Thorogood & Associates
Most estate agents will advise that a well-maintained house, presented nicely, will secure a better price and sell quicker.
Leaking gutters will indicate poor maintenance and potential buyers will wonder what else lurks under the rafters. DIY electrics, as opposed to professional certified repairs, will cause concern when the survey takes place and the potential buyer may withdraw or demand a discount to cover those repairs.
So when it comes to business, why do business owners often fail to maintain their business in good order? Why do they put off updating their Employment Handbook, obtaining the electrical certification for the premises, or ensuring that financial accounts are up to date?
Keeping on top of business maintenance across all areas, is no different to maintaining a house. When you come to sell, there will be far less to fix and you, as the owner, will be in a far stronger position.
Regular and preventative maintenance of the business ensures that the business owner is more prepared for sale, but also reduces the barriers to sale.
Ask yourself the following questions;
Leases on premises need to be kept under review because of lease break points, terms and potential repair obligations.
Thorogood & Associates UK assist businesses to become Investment or Sale ready. Spending some time and resource checking that all areas of the business are in good order is money well spent and reduces the issues arising during the Due Diligence process.