Day 10

Keep commitments to a minimum!

A buyer will almost certainly want to make changes to your business – relocating, for example, or maybe moving your operations into their existing premises.

So, if you just happen to have signed a new 10-year lease for your business premises this could well be a problem for a buyer. Generally speaking, the fewer long-term commitments your business has, the more control you’re allowing the buyer – and the more attractive that will be.

This principle extends to other potential commitments, too; other leases, for example, from vehicles right through to the water dispenser; the longer you’re tied in for, the less control the buyer will have.