectors have been less severely affected than others, and there are plenty of examples of companies which have thrived during the downturn.
It is always better to sell a business when it has a profitable track record and when it can be demonstrated to a buyer that there are plenty of profitable opportunities in the pipeline.
The fact that your business has survived the downturn is an indicator that is has been robust enough and flexible enough to adapt and survive when others have not.
We would be happy to discuss your circumstances and the recent performance of your company and advise on whether or not now might be a good time to sell.