Can Selling Your Business give you More Time for Life?
hey say money can’t buy happiness… but it sure can buy you things that make you happy. But the acquisition of money is often a very time-consuming thing. I have lost count of the number of business owners who have come to me saying, “I have a successful business, but no time to enjoy the proceeds.” Long days in the office, lost weekends dealing with urgent issues, and holidays spent with one eye firmly on what is happening back at home, eventually take their toll.
Because you are so busy with running your business, you have probably engaged a wealth manager to help look after the money that you are generating. If you haven’t then I strongly suggest you do. But the real value of having a wealth manager is in helping you turn the tables and instead of working for money, make money work for you!
This is where an exit strategy for your business comes in. If you are reading this then the chances are you have a successful business, but it is also likely that it doesn’t quite hold the same thrill as it used to, when time was just a four-letter word. Selling a business can help you realise value and walk away, which may just be the opportunity to “buy” back the time you crave. Time with friends and family, time to perfect that golf swing, time to travel, time to do all of those things you have been putting off for years.
If that sounds like you then here are a few things you might want to consider:
- Start slowly – even if the will is there, unhooking yourself from a business is not an easy process, so give yourself time. Look to promote from within, bring in a good lieutenant who can start to take on some of the responsibility and attend some meetings on your behalf. You may also want to consider allocating yourself some personal days in the diary, where all staff know you are not to be disturbed – there is very little, after all, that cannot hold for one day!
- Seek wealth management advice – I have already suggested strongly that if you don’t have one, you should engage with a wealth manager. It makes a lot of sense, and they are well placed to help you understand how much cash you actually need, to lead the life you want to live.
- Explore the sale process with Entrepreneurs Hub and gain practical insight into how to sell your business for maximum value. When you’re ready, we’d be happy to meet with you for a confidential conversation about your next steps.
There is a phrase you may be familiar with – money rich, time poor! If that resonates with you then I would encourage you to take some action. You may not be able to buy back time you have lost, but what you do with the time that is in front of you is in your hands.
If you are ready to sell, but you suspect your business is not then don’t give up. Entrepreneurs Hub are business brokers with a difference. We are not just interested in taking your business to market, we are interested in taking your business to market in the best shape possible and as a result maximising value. We work with business owners to prepare their business for sale, however long it takes.
Why don’t you get in touch and we would be happy to meet with you, in strict confidence, to discuss your situation.
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FAQs – Selling Your Company
How do I sell my business in the UK?
Selling a business in the UK typically involves preparing financial information, obtaining a valuation, identifying suitable buyers and negotiating the terms of a sale. Most owners work with an M&A adviser to manage the process confidentially, approach qualified buyers and maximise the value achieved.
At Entrepreneurs Hub, we talk about five key areas that make the difference between success and failure when selling your business. Read more…
What is my business worth?
A business is typically valued by applying a multiple to its sustainable profit, often EBITDA or adjusted net profit. The appropriate multiple depends on factors including growth, recurring revenue, customer concentration, management strength, owner dependency, market conditions and buyer demand.
Determining what your business is worth involves more than applying a simple formula. Use our Business Valuation Calculator to obtain an initial valuation range, or read our simple business valuation guide to understand the factors buyers consider.
How long does it take to sell a business?
Selling a business in the UK typically takes 12 to 18 months from initial preparation to completion, although the formal sale process itself may take around 6 to 9 months once the business is ready to go to market. The exact timeframe depends on factors such as how prepared the business is, buyer demand, the complexity of the transaction, due diligence and how quickly legal and commercial terms can be agreed. Preparing financial information, contracts and other key documents in advance can help reduce delays and make the sale process more efficient. Read our complete business sale timeline to see what happens at each stage.
When is the best time to sell a business?
The best time to sell a business is usually when it is performing strongly, has clear growth potential and you are not under pressure to complete a deal. Buyers are typically more attracted to businesses with stable or rising profits, reliable financial information and credible opportunities for future growth.
You may be in a stronger position to sell when:
- Revenue and profits are growing or consistently strong.
- Financial records are accurate and up to date.
- Future growth opportunities can be clearly demonstrated.
- The business is not overly dependent on you.
- An experienced management team is in place.
- You have prepared for the sale well in advance.
Market conditions can also influence buyer appetite and valuation. Sector growth, access to finance and competition between buyers may support stronger deal activity. However, the performance and sale-readiness of your business are usually more important than trying to identify the perfect month or year to sell.
Ultimately, the right time to sell is when both you and your business are ready, and the company can demonstrate sustainable performance, manageable risk and future value to potential buyers.
Use our Exit Readiness Assessment to assess how prepared your business is.
Do I need an adviser to sell my business?
You are not legally required to use an adviser to sell your business, but many owners appoint an experienced M&A adviser to help manage the process. An adviser can prepare the business for sale, identify and approach suitable buyers confidentially, coordinate negotiations and support the transaction through due diligence.
The right adviser can also help create competitive tension, protect your time and reduce the risk of avoidable mistakes. Read our guide to choosing the right business sale adviser to understand the different types of support available.
How do I prepare my business for sale?
Preparing a business for sale involves strengthening its financial performance, reducing risk and making sure it can operate successfully without heavy reliance on the owner. Buyers will also expect accurate financial records, clear contracts, organised documentation and evidence of future growth.
Preparation should ideally begin well before approaching the market, giving you time to address weaknesses that could affect value or delay the transaction. Use our Exit Readiness Tool to assess how prepared your business currently is.
How is confidentiality protected during a sale?
Confidentiality is protected through controlled information sharing, anonymised buyer approaches and non-disclosure agreements. Potential buyers usually receive limited information at the start of the process and must sign an NDA before commercially sensitive details are released.
Prospective buyers should be assessed before receiving further information, with documents shared gradually according to their level of interest and credibility. A well-managed process also allows the business owner to retain oversight of who is approached and what information is disclosed.
What documents do I need to sell my business?
The documents needed to sell a business commonly include financial accounts, management information, forecasts, customer and supplier contracts, employment records, tax information and evidence of intellectual property ownership.
Buyers may also request details of property, insurance, legal disputes, regulatory matters and company ownership. Organising this information before due diligence begins can reduce delays and help maintain buyer confidence. Our Business Sale Due Diligence Checklist explains the main information buyers are likely to request.
What’s the quickest way to sell a company?
Selling a business quickly is possible, but speed shouldn’t come at the expense of value or deal security Read more…
What’s the best way to sell a business online?
Yes, you absolutely can sell a business online. Many platforms specialise in connecting business sellers with buyers. Read more…
How can I increase the value of my business before selling?
You may be able to increase the value of your business by improving sustainable profits, developing recurring revenue and reducing reliance on individual customers or the owner. Buyers also value capable management teams, reliable financial reporting, scalable operations and clear opportunities for future growth.
The earlier you identify the factors affecting value, the more time you have to make meaningful improvements. Use our Business Valuation Calculator for an initial indication of value and our Exit Readiness Tool to identify areas that may need attention.