Preparing Your Business for a Successful Sale

During the year we assisted a few clients sell their businesses, and one thing became very clear: the best outcomes always came from those who planned well in advance.

Selling a business isn’t simply a transaction - it’s a transition. For many owners, it represents decades of commitment, risk-taking and personal investment. Because of that, the sale process deserves thoughtful preparation. A well-considered succession plan not only strengthens the business ahead of a sale but also helps the owner achieve a smoother transition and a better financial result.

Good planning starts with clarity. Owners who take time to think about when they want to exit, how they want the sale to unfold, and what they need personally from the outcome tend to move through the process with more confidence. A realistic business valuation often follows, helping identify what truly drives value and what areas might need improvement before going to market.

Much of the real preparation happens inside the business. Buyers want stability, strong financial performance, documented systems and a business that can operate without being reliant on the current owner. Tidying up financials, strengthening margins, reducing key-person dependence and ensuring processes are clear and transferable can all make a significant difference to both buyer interest and sale price.

Every business attracts different types of buyers. Some owners discover that a natural successor exists within their team, while others find opportunities among competitors, investors or new entrants to the industry. Understanding who is most likely to purchase the business helps shape how it is presented and where to focus your preparation efforts.

Throughout the journey, one constant remains: the value of expert advice. Accountants, lawyers and brokers each play a critical role - from structuring the sale and preparing financial information to managing negotiations and ensuring the agreement protects the seller’s long-term interests. Engaging these advisers early is not only wise; it is often what differentiates a good sale from a great one.

When the right buyer is found, the focus shifts to transition. Clear communication with staff and customers, organised handover processes and practical support for the incoming owner all help safeguard the business’s performance and maintain the legacy the seller leaves behind.

Selling a business is a major milestone, but it doesn’t need to be overwhelming. With early preparation, the right guidance and a structured approach, owners can step confidently into their next chapter.

And of course - don’t forget to phone your accountant.

Their insight into valuation, tax planning, financial clean-up and due diligence is invaluable, and involving them early can make a real difference to the sale result.

Tips for a Successful Sale

• Begin preparing 2–5 years before your intended exit - time creates value.

• Keep financials clean, consistent and transparent to build buyer confidence.

• Reduce reliance on the owner - a business that runs well without you sells better.

• Strengthen profitability and aim for stable, predictable cash flow.

• Simplify structures, contracts and processes to reduce buyer risk.

• Review your succession and exit plans annually to stay aligned with your goals.