Selling your manufacturing business
Do you own a manufacturing business and are considering selling? Then you’ve come to the right place, as Core Business Brokers has a wealth of experience facilitating manufacturing sales. Alongside the standard list of preparation measures you should take when looking to sell your business (click here to read an article we’ve prepared earlier), here are some key considerations when listing your manufacturing business for sale.
Key considerations when selling your manufacturing business
Make sure your business is prepared for sale
Our team at Core Business Brokers will market your business correctly, to ensure we attract a healthy level of buyer interest. Once we bring prospective buyers to the table, it’s important that your manufacturing facilities are in order. Alongside making sure your facility is neat and tidy – consider any repairs to equipment or the premises that may be beneficial to the sale of the business. Ultimately, you want to view the facility from the eyes of the buyer.
For example, conduct an initial walk through and identify areas that prospective buyers may find fault with. These are areas to address when conducting a tidy up of your facility.
Tidy and organise financial records
An organised business is an attractive business. That is to say, that having your financial records in order will attract qualified buyers. From taxes to credit history, profit and loss, GST and more – ensure all documents are filed correctly and easily accessible for buyers conducting due diligence. In addition, if wrapping up accounts and paying off debts is achievable, this would be a good time to organise this as well. The team at Core has vast experience in advising what action to take pre-sale in order for the business to look attractive on all metrics.
Consider environment factors and laws
Environmental compliance is not only important to many buyers, it’s important to your community of customers. And when it comes to the environmental impact of big business, customers are becoming more aware and concerned. Therefore allowing their concerns to sway purchase behaviour.
Alongside this, the way your customer and local community view your business impacts the way buyers will view your business. A buyer will also want to ensure that the business is abiding by all environmental laws. And that these actions can be easily continued into the future.
Document all processes within your manufacturing business
The successful buyer will want to step into the business ownership role seamlessly. The goal here is to minimise disruption and allow for a smooth transition. Therefore, having all of your business processes documented in detail will assist the new owner during this transitional period. From operations to human resources, suppliers, payroll and more, pay attention to detail and document all processes (especially if there are many facets to your business).
Find a Business Broker experienced in your industry
You wouldn’t trust a Business Broker that deals solely in small lunch bar cafes to sell your large-scale manufacturing business. So why start now? Core Business Brokers has over 85 years of collective experience selling large manufacturing, import/export and distribution businesses.
Our team knows the Australian manufacturing industry, and more importantly, how to market your manufacturing business and guide qualified buyers to the sale. We’ll advise on the best practices and lead you through the business sale process with ease, answering any questions you have along the way.
So, if you’re looking to sell your manufacturing business and want to get the cogs in motion, contact the team at Core Business Brokers today. Get in touch with our Sydney business sales office at (02) 9413 2977. Alternatively, email [email protected] or [email protected] to begin your business sale journey today.
