11 Point Business Sale Health Check

The Bigger Picture In Selling Your Business

Before starting out on the epic adventure of selling your business, every owner needs to assess their current situation as objectively as possible, so that they can identify as early as possible any issues and be prepared for them.

Of course, there are hundreds of questions you need to ask and answer, and the intention of this report is not to cover the granular detail, but merely to give you a swift ‘sanity check’ on your situation.

So, we have distilled the eleven key questions that you need to answer when it comes to assessing your current circumstances.

It’s deliberately concise, should be finished in less than five minutes, and will help you immediately identify where you need to focus your attention on.

Take the Business Sale Health Check

Make sure your business is on the right track before you consider selling it. Simply use our 11 point health check to help you identify any problems you may have, right now:

  1. Are you (the business owner) receiving a good income from your business?
  2. Do you work more than 40 hours / 5 days a week?
  3. Could you take a break from the business for two weeks and it would continue to function without your involvement?
  4. Do you retain permanent employees for more than 3 years on average?
  5. Is staff morale high? If yes, are you guessing?
  6. Do customers, clients & partners remain loyal to you?
  7. Has your business increased in turnover since last year?
  8. Will your business be profitable this year?
  9. Is your month on month income relatively stable, and does it cover your expenses?
  10. Do you have a business plan setting out the next few years?
  11. Do you have the time, energy and desire to spend the next year selling your business? (It’ll take more out of you than you think!)

If any answers to your questions were ‘no’ then you need to investigate the reasons why this may be the case, and how serious the situation is.

In almost all cases, even if you decide the issue is not ‘critical’, you will still benefit from trying to make your future answer positive.

If you are not sure, then take action:

  • Talk to your accountant, particularly on the financials
  • Consider your challenges during the next week and reflect on your answers
  • Call us confidentially on 0333 050 8225 if you would like independent advice from our knowledgeable team

A business with in-depth knowledge of the business sales process. Whether reassured or warned, it is best to be informed!

Contact the Firmgains Team

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