Properly preparing your business for the initial ‘business assessment phase’ will help provide the most detailed and accurate results – which in turn may help guide you on making a more informed decision when it comes to selling your business. The initial assessment and subsequent appraisal, heavily relies on a review of the following areas of your business:
- General (History | Overview | Core Activity | Plant & Equipment)
- Financial (All Financial information requirements)
- Personal (Owner involvement | Buyer Training | Reason for Selling | Other Benefits to a New Owner)
- Operational (Systems | Procedures | Owner Skills | Staff/Clients | Licensing | Leases)
- Growth (Business Trajectory | Industry Developments | Growth Opportunity | Improvement Opportunity)
- Marketing (Competitors | Substitutes | Target Market | Repeat Rates | Competitive Advantage | USP).
- NOW more than ever, we recommend potential sellers of businesses start planning, by keeping accurate details of what effects COVID19 has had on their businesses post February 2020. This includes compiling a detailed list of what may have changed with regards to turnover, profits, rent paid, staff rostering and staff levels, job keeper eligibility, and any extraordinary costs incurred. Along with changes to their product and service offerings, customer base, suppliers, and competition.
For more details or to book a confidential business assessment, subsequent appraisal, and action plan for selling your business, call me or one of my team today.