| Over the past twenty years working with operators, we have developed a range of ideas on ways to improve the performance, increase profits and capital value of the businesses which owners have worked hard to establish over the years. We share below some of the key areas where benefits can be achieved. - Benchmarking performance to understand where action may be required;
- Undertake a review of overheads, potentially via a cost consultant;
- Consider the timing of fee increases, if you can;
- Review equipment leasing v hire purchase, to assess the one that gives the right result;
- Make sure that your business structure is correct for minimising tax on sale (10% tax on sale is valuable!);
- Review the ownership of the trading property. You may not be in a position to obtain 10% Entrepreneurs’ Relief if the trading property is held personally;
- Ensure the profile of the business is optimised and focus on who the buyers
might be; - Keep up to date management accounts, in the right format, with Key Performance Indicators;
- Have your annual audited accounts prepared and filed in good time;
- Consider what data will be required on sale and make sure that it is in order;
- Think about who is going to advise on the sale and take advice early.
We would be delighted to discuss any of the points above to explain how we can help maximise the value of your business. For a no obligation meeting, please do not hesitate to call John Lucas on 01242 246670.
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