It’s a question many of us will be facing. Perhaps not now, or in the near future. But the opportunity to sell your business may come along, either planned or by chance. Whatever the circumstance, you should be ready. The sale process can be intense and happen quickly so make sure you do it right, cover your bases and prepare for a successful exit. It’s never too early to start.
The process involves the transfer of managerial control, assets, ownership and an occupation. Successors must be selected and groomed. The timing of the transition and managing the entry and exit of family members is one part of the process. Estate planning and the preservation of… Read More >>
Want to maximise your business wealth before you sell your business? If so, you’ll need your staff to be focussed and engaged to do this. Some possible concerns to address may be: You are not sure what your business is worth Your business is ‘owner reliant’ No formal succession plan Past staff… Read More >>
We advised a client “David” (53), owner/operator of a successful business providing professional services to the building and construction industry. David had started thinking about retiring and believed all it would take is not getting out of bed to go to work. Until he spoke… Read More >>
A ‘Business Value Gap’ is the difference between the value of your business today and what you need it to be at time of sale. A shortfall can have a significant impact on your retirement plans and may force you to reassess your desired standard… Read More >>
Consider the following: Only 1 in 15 (7%) retirees live on an annual income of $70,000 or more. Almost one million people have returned to work since retiring. Four in ten retirees maintain that you need the same or a higher amount of income in… Read More >>
Sellers beware! When selling a house, real estate agents will always advise that a little preparation and planning will assist in achieving your desired sale price. Making sure that the gardens are tidy, the interior is clean and pest treatments are up to date are all simple matters that… Read More >>
Business Succession and Your Customers A key concern that is sometimes overlooked when considering succession is the impact that the change in ownership will have on customers. Addressing the concerns of your customers is critical to ensure that they are confident with the new business owner/s.
Life Balance “While you were working, your children grew up and moved out”. To ensure that this comical phrase doesn’t apply to you, the importance of a “Work Life Balance” is vital. It is also an issue that will become increasingly important to “Gen Y” employees seeking… Read More >>
Is your business really worth what you think? According to recent research, 49% of business owners nominate a “trade sale” of their business as their preferred and most likely succession planning exit option. With record numbers of businesses selling, business owners are often disappointed when the offer… Read More >>