
Guide to Selling Your Business
General Preparation
In formulating a strategy for the sale of your business, thorough preparation, control of the process and good timing are all of particular importance.
Consider the following:
Do not under-estimate the amount of time, stress and potential distraction from the running of your business that will be involved in the sale process.
To make the most of the sale opportunity you should attempt, if at all possible, to sell at a time where you can demonstrate a track record of improving results but at the same time offer the prospect of further potential to be realised by the purchaser.
Take care in assembling your team of advisers, who are likely to include corporate finance advisers, corporate lawyers, your accountant and your tax adviser.
With the help of your corporate finance adviser, form a realistic view as to price expectations for the sale, consider the taxation implications of the transaction and identify exactly what is to be sold – e.g. shares or the underlying assets.
Plan ahead – the sale process is likely to take at least six to nine months but to obtain the best price you may need to plan ahead for two or three years.