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EXIT PLANNING: Planning to Sell Your Business

Whether you are planning on selling your business now, or in 2 years time, it is never too early to start planning your exit strategy. In fact, most experts agree you should start planning your exit strategy when you commence business.

We see many business owners come to us who need to sell urgently. However, their business is simply NOT buyer ready. Key financial information, management systems, lease details, employment contracts etc. are either not up to date, missing or sometimes simply do not exist.

Our experts can work with potential sellers to ensure all relevant documentation and systems are in place in order to effectively enable buyer due diligence and reflect your business in the best possible light to potential purchasers.

Another common mistake we see in the small business sector is where there are no contingency plans in place to keep the business running smoothly, should the owner step out of the business or be unable to be hands on in the business for any length of time. Having management systems in place to allow the business to continue running smoothly in the absence of the owner is crucial to both the longevity of the enterprise and to the future sale of the business.

Remember, if the business cannot run successfully without you in it, you DO NOT have a business to sell. Sometimes the implementation of these systems is simple to employ, and in other cases it is more difficult. Having one of our exit strategy experts work with you throughout the implementation of this process will greatly enhance your chances of developing a successful management system.

Please contact us and we can give you an indication of where your business sits, and what work needs to be undertaken to get your business in peak condition for sale.

 

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I have made use of the services of James Taylor to sell two businesses in the last few years. Throughout the process I have found James to be professional, knowledgeable and thorough. James was able to find high quality prospective purchasers who were financially capable and ready to purchase my businesses. James has a vast network of contacts and maintains regular communications and updates throughout the sale process. James was able to use his wealth of experience and professional network to guide me through to a successful sale for both businesses. I have already recommended James to several of my business colleagues and would not hesitate to do so again in the future.

The business was in a growth stage, so that meant there were hundreds of enquiries. James’ seasoned experience was demonstrated in the way he methodically worked through the enquirers weeding out the time wasters, and qualifying the real potential candidates. The process of selling this business was drawn out on the back of the recent tougher constraints on lending from the banks. As such, I believe James spent a lot more time on the sale than his fee had allowed for. Yet he did this with unwavering enthusiasm and continued head strong into meeting after meeting with potential clients, all in after business-hours... James stood by and saw it to the end. Many times when buyers become a little bewildered  or disillusioned, James’ keen advice to the other side kept them on track. I could not recommend his service any more, it really is a cut above the rest. 

I was very impressed with our Business Broker, James Taylor. James was very professional in all his dealings and guided me smoothly right through the entire buying and franchisor approval process. He regularly communicated with me and allowed me to draw on his excellent knowledge of small business and franchising. I would recommend him to others who are considering buying or selling a franchised business.

James helped to sell our business and was a pleasure to do business with. From his initial consultation he provided a professional service to the highest quality. His personal knowledge of the Franchise Systems helped to find and guide our buyer through the whole process. I fully recommend James to anyone looking to buy or sell a business.

Toby has provided tremendous support throughout the whole purchasing process, and exceeded all my expectations as a buyer. He has gone out of his way to facilitate between multiple parties and move things along, and the purchase could not have been completed without him and the team from Transact.

Throughout all stages of our business acquisition Garry was extremely professional and ensured consistent communication between all parties involved.  Not only was he very responsible in all of our dealings, but he also offered broad advice, guidance and the support we were looking for based on his knowledge and experience across a number of industries. Throughout the process Garry was a great sounding board for us and always available at any time.  Without hesitation, we would recommend Garry and the Team at Transact Business Sales to any future client and are more than happy for any potential clients to get in contact with us directly for any additional feedback on Garry.