There are many approaches to selling a business, but the one rule that is in every 'how to manual' is to start planning early. Nothing will unlock the value of your business better than planning your exit well in advance. Quick sales are fire sales with the purchaser usually picking up a business for less than its true value.
Planning to sell your business should start at least 6 months in advance. Here are just some of the questions you should be able to answer before you decide to sell;
Your Accounting/Tax advisor should be your best resource to help prepare of your business exit and along with legal advisors they should be consulted at the start of your 'Planning Your Exit Strategy'.
Areas your accounting/tax advisor should help with are;
A good idea if you are looking to sell your business you should start thinking about it from how a purchaser would approach buying a business.
Prospective purchasers should only buy a business after conducting due diligence, which means getting and analysing all the information you need to decide whether to buy and how much the business is worth. This should include getting an independent business valuation.
We can help in the planning options, the presentation of your business to present it as an attractive package, which could add substantial value to your business. Selling a business has many different stages. With our experience in small business we can add value of the importance to detail, we will give your buyers the right financial presentation of your business.
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Investngro Pty Ltd ABN 53 113 102 695 trading as Murray Nankivell Financial Planning, is an authorised representative of Count Financial Limited ABN 19 001 974 625 holder of Australian financial services licence number 227232 (“Count”). Count is owned by Count Limited ABN 111 26 990 832 of GPO Box 1453, Sydney NSW 2001. Count Limited is listed on the Australian Stock Exchange. Any taxation and accounting services are provided by Murray Nankivell and are not within the authority Count. The information on this web site is not financial product advice and is provided for information only.