The simple answer is ‘no’, you don’t need a valuation to sell a business.
However, in terms of engaging JPAbusiness to sell your business, the answer is a resounding ‘yes’, you do need to get a valuation before you embark on a sale process.
The reason for that is part of our point of difference among business brokers. It’s based on a lesson learned early in the life of JPAbusiness, and backed by years of subsequent experience.
Topics: Case study, business advice, selling a business, Business valuation, Business advisor, James Price, JPAbusiness, Parramatta, client case studies, Central West NSW, transaction advice, business sale transaction advisor, selling my business
A few years ago we worked on a business sale transaction in which one side had far less robust advice than the other – you can guess which side was which!
Our client – the vendor – was selling a reasonably large, engineering-style business.
The purchaser – while a successful business operator – was not experienced at acquiring businesses and did not appear to have thought deeply about the sort of expertise they would need to advise and guide them.
Topics: Buying a business, Advice, Case study, business buying, Business advisor, business broker, risk management, James Price, JPAbusiness, Parramatta, client case studies, buy a business, Central West NSW, business buyer
The simple answer is ‘no’, you don’t need a valuation to sell a business.
However, in terms of engaging JPAbusiness to sell your business, the answer is ‘yes’: we always recommend clients have their businesses independently and professionally valued before they invest time and money in a sale process.
In this video I explain how our first experience of helping a client sell their business – combined with our many years of subsequent experience – has shaped this philosophy regarding valuation and its role in a successful sale process.
Topics: Business Value, Video, business advice, selling a business, Business valuation, Business advisor, Business selling, JPAbusiness, Parramatta, client case studies, Central West NSW
Whether or not you choose to engage the services of a business advisor is really up to you and your preferred mode of operating your business.
Obviously I believe there is value in seeking independent business advice; I think we’re all better decision makers if we’re able to test our propositions with someone who isn’t directly related to the issue at hand, but has relevant expertise.
In the blog I’m using examples from our own clients to show how independent advice is adding value in their businesses.
Topics: staff management, business advice, Business advisor, risk management, strategic planning, business basics, Parramatta, Orange NSW, client case studies
