Are you noticing a steady rise in operating expenses, month after month?

When everything’s going well in your business, it’s natural to feel like there’s no need to consider an exit. However, who was expecting the 2024 budget to have such a harsh impact on businesses? The best time to sell is often when things are going great, as this is the moment when you can secure a strong legacy, maximum profit, and a smooth transition for everyone involved. Waiting until circumstances change could mean leaving money on the table or dealing with unforeseen challenges down the road.

No problem! Direct collaboration is essential. Working together will help us achieve both our goals more effectively.

On average, the acquisition process can take anywhere from 3 to 6 months, with some cases completing sooner and others requiring more time. Careful preparation and proper positioning of the business can help streamline the process.

Make sure you get a signed mutual non-disclosure agreement before showing any documents or entering into any negotiations. You will be asked for several documents, but don’t let that overwhelm you. First, get to know the buyer and be sure you share similar goals and values. Tenera Care Group’s first step is to evaluate the quality of the relationship that will exist with its home care partners, if the relationship is not excellent, there’s no point in asking you to gather documents. If the fit feels right for you, remember to speak to your accountant to clarify the tax impact of a sale.

It’s best to consult with a qualified accountant before making any decisions. In some cases, buyers take on the debt, while in others, the debt is either settled by the owners beforehand or paid off from the sale proceeds.

Yes, retaining staff is crucial to a smooth transition and to maintaining business continuity. Existing staff bring valuable experience, relationships, and operational knowledge, which can reassure the buyer and support a successful handover. Their presence increases the business’s overall appeal and stability during the transition period.

Many buyers value the continuity and expertise that a previous owner can bring. Staying on in an operational or advisory role can support a smooth transition, reassure the new owner, and help maintain stability for employees and clients alike.

Exclusivity is necessary because buyers typically incur substantial fees for due diligence, including those from accountants and solicitors, as part of their commitment to the transaction. By granting exclusivity, you provide the buyer with assurance that their investment in these evaluations is protected, allowing them to focus fully on assessing your business. This dedicated approach benefits both parties and helps keep the sale process efficient and focused.

Maintaining confidentiality around the sale is crucial, especially concerning staff awareness. It’s recommended keeping the sale private to prevent any disruption or uncertainty among employees. Open communication with key team members can be addressed at the appropriate time to ensure a smooth transition and minimise any potential concerns.