For every business, there comes a point when it has to close its doors from serving its patrons, thank them for the support and move on to the next stage, whatever it is. And as in any business shutting down operations, valuation will be an unescapable part of the process, as this process determines how much a business is worth, if in any case it will be up for selling.
If the case is that the business will be up for sale, which is very likely, the business owner is going to want to have to increase the value of the business, which would also reflect on the selling price. Here are ways on how you can actually increase the value of your business. Note: It takes a lot of time.
- Increase its profitability.
No-brainer. A company that is highly profitable will definitely attract a lot of potential buyers, mostly owners of companies that are already established in their respective industries. But if there’s a way to show them that your profits are still going up, there’s no reason for them to bargain on buying your company. In fact, they might even offer a higher price to pay. All you have to do is to boost your profits before a sale happens.
- Tell why your products and services matter.
As if this isn’t the job of marketing, you know you’ve been doing this ever since your product existed. But this time around, you’re not talking to consumers. You’re talking to potential buyers of your business. Show them why they should have a fuss over buying your business. Make them worry if they won’t be the one to buy it. Make them feel that your products and services have the chance to dominate the market. In short, show them that there is a high demand for your product, through its unique selling point.
- Make your headquarters visually appealing.
First impressions last, and even though they can change overtime, you definitely don’t want to make a bad first impression to prospective buyers by letting them see that your office is a mess. Organize everything, tidy things up. It may not seem like much but showing that you have a clean and organized office is quite a way to make a statement, showing them that you can keep things in order despite the busy work operations, and that even the littlest of things are handled.
Valuation indeed plays a vital role in the closing of a business’ doors and the possible reopening of its windows. If you need assistance with valuation, don’t hesitate to call us. Aviso Valuation & Advisory will help you go through the valuation process without much ado.
