Forget your wedding day, the sale of your business could be one of the biggest moments in your life, so don’t leave anything to chance.
The phrase - 'how long is a piece of string?' comes to mind for this one..
But it’s a valid question that business owners will want to know before they embark on the path of selling or buying a business. In terms of the actual deal itself, it can take anywhere between 6 and 9 months. The length of time it takes varies depending on several factors. The size and complexity of the business, market conditions, the level of interest from potential buyers, and the readiness of both the seller. With the right preparation, an eye for the details and well-structured plan business plan, business owners can increase the chance of a timely sale. Ultimately though, the time it take is unique to each individual case.
There are plenty of websites out there that reduce valuing a business down to a few easy sums.
But the truth is, it’s not that simple. There’s much more involved to give you the all-important number. The main element that sets you on the right path is using someone who understands your business, inside and out. A more useful question is what affects the value of the business? Turnover, profit, debt levels, customer base and demand all play an important role in the value of a business. But there are also plenty of external factors that are less concrete such as market conditions and the state of the industry you’re in. In essence, valuing a business takes lots of consideration and there are tonnes of variables that influence it. A lot of businesses will need a valuation at some point – whether it’s to seek investment, to prepare for sale or to even work out how a business will be split if one of the owners decides to part ways. With our legal and corporate finance team, we’re able to assess your business, take a look behind the curtain and dig into the numbers so we can give you a realistic value for your business.
Blowing our own trumpet
We have just joined accounts and legal and could not ask for more. The support so far has been amazing. Being beginners in business we feel really looked after and excited about our future collaboration with...