Are you considering selling your business but aren’t sure of the best way to do this?
Jo Haigh offers advice on selling your business and gives an overview of the pitfalls to watch out for.
How to sell your business. Well, of course, you can sell your business and do all of the hard work yourself. It’s not a problem if you have nothing else to do. Just like selling your house, you can advertise it online, deal with enquiries, deal with the lawyers and the conveyancing teams, the ups and downs of the whole process. But, don’t forget, you still have a business to run.
Selling a business is not easy. It takes time, usually at least 9 months, and you will not have time to manage the process and run your company because, believe me, things do not run smoothly. You will have many a high, but you will have just as many lows.
Of course, you might be lucky and someone might knock on your door and make an unsolicited offer for your business. How exciting, it’s lovely to be courted isn’t it? The trouble is, a one-horse race is never a good idea. Unfortunately, I have seen too many deals where somebody has done exactly that, they’ve taken the vendor right to the finish line and then asked to renegotiate on price, and of course, the vendor has nowhere else to go. Think, is the first offer the best you could get?
Dealing with one particular acquirer can be fraught with problems. At fds we are used to that and know how to play all of the games that these buyers play and we can help you through this sea of turbulent water to make sure that, whether it’s an unsolicited offer or you want to actively market your business, we get the best deal possible on the best terms. Deals don’t fail because of value Ladies and Gentlemen, they fail because of terms.
With over 400 transactions under our belt, discover how we can help you sell your business here.