Did You Know?
Ten years ago, TD reported that 60% of their business customers had no exit plan beyond simply closing the doors. For the next ten years, there will be more businesses for sale by their retiring owners than ever before.
Most businesses do not get full value for their company because they did not prepare themselves or their company beforehand.
It takes 2 or 3 years of solid financials and a tidy, organized business for a potential buyer to secure financing from an institution.
General Outline of the Workshop:
Learn the key things you need to know to prepare your business for sale.
Andrew will guide you through:
- Valuing the business.
- Using a broker or selling yourself.
- Share sale or asset sale.
- Understanding shareholder loans?
- Knowing your receivables, payables, physical assets, company vehicle, and cash in the bank?
- Setting your goals: do you want a quick dash for the door or a long-term position as “founder” with the new owner?
- Is it best to lose 50% of proceeds to tax in a quick sale or take payments over years and accept the risk?
Benefits of the Workshop:
Since most people decide on Saturday to put their business on the market on Monday, they have not taken the time to clean up the smelly bits and present their company in the best possible light to attract the best possible dollar. So they leave money on the table. After this workshop, you will know better!
Since there are a lot of retiring owners selling their businesses, it is hard to stand out in the crowd and get the best dollar.
You will learn how to stand head and shoulders above the crowd.