Conversations with Andrew Andrew Johnson
Preparing your business for sale It’s exciting, challenging and time consuming to buy a business and run it yourself. Beyond immersing yourself, in the starting and running of your business it’s just as important to plan for the future. Your exit from the business in the future, and preparing your business for sale is an important section of your ongoing business plan and strategy.
Planning and taking the time to prepare for this future event is not only wise, but will provide the best chance for you to realise the best return and sales price for your going concern, no matter when that may be.
We never know what the future may bring, but we can prepare and consider our options beforehand providing a framework and safety net to protect our interests in the future and best position your business for life’s eventualities.
So many business owners may rush into a sale and do not take the time to position themselves for best results, which at a minimum is 12 months beforehand. Being so involved in the business, dealing with the daily running, challenges, obstacles it’s like being too close to the trees to see the forest.
No one wants to be in a position in the future when a fire sale is required or the selling price for your business is not the strongest it could be. For those that start a business and enjoy the adventure at some time in the future there comes a time when it needs to be sold.
So, look at all the requirements needed to sell your business in the future and research all the angles to best position the business for a strong result.
Hepburn Hepburn | | 33 33
