What factors will increase your final price a business owner may pay for your business?
There are certain factors that will make your business more valuable .
You should take the time to analyse your business and review what changes you should make that can help sell it for more value.
Here are 5 factors you should consider to make your business more valuable!
- Decrease the risk . E.g. where the business is dependent upon one major customer or supplier. A potential buyer will pay more when Risk is removed.
- Intellectual knowledge, documented and legally protected for innovative product and design. Put a fence around your business and make it attractive that a potential buyer will know that they can take it and grow it.
- A product that may be highly sought, well marketed and has potential to grow by additions or new a version. Products that have the potential to grow and reap the new owner rewards will be sellable when marketing your business
- Staff that are professional and committed to the vision of your business. Stability and continued operations beyond YOU.
- Sales channels well in place documented and robust to ensure any new owner can exploit these channels
Working on your business on things that a potential buyer wants ensures a better outcome financially for you when starting your exit planing pathway.
Every business is a growth business and the key is for you to work out how to make it grow and add value that can be exploited at Exit.
Commence the Exit plan even if it is a long while off , now and enjoy the journey and the rewards it may bring!