When it is time to exit your business and focus on what comes next, considering your options can be overwhelming. Who do you sell your business to? Will they be the right culture fit? What about your legacy? And will you have enough liquidity to achieve your retirement goals? Read on to learn how to find the right buyer – that checks every box – for your business.
Identifying a successor
When you are ready to sell your business, there are many investors that may be interested in buying it. You may have identified interested buyers in the course of business, such as an employee with strong leadership skills or a family member deeply involved in the family business. Or you may be struggling to identify third-party candidates that are a whole-fit for your succession. With so many options, it can be challenging to locate serious investors or feel confident that they are a positive culture fit for your business.
Work with an advisor that cares about your goals
This may be the time that you would like to contact a business advisor. There is no one-size-fits-all approach to selling a business, which is why it is important that your business advisor helps you make a choice that best fits you and your needs. At Quest, we prioritize your goals as the business owner and make sure that all aspects of the business sale support your goals, including qualifying buyers and meeting liquidity goals. There are several aspects that we look at when considering the right buyer for your business, such as qualifying buyers and ensuring they would work well with the company culture you’ve built.
Identifying qualified buyers
One of the best ways to identify a serious investor is to qualify financials before considering any offers for your business. To know if an investor has the funds to purchase your business, you must first know the current market value of your business. A valuation is imperative in understanding the market value of your business in order to qualify potential buyers. A business advisor will provide an in-depth valuation of your business, but complimentary online tools are a great place to start, such as Quest’s informal valuation tool, available at this link.
Verifying culture fit
Financials are not the only aspect to consider when qualifying buyers. It is important to consider intangible aspects such as culture fit when exiting your business. This may include the future trajectory of your business and the livelihood of your employees. Finding a buyer that checks off your whole list is the best way to preserve your legacy and ensure that you leave your business on your terms. To capture these intangibles, you need to work with an advising firm that gets to know you, your business, and your goals. Your advisors need to listen to you and work with you towards your goals, which is our priority at Quest. We truly care about making sure each step of the exit process supports your long-term goals.
Quest’s Change package and competitive exit process
At Quest, we care about our clients and their goals. This includes a comprehensive qualifying process that considers whether a buyer is a good culture fit for your business. Furthermore, our Change package handles all aspects of your business sale, including targeted outreach to buyers. Our advisors work diligently to achieve your desired outcome at each step of the transition process. We understand the gravity of selling your business and we make it a priority to support you in every way we can. Our process is designed to make you feel supported and confident at every step of the way.
Our competitive exit process guarantees multiple offers from qualified buyers, often exceeding your expected final sale price. Quest advisors handle all aspects of the transition including:
- family office coordination
- targeted buyer outreach
- negotiation and analysis of offers
- structural advisory
- tax planning
- creation of marketing and offering
Our seasoned experts can get you optimal results. We know that selling a business is more than a final sale price – this is about preserving your legacy. Quest can help you find the right buyer and ensure you exit your business on your own terms.
Preserve your legacy
Our Change package includes a guaranteed return on investment (ROI). To learn more about our Change package and to chat with a Quest advisor, click here to contact us. We look forward to getting to know you and your business and working towards meeting your goals.