How to transfer business ownership

Posted by James Price | JPAbusiness on 20-Mar-2019 02:00:00

When buying or selling a business, the last thing you want is a handover whereby the business performance is negatively impacted by transfer issues not planned out ahead of time and dealt with appropriately.

There are several important issues a vendor and, by definition, a purchaser need to consider and deal with in the transfer process leading up to settlement.

There is quite a bit of interplay and overlap between the issues but, for the purposes of this blog, I have separated them into seven categories:

  1. Employees
  2. Financial
  3. Customers
  4. Suppliers
  5. Stock
  6. Legal
  7. Other.
Continue reading...

Topics: Buying a business, Selling your business, Business transfer, business advice, Business advisor, Parramatta, Orange NSW

5 tools to help seal the deal when selling a business [cheat sheet]

Posted by James Price | JPAbusiness on 20-Mar-2019 02:00:00

Over the past few years we’ve produced a number of resources to help our readers and clients navigate the business sale journey.

For the record, Step 1 of selling is always the same: Ask yourself ‘what is my objective in selling?’ Why you are selling needs to be very clear in your mind, and the minds of your spouse, shareholders, business partners and so on, in order to set yourself up for a successful sale.

At the other end of the selling process is ‘sealing the deal’ and this is not without its challenges. The cheat sheet below introduces some of the tools we use to manage information flows during the detailed due diligence process and, ultimately, seal the deal.

Continue reading...

Topics: Selling your business, Due diligence, cheat sheet, business advice, selling a business, Business advisor, Parramatta, Orange NSW

How to talk to your family about succession and estate planning

Posted by James Price | JPAbusiness on 13-Mar-2019 02:00:00

When it comes to succession and estate planning, it’s never too early to start thinking – and talking – about it.

However, some business owners prefer not to confront their own mortality and just continue on running their business while avoiding thinking about, or planning for, the inevitable i.e. their ‘exit’. This creates the perfect environment for conflict among those left behind.

Continue reading...

Topics: Succession planning, business advice, Business advisor, Parramatta, Orange NSW, estate planning

What info should I share when selling? [infographic]

Posted by James Price | JPAbusiness on 27-Feb-2019 02:00:00

When selling a business, you need to provide solid, robust and transparent information to support the performance of the business if you want to attract a confident purchaser who is willing to bid up strongly.

The more clearly you can describe your value proposition and present supporting information in the business sale process, the more chance you have of driving business value. Remember, for a business person, information can reduce risk and, therefore, increase confidence.

The following infographic is a simple guide to 10 key pieces of information you need to share when selling your business. 

Continue reading...

Topics: Selling your business, infographic, business advice, selling a business, Business advisor

When is a good time to sell or exit your business? [video]

Posted by James Price | JPAbusiness on 20-Feb-2019 02:00:00

 

Seeking to exit a business just a few weeks or months after making the decision to do so, is not the best way to optimise value in a business sale.

As I explain in this video, it’s much wiser to incorporate exit and succession plans into your ongoing business planning and prepare for a sale over a period of several years.

Continue reading...

Topics: Business Value, Selling your business, Exiting your business, Video, business advice, selling a business, Business advisor, Parramatta, Orange NSW

Thinking about selling? Use our Selling a Business Planning Sheet [template]

Posted by James Price | JPAbusiness on 20-Feb-2019 02:00:00

Selling a business is a massive undertaking and not one to be entered into lightly.

We created our free Selling a Business Planning Sheet as a ‘first step’ resource for business owners thinking about selling.

The template contains 20 questions designed to prompt you to undertake the necessary thinking, planning and acting that will ensure you and your business are well prepared for the sale process.

Continue reading...

Topics: Business Value, Template, business advice, selling a business, Business advisor, Parramatta, Orange NSW

Western Sydney new frontier for JPAbusiness

Posted by James Price | JPAbusiness on 13-Feb-2019 02:00:00

The JPAbusiness team is excited to announce that we have opened an office in Parramatta – the Western Sydney hub poised to become Sydney’s ‘second CBD’.

The Parramatta team will be led by Valuation Advisor Alex Dzang and will work closely with our Orange office.

Establishing a base in Sydney has been a natural progression for JPAbusiness, as we have experienced increasing interest from business clients across the Sydney basin. And with Western Sydney, in many respects, the growing heart of the Sydney metropolitan area – albeit still with strong links to country NSW – Parramatta was the logical choice.

Continue reading...

Topics: Buying a business, Valuations, Business advisor, JPAbusiness, Parramatta, Orange NSW

Hiring staff – 3 things to do before you interview [infographic]

Posted by James Price | JPAbusiness on 30-Jan-2019 02:00:00

When hiring new staff there are a number of issues that need to be dealt with by a business owner or senior manager before a recruitment interview process begins. It’s much harder to retrofit this important information into a recruitment process after the fact.

We've created the following infographic to help with that pre-interview planning process. It sets out: 

  • the 3 tasks to undertake before you begin the interview process;
  • examples of what you might consider when carrying out each of those planning tasks.
Continue reading...

Topics: infographic, staff management, business advice, Business advisor, staff recruitment, hiring staff

How to use our Strategic Value Checklist to build your business value

Posted by James Price | JPAbusiness on 23-Jan-2019 02:00:00

The JPAbusiness Strategic Value Checklist has been created to help you drive positive strategic value in your business.

Don't wait until it's time to sell or exit to work on the business characteristics listed in the checklist. While strategic value drivers are not always quantifiable (as we discussed in our free eBook Strategic Value in a Business Sale) they’re not fairy dust either. They can’t be created with a magic wand overnight!

Strategic value drivers result from real actions you can take to enhance year-by-year earnings in your business, and also potentially assist you to capture extra value on exit of your business.

Continue reading...

Topics: Business Value, Selling your business, Advice, Valuations, Exiting your business, Checklist, Business advisor

How to put a price on ‘strategic value’ when buying

Posted by James Price | JPAbusiness on 23-Jan-2019 02:00:00

One way of quantifying a business’ strategic value, at least to some degree, is to consider the ‘buy versus build’ scenario.

Ask yourself: ‘If I was to buy this business, what additional value over and above the fair market value would I get and could I achieve that same value simply by growing my own business?’

Often as business valuers we will determine a fair market value for a client’s business and then, under a separate and subsequent engagement, be involved in selling that business.

In general we find that for every 10 people – businesses or investors – who are interested in purchasing the business, about three of those 10 are already operating in the same market.

Continue reading...

Topics: Business Value, Buying a business, Advice, strategic value, Business advisor, valuing a business

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

JPAbusiness

Topic

more

Recent Posts