So you have toiled away in your business and have been able to generate an income that has allowed you to at least meet your living expenses, pay off your home and perhaps even put some money away for a comfortable retirement.
The cherry on top however would be if your business was actually worth something when you were ready to finish up, where someone was willing…and able to purchase your business, its assets including its good will.
It is sad to see people delude themselves that their business has any real value, believing that the buyers will knock them over in the rush when it finally hits the market. The cold reality in lots of instances is that once the existing owner has moved on, there is little in the way of asset that a person would pay for to be able to pick up the reigns and run with it.
So what would someone do that wanted their business to be worth something? Well I think the answer is – they would give themselves plenty of time to work on their business (not just in it), they would look at their business critically, not from a Sellers perspective, but from a Buyers perspective asking the question - If I was to buy my business what would I be getting, how much would I pay and how could I fund it?
If you want help to consider ways to sure up your exit plan and provide a buyer with the best opportunity to buy your hard earned asset, we are here to help, call us today.