Are you considering sell a business? Then choosing a suitable corporate finance adviser is an important step. Sell a business is a complex process where mistakes can have major consequences.
With the right guidance, you increase the chances of a successful and smooth transaction. In this expert contribution, we therefore share tips for finding the ideal adviser for your business sale.
Personal click is essential
In addition to rational criteria, the personal click plays a crucial role. A business transfer is not only a business matter, but also an emotional one. During this process, your adviser is not only a strategic partner, but also a person of trust. A good click and mutual trust make it easier to make difficult decisions.
Experience with corporate sales
An experienced corporate finance adviser knows the playing field and is alert to pitfalls. Inquire about the adviser's background and expertise and verify that corporate sales are at the core of his or her work. A financieel adviseur or accountant who does corporate sales only as a sideline may be less suitable. Request references and contact previous clients to gain insight into their experiences.
Specialization in your sector
Every business is unique, and the same goes for corporate finance advisers. Choose a specialist with experience in your sector and company size. For example, the approach to a medium-sized family business differs greatly from that of a publicly traded company. An adviser who understands your market well can identify better buyers and guide a more effective sales process.
Taking a critical look at the moment of sale
A good adviser critically assesses whether the right time has arrived for the sale. He or she does this from two angles: your personal situation as an entrepreneur and the company's readiness to be sold. By asking the right questions, the adviser helps determine whether additional preparations are needed before the sale can begin.
Clear step-by-step plan
An experienced adviser works with a structured step-by-step plan. One of the first stages is to collect and organize relevant business information. This is essential for an accurate valuation and drafting a sales memorandum.
Cost structure of the adviser.
While the cost of an adviser is an important factor, the right match is more important. The best adviser will help you achieve the optimal sales price, which can yield a higher return than a cheaper but less suitable adviser. Costs typically consist of a retainer (fee based on effort) and a success fee (percentage of the sales price on a successful transaction).
Confidentiality and secrecy
A lot of confidential information is shared during a business transfer. Make sure your adviser handles this data with discretion and works with non-disclosure agreements (NDAs). This prevents risks and ensures confidentiality during the sales process.
Understanding potential buyers
An experienced adviser identifies all possible buyers. These can be strategic buyers, financial investors or internal candidates such as management. Sometimes alternative scenarios also arise, such as a pre-exit where you sell part of the shares and transfer the rest later. A good adviser explores all these options and helps you make the best choice.
Your interests are central
A professional adviser puts your interests first. Although a success-fee is an incentive to realize the highest possible sales price, other factors also play a role. Consider conditions such as an earn-out, non-compete clause and warranties. Make sure your adviser supports you broadly and doesn't just focus on the sales price.
Start with an introductory meeting
Choosing an adviser is a well-considered process. Therefore, plan several introductory meetings to determine who best suits you and your business. That way, you can make the right choice based on a personal click and substantive expertise.
