Are you considering selling your business? If so, it’s important that you correctly prepare your business for sale before going to market.

Selling a business can be an emotional and complex process, so it’s vital to start prepping early and ensure that your business is ‘sale ready‘. This will guarantee you get the best possible value for your hard work and investment when it comes time to sell.

We know that being confident and well-prepared will give you the best chance at a successful outcome, so we’ve compiled a few tips and tricks to help you along the way.

Watch the video below for some guidance on how to prepare your business for sale.

 

 

how to prepare your business for sale

  1. Prepare your financials: make sure your financial statements are up-to-date and accurate.
  2. Document your operations: create detailed documentation of your business operations, including your organisational structure, standard operating procedures, and other important information.
  3. Assess your assets: take inventory of all your assets, including physical assets like equipment and property, as well as intangible assets like patents and trademarks.
  4. Understand your market: research the market and competitive landscape to understand where your business fits in and what potential buyers might be looking for.
  5. Seek professional help: consider hiring a business broker, and speak to your lawyer and accountant who are there to help you navigate the selling process and ensure you get the best possible value for your business.

 

Originally authored by Brendan McGrath.

 

we’re here to help

If you are considering selling your company, give the team at businessDEPOT Legal a buzz on 1300BDEPOT or get in touch via legal@businessdepot.com.au to discuss how we can help you.

 

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general advice disclaimer

The information provided on this website is a brief overview and does not constitute any type of advice. We endeavour to ensure that the information provided is accurate however information may become outdated as legislation, policies, regulations and other considerations constantly change. Individuals must not rely on this information to make a financial, investment or legal decision. Please consult with an appropriate professional before making any decision.