Buying a Business
The prospect of buying a business is an exciting opportunity, but it is also a long-term decision that presents many challenges you need to be prepared for. At Guild Accountants we often see where a failure to approach a buying opportunity from an objective standpoint has led to disappointment.
By working with Guild Accountants we will provide you with a number of steps to help you make a well-grounded buying decision. By following these steps, you lay the foundations for achieving a positive outcome that you can reflect positively for years to come.
Many businesses, or financial interests in businesses, are sold to employees or associates who have been working in the business and are well-informed on the business’ workings. Regardless of this, there are many challenges in moving from being an associate to a business owner, and, in these cases, Guild Accountants are also able to guide you through the process.
Selling a Business
It may be time for new challenges for you personally or perhaps retirement is approaching. Alternatively, your business may not be performing to expectations. At Guild Accountants we work with business owners so that whatever the reasons are for electing to sell the business the time is taken to plan an “exit strategy” in order to maximize the return on investment.
It is important to recognize that the process of selling a business can take a lot longer than anticipated. The process can extend over several years when the business is specialised or the pool of potential buyers limited.
You are probably familiar with the saying “you get what you pay for” – in selling a business it is “you receive the value for what you create”. This means that as a vendor, that to get a good price you must stay engaged on the business and maintain its profit while it is being marketed. This requires patience but will increase your probability of achieving a sound price for the business.
If you would like to further information about preparing your business for sale our buying a business, please call the Guild Accountants team on 1800 101 296 or email enterprise@guildaccountants.com.au.
