The keys to an effective earn-out

Love them or loathe them, earn-outs are a fact of life when selling a service business.  It is rare to see an M&A transaction in which an earn-out is not required, so better to set the expectation now than to confront it at sale time unprepared. For those...

The Number One Value Driver

In my experience, the number one objective of any business owner looking to exit is to achieve the highest possible sale price.  It stands to reason, then, that all of you business owners out there would like to know the secret to maximising value.  This little secret...

Choosing your advisory team

The vast majority of business owners I come across who commence the sale process have no previous experience in selling (or even buying) a business.  Whilst strong business acumen helps considerably, the M&A process is quite complex in its entirety and littered...

Business Owner Tips: Preparing your agency for sale

The old saying goes that there are only two sure things in life: death and taxes.  If you are a business owner, you can add a third “sure thing” to the list: you will, at one time or another, exit your business.  (Let us hope that it is a voluntary decision, and not...

The development of an Exit Plan

In June 2004, the BRW commented on research into the exit plans of closely-held business owners published by CPA Australia thus: “In the next five years, tens of thousands of small businesses will be up for sale.  Many will not find a buyer.” The fundamental causes of...