Would you call a Dentist to sell your business?
Dentists provide an essential service and help maintain good dental health. Accountants provide an essential service for your financial reporting needs and meet CRA requirements. So why would you call your accountant to help sell your business?
It is astounding to discover that a number of business owners have a very narrow range of professional business relationships, often resulting in a default decision to use their accounting firm. While the larger accounting firms do have M&A knowledge – they simply lack the marketing “know-how” to create a competitive bidding environment for the effective sale of businesses. In addition, accountants lack the negotiation expertise necessary to facilitate the best value offering for the client. Going down this path is not only expensive; it also results in an outcome that leaves a substantial amount of money left on the table that should have been in the sellers’ pocket.
Savvy business owners know that a professional M&A (merger and acquisitions) firm will have the track record and expertise to not only put the “deal together” – moreover, they will have the industry connections and marketing “know – how” to enable a satisfactory outcome.
It takes a team to put the deal together: Accounting firm, M&A advisors, Lawyer, Tax planner are all essential elements to achieve deal success.
After decades of building your business, make sure to call to an M&A professional to develop an effective exit plan and get the job done effectively.