How much is enough?
We helped 2 business owners to prepare their business for sale. We showed them how much they needed to generate from the sale of the business so that they could have security in their future and make the most of their lives.
“Retirement is most agreeable – it’s so nice to be doing things that I find rewarding, and I find that at the moment I have no regrets and that Monday morning is met with a smile rather than a sigh!”
Steve McClure – Financial Planning client
A couple had been running their company for 25 years. They had built this into a large operation with 40 staff over 3 sites. They had been approached by a competitor who had made an offer for their business. Previously they had turned down offers, but now the time felt right to consider a sale.
They had a good idea of what the business was worth based on their accountant’s estimations. However, they didn’t want to sell for less than the business was worth.
How much is enough?
They wanted to make sure that they had enough money from the business sale to ensure that they never ran out of money in the future.
They were keen to take the hassle out of managing their money now and in the future so they could focus on living the retirement they had worked so hard for.
Business sale specialist
We introduced them to a business sale specialist, who worked with their accountants to prepare the business for a sale, and to build up interest in the company. This approach gave them a good idea of the market value for the company. They also focussed on getting the right fit for the company and their staff.
Calculated how much they needed
We showed them the amount needed to secure their desired future lifestyle.
This gave them a target for their negotiations. Once they received the right offer it was easy to accept since they were confident this would be enough.
Easy to understand position
Their plan meant they could easily understand their options. This allowed us to examine some scenarios and to explore ways to improve their position.
We showed them they could afford to buy an overseas holiday home and also give money to their children so that they could see the benefits of their hard work.
We created an investment plan to generate a flexible income to fund their retirement in a tax efficient way whilst taking the least risk necessary to achieve this.
Outcomes and Impact
Confidence to sell
Our approach gave them the confidence to accept an offer for their business when the time was right for them.
We also helped them to realise that they had more assets than they would need and therefore gave them the chance to improve their situation and also assist their children financially.
Each year we revise their financial plan so that we can react to any changes and re-assess whether they remain on target to meet their long-term goal of security.
We also examine their investment portfolio and aim to keep it on track towards its goals while taking the least risk needed to do so.