When is the best time to sell your business?

When is the best time to sell your business?

When is the best time to sell your business?

Planning your exit strategy can assist in maximising your sale price and minimise the time your business is on the market.   Consider the following:

1. Sell when your business is still performing at the optimum. You may miss this period in time if you have not planned your exit strategy and decide as the business hits a downturn  to place your business on the market;
2. Make yourself redundant. Employ, train and upskill staff to undertake your role in the business.  It is difficult to sell a business that revolves around you doing every single task;
3. Provide accurate and up to date bookkeeping data. The higher  the turnover and net profit of your business, the higher sale price you will be able to achieve;
4. “Style” your business. Like selling a house, the more appealing your business appears visually to a client, the more attracted they will be to purchasing your business.  Sell off old stock, clean up your shelves, tidy up work areas, throw out old equipment and paint premises.

Please call Christina Comelli on 0402811002 if you would like to discuss your exit strategy.