Strategies to Exit Your Business
Tue April 23, 2024
11:30 am - 12:30 pm
$24.00
You may be able to receive this workshop free of charge. Create an account or login to your dashboard to check your eligibility.
Exiting your business can be as simple as closing the doors and going home to complicated take back financing and share retention. Rarely will you be offered a cheque without strings. In this workshop, you will learn how to prepare your business for sale, how to ready yourself for a sale of assets or shares, why capital gains tax really matters and structuring a deal.
10 years ago, the TD reported that 60% of their business customers had no exit plan beyond simply closing the doors. For the next 10 years there will be more businesses for sale by their retiring owners than ever before.
Most businesses do not get full value for their company because they did not prepare themselves or their company beforehand. It takes 2 or 3 years of solid financials and a tidy organised business for a potential buyer to secure financing from an institution.
Learning Outcomes:
How to prepare your business for sale.
Valuing the business.
Using a broker or selling yourself.
Should this be a share sale or asset sale.
What about shareholder loans?, receivables, payables, physical assets, company vehicle, cash in the bank?
your goals: a quick dash for the door or a long term position as "founder" with the new owner.
Since most people decide on Saturday to put their business on the market on Monday, they have not taken the time to clean up the smelly bits and present their company in the best possible light to attract the best possible dollar. So they leave money on the table. Workshop participants will know better.
Since there are a lot retiring owners selling their businesses, it is hard to stand out in the crowd and get the best dollar. Workshop participants will know how to stand head and shoulders above the crowd.
Presenter:
ANDREW GREGSON
Bio: Andrew Gregson, BA, MA, M.Sc.(Econ) has been talking about and educating business owners about pricing for the past 15 years. Gregson is the former owner of 5 service businesses and has worked in finance for the past 20 years. Andrew worked for a number of years with a Chicago consultancy. Andrew has also been part of the senior management team in manufacturing and distribution companies with employees of up to 1400.
1-604-289-4222
information@communityfutures.ca
