BUSINESS SUPPORT
PREPARE YOUR BUSINESS FOR SALE LIKE YOU WOULD YOUR HOUSE compliance procedures as an example . How well-managed and monitored are they , and how are they documented ? Consider it a bit like Consumer Duty , but for purchasers . What can you provide to a purchaser that instils confidence that compliance matters are handled well and that there are as little risks within the business as possible . If after conducting an internal audit you believe some areas require building / re-building / updating , then get them done . If you need help , call in some tradespeople ( in this instance , that ’ s us . We can ’ t fix up your screen door , but we can whip up an efficient compliance process ).
Kitchen upgrades This differs from fixing and cleaning . You might have a perfectly functioning advice process , for instance , but could it be better ? Are you up to date with modern trends ? Much as a modern house buyer might baulk at a house with no central heating and outside toilet , if a prospective buyer wants your firm to integrate quickly with their stable , or at least easily run alongside , do you have the modern systems that they can understand and work with ? Is there a need to adopt bigger or better processes , or even adopt alternative software that would make onboarding your firm easier ?
As with any preparations to sell , the key is to make it easy for a purchaser to see the potential and remove doubt regarding the integrity of the asset . At SimplyBiz we can support you both as a buyer or a seller through our Horizon programme .
No exit strategy ? It ’ s never too early to think about your end game . Contact Horizon for help and advice on getting your journey started .
Log into our website and select Horizon from the menu bar . https :// members . simplybiz . co . uk / horizon /
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