MARCH _ 2020 Three ways to add value to your business Make your business stand out by creating additional value. Here are three things you can do to maximise your sale price BUSINESS EXPANSION AND/ OR PLANNING PERMISSION Plans to increase or diversify service lines or build an extension can be almost as valuable as doing it. If the research is thorough and you can produce the relevant paperwork and permits, this will show any potential buyer that your business has more value than what is shown on the PNL statement. REDUCE YOUR OUTGOINGS The bottom line in so many business sales is profit. Increased profits mean you increase the saleable value of your business. The most obvious but timeconsuming way to do this is by increasing your sales. But it can also be achieved by looking carefully at your overheads to make savings. Shopping around to lower your supply costs will also boost your profits for very little effort! PUTTING A PRICE TAG ON SOMETHING YOU LOVE IS HARD, WHICH IS WHY IT'S VITAL TO CALL IN INDEPENDENT PROFESSIONALS YB2020 Dynamis DPS jw3.indd 109 SIMPLE RENOVATION AND MAINTENANCE A prospective buyer will be looking at your business through new eyes - which means they're likely to see things you've become blind to such as minor wear and tear of equipment and fixtures and fittings. Good renovation will not only mean that your business looks tidy and in good repair, but it will also remove opportunities for buyers to drive a harder bargain at sale time, and leave you with some extra room to negotiate. A buyer will only pay what your business is worth, and any overvaluation could well compromise your chances of obtaining a sale at favourable terms. 11/02/2020 15:03