Having built up your business over many years you have finally made the big step and decided it’s time to hang up your boots. You have a buyer and an offer has been made and accepted and now the due diligence process is under way. You are becoming increasingly frustrated by the questions you are being asked but, through gritted teeth, you have gathered together all the information and provided it to the other side. The hardest part was finding all the contracts with your customers and suppliers, making sure they were signed and current, but you got there in the end and gave yourself and your team a metaphorical pat on the back. One of the questions asked was: Are there any “change of control” provisions in any contract with a customer (or a supplier) such that the contract can be cancelled by the customer (or supplier) if they wish if the ownership in the company changes? And this is the point at which you realise you have a … [Read more...]
Selling Your Business – Seminar 5th June
Whether you plan to sell your business now or in 20 years you will benefit from attending our informative seminar on Exit Planning. You will find out how to assess the value of your business now, and what to do to increase that value. It is an opportunity to learn about the way to prepare your business in order to obtain the maximum value when you wish to sell it. Ideally you should start planning your exit about three years before you wish to complete it. The strategy to increase the appeal to a potential buyer is significantly different from that used for business growth. Everyone present will be able to comment on anything they have heard, and to question the panel and the other delegates. Hear from experts the best ways to maximise the value of your business Make your own contribution to the discussions Hear more about Metro Bank – the first High Street Bank to open in over 100 years Enjoy some light refreshment whilst networking with other like minded local … [Read more...]
8 Questions You’ll Be Asked When Selling Your Business
One of the most intimidating aspects of selling your business can be facing the barrage of questions during the various management presentations you’ll be doing for potential acquirers. Be prepared to be grilled on all facets of your operations. Of course every meeting will be different, but here are some questions you can expect to be asked when you’re in the hot seat: 1. Why do you want to sell your business? It's a slippery question because if your business truly does have a bright future—and you want the buyer to believe that's the case—the obvious question is: ‘Why do you want to sell it, and why do you want to sell it now?’ 2. What is your cost per new customer acquired? The potential acquirer wants to find out if you have a predictable, economical and scalable formula for finding new customers. 3. What is your market penetration rate? The acquirer, with an eye to future growth, is trying to understand how big the potential market is for your product or service … [Read more...]
