Thinking about selling in a year? Five years? Or maybe you don’t have a business exit strategy at all... Here’s the not-so-secret secret: the earlier you start preparing for a business sale event, the easier (and likely more profitable) it’ll be when the time comes.
Why Early Preparation Pays
Rushed business exits are always stressful, often messy and worst of all, usually result in money being left on the table. Here’s why we recommend a runaway to get everything in shape as part of a clear exit plan.
- This gives you time to fix tax, legal, or structural snags.
- You can optimise profitability without scrambling or cutting corners.
- Buyers will trust a business with a strong historical “story” and robust team.
Business Sale Steps to Start Taking Now
1. Get Your Advisors Involved
Don’t wait until you’re in negotiations—lawyers, accountants and sale advisors spot red flags well in advance and will help you clean up, saving time and money later on. Too often we see structural issues resulting in adverse commercial and tax outcomes – that should have been flagged and resolved at least 12 months prior.
2. Sort Out Your Structure
Are your shares or business assets organised, and can you clearly demonstrate what’s for sale?
3. Documentation Is Everything
Key contracts with suppliers, customers and staff must be solid, assignable, and current. No handshake agreements or dodgy old files. This will all just lead to either more work during due diligence or could risk the deal falling over.
4. Empower Your Team
A buyer wants confidence the business can run without you. Invest in systems, processes, people and delegation across your team —now and not after you start fielding offers.
5. Model Your “Net-After-Tax” Outcome
Sometimes, a slightly lower offer leaves you with more money after tax. Don’t get caught by last-minute surprises—plan for your ideal exit now and ensure you understand how much you will be walking away with after paying the taxman.
Don’t Wait for a Knock on the Door
A well-prepped business isn’t just easier to sell, it often commands a higher price. Plan as if you could be ready to sell tomorrow, and you’ll benefit from it in the long run, both financially and mentally.
If you’re thinking about selling your business (next week or even five years from now), our Transaction Advisory Services team is here to help. No pressure, no jargon. Fill in the form below and we’ll get in touch for a confidential, straight-shooting chat about your options.
