Six Steps to Building a Sellable Business

Six Steps to Building a Sellable Business

As you build your company, it’s important to keep in mind that you may sell in the future.  As such, how do you ensure your business will be attractive to sellers?  When the time comes, there are several parts of the business that will be taken into consideration by potential buyers. 

Let’s examine the top six areas of interest to potential buyers:

 

  1. Wouldn’t it be great to buy a business that had an active customer base?  One of the most important attributes you can offer is a loyal customer base.  Taking the time to build loyal customers will put you ahead of your competition. The new owner will appreciate that their business will be supported by loyal customers from day one.
  2. To reach full marketing potential, it’s important to build a strong social media base.  When reaching out with marketing material and offers, there is value in having an active and engaged social media following.
  3. As your business grows, your investment in technology should grow.  Keeping up-to-date with technology keeps your business running smoothly.  Staying current in this area gives your customers confidence in your abilities to operate seamlessly.
  4. Location is ALWAYS key!  Do you have a desirable location?  Do you reach the customers you want to reach based on where you are located?  If you answered yes to these questions, you clearly understand the importance of a great location.  A desirable location will garner the best ROI when it comes time to sell.  If the property is leased, the longer the lease options are the better for the new owner.  Once you’ve secured an optimal location – hang onto it!
  5. New buyers will be interested in seeing three years of financial statements. The cleaner your financial statements are, the better it will be for new buyers to see the whole financial picture.
  6. If you are planning on selling in the future, even in the distant future, it’s a great idea to prepare an exit strategy.  Having clear and proven rules and procedures in place will allow the new owner to build on your success.   

At A R Business Brokers, we have experts who can help you prepare your business for sale.  Our team will conduct a proper evaluation to show you the value of your current business.  If you are interested in buying or selling a business contact our office today to get started.  Visit the business listings today at www.aldrin.ca