Preparation, preparation, preparation
Preparing to sell your business
The approach to the end of the year is often a time when business owners take their heads out of day to day operations and reflect on their future, both personally and for the business.
When sellers first enquire, their initial questions are “what is the process?”, “how long does it take?” and “what information do we need to prepare?”
The Selling Process
Hornblower runs a time focused process which we have detailed on our website page: The Selling Process. For businesses in the niche sectors that we deal with, we look to reach Heads of Terms within of 3 to 6 months of being instructed with due diligence and legal transaction taking a further 2 to 3 months.
Preparation is key when selling a business. It is important to ensure that management information is up to date, readily available and clearly presented.
Hornblower helps sellers to prepare this information and will produce a full Sales Memorandum to enable buyers to make an informed decision whether to proceed.
Please click here for a list of the Documentation and Information that we will typically need to make a start.
Our niche sectors
Hornblower deals with niche sector businesses, namely engineering and B2B service sector businesses. We are frequently asked for the following types of businesses.
- Aerospace engineering
- Precision engineering
- IT support
- Document scanning
- Archive storage/record management
- Lettings and block management
- Accountancy practices
Do you have a business for sale in one of these sectors?
We have active buyers on our database, so can find the right buyer for your business.
Questions for business owners:
In considering whether to sell your business, ask yourself the following questions:
- How long do you wish to continue running your business?
- If you were to sell your business, how much would you want to achieve? Should you start grooming the business for sale?
- Do you need to take advice? What is the value of your business? What are the various options for exiting your business?
At Hornblower, we like to start dialogue with our clients 2 to 5 years in advance of when you are looking to selling. We are always happy to offer advice on valuation and what performance metrics you need in order to achieve your desired deal value, as well as offer general advice on the various options for exiting your business.
Call us on 020 8090 9380 or email us on [email protected]. Speak to either myself or Mark Sykes from our Midlands office, we would be delighted to advise on all aspects of your business sale.