Ken Burgin has another conversation with Paul Leach, a business broker and the director of GSE Business Consultants. He’s sold nine of his own food businesses over the last 24 years, and has learnt a thing or two about how the sale process works, and the value of having your business ‘ready to sell’ at any time.
We discussed the importance of having well-documented systems and processes, and the value of cloud-based systems that make it easy for a purchaser to verify figures (eg Point of Sale, accounting, rostering and bookings). We also talked about the importance of a good long lease, and the many small things that make a business attractive to a potential buyer. Paul had buyers making unsolicited offers for some of his businesses – maybe that could happen for you too!
Listen to the other great interview with Paul Leach on How to Sell Your Business for the Best Price.