Is Your Business Ready For Sale?

Before listing your business, step into the buyer’s shoes and ask:

“What would I criticise if I were buying this business?”

Addressing this could mean the difference between a quick, high-value sale and months of discounted offers.

Here’s a checklist to help you prepare and maximise your sale price:

1. Check Your Corporate Records

Incomplete or messy business records can make buyers nervous.
Ensure all documents are up to date, including:
- Company constitution
- Member and director registers
- Share transfers and resolutions
If your business operates through a trust, confirm the records correctly list the trustee and unit holders.
Tip: Conduct an internal “records audit” early — locate, update or recreate missing documents before listing.

2. Review Employment Contracts

Your team is one of your biggest assets — but only if it’s properly documented.
Missing or outdated contracts can raise red flags about:
- Employee entitlements
- Underpayment risks
- Legal compliance
Update and review all employment agreements, especially for key staff.
Include non-compete or restraint clauses where appropriate — they add security for buyers (and value for you).

3. Secure a Valid Lease

Your business location often drives value — protect it.
Common issues include:
- Expired leases
- No formal lease in place
Buyers won’t rely on a handshake deal.
Ideally, have a lease with:
- A short initial term (2–3 years)
- Several renewal options
Negotiate lease terms before your landlord learns you plan to sell — you’ll get better terms.

4. Protect Your Intellectual Property (IP)

Make sure you own what you’re selling:
- Business name
- Logo and branding
- Trademarks
Register your trade marks with IP Australia for proof of ownership.
Confirm your IP is owned by the correct entity (not you personally or a related company).
Map out your business and asset structure — even a simple diagram helps buyers and speeds up due diligence.

Final Tune-Up

Think of this as a “service” for your business before sale.
A tidy, well-documented business attracts more buyers, builds confidence, and commands a higher price.

Our advice:

Use this checklist to identify gaps early.
Seek professional help to fix issues and streamline your structure.
Aim to sell when your business looks its best — just like a polished car with full service records.