When to market your business.
There are many reasons why a business owner may decide to sell. It could be a result of a planned retirement and succession issue, an investor looking to exit, change of focus, reduced interest in the business or simply reaching a point where the business needs the energy and financial support of a larger group to continue expansion.
Regardless of the reason, it is imperative that you allow enough time to plan your exit and find the right buyer. Many business owners do not act until the business has reached a plateau or is in decline, some simply leave the planning and marketing until a few months before they wish to sell. All of these mistakes will prove a major disadvantage when you want to sell. Whenever possible, start the sale process when the business is doing well and try not to rush the sale process. A good business always sells.
To secure the best deal for your business, you simply need to plan ahead. Competitors and buyers that approach you directly are unlikely to pay a premium for your business whereas other trade or private buyers identified through research and marketing are more likely to. As a minimum we recommend 12 months from initial marketing to sale completion. Sometimes sellers are lucky and complete a sale in less time, however the first mistake made by many business owners is to rely on luck rather than taking the initiative and planning early.
Talk to us about the sale of your business, free valuation and sale appraisal. You can contact us on 0330 133 2021 or email us at [email protected]