Identify the value of your business
General Breakdown
Why are you selling your business? It could be you’re ready to retire or wanting to release capital to start a new venture. Perhaps you’ve had partnership disputes and want to move on, or profits are dwindling, and you’re afraid of losing more money.
Meet, Understand & Discuss
Whatever your reasons, you should keep your end goal in mind at every step. Whether you have an amount you need it to fetch or a deadline you want to be out by, these objectives will make the process more focused. You should be prepared for the deal to take six to nine months at least, so getting prepared early will be crucial to achieving your goals.
Look at the business top to bottom, side to side
A key part of selling a business is making it as attractive as possible to secure a buyer. It’s a bit like preparing a house for sale – you want it looking its best.
Here are some steps you can take:
- Build a strong team and corporate structure that would be appealing to buyers
- Fix and/or replace broken equipment (and tidy up the premises!)
- Settle any disputes with suppliers, employees and clients
- Get all your contracts and leases in order
- Reduce your personal expenses
- Prepare up-to-date accounts – ideally to sell at or just after year-end
- Gradually pass owner responsibilities to the management team
- Speak to advisers (tax, legal and accounting) on possible deal structures
What happens next
Call us for a free consultation, we will talk you through the process and answer all your questions and concerns.
We are leading consultants on sale and acquisition of businesses in NZ.
We are extremely grateful and honoured to serve our regular clients and welcome any new enquiries. As always, we promise to listen and learn about your business, act with integrity, assuring you of a professional and complete service, along with humility, honesty and trust.
