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.
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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.

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

How do I involve staff in an ownership position in my company?

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

There are a number of mechanisms to provide senior and key staff with a level of interest in your business over and above an employee status.

It’s often referred to as giving employees ‘skin in the game’ and it’s about aligning your objectives as a business owner and operator with your key people, so together you can achieve great things within the business.

There are a number of ways to align objectives between the parties, through both ownership and/or incentive arrangements without formal ownership:

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Topics: staff management, business advice, staff share plans, business basics, 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.

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

Business valuation or market appraisal – what's the difference? [video]

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

Business market appraisals and valuations are both robust assessments of a business’ worth and are appropriate for use in different circumstances.

In this video I explain the difference between a business market appraisal and a business valuation, and when each should be used.

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Topics: Business Value, Advice, Valuations, Video, Business valuation, market appraisal, valuing a business, Parramatta, Orange NSW

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.

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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.

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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.

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

 
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. 
 
 

 

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