Planning for your eventual exit from a business is one of the most important strategic decisions you’ll make as an owner. Whether you're aiming for a full sale or a partial step back, the process requires careful thought and long-term preparation.
Andrew Silk, Associate Director at Bevan Buckland, explores why early exit planning is essential, outlines the key steps to making your business attractive to buyers, and explains how following the correct process can help you navigate the journey with confidence
Long-term Planning – It is Important to Fix Your Exit Date
Exit planning isn’t something to leave until the last minute. Businesses need to think about it well in advance — starting years before their desired exit. It also helps to be clear about when you’d personally like to sell, and whether that will be a complete exit or if you still want to be involved in the running of the business.
By fixing that target date and then working backwards, we can advise when we should begin marketing your business and approaching potential buyers.
Understanding your Potential Buyers
There are several broad categories of potential buyers, and the most suitable option will depend on the nature of your business, the sector you operate in, and your growth story to date.
At Bevan Buckland, we use an Exit Route Map to help you explore each of these options in detail. Common buyer types include:
- Family succession – Passing the business on to the next generation, which brings both tax implications and succession planning considerations.
- Trade buyers or financial institutions – These may include competitors, suppliers, or complementary businesses looking to grow through acquisition, as well as equity investors seeking strong growth opportunities.
- Individuals or management teams – This could involve your existing employees or external parties who are interested in running an established business rather than starting from scratch.
Each route requires tailored preparation—from governance and tax planning to crafting a compelling commercial narrative. We also provide insights into how the market is evolving across these buyer groups, helping you assess which path is most aligned with your goals and most likely to deliver value.
How Long Does the Process Take?
The process often takes longer than expected. A straightforward sale can take 6–12 months once you’ve started the marketing process, but that doesn’t include the years of preparation that make your business truly attractive to buyers.
The length of time depends on:
- The buyer pool you’re targeting
- The readiness of your financial and operational records
- The wider M&A market climate
We will provide you with a timeline of the Deal Process that clearly outlines all the steps from Exit Planning to Post-Completion, allowing you to see how the transaction evolves through each stage.
Rushing the process rarely benefits you. Allowing sufficient time for proper preparation and executing a controlled competitive process will help you achieve a stronger valuation and better deal terms.
Finding the Right Buyer
So how do we actually find them? The process isn’t as simple as listing a business for sale and waiting for offers. A purposeful approach is essential:
- Understand your market – whether individuals, trade buyers, private equity, or family offices, each has different motivations.
- Run a structured process – identify multiple candidates, tell a clear story about your business, and manage confidentiality carefully.
- Use the right professionals – from M&A advisers to corporate lawyers, who know how to manage the process with selective marketing and sensible advice, the team around you will help shape the success of the deal.
As part of The Corporate Finance Network, we have access to market-leading databases and networks, which will identify the potential parties who may wish to explore the opportunity to acquire your company.
I’ve been Approached by a Buyer – why do I need to go to market?
It’s exciting when someone expresses interest in purchasing your business, but don’t let that flattering approach rush your decision. Going to market is important for several reasons:
- Valuation protection – if only one party is at the table, they set the terms. A competitive process ensures you achieve a fair market price.
- Negotiation leverage – multiple interested buyers can help improve both value and deal structure.
- Risk management – if that one buyer withdraws late in the process, you may have lost valuable time and momentum.
- Finding the best cultural fit – the first interested party may not be the right long-term custodian of your business, your team, or your clients.
Exploring the market doesn’t always mean dozens of conversations. It means running a controlled process that gives you options, so you can be confident you’ve chosen the best exit for you and your business.
Final Thoughts – What Should my Next Steps be?
Selling a business is one of the most significant milestones in your career—and possibly your life.
With proper planning, the right advice, and ample time, you can ensure that you not only find a buyer but also the right buyer, securing terms that reflect the value of everything you’ve built.
For an exploratory conversation about how we can assist you and the steps you should take, please get in touch with our team by calling 01792 410100 or by sending us an email.
