Positioning A Business For Sale

Date: 09/08/2010

If you're thinking of selling, don't rush into it. Taking time to lay the groundwork will pay off in the long run

Deciding to sell your business is a major strategic issue - don't embark on it quickly or lightly. Adrian McFedries of DC Strategy has advised hundreds of business owners, and sold businesses he has developed himself. He says you need to start your planning 2 or 3 years ahead, don't make a kneejerk reaction to an enquiry or simply because circumstances have changed. You need to consider how sustainable the business will be when you're no longer involved - that's an indicator of its real value, and you might need to make changes before you sell. Ensure you have a document that summarises the business and sets out its future development. Get external advice, and think about how a buyer will finance the purchase. Finance is crucial, don't leave it until the end.