Why Act NOW!
Why do you need to be preparing your business ‘Ready for sale” NOW?
Because, if you think you can wake up one morning, decide to put your business on the market and have a sale completed in a few weeks or months – then you need to think again!
HOW LONG DOES IT TAKE TO SELL A BUSINESS?
Depending upon the “sale readiness” of your business, it could take three years or more to get it ready to sell. That’s why I recommend you get me to conduct a business ready for sale assessment on your business NOW!
ISSUES AFFECTING THE SALE AND VALUE OF A BUSINESS
Apart from the state of the business, other external factors are affecting the values and sell time for businesses. The following is a summary of data from a recent edition of Business Values Newsletter published by Jarot Business Valuations based in Perth, Western Australia.
(1) Due to the very low unemployment in Australia at the moment, very small businesses are proving difficult to sell. That is, businesses making less than $150,000 per annum for the owner. This is because no-one is looking to buy themselves a job.
(2) Baby boomer business owners are wanting to sell and retire and this number will continue to increase for years to come.
(3) Most brokers are not taking on businesses with less than $250,000 or $300,000 in profit to the owner. Businesses at the bigger end of town, over $2million in profit are attracting buyers and investors.
(3) Buyers have become very risk averse and are looking for “safe haven” businesses to buy. Anything that’s considered risky will be very difficult to sell
(4) Finance to buy businesses is still hard to come by making it difficult and drawn out to complete the sale process – if it completes at all.
Having said all that, a really well prepared business in an “in demand” sector will sell well. I’ve been involved with some businesses over recent years that have sold very well because we spent the time getting them “ready for sale”. See the testimonials on this website.
Remember, a business that’s ready for sale is well worth keeping. Build your business as if you are going to keep it for ever but could sell it tomorrow. Better still, make your business so attractive that people come knocking on your door wanting to buy.
HOW DO I START TO GET MY BUSINESS READY FOR SALE?
Take my free online Saleability Quiz. You will get a presonlaised report rating your business across 7 different areas. It will also give you tips on how you can inprove your score.
When you have youe report, book a no obligation 30 minute chat with me to discuss your situation and get some ideas. Just use the buttons below to get started.
Every business owner who has any ambition at all to sell their business one day, and cash out with a good sale, needs to be planning and preparing their business ready for sale EVERY DAY.
A business that is ready for sale will be much easier to manage, run without the owner, be much more successful and will attract buyers. This is the situation you want to be in so that you can have options to sell for the price you want, when you want to. You should be in control of the whole process.
Take the saleability quiz now. It's quick and free.