Selling a Small Business

When selling a business of any kind the rules are the same if you want to achieve a successful sale. And the essential key is to prepare properly and have the right team in place to help you achieve your goal. There are many and varied reasons for wanting to sell a business; some personal and some not. You may wish to retire to enjoy the wealth you have created; there may be insurmountable problems at board or shareholder level or there could simply be no-one available to take over the business after you leave. No matter what the reasons are, you need to have a good team in place that can help steer you through what can be a tricky time. A team that will represent your business and work with you to promote it in a manner which inspires confidence in a buyer that the business is reputable and sustainable.

Hiring an Advisor

Once you are clear about your wish to sell and your reasons for selling you then need to make an objective assessment of all aspects of your business. And it is here you have to be careful not to over or undervalue your business. You need to find out how to prepare your business for sale and how best to offer it on the market and here is where a professional business sales advisor can help because sometimes you can be too close to the business to view it objectively. Your advisor is one who has vast experience and know-how when it comes to the nitty-gritty of preparing and valuing your business ready for sale; spotting potentials for maximising the value and developing an action plan. They can help you to review your personal objectives and time scales, in other words, help you to understand what you want to achieve in terms of profit and turnaround. They can also help to identify any potential problems and work out solutions along with alternatives. Once all this information is in place you will find yourself better able to make an informed decision on how to proceed.

The Right Team for the Job

This is crucial to achieving the best result for you, for the business and for all those involved. When your business is in profit and you are confident this can have a positive effect on the price so it is important to time things correctly and push on with the sale once your business selling agent has worked with you to prepare the business and helped to achieve the maximum value. Getting the right acquisition team together is vital to your success and is a task that should be carefully thought out. The acquisition team must be up to speed with your exit strategy and with your aims and expectations. They will help with all aspects of selling your small business, from valuation and preparation through marketing and negotiations but you must not be afraid to reject a deal that is not right for you.

Call Kingswood today and let us take away the stress of selling your business.

When we chose Kingswood to sell our business we believed that their simple, easy to understand proposition to sell our business “a better way” was just what we wanted.This is exactly how it worked out with professional support from beginning to end. And the fees were exactly as quoted!

I would use Paul Holohan and his team at Kingswood again without question.

Bob Hanks