A mass exit of business owners is expected within the next 10 years*…
Is your business set up to be near the front of the queue to sell?
A recent Xero survey of Kiwi business owners found that more than 90,000 businesses are owned by people aged 55 and over. Most of them intend to exit their business within the next 10 to 15 years. The survey found that 8% of all business owners are hoping to retire in the next year alone.*
Hardly any of these business owners have a succession plan, which means:
· They are unlikely to get the best sale price for their business
· Their standard of living in retirement may suffer as a result
· The buyer may have a harder time making the business succeed
Retirements could now be at stake!
The retirements of outgoing business owners could hinge on:
· Whether or not they can actually find a buyer
· What price they can get for the business
It is now clear that a lack of succession planning can lower the price owners get for their business and diminish the standard of retirement that follows.
According to Xero, ‘Owners don’t realise how long it takes to get a business ready for sale. As with selling a house, there is a lot to prepare before the sale process even begins.’
Also, they don’t know what they should do to boost its value and they don’t focus on the business areas that can get their business further up the queue to sell.
DOES THIS SOUND LIKE YOUR SITUATION? WOULD YOUR RETIREMENT SUFFER IF YOU DO NOT GET YOUR SELLING PRICE FOR YOUR BUSINESS?
If this sounds like you, help is at hand.
My name is Dean Ruscoe and as Co-Founder of The Business Exit Company Ltd, I believed their was an opportunity to set up a programme to assist business owners to get their businesses up to scratch so as to maximise their sale opportunity when it comes time to sell.
Like most business owners, when it’s time to sell your nest egg, you want to make sure that you not only get the best price, but also speed up the time it takes to sell. You do not want to be way down the queue to sell and waiting for months just to get a prospect to take a look at your business.
Using our proven Business Exit Company process we put the ten most important aspects of your business under the microscope and look to improve each offering so as to make your business more valuable and more attractive to prospective purchasers. These are, Organisational Structure, Administration, Operations, Sales and Marketing, H.R., Health and Safety, Finance, Technology and Governance.
In addition, as part of our programme we will document your primary business systems and procedures and make them available on-line for use by a new purchaser so they can easily step in and start running the business. This alone can significantly improve the saleability of your business.
If you are looking to sell and this sounds like your situation visit us at www.businessexit.co.nz or take this opportunity to book a free, no-obligation 15-minute phone call with us right here https://meetme.so/DeanRuscoe
Just find a time-slot that suits you and lets have a chat to establish how we can help with getting your business ‘sale-ready’. We will also tell you the three important things you need to focus on right now to start to get your business sale-ready.
Don’t wait any longer, this is a free no-obligation 15 minute phone call with someone from our Auckland-based team where we can see if the fit between us is right and help you to get started on the road to a successful business sale.
Schedule your own appointment right here. https://meetme.so/DeanRuscoe
Just pick a time that suits you and we will call you at your chosen time…its that easy. Talk soon.
* Xero business owner survey – Success through succession planning