Seller's checklist
Preparing a successful sale
Careful planning, sound professional advice and open dialogue - these are some of the keys to a successful deal. This checklist covers some of the main points you should address.
- Think through your reasons for selling. What will a sale allow you to achieve in your personal life?
- What is important to you? Do you want the maximum cash price? Perhaps you are looking for an early exit from the business or security for your employees? Make a list of your priorities.
- Get in touch with your bank and your other professional advisers. They'll help guide you through the deal, allowing you to concentrate on running your business.
- Stay realistic. Remember that your business is only worth what someone is willing to pay. Earning multiples and other valuation methods rarely reflect the true value of a business.
- Management buy-outs - keep an open mind. You may be surprised at how much your team can raise, especially when they have the right professional advisers in place.
- Don't stop talking. It's important to keep talking to the buyer - especially if negotiations start to get tricky. It's better to meet face-to-face than rely solely on emails and letters.
- Be prepared to wait. Even with a willing buyer and seller - and experienced professional advisers - a deal can take at least three months to conclude.
- Keep your mind on your business. Don't allow the sale to get in the way of running your business. This is especially important in order to secure your ideal price.
Find out more
For more info about how to sell your business please call us on 0800 073 2257.
