Sometimes, success means knowing when to bow out. Timing is everything.
Granted, this can be difficult to accept – your business represents your goals and years of hard work. It may even be tied up with a great deal of financial collateral. It can be challenging to separate your feelings from the facts, but when it comes to business, clinging on for too long is only going to worsen a bad situation.
At Parker Barras, we know that selling your business does not make you a failure. In fact, selling your business at the right time shows wisdom and know-how. Timing a sale correctly frees you up for new projects, can help you get ahead of drastic changes to the industry, or can even help you pre-empt a decline in profits.
How do you know when the time is right?
Regardless of the reason, Parker Barras can help.
Success if where preparation and opportunity meet. By failing to prepare, you are preparing to fail.
After years of hard work, being able to sell your business seems like a daunting prospect. However, with some hard work, and careful planning your efforts will pay off, and you will find yourself settling down to a quieter life.
It is never to early to plan selling your business.
When you set up your business, you probably spent a long time working on the perfect business plan. Now that you are thinking of selling, you should spend as much time as possible working out an exit strategy and making sure you have everything in check. Selling the business will take time, and you will need to be fully prepared to make the sale as quickly and as smoothly as possible. The more time you give yourself, the more time you can prepare and finding the right business broker is critical to successfully closing the deal as soon as possible, that’s where Parker Barras can help you.
Top tips for selling your business:
If you are not happy with your valuation, there are several approaches you can take to raise it. The most attractive businesses have reliable and consistent financial performance. If yours is not as consistent as you would like, take a look at how to improve it. This plan may include introducing more short-term strategies which can be implemented purely to raise your company’s value.
You can also prepare for the long-term. Write up proposals for company growth over the next few years. While a buyer may have their own ideas about what they wish to do with the company, they will appreciate knowing your vision and may include some of your ideas in their plans for the business.
At Parker Barras, our experts can offer you a free business valuation report. If you want to find out how much value is stored away in your business, our service will give you all the information you need to decide whether to sell your business.
We use our market knowledge and experience, to provide you with an accurate valuation. This is important because if you undervalue your business you could receive a lot less than you would have if you got a proper valuation.
With the information from our free business valuation, you can determine whether you should sell your business in either the short or long term depending on the financial health of your business.
We will organise one of our fully qualified valuers to visit your premises at a time that is best for you. Once our experienced valuers have had a full look around your business, they will look over your trading figures in order to provide a precise, up-to-date estimation of the market value of your business.
If you’re happy to go ahead, we will then provide you with more details about what comes next in the sales process. As well as answer any questions you have about selling your business with Parker Barras.