How To Make It A Success
Selling a business is a complex process that requires many considerations and should be planned well in advance with a professional adviser.
Whether you make any profit from the sale of your business will depend on many factors including the timing of the sale and the profitability of the business. Selling a business requires a lot of your time pre, during and even after the sale. And once sold you may still need tax efficient wealth strategies. Although it’s not always possible, we strongly suggest working toward the sale of the business years in advance in order to maximise opportunities.
Leenane Templeton can help throughout this process and has experience working with many clients throughout the entire process.
The following general considerations can help you consider what’s involved in a successful sale. For a detailed conversation please call our team on 02 4926 2300.
Why are you selling the business?
The reason for selling your business is the first thing every buyer will want to know. Most business owners may sell their business due to:
- Good Planning
- Burn out
There are those business owners who may think of selling their business when it’s not making any profits. However, this only makes it more difficult to attract buyers. Before you make up your mind to sell your business, focus on your true goals and speak with an advisor.
Prepare for the sale of your business early
Get ready for the sale of your business as early as possible, setting up systems and procedures years before placing it in the market will be a great advantage. This preparation will assist you in putting together the structure of your business, financial records and client base to reap maximum profit from the business. These improvements will make it easier for the buyer and help the business run smoothly.