Sell your assets and close your business
If your business is in good financial health with good profits and strong cashflow, Tenfold can map out a plan for you to exit your business.
(*If your business is in financial distress, please see notes below)
The plans to realise the value of your assets and close your business will vary depending on the a few factors;
- The nature of your assets: tangible (such as stock, plant and equipment) vs intangible (for example patents, commercial contracts to supply, intellectual property and brand, distribution rights);
- The saleability of your assets; how transferable they are to other businesses, who potential buyers would be, the sell price you could achieve;
- Your timeframe to exit the business.
The advantage of selling your business in parts rather than as a whole is that you can often attract higher prices for standalone assets. Another advantage is that you can attract a wider range of buyers, which means more demand and increases the sell prices further.
Well-maintained and regularly serviced machinery, vehicles and equipment have seen an increase demand with the federal government’s extension to the instant asset write off provisions. The right planning can help you capitalise on this and other options when considering selling your business assets.
(*Please note: If your business is in financial distress, you’ll need to speak with an accountant or industry specialist who handles complex matters such as liquidation and administration. Tenfold is not able to provide advice for these matters. We recommend you speak with your accountant to ensure you comply with Australian laws.)
The biggest risk of selling your assets is not achieving the best sell price. It’s a risk that is most frequently inflicted on a business when the assets are being sold under time pressure. When you can’t control the timeframe, you can’t control the price. And that lack of control occurs when there isn’t a planned exit strategy.
Don’t risk being a price taker – talk to a Tenfold business expert today and make sure you stay in control of your financial future.
Call us: 03 9813 8777 . Alternatively, book a call back via the request form below.