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How to get the best price
when you sell your business
Step One
Ask yourself these questions:
ü Am I serious about selling?
The reasons for selling are numerous and include,
retirement, relocation, a change in career, a change in health,
change in relationships (e.g.
ill health or partnership split),
capital gain, operations become too large to manage personally, or
owners lack of ability to provide capital necessary for expansion.
The reasons for selling is one of the first things any buyer will
ask).
ü
Am I willing to use the help of outside experts?
ü
Am I willing to meet the market price?
ü
Do I have accurate and up to date records?
ü
Do I have realistic time expectations?
(It often takes three months to six months to find the
right purchaser, and another 30 days to complete the transaction).
ü
Is my business going to be presented in it’s best possible light?
ü
Have I picked the right time to sell my business?
The optimum time to sell your business is just prior to its
peak. At that point you are most likely to sell in a timely
fashion, and achieve the best compensation package for your
business. It is important to make plans for a transition before the
signs of burn-out and apathy show up on your financial statements.
Businesses that show downward sales and profit trends tend to scare
purchasers away and/or erode the optimum value you might receive for
your business. If you know that retirement or a change in career is
going to happen, start making plans to find the right successor to
your business.
Call us at 09 630 1600, toll free on
0800 180 222, visit our website
www.abcbusiness.co.nz or email Managing Director Steve Smith (AREINZ)
on
steves@abcbusiness.co.nz |
