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You may have heard that old saying – a thing is only worth what someone is willing to pay for it. This is true for businesses as well; your company is only worth what you are able to sell it for, which is why selling your business is such an important process to get right.

There are many important things to remember when preparing a business for sale; however the most important part of the process is undoubtedly the valuation. A valuation will give you a starting point for negotiations, it can help you to understand how best to maximise your business’s worth and get the best price for your business when the time comes to sell.

Finding the Right Business Selling Broker

There are no completely right or wrong ways to conduct a valuation when preparing a business for sale; however there are some key points which it’s essential to remember. The first step should be to find a competent business buying and selling specialist broker, who will be able to assist you in drawing up a plan of sale for your business.

For example, if you choose to sell your business with Axis Partnership you will be provided with a rigorous and objective analysis of your company which goes further than just your audited accounts.

Conduct a Thorough Valuation of Your Business

Once you have found a reliable broker, together you will be able to conduct a thorough evaluation which will take into account the trust that the market has in your business and its ability to generate wealth. This is called goodwill, and is measured alongside your company’s net profits to come to a comprehensive understanding of the true value of your business.

Your broker will also take into account the past performance of your business and future market trends. Without taking into account performance and goodwill alongside your business’s net profits, you will not be able to determine the real value of your business and how likely it is that your business will sell for – or near to – the asking price.

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