Get Your Business Ready
Before diving into a sale, make sure everything’s in order. Update paperwork, sort out disputes, and see how your business looks from a buyer’s perspective. Keeping things organised will boost your chances of a successful sale.
Value Your Business:
Find out what your business is worth. It’s not just about assets – reputation, staff, and liabilities count too. Get a free business valuation in under 60 seconds.
Think About Using a Broker:
Instructing a good broker can make a huge difference. At CoGoGo, we do the heavy lifting for you, maximising exposure and guiding you through the nitty-gritty details of a sale.
Promote Your Business:
Spread the word far and wide! At CoGoGo, we list your business on major portals and advertise businesses to our diverse database, potential buyers might just be a click away.
Close the Deal:
Once you’ve found a buyer, nail down the details. Get a solicitor involved to make sure everything, from payment terms to ownership transfer, is crystal clear and avoids any misunderstandings.
Ensure a Smooth Transition After Sale:
Communication is key after the business changes hands. Keep your team in the loop, as they’ll likely become part of the new owner’s crew. Make sure you’re following all the legal requirements too.
Arrange a Good Timeline for Selling:
It’s tricky to predict how long it’ll take to sell your business. Factors like market conditions and external events can play a role. Stay flexible!
Deal with Taxes:
If you make a profit, be ready to pay Capital Gains Tax within 12 months. The amount depends on how much you make.
Understand SAV:
SAV, or Stock at Valuation, impacts the final amount paid by the buyer. It’s the value of the stock assessed just before the sale wraps up.
Get Expert Help from CoGoGo:
CoGoGo has dedicated business advisers and a support team to make your business-selling journey smooth. We know all the details and we have a massive database of active buyers. Let’s chat about your goals and get started!
Selling a business might seem daunting, but we’re here to make it stress-free. We simplify the process, increase your chances of success, and help you navigate the exciting journey of selling your business. Whether it’s retirement, a change in priorities, or new opportunities calling, give us a call today to discuss your options!