Buying and selling businesses

Need help buying and selling businesses?

I can definitely help you get the outcome you want. 

Whether you are buying or selling businesses, there is a lot involved, including significant financial considerations. Over my business life, I have been involved in buying and selling businesses extensively. Personally, I have sold six businesses and purchased four. Additionally, I have assisted clients, family, and friends in buying and selling businesses across various industries.

buying and selling business
buying and selling business - negotiation

Business Sales

I feel the most important aspect of selling a business is stepping out from your business and looking at it from the outside, from a potential buyer’s point of view. 

I feel the most important aspect of selling a business is stepping out from your business and looking at it from the outside, from a potential buyer’s point of view.

What are they buying? Where is the value in your business? What are the most attractive parts of the business? How do we highlight those?

From there we pull all the pieces of the puzzle together to create a masterpiece that is your business. Preparation is the key to selling a business and making good money.  

I will help you prepare your business for sale by working through each of the points below.

  • Putting together a checklist of things to tidy up or improve..
  • Outline all the valuable parts of the business
  • Creating a sales pitch, what you will say to potential buyers.
  • Adding value to what you are selling by identifying a range of extras for potential buyers
  • Developing long term strategies a new owner can use to maximise profits and continue to grow the business.

Business Purchase

Buying a business is a risk financially and personally to anyone, it doesn’t matter what size the business is. So my key piece of advice is to be organised. Keep track of every piece of information about the business. 

The more we uncover the lower the risk. I know so many people who have bought businesses that never asked enough questions. You need to know every piece and part of the business puzzle. You need to feel confident that the money you are investing is buying something that is beneficial and viable, not a brick that drags you down. 

So we want to gather as much information as we possibly can. There is no stone unturned, no surprises. I will help with that and each of the following points to ensure your new business is a success.

buying and selling business - thoughts
buying and selling business - business plan

Planning

You need a clear idea of what this business is, what it can do and what you can do with it.

  • Outline your goals for the business – Why are you buying it? What are you prepared to pay, how are you financing it? What do you want from it and what do you expect it to produce?  
  • Budgeting and Cashflow – We come up with a budget to buy the business, starting capital and then work through a cash flow. Following that I look at the first 12 months and where sales will come from, what the costs will be, how you pay back finance if applicable and how you make money or at least stay in business depending on your goals.

 

14 Critical Reasons Why You Need a Business Plan

Strategic Business Growth Plan

This is the how. How are you going to achieve what you want from this business?

  • How big is your target market? We need to understand the markets, the external influences and impacts.
  • What price are you selling products / services at? How is that different from the current owner and why?
  • Sales and Marketing activities – what actions are you going to take to grow the business and at what costs.
  • Outline what information you need from the current owners in order to make informed decisions. This will form part of your due diligence. 

There are so many aspects to consider in the business growth strategy but by the end of it you will be very clear about what is achievable and what is not. 

An Integration Plan

If you are buying as second, third or fourth business I will assist you in connecting all the dots to integrate it to your current businesses, creating efficiencies, smoothing out bumps, developing a communications plan for your team and ensuring every aspect of the integration of the new business works.

Buying and selling businesses are a big deal. I can help you, by looking at it from the outsiders perspective providing guidance, advice and following through on the plans we create to ensure everything runs smoothly and is as easy as possible for you.

If you haven’t had a chance yet I suggest you read my blogs on buying a business.

buying and selling business - planning

Call me today for assistance with buying or selling businesses

Contact Me

Need my help with your business? Get in touch today.