Identifying a clear business strategy will help you realise the full potential of your business while you’re still at the helm, as well as making it more attractive when you’re ready to sell.
Your business plan should include thorough analysis of your business, environment, identify strategic objectives, and provide current and anticipated cash flows based on realistic assumptions. Buyers put a premium on credible growth and profit projections, clear risk profiles and detailed management strategies.
If you’re planning to sell to a related party, such as an existing supplier or your management team, it can be hard for both sides to be objective. A broker will ensure the transaction is handled fairly and at arm’s length.
Buyers will want to know why you’re selling your business, so be prepared to answer questions to reassure them the business is a sound investment.