You’ve built a great business, kept it running, kept people employed, and made a living doing it. Now, retirement is on the horizon. Whether it’s travel, family, or just a well earned break calling your name, selling your business is the key to funding that next chapter.

But if you want to sell your business for the best price, the work doesn’t end just yet. Getting your business into shape, so it looks solid, clean, and ready for a buyer to step into, is how you make sure all your hard work pays off.

Here’s how to prep your business for a smooth, valuable sale, even if you’re not working with a business broker.

Step 1: Make the Business Easy to Understand and Easy to Run

Buyers want something they can step into with confidence. They’re asking: “Can I run this business without it falling apart?”

You can make that answer “yes” by showing:

Clear day to day processes. Write down how things get done, like open up, inventory, key customer handling, etc.
Basic instructions. For common tasks or systems, even a simple checklist helps.
A solid team structure. Even if you’re hands-on, buyers want to see who handles what, and that staff are staying.

Pro tip: You don’t need a manager in place, you just need to show the business won’t rely solely on you to survive.

Step 2: Get Your Numbers in Shape

When you’re preparing to retire and sell your business, clean books are powerful. They show buyers your business is real, consistent, and worth what you're asking.

Make sure you’ve got:

Up to date profit and loss statements.
BAS and tax records in order.
Ideally, all sales run through the books. This will help maximise your sale price.

Clean financials make it easier to price your business accurately and help buyers get funding, which speeds up the sale.

Step 3: Sort Out Your Paperwork and Ownership

Buyers don’t want surprises. Before you list your business for sale, make sure:

You own your equipment and stock, or have lease agreements documented.
Your business name, domain, and branding are registered to the company.
Your lease, if you have one, has over 2 years left on it, options to renew, or the landlord is happy to assign a new lease to a new buyer when found.
Supplier relationships and key customer contracts are clear and transferable.

If your business looks clean, structured, and simple to take over, buyers will trust it, and pay more.

Step 4: Show the Upside

Even if you’re retiring, your buyer is just getting started. Help them see how they could grow it.

Mention any expansion opportunities you considered but didn’t pursue like adding online sales, extra services, or opening later.

Highlight recent wins like a new contract, a surge in Google reviews, or increased repeat business.

Show that the business still has momentum, and they can build on it.

Final Word from Sherpa

You don’t need to reinvent your business or run it under management to sell it well. You just need to:

Show that it’s stable and not chaotic.
Prepare for your sale.
Make it easy for someone else to understand and take over.

If you're looking to sell your own business, Sherpa gives you tools to manage it your way and get it sold.

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