Even in a market that’s flush with private equity, selling a business is not as simple as just putting a price on it.
That’s why Emery Ellinger, CEO of the Aberdeen Advisors mergers and acquisitions advisory firm, counsels owners to start thinking about selling a few years before they’re actually ready to do so.
With that in mind, here are five key things that need to be in place for a seller to get top dollar:
– A solid management team.
– Intellectual property rights.
– Three years of reviewed or audited financial statements.
– Detailed lists of assets.
– A strong leadership succession plan.