Building an exit ready business is about creating options. An exit ready business will give you more control over what you do in the future and when you decide to do it.
You need to know the options to be ready for them and WT Value will take you through all the choices to find the best fit for your business goals and aspirations.
Sell to a stakeholder
Options for selling or handing over your business to stakeholders who are already invested in it might include:
- Transfer to the next generation
- Management buyout
- Sale to existing partners
- Sale to employees
The option you choose will influence how you prepare your business in a number of unique ways.
An employee or management buyout might mean a greater investment in team management skills; it could also mean putting in place long term rather than short term employee incentive schemes.
Handing over your business to the next generation could trigger estate and tax planning sooner, and a possible future sale to an existing partner might dictate how you set up that partnership in the first place.
Sell to the highest bidder
Your personal and business goals could be better met by selling to a third party and these options might include:
- Sale to third party or competitor
- Bringing on additional investors
- Winding up the business
The asset value of your business and its reputation in the market place will influence a third party investor or a competitor sale, which might mean a bigger investment in sales and marketing or a push for customer diversity.
Additional investors will be more focused on business continuity, capital structure or risk which could mean working towards paying off debt first.
You might even get to your anticipated exit date and decide you’re not ready so you still want your business to be primed for growth.
Let WT Value educate you about the options and lead your business towards them so your vision is fully realised.