What to think about when preparing your business for sale

Selling a business is not something you do every day. For many owners, it represents the culmination of years of hard work, investment, and personal sacrifice. Which is why preparation is critical. The way you get your business ready for market will significantly impact both the outcome of the sale and the legacy you leave behind.

At Seachange Advisory, we believe careful preparation is the difference between an average transaction and a truly successful one. Here are some of the key areas every business owner should focus on when considering a sale:

1. Understand Your True Value

Before you begin discussions with potential buyers, it’s essential to know what your business is realistically worth. This isn’t just about current revenue or profit—it’s about your market position, growth prospects, customer relationships, and key value drivers.

Tip: Get an independent, expert assessment of your business’s value parameters. This ensures you enter the market with clarity and confidence.

2. Improve Saleability

Small issues that might not impact your day-to-day operations can quickly become red flags during a sale. Poor record-keeping, outdated contracts, or over-reliance on a single customer can reduce both saleability and value.

Tip: Address these issues early. Strengthen systems, update key agreements, and ensure the business is not overly dependent on any one person or customer.

3. Get Your House in Order Financially

Buyers and their advisors will scrutinise your financial information in detail. Gaps or inconsistencies in reporting can cause delays or even derail the process.

Tip: Work with your accountant or advisor to ensure your financials are accurate, transparent, and presented in a way that demonstrates stability and growth.

4. Think Beyond Price

The highest offer isn’t always the best. Deal terms, payment structure, and the future of your staff and customers are all part of the equation.

Tip: Define your priorities before going to market—whether that’s maximising price, protecting your employees, or ensuring the ongoing reputation of your brand.

5. Prepare Yourself Emotionally

For many owners, the hardest part of selling isn’t financial—it’s personal. Stepping back from a business you’ve built can feel overwhelming, and emotions can sometimes get in the way of rational decision-making.

Tip: Recognise this early. Surround yourself with trusted advisors who can provide perspective, manage negotiations, and help you stay focused on your long-term goals.

The Bottom Line

Preparation isn’t just about getting documents in order; it’s about positioning your business—and yourself—for the best possible outcome. The more time and effort you invest upfront, the smoother the process will be and the more value you are likely to achieve.

At Seachange Advisory, we partner with business owners from the very beginning of their journey, ensuring that when the time comes to sell, they are fully prepared to maximise both value and peace of mind.

Thinking of selling? Contact us today to discuss how we can help you prepare your business for its next chapter.