How do I prepare my business for sale?

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No matter how small or big your business is, if you intend putting it on the market for sale there are a few rules that will make the process easier and ensure you obtain the maximum sale price.

  1. Have a plan and a strategy in place
  2. Know your financials and make sure there are strong processes in place
  3. Have a clearly articulated vision and business plan in place
  4. Understand and mitigate any risks
  5. Ensure your corporate structure is optimised
  6. Make sure personal assets are separated from business assets are separate
  7. Ensure your key staff and leadership team are in place to continue operating the business
  8. Seek professional advice from your lawyer and accountant

An important tool in the sale process is a well prepared information memorandum. The contents of each such memorandum will vary depending on the nature of the business. Some of the matters that will be addressed in a well drafted memorandum include the following in relation to the business:

  • History
  • Ownership
  • Location
  • Operations
  • Industry and Market
  • Products and Services
  • Customer Base
  • Assets – Plant and Equipment
  • Stock
  • Employee/Staff Data
  • Intellectual Property
  • Licences/Permits
  • Service contracts/Leased equipment
  • Encumbrances
  • Financial performance
  • Asking price and terms.

At FC Lawyers we have prepared hundreds of businesses for sale in a range of industries.

If you would like to discuss the possibility of selling your business, an information memorandum, and what is needed please don’t hesitate to contact our Business and Corporate team.

The information provided in this article is for general information and educative purposes in summary form on legal topics which is current at the time it is published. The content does not constitute legal advice or recommendations and should not be relied upon as such. Whilst every care has been taken in the preparation of this article, FC Lawyers cannot accept responsibility for any errors, including those caused by negligence, in the material. We make no representations, statements or warranties about the accuracy or completeness of the information and you should not rely on it. You are advised to make your own independent inquiries regarding the accuracy of any information provided on this website. FC Lawyers does not guarantee, and accepts no legal responsibility whatsoever arising from or in connection to the accuracy, reliability, currency, correctness or completeness of any material contained in this article. Links to third party websites or articles does not constitute any endorsement or approval of those sites or the owners of those sites. Nothing in this article should be construed as granting any licence or right for you to use that content. You should consult the third party’s terms and conditions of use in relation to any third-party content. FC Lawyers disclaims all responsibility and all liability (including liability for negligence) for all expenses, losses, damages and costs you might incur as a result of the information being inaccurate or incomplete in any way. Appropriate legal advice should always be obtained in actual situations.


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