Taking the time to prepare your business for sale is one of the most crucial steps you can take before listing.
We spoke to Brad Dean who is the newest member to our businessDEPOT Agency Broking team.
Brad suggests these top 5 tips in preparing your business for sale
- Make a solid decision to sell. List your objectives of the sale. Determine the dollar value you need to achieve to reach these objectives.
- Take a buyer’s view of your business. Take a walk from the front door to the back door and think about how your business would be viewed.
- Have a good team in place who can assist with a business sale transaction. This may mean looking outside of your standard conveyancing solicitors and seek advice from specialised legal team. Sit down with your accountant and tax advisors to ensure there are no financial surprises.
- Review your administration housekeeping to make sure vital documents are up to date. For instance; employment agreements, real estate licences, insurance, equipment lease agreements, premises leases, Form 6 agreements.
- Review your own participation in the business. How does your involvement impact the day to day running and success of the business?
To learn more about preparing your business for sale, watch our 2 minute video below.
If you are interested in buying or selling a rent roll please contact Alan Dawson or Brad Dean for a confidential discussion about our business brokerage services and what we can do for you.