S AV V Y B U S I N E S S S A L E S
THE ROAD
to retirement WITH ROD RUSSELL // SAVVY BUSINESS SALES Statistics suggest approximately 75% of business owners are “baby boomers” and a majority of them will be looking to retire and exit their businesses in the next five years. Surprisingly, many owners are not aware of the options and processes available regarding possibly one of the most important transactions of their career. Often the next generation is not interested in transitioning into their parents’ shoes, so owners really only have a couple of options. They can either sell the business or wind it up and walk away. The second option is brutal and will affect many including staff, suppliers, customers and, of course, result in a financial loss. Option one can result in a seamless transition with a well-deserved financial windfall included. So, how do you go about selling a business? Most brokers provide obligation fee appraisals and examples of recent sales results on comparable businesses, to calculate a realistic sale price.
If you are satisfied with these expectations and you engage a broker, the business must be prepared for sale. With the help of your professional advisors, business brokers will guide you through the preparation process, ensuring the business achieves a premium price while meeting buyers’ stringent expectations.
Brokers will do everything possible to find the most suitable and capable buyers possible. We work for a success fee, so the selling fee is not paid until settlement is completed. No doubt it would be a daunting decision for most business owners to sell after many years at the helm, however, they may be pleasantly surprised with the outcome if they choose a professional business broker to handle the sale. ca www.savvybusiness.com.au
With over 25 years’ experience selling businesses on the Sunshine Coast and beyond, Rod Russell and his awardwinning team at Savvy Business are leaders in buying or selling businesses.
ASK YOURSELF THESE QUESTIONS... What is important in your life? What would make this a great year for you? What do you need to achieve your business goals? What’s the biggest obstacle getting in your way? What do you need to say no to, to make this happen? What is your business exit plan? If you don’t know the answers or your accountant doesn’t ask you these questions, then it might be time to change accountants?
LET US HELP YOU ACHIEVE YOUR GOALS.
Level 1, Capital One, 9 Capital Place, Birtinya QLD 4575 p: 07 5439 1600 • e: support@completebusiness.com.au www.completebusiness.com.au www.mattersmagazine.com.au 69
