A successful ownership or generational change is largely dependent on the preparations you have made prior to the business transfer.
The first rule is to start the sale or transfer process well in advance. First and foremost, the business needs to be ready for the change of ownership or generation, and secondly, you need to be clear on whether you want to make a generational change or sell the business to a third party.
Preparing your company to be sales-ready encompasses all areas, including the organization, commercial foundation, suppliers and customers, as well as optimizing the company's legal basis, production apparatus and capacity. These are all important elements of the preparation phase, and after a sales readiness process, you know which areas you need to work on to strengthen your company's commercial foundation.
Lack of preparation can have financial consequences and prolong the sales process
In some cases, your company's contractual and business structure will work because you are the owner-manager and know your employees and suppliers. But this also means you take a number of things for granted, and you generally don't need any structure or backup in your day-to-day operations. You know how all the processes in the business are carried out, but often without the necessary safety net that would be vital in the event of illness or accident.
For a new owner, taking over a business on this basis is not a viable option, instead there is a risk that potential buyers will be scared away because the business is not ready for sale. This can negatively impact the timeline of the sales process. However, by working in a structured way to optimize the company's business foundation, the company will become sales-ready. In some cases, this will require actual business development.
After that, a good change of ownership is a given.
Leave the preparation to experienced professionals
Even when the company is prepared for a change of ownership or generation, it doesn't change the fact that the sale or transfer process in both cases are extensive processes.
With years of experience and even more successful business transfers, Virksomhedsbørsen as knows what it takes to execute an ownership and generational change at the highest level.
You can read more about what the process requires and the opportunities it brings here.
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