‘Maximising value for sale’ part 1
If you are thinking of selling your business in the future, it takes careful planning to ensure that your offering is optimised. We recently held a workshop (part one of two) for owners of media agencies, exploring some of the key areas that you need to focus on when preparing to maximise the value of your business. Here, our speakers summarise the importance of getting certain aspects right to make your business an attractive proposition that will command a price that reflects its true worth:
Hindsight: The viewpoint of the seller
Chris Matthews of Sutherlands PSBD, who sold his agency Hogarth Partnership to Engine Group, looks back at what they did right during the sales process and what they would do differently now with the benefit of hindsight, covering the key areas that made the agency an attractive proposition and those that, had they been given greater focus, would have ultimately further maximised the value on sale.
Top tips for maximising the value of your client portfolio
Your clients need to be able to validate the growth plans that you put forward to a potential buyer. Courtland Clarkson, Managing Director at Magis Partners, focuses on what you need to have in place when it comes to your client portfolio.
What a buyer looks for in terms of an agency’s team
The talent in your organisation is a real source of value so buyers need to be confident that the expertise your agency holds is locked in. Mark Slattery, Director at Kingston Smith HR Consultancy, discusses how to secure your talent-base to ensure its longevity once the agency is sold, including the use of a cohesive benefits structure, the embedding of a positive culture and a clear strategy for retaining key players.
Key considerations when planning to sell
There are many parts to a sales process that you need to be aware of before embarking upon exit. Mandy Merron, Partner at Kingston Smith Corporate finance focuses on the key attributes that a buyer looks for in a potential acquisition, how a business is valued, how to prepare for the due diligence process and how to balance the negotiations and demands of a sale with the day-to-day running of a business.