When selling a business, it's important to put yourself in the position of a buyer.
Ask yourself: 'If I was considering buying this business, what would I want – and need – to know in order to make an informed decision about the opportunity?'
As advisors, we understand that good information on a business opportunity is critical to a successful sale.
Just because you know, don't assume everyone else does
Often as a business owner we take things about our business for granted – things like...
- our customer base
- our supplier network
- our product design
- the way our business is structured
- the make-up of our team
- financial performance
- risks associated with the business
...but knowing all these things is critical to a purchaser accepting the value of a business.
We have created a simple checklist to help you document the most important pieces of information when preparing to sell your business.
The JPAbusiness team provides a range of services for business sellers, including:
- market appraisals and valuations;
- business sale preparation and marketing;
- managing expression of interest process;
- providing negotiation support and ongoing assistance up to sale completion.
For information about any of our business transaction services, contact the team at JPAbusiness on 02 6360 0360 (Orange) or 02 9893 1803 (Parramatta) for a confidential, initial discussion.
James Price has over 30 years' experience in providing strategic, commercial and financial advice to Australian and international business clients. James' blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers.