How to ensure you get the most for your business when you retire?

You might be thinking of retiring in the next 10 years. You are hoping that the sale of your business will help fund your retirement but the reality is your business is not ready for sale. You want to get the most you can from your business; you’ve invested many hours into it. To do so it’s important that you start to think about whether you have a mission and vision and that it is reflected in everything you do so that a potential buyer can see this.

  • Have systems in place so your business runs smoothly without relying on key personnel who may not stay with the business long term. A buyer will not want to engage with a firm that relies on its owner for its success.
  • Measure everything that matters to the business and have team KPI’s in place. You need to provide absolute clarity on sales targets, financial control, and managing your team.
  • Ensure financials are in place and up to date and that you have a healthy cash flow and an effective debt collection system.
  • HR – Do your team have up to date contacts in place, are there regular appraisals to develop your team? When your team are happy your customers will be and a buyer will see that.
  • Technology – Have you invested in the latest systems? Look at improvements that can be made with phone systems, computing, copying and scanning technology. If your team can work remotely on the cloud they will be more responsive to your customers.
  • You want to make your business as attractive as possible so it runs independently from you when you are away from the business in order to attract the right buyer, at the right price.

For further information please see or call Hallidays on 0161 476 8276.


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