Should I Selling My business

This is a question we are asked often and there is no simple yes or no answer. One thing that is for sure is that selling your business should never be a spur of the moment decision. When you do anything on impulse you are almost guaranteed to make mistakes. This is why the services of a business selling agent are essential to help you to make an informed decision.

What are Your Reasons for Selling?

Kingswood are just that, ‘advisers’. We are not brokers. This means that we provide full support, delivered by a partner, throughout the whole process. This is why we can offer support for a management Buy-Out (MBO) if this is your preferred exit method. Either way we are with you every step of the way.

    The first thing to consider is why you wish to exit the business. Your reasons may be personal or purely professional such as:

  • You wish to retire or emigrate; or realise and enjoy the wealth you have created.
  • There may be irreconcilable differences at board level and you simply do not wish to put yourself through the hassle of resolving the problems.
  • There is no obvious successor to take the helm after you leave.
  • Your company may be part of a group which intends to dispose of any non-essential businesses.
  • You may have personal reasons for why you no longer want to stay in charge.
  • You may feel unable or unwilling to embrace the rapid changes in technology and business trends.
  • Is My Business Ready for Sale?

    When considering this point you need to be clear headed and objective about the saleability of your company. For instance, have you prepared for a sale by making sure all your records and tax returns are in order? This is but one small aspect of ensuring your business is at maximum value to achieve a successful outcome. It is possible that you are too close to the business to be able to properly and fairly assess the saleability of it. The best way forward is to commission a strategic review from an independent and well respected firm of advisors to help you to make a decision and prepare for sale. This review should include:

    • Your personal objectives and timescales.
    • Assessment of the value of the business.
    • Potential for grooming the business to maximise its value.
    • Identifying potential stumbling blocks and solutions.
    • Reviewing alternatives.
    • Developing a plan of action.

    All this can help you to better reach a decision on whether to sell or restructure. Remember, you can be sure that any buyer will have in place a good team who will thoroughly go over every aspect of your business so you should do the same.

    Is It The Right Time to Sell?

    Many people make the mistake of trying to sell a business when it is in decline and this is exactly what you shouldn’t do. The best time to sell is when your business is on a high, you feel confident and you don’t actually need to sell. However, if others are involved in the decision or the well-being of your family is affected, only you know whether it’s time to exit or not. Seeking professional advice from someone who knows the industry can be a cost-effective way to determine your true feelings and find the way forward. So why not contact Kingswood where professional, friendly advice is just a phone call away.

When we chose Kingswood to sell our business we believed that their simple, easy to understand proposition to sell our business “a better way” was just what we wanted.This is exactly how it worked out with professional support from beginning to end. And the fees were exactly as quoted!

I would use Paul Holohan and his team at Kingswood again without question.

Bob Hanks