If you’re looking to sell your business, then there are some steps you’ll need to take ahead of putting the business on the market.
There are many reasons people sell their business, change in circumstances, retirement, ill health, partnership or family split, or a change in direction.
The most important thing in selling your business is having a choice in selling. Choosing when you sell, rather than being forced to sell will often give you the best price for your business. Don’t wait until you can no longer operate your business, because the value with erode very quickly.
The preparation process in getting your business ready for sale is crucial. A fast sale means a new owner can walk in and take over with little impact to the business and bottom line.
There are things which will make a business easier to sell such as:
- Efficient and documented systems, processes and business plans
- Business is not owner reliant to run
- Good financial performance
- Innovative and different to competitors
- Motivated and loyal competent staff
- Loyal customers / goodwill
- Documented plans for disaster recovery and succession
Preparing your business to sell may take some time to ensure you have all your processes and plans documented, and we recommend you have at least 3 years of good trading figures to maximise your sales price.
Start early to plan for your next steps. This will ensure you maximise the sale price, and the sale process will go through as smoothly as possible, allowing you to move forward with your future plans.
PJT can help with your sale plans and put the necessary steps in place.
Talk to PJT's specialists today about how we can help you and your business.
What Client's Say
"PJT has always provided exceptional accounting service and advice relating to business operation, planning, taxation, investment and more.",
"The principals and staff are always approachable and display a sincerity in your business and situation.",
"PJT have made our life of running our own business much easier, knowing they are up to date with the latest in tax laws, and happy to help out with any queries we have,