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Preparing to sell your business

I want to share with you a sound strategy for selling your business that will give you the best possible chance of success. 

Recently I have been working with Gina Stevens and Wayne Ronald, Business Sales Specialists at ABC Business Brokers here in Mount Maunganui. Together they have sold the business of one of my clients, who sent a testimonial to me recently. My client said that taking a scientific approach, by being able to present his up-to-date business plan to a Buyer, combined with the industry-specific expertise of Gina and Wayne, made for a powerful and successful process. 

Testimonial - Shane Beech, Managing Director, Makatu Café

“The plan itself was excellent, it basically saved us. From a business that was struggling, it gave us an insight into how to run our business, deal with staff and increase productivity.  

We became more accountable with our stocktaking and ordering and calculating our Gross Profit % each week to meet the DaltonPlan® benchmark. We also introduced good health policies and procedures. 

When we put the café on the market, the business plan made the accountability and the professional side more attractive.  It made the business easier to sell without a doubt. 

As soon as I spoke to the broker and showed her the plan, she was super impressed and the DaltonPlan® plan made the whole deal so much easier.  It also made the transition so much easier for us and the buyer.  

I am genuinely so pleased we had the plan.” 

Shane Beech, Proprietor, Maketu Café 

I have included a guide below from Gina Stevens. 

The ABC Concise Guide to Selling Your Business

While each business presents unique challenges, there are some fundamental actions that you can take to significantly improve your chances of success. Here's a concise guide to a few basic but essential steps: 

CONSULT WITH YOUR ACCOUNTANT

Start by informing your accountant of your intention to sell. Request a review of your financial records, including the P&L, and a depreciated asset schedule.

Aim for two complete financial years', and a year-to-date P&L statement. 

Have Transparent financial records

If your business deals with cash transactions, ensure that all cash income is properly documented and deposited. Transparent financial records are crucial when negotiating the best price. 

CLEAN UP

Make sure the business is clean and well-maintained. This will leave a lasting impression on potential buyers and also enhances its appeal. 

PARTNER WITH A TRUSTED BROKER

Partner with our trusted broker team at ABC Business Sales, who understands your industry. Start with a FREE appraisal to determine your business' market value. As part of the process, ABC will work with you to identify and prepare key areas of your business prior to sale. 

PREPARE YOUR BUSINESS PLAN

Prepare your business plan with Dean Dalton at DaltonPlan® Business Action Planning Limited to show a potential buyer a transparent view of your business’ Financial Records, Operational Systems, Marketing Strategies and Critical Resources that relate to the successful day-to-day running of your business. 

ABC Business Sales Key Skills

Here are some of the key skills that ABC offers to its clients. 

NEGOTIATION

A large part of achieving a successful sale is the negotiation. As a team we pride ourselves on helping the purchaser see the value in the business. 

BUYER MANAGEMENT

We work closely with purchasers and their advisers, making sure that they stay motivated throughout the negotiation and sale process. 

MARKETING

With 13 years of experience in marketing, you can count on us to ensure your businesses stands out. Our innovative strategies will set your business apart from others. 

SPECIALISTS

We’re focused on hospitality business sales, making us specialists in this field of expertise. With a track record of successful sales of cafes, restaurants, bars, clubs, and pubs, we bring a level of expertise that few can match. 

TEAMWORK

Wayne and Gina offer twice the expertise without additional cost. With in-house legal and marketing expertise at their fingertips, a 37-year company history and strong systems, they've earned the trust of both buyers and sellers, through the completion of a large number of successful deals. 

Gina Stevens - 021 338 062 gina.stevens@abcbusiness.co.nz  

Wayne Ronald - 021 064 7355 wayne.ronald@abcbusiness.co.nz    

 If you have any questions after reading this information, go to Contact Us on our website www.DaltonPlan.co.nz and type in your request, or just call Dean on 021 27 17 043.

Joanne Dalton