06/03/2015 by Nita Coetzee
Corporate firms use sophisticated transition plans to allow staff to get promoted, to leave and to retire.
Does a SME business owner have the same options? Selling your business can be a once-in-a-lifetime experience and everyone wants to get the best price. No business is “ready for sale” overnight – it takes time, planning and careful management.
Monteck Carter knows a lot of “baby boomer” business owners are already working on planning their own retirement. Some won’t actually get to 65 for ten years but having a large number of firms come up for sale at the same time may mean prices get depressed.
Experts agree that preparing early (2 to 5 years before you hope to sell) is essential to achieving the best price. Business owners traditionally consider the sale of their business as a part of their retirement package. However… What if it is not saleable? What if there are no buyers? What are your options?
Monteck Carter is your expert advisor helping business owners plan the sale of their business. We are hosting a series of seminars for business owners who want to ensure that when they want to sell, they get the best possible price.
We understand how to:
- Make your business finances attractive to purchasers
- Plan your personal financial outcomes
- Plan for succession in family businesses as ownership transitions from one generation to the next
The Business Owners Seminar Series
These series started in 2014 and will run to 6 events in total. The next seminar on the 24th March we talk to Rob Young an expert in Transitioning a Manager into your business.Rob will talk about the advantages of selling to someone already working in the business or bringing in a manager with a view to enabling them to buy the business over time. We will also hear from Sharon from Icom Communications who has been through the process and can give us her insight into the transition process. Book your seats now!
The first seminar we held was in October with speaker Tom Wilson, CEO of Shears & Mac touching on issues that have an impact on how your business will fund your retirement. Read more about this!
Our second seminar was held in November and we had a panel discussion with two business owners who are also clients of Monteck Carter. Doug Hitchcock previously CEO of Glassfields NZ and Hugh Chapman previously CEO of Aqua Environmental Services Pty Ltd both built up businesses from scratch and achieved multi-million dollar sales to a publicly listed company. Hear how they were able to gain maximum price from their business sale. Read more about this!
The third seminar in February was led by Paul Ayres and Myles Cooper from Challenge Partners – they buy businesses as investments and were able to showcase the buyer’s perspective and how they select or reject a business. Read more about this!