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What Are The Common Mistakes When Selling A Business?

Posted by Trinder on March 17, 2023

Sovereign Corporate is the latest sphere of the Sovereign Business Transfer group. This bespoke consultancy service offers business owners expert advice so they can navigate the complex process of selling their business.

If you have reached the stage as a business owner that you feel the time is right to offer your business to market then there are a number of things that you should consider.

Firstly have a consultation with an experienced business broker. Let them advise you on exactly what your business is worth and how to achieve the absolute maximum value for your business when you put it on the market.

This is very important because without sound advice from an expert in the industry you may well undervalue your business or not be made aware of the potential buyers that an experienced business broker could put you in contact with.

You will have built up your business over a number of years, perhaps even decades so the sale of your business should be reflected in that commitment. Which basically means take your time to examine the market and this may involve waiting for the right offer at the right time. This can make a huge different in the price you get for your business.

Another important point is to explore your options. An experienced Business Broker like Sovereign Corporate has a wealth of industry knowledge and contacts which may be looking for a business just like yours, perhaps as a bolt-on opportunity or to add to an already existing business portfolio.

Once you have decided to put your business on the market it is important to consider exactly what type of exit strategy you want to put in place. Sovereign Corporate have a number of options they can offer from a discreet sale to an analysis of what your business should realistically be offered to market for using the latest industry knowledge and business metrics.

If you have made the decision to put your business on the market then get in touch for a confidential, no obligation meeting with our Managing Director; because at Sovereign Corporate we put you the client at the forefront of everything we do.

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