We begin by talking about the things that a buyer looks for when buying a business. A buyer looks for a consistent business that has been around for a while, with systems in place. They also want the financials to be good and pay a lot of attention to the tax returns. Buyers do not want a seller who is heavily involved in the day to day operations of the business.
Max advises that you should run your business like you are going to sell it tomorrow. This means working on those things that buyers look at. Buyers will conduct due diligence to look at how the business is being run and ask any questions they have.
Have you ever wondered how much your business is worth? We look at the process of valuing a business is valued. It is quite a confusing area, but we try to understand how it is done. One point to note here is that it doesn’t matter how long you have operated the business. The value will be determined using financials of the last three years and year to date.
Key Takeaways
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