selling your business - a checklist

Paul Munnerywww.stewartnash.co.uk

Our How to Sell My Business Checklist

covers the key stages for preparing to sell your business

http://www.stewartnash.co.uk/


Two Important Stages

• There are two stages to the process of selling your business:

• Pre Contact Stage: The six steps that should be completed prior to any direct contact with the potential purchaser

• Post Contact Stage: Managing the ‘engagement’ and conversations with the potential purchaser



Pre Contact StagePreparing to sell your business

1. Assemble your team• We will need to have an accountant, lawyer,

tax advisor (may also be the accountant) and possibly a valuation advisor, identified and waiting in the wings.

• If Paul Munnery is helping you, then he will be a part of the team and with your approval, will take the lead at the pre-contact stage.




2. Establish what it is you have to sell and why you are selling• There is normally a great deal of research and

analysis work to be done at this stage; all highly valuable for the stages to come.

• We will establish the impact of industry trends on the business and produce a clear understanding of what it is you are selling plus, the reasons why someone might want to buy the business.




3. Housekeeping• This stage is all about getting your house in

order. Ensuring that company records, tax/HMRC/Companies House returns are up to date and all the important behind-the-scenes workings of the business are in order.




4. The Journal• We will plan and establish how the business

can be sold and packaged as an opportunity for potential buyers.

• The Journal (often referred to as an Opportunity Plan or Prospectus) will fulfill a pivotal role in the marketing the business.




5. Marketing• You will want to have as many ‘qualified’

potential buyers as possible to be interested in your proposition, so we will establish a pro-active plan for marketing the business.




6. Establish first contact• There are several ways to establish first contact with

prospective buyers.• However, it is most likely that you will ask Paul Munnery to

make calls directly to prospective purchasers - completely anonymously in terms of your company and its location.

• If an expression of interest is received (and believed) then under the protection of a full Non-Disclosure Agreement, you might authorise Paul to send a brief summary to them but without any details from which the recipient could easily identify the company.



Post Contact StageFirst Contact

Post Contact Stage• Following the Pre Contact Stage after which,

contact will have been established, there will be four elements yet to manage in the Post Contact Stage, before you will be ready to agree a sale of your business.

• More about this at www.stewartnash.co.uk



We hope you found ourHow to Sell My Business Checklist

useful and helpful
