If you are determined to receive the best price for your business when it’s sold, it is important to prepare your business for its eventual sale.The five key aspects of the preparation process are.1. Stop Running the BusinessMany buyers have been conditioned to think that a business cannot perform without the original owner. Many prospective purchasers are afraid that once the current owner leaves, the company will underperform and this fear prevents many businesses from ever being sold.When preparing your business for sale it is a good idea to reduce the amount of time you spend running the business on a day to day basis. Most small businesses are built around the owner/manager which is why prospective buyers feel the business will falter once it has changed hands. If you can show that the business can operate profitably without you then you have a business with value that should sell for a premium.2. Hire ManagersBuyers like stability and they dislike risk. One way you can decrease the perceived risk of acquiring your business is to put good managers in place. If you are able to hire managers and build in a chain of command that removes you from the day to day running of the business, while ensuring it still runs efficiently, you have taken away a significant stumbling block for many buyers.A profitable business which comes with well-trained managers who know the business well, and are willing to continue running it from the day one, is an attractive proposition that many buyers will not pass up on.3. Put Business Systems in PlaceDuring the preparation period, aim to have all your business processes documented and working in a defined system. All business practices should be well-defined and each member of your organisation should have a clear role with a well understood job specification. Use the preparation period to build in systems which explain and document how each process of your business works and all employees should be well versed in how these systems work.Building in systems is important as it will improve a buyer’s confidence and this will lead to better offers. A business that works smoothly and efficiently, with clearly defined processes and systems, is a positive for many buyers as this reduces the amount of time and resources they have to spend understanding and fixing inefficient practices.4. Legal IssuesIt is very important to settle any legal disputes or issues that may affect the sale of your business as any buyer worth their salt will conduct some form of due diligence if they are serious about purchasing your business.Many deals have collapsed due to legal issues or disputes that the vendor has failed to sort out or disclose. If you are able to solve these issues prior to negotiations and due diligence you have paved the way for a successful sale. Issues such as lease agreements on property and equipment, outstanding payments or court settlements and other potential liabilities should be tackled prior to the negotiation period as these issues are notorious for collapsing deals.It’s also a good idea to turn any verbal agreements you have with key suppliers and customers into written contracts. Prospective buyers want to feel confident that all the key aspects of the business are tied down and enforceable by law.5. HousekeepingIt is important to pay attention to your premises and ensure that all equipment and stock is up to date, that your office looks neat and professional and all unsold or out of date inventory is moved on. First impressions of your business count so it’s important you make a good one.You should also use this period to begin looking at your company accounts. Many small businesses are set up to minimize tax but this method of accounting leads to lower valuations as many offers are made by applying a multiple to yearly profits. If you are able to adjust your accounting methods or at least build in a framework that shows the business’ true profitability this will eliminate much of the time wasted haggling over the business’ value.It is a good idea to look at the situation with your debtors and reduce the amount of bad debt on your books. Buyers are weary of purchasing businesses where it seems the level of bad debt is too high or businesses where the customers take too long to settle accounts. You should use the preparation period to reduce the amount of bad debt and possibly restructure how certain accounts are paid.If you are determined to receive the best possible price for your business it is important that you take the time and effort to prepare your business for sale otherwise you risk leaving money on the table. A poorly prepared business is rarely sold so it is important not to cut corners during this period.If you thinking about selling your business contact http://www.sellandexit.co.uk today

One of the most durable types of floors that you can put down on any solid surface is an epoxy floor coating Sydney. These are typically made from some type of polymer, yet they can be made from materials such as plastic, paint, or other adhesive materials. Derived from epoxides, these polymers are designed for maximum durability and resistance to wear and tear. Here is an overview of why you should consider epoxy floor coatings for your business, regardless of the industry that you are in.

Where Are These Materials Typically Used?

These materials can be used in many different commercial and industrial settings. If you have a warehouse or a storage facility that is quite large, this would be the best material to use. In most cases, this is applied over concrete flooring. The adhesive and the concrete will chemically bond together to maintain its overall resilience. This will make the floor much more durable, resistant to scratches and dents, plus it can withstand heavy loads that are often found in commercial warehouse settings.

How Is This Material Applied?

This material can be applied in several different ways. However, preparation must be done prior to the application. It is recommended that the surface material be somewhat porous and completely free from particulate material such as dust or sand in order to have a strong connection. For epoxy to adhere to any surface, there must be a fully cured material, such as concrete which is the main material upon which these epoxy coatings are applied. Once the floor has been cleaned and made rough to some degree, it can be applied within hours. Additionally, the temperature must be suitable for this application. If it is too hot, or too cold, the epoxy can subsequently peel up or it may actually bubble during the application process.

Why Is This An Advantageous Surface Coating?

There are several reasons why commercial and industrial companies will use this material. First of all, it has a very appealing appearance. You can get a very high gloss reflective appearance if it is applied properly and maintained over time. It is also extremely durable and easy to install. It is this combination of durability, and its ability to resist stains caused by oil and water, that makes this the most appropriate material to use. Ideally, the epoxy that you apply should also be chemically resistant which is perfect for many industrial businesses that work with many chemicals.

If you are in an industry that requires the use of a warehouse, you will certainly want to consider this type of floor application. Epoxy floor Sydney coatings are also economical to apply, and also maintain, which is yet another reason thousands of businesses apply this to their floors all across the world. If you happen to be in Sydney Australia, you can contact our business to get a quote on how much this will cost. Our goal is to provide local businesses with the best floor coating materials, and epoxy floor coatings are among the very best.