#76 Preparing Your Business for Sale with John Denton

In this episode of the Committed Creative Podcast, I interview John Denton, a business coach who specialises in preparing businesses for sale.

John shares his expertise on how to get a business ready for sale, the challenges business owners face during the selling process, and the key factors buyers should consider when purchasing a business.

He emphasises the importance of systemising a business, separating the owner from the day-to-day operations, and having clean and up-to-date financials.

John also discusses the advantages and disadvantages of starting a business versus purchasing an existing one, as well as the unique considerations for franchise businesses.

Key Takeaways:

• Systemise your business and separate yourself from the day-to-day operations to make it more attractive to buyers.
• Clean and up-to-date financials are crucial for a successful business sale.
• Consider the structure of the business and ensure it is set up for a smooth transition to a new owner.
• Conduct thorough due diligence when purchasing a business, including reviewing financials, assessing systems and staff, and evaluating the client base.
• Franchise businesses require careful consideration, including reviewing the franchise agreement, conducting market research, and speaking with current and former franchisees.

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Find out more about John here.

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