Selling your business after an economically turbulent period: what should you look out for?
Uncertainty can also be an opportunity
You have spent the majority of your time in the past few years building your business. This has, after all your hard work, grown into a very successful business. Because of this success, the word "sale" has sometimes come up in conversations you have with your loved ones. This has made you think about the possible sale of your business. When selling your business, there are a few things to consider at this time:
The effects of the Coronavirus
Perhaps the current situation makes you think that the idea of selling your business is better left as an idea for the time being. The market has changed due to the current crisis and you are afraid that the value of your business will be disappointing as a result. The fact that you do not think this is the right time to sell your business does not mean that you should leave it at an idea. For an entrepreneur, it is always important to look beyond. These economically uncertain times won't last forever. And there is still a whole pre-sale process ahead of you.
Is your business ready to sell?
If you have a quieter life now, you also have the time to think about this and make possible preparations. At Florijnz we inventory what you can still do in terms of sales preparation by means of theZilvermeter. The Zilvermeter shows the extent to which your company is ready to sell and where the opportunities lie to increase the value of your business.
Preparation
When you are completely ready to enter the sales process, the next steps can be taken. Next steps include an indicative valuation, a financial analysis, a preliminary book survey, the preparation of aninformation memorandum and teaser, and perhaps most importantly, the preparation of a list of potential buyers. Why is this so important? Obviously, you want whoever takes over your business to fit in with the culture that exists within your company.
Florijnz as an independent advisor
As you can see, there are many steps that can be taken right now to best prepare your company for a sales process. At Florijnz we are specialized in the above mentioned activities. We can relieve you during the entire process with the ultimate goal of completing a successful but sustainable transaction.
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