Nov 6, 2020
📽 Watch our other video on What To Do Before You Sell Your Business In Canada: https://youtu.be/2eUgTP9Sj9Q
*How To Prepare Selling Your Business*
1) Get Your Ducks Lined Up In A Row AHEAD Of Time. Start Early On The Planning
2) Emotional Attachment and Financial Expectation
- Are you emotionally ready as a business owner?
- How do you want to deal with the sales proceeds?
- How are you going to replace your income once you've sold the business?
3) Business Evaluation
- Depends on type of business
- Multiples differ from industry to industry
- Have a professional help you
4) Do The Math - What's A Fair Multiple Of Earnings For Your
- Real Estate
- Brand Value
- Cash Flow
5) Expectations of Private Company vs Public Company
6) Tax Implications
- Take advantage of your business
- Small Business Capital Gains Exemption
- Tax exempt opportunities
- Asset sale vs share sale
- Purifying the corporation / purifying the books
- What does your business own? Brand, Assets, Trademarks, Real Estate, etc.
7) Will you stay on board for a period of time to insure smooth transition?
📽 Watch our other video on Dividends vs Salary: https://youtu.be/W1hov_bYzLw
For more information on Rob & The Tetrault Wealth Advisory Group, click here: https://robtetrault.com/about/