You’ve worked hard to build your business and you’re thinking that it’s time to sell and move onto the next challenge or maybe just put your feet up for a well
Selling a business is not like selling a house – there is often a lot of work that needs to go into it before you can stick the ‘For Sale’ sign out the front. This process can often involve a three – five year lead time to ensure that your business is in the best shape to achieve the price you want.
Halifax Advisory can help you via the following services:
Business value estimates - Find out if it’s really worth what you think. You may be surprised to know that approximately 75% of businesses sell for less than what the owners estimate. Doing this well ahead of when you actually want to sell will give you time to make any changes to get the value up to where you want.
Preparing your business for sale - Most people want to pay the lowest price possible when buying anything. A business is no different and a buyer will be quick to discount the price if they don’t have confidence in the financial information you give them. Presenting them with high quality information at the outset and having answers to any of their queries at your fingertips will help.
Management team buyouts - Sometimes the best people to buy your business are right under your nose – your senior, trusted staff. They know the business and clients inside out so the sale process is often much easier. There are, however, many ways of structuring these transactions to get the right outcomes for both buyer and seller.
Tax Advice - Find out how much of the sale proceeds you will keep after any taxes are paid before you sell. The Small Business CGT concessions are highly complex but used correctly they can help to maximise the amount much you will end up with at the end of the day.
While our focus is the financial aspects of the sale, we can put you in touch with a range of experts from our trusted network to help with things such as advertising your business, legal agreements, financial advice on what to do with the sale proceeds and pretty much anything else you will need to make the process as smooth and stress free as possible.