For nearly everyone, 2020 has already proven deeply unpredictable. While many business owners may have thought that stability had come at last after years of Brexit-wrangling, those planning a sale barely had time to start the process before Coronavirus brought even greater uncertainty.
If you were planning to sell, but now find yourself in a battle for survival, what should you do? Here, we’ll take you through how you can navigate the current crisis and the subsequent recession and emerge from coronavirus stronger, with a better valuation and in an even stronger position to sell.
Gaining an advantageCurrently, large numbers of business owners are in a very difficult situation. As we previously outlined, many operators across the services, leisure and hospitality sectors have been forced into an extended period of closure and have either had to furlough staff through the Coronavirus Job Retention Scheme or let them go. But it doesn’t end there, as businesses across all industries have been impacted to some extent.
Keys to survivalSo, with survival the crucial thing at the moment, how can you achieve this in the current climate? For a more in-depth exploration of this topic, read our insight on restructuring your business, but here are a few quick pointers that you get to work on immediately.
Focusing on your saleWith emerging from the COVID-19 crisis as a viable business ready to sell to the highest bidder as your ultimate goal, here are some of the areas to focus on now, to ensure you’re in the best position possible.
A rare opportunity to acquire this four-in-one highly profitable business which consists of a butchers, a delicatessen, a breakfast/sandwich and hot food bar, a coffee lounge and off-licence selling local ciders, beers and wines.
This butchery offers an excellent opportunity for a first auspicious purchase or to add to an existing business. The business has been owned and operated by the current vendor's family since 1959.
Provides dedicated logistic solutions for deliveries across Manchester and surrounding areas. A fantastic opportunity for buyers looking to expand upon an already profitable business.
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