We have concluded numerous successful transactions. Our ethos is to ensure that all the key decision-makers have a complete understanding of what they are embarking upon and are supported through the inevitable twists and turns that are the norm in most deals.
The Higgins Fairbairn & Co approach is based on an essential principle: we try to avoid surprises as the process of sale unfolds. This means laying the right foundations. We therefore devote a great deal of time on preparing the business for market.
As a business owner, deciding when to sell your business is perhaps the most challenging decision that you have to contemplate. Some people are serial sellers of businesses that they will have built up with a view to realizing their investment as soon as practicable. But most are not. In our experience, the majority of business owners will only be involved in one such sale in their lives.
There are no rules but there are some important considerations:
- Will you be remaining with the business after it is sold (ignoring a reasonable handover period)? If so, you should still have enough to give the business and be appealing to a buyer – so don’t leave it too late!
- Are there forthcoming issues that will affect the business, such as a rent review or key staff retiring?
- Is there any pending litigation?
- Are there unresolved investigations from external bodies, like tax, VAT, or a regulatory authority?
- Are there overdue business revamps, for example, non-performing staff, obsolete stock, doubtful debts?
To help aspiring vendors, we have compiled an easy-to-follow checklist of the main stages of the selling process. Please click here to find it.
Deciding whether to sell your business is one of the most difficult decisions to take. Try using our simple Decision Tree to help your thought process.
A key factor in marketing the business is making sure every element is in order. Work through our ‘Grooming’ pro forma to do all the right things. |
