{"id":233,"date":"2021-03-31T12:33:49","date_gmt":"2021-03-31T11:33:49","guid":{"rendered":"https:\/\/www.weybrookbusinessbrokers.com\/news\/?p=233"},"modified":"2021-04-08T11:48:33","modified_gmt":"2021-04-08T10:48:33","slug":"this-easter-why-not-think-about-selling-your-business","status":"publish","type":"post","link":"https:\/\/www.weybrookbusinessbrokers.com\/news\/this-easter-why-not-think-about-selling-your-business\/","title":{"rendered":"This Spring – Why not think about selling your business?"},"content":{"rendered":"\n
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As we start to unlock from lockdown, is it time for you to start thinking about selling your business?
We have had really tough year with the Covid Pandemic, one thing it has reminded us is that life is for living and that we should savour every moment with friends and family. Entrepreneurs and business owners often are often working up to 7 days a week and they may well be considering lifestyle adjustments which could include selling their businesses. After the year we have had it may or may not be a good time to sell; at Weybrook we can work <\/a>with you to put your business in the best position to sell; so why not give us a call t<\/a>o discuss whether now is the time to sell?

Listed below is some of the information buyers need from sellers:

Information Required When Selling Your Business<\/strong>
Once you have decided to sell your business you will need to put together an information bank. The more preparation you do upfront, the smoother the selling process will be and you will be less likely to face hiccups and delays during the due diligence process.<\/p>\n\n\n\n


Listed below is the key information that you should put together:
Financial<\/strong>
\u2022 Annual accounts (At least 5 years, this is essential information to have up front)
\u2022 Up to date profit and loss account, balance sheet and cash flow forecasts
o Details of the cost base and administrative costs
\u2022 Details of any loans and outstanding debt \u2022 Forecast for next year and if available a 5-year plan
\u2022 Details of assets owned (property, vehicles, machinery, stock, fixtures and fittings)
\u2022 Stock at value\u2022
. Details of accounting infrastructure
Sales<\/strong>
\u2022 Sales figures; split by: Revenue and volume o By product \/ service type
o Key customers
o Forecasts for the next year and the remainder of this year
o Sales
o Contract details
o Length of tenure
\u2022 Details of key products and services provided
Suppliers<\/strong>
\u2022 Key suppliers
o Turnover
o Contract terms
\u2022 IT and infrastructure
People<\/strong>
\u2022 Details of staff
o Numbers of staff including directors
o Management structure
o Job roles and descriptions
o Organisation chart
o Names of staff (brief biography and tenure details)
o Salary and benefits details
o Contracts
Legal<\/strong>
\u2022 Details of company legal status
\u2022 Shareholders details ( all shareholders need to be in agreement to sell)
\u2022 Details of contracts and leases
\u2022 Details of outstanding judgements or legal issues
\u2022 Details of intellectual property rights and copyright
\u2022 Registered brands and domain names
Premises<\/strong>
\u2022 Property details
\u2022 Owned or rented. \u2013 leases and deeds\u2022 Tenure
\u2022 Co-tenants \/ agreements
Sales and Marketing<\/strong>
\u2022 Website, social media & domain details ( webmaster, domain name, hosting details)
\u2022 Sales and Marketing plan details & costs
\u2022 Images and packaging details ( provide good images to help sell your company)
\u2022 Data \u2013 what data do you hold and what is your GDPR plan?<\/p>\n\n\n\n


This list is not exhaustive, but if you can provide the majority of this information you will be very well placed to sell your company. If you don\u2019t have it up front, you will more than likely be asked for all or most of it by a prospective purchaser. Failing to provide it, could slow down, or even halt your sale!<\/p>\n\n\n\n


Why not give Rupert Trevelyan a call to see if now is the right time to sell your business. Call 07826 05090 or visit https:\/\/www.weybrookbusinessbrokers.com\/sell-my-business\/<\/a>
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As we start to unlock from lockdown, is it time for you to start thinking about selling your business?We have had really tough year with the Covid Pandemic, one thing it has reminded us is that life is for living and that we should savour every moment with friends and family. 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