You’ve taken the life changing decision that it’s time to go... The best exit strategies are considered, planned and expertly executed; preparation is key.
There are many organisations hungry to snap up a business where the owner wishes to retire or change direction. These buyers are smart, savvy operators; they want your business - at a price.
Once you have found a buyer and agreed Heads of Terms, the buyer will carry out a Due Diligence Audit with the aim of identifying the level of risk involved in the acquisition. Problems and weaknesses uncovered at audit may result in your buyer lowering his offer price, requesting tougher warranties and indemnities or could even conclude in them walking away from the deal.
Haggling over price or losing your buyer at this late stage is not only disappointing, but can be extremely stressful.
The key is to be prepared and engage in Exit Planning before you go to market. This will provide you with the golden opportunity of putting right any wrongs which may have crept into your portfolio over the years and will ensure that you are in a position of strength.
Investing in a thorough, expertly executed Exit Planning Process is crucial if you are to ensure that the sales process goes smoothly and you receive the best possible price for your lifetime of work.