Make sure your accounts are up to date, providing full details of the financial performance including - • Profit and Loss accounts from the previous 3 years. • A schedule of abnormal and/or non-recurring costs. • GST returns for current trading year to date. • Obtain industry average figures from your accountant to establish how your business compares to the industry average (we can also help with these) Produce a cashflow forecast - A sale may be reliant on being able to demonstrate good cashflow. First impressions count - If any area of your business premises is looking neglected, now is the time to sharpen it up and re-paint or redecorate as required. This includes cleaning the plant and checking any outstanding maintenance work is carried out. Create an operations manualDocument all business systems and processes. This will provide the purchaser with all the information they require to run the business, and more importantly, shows that processes have been thought through. Compile a comprehensive list of plant, fittings and equipment that is part of the saleThis is a good time to look at age, condition and effectiveness. Buyers will be checking to see if items need to be replaced. Having a service warranty and schedule would be helpful; or even an expert report on their state of repair or effectiveness. Customer satisfactionHave you done a customer satisfaction survey? If you haven’t then as a bare minimum, obtain testimonials from happy customers. P L A N N I N G C H E C K L I S T
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