When you make the decision to sell your business, undertaking a fresh growth strategy might not be the first thing that springs to mind. However, there are a number of reasons why you should aim to grow your company prior to a sale.
Of course, the most obvious reason is that larger companies with higher turnover and earnings command higher multiples than smaller businesses, meaning a more significant payday for you once a deal is completed. But that’s not the only reason.
As a business grows from, say, six-figure turnover to seven or eight-figures, it becomes easier to ultimately transfer control to a new owner. That might sound illogical, but there is solid evidence that growing a business can make the process of disposing of it far simpler, quicker and more cost-effective.
When a business is bigger, there are likely to be more solid, well-established processes in place, which makes it easier to transfer during a sale, compared to the more haphazard systems that are often in place at smaller, less well-developed companies.
As a result, in order to unlock a higher sale multiple when it comes time to sell your business and to help ensure that it has efficient, set processes in place and is ready for a rapid, successful transition of ownership, here are some steps that you can take to scale your firm to a seven or eight-figure business.
An established and newly discounted catering and retail butchers in Southend-On-Sea is now available, offering a unique opportunity for those looking to enter or expand in the food industry.
FREEHOLD
This Bristol-based law practice presents a compelling opportunity with a strong track record in criminal, children, and family law matters, showcasing a diverse portfolio of publicly funded and privately paid work.
This is a terrific opportunity to take over an established and high-revenue yielding law practice in central London, with a diverse portfolio emphasising matrimonial and residential conveyancing.
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.