10 Essential Considerations When Selling Your Business | Gaylor Tachauer & Associates

Skip to main content

Book a meeting Client login

menu

10 Essential Considerations When Selling Your Business

IG PRIVATE WEALTH MANAGEMENT | Oct 9, 2024

Categories

Lifestyle

Selling a business is a significant decision, often marking the culmination of years, if not decades, of hard work, perseverance, and dedication. The process can be complex and emotionally charged, and being well-prepared is key to ensuring a smooth transition and achieving the best possible outcome. This article will provide a detailed checklist to help guide medium-sized business owners through the necessary steps in preparing for the sale of their business.

1. Begin Planning Early

Planning for a business sale should ideally begin years before the actual sale. This involves understanding the market, grooming potential successors, and positioning your business to be attractive to potential buyers. This also includes getting your financials in order, improving business operations, and resolving any potential legal issues.

2. Understand Your Business's Worth

It is critical to have an accurate understanding of your business's value. You may wish to employ a professional business valuator or use industry multiples as a starting point. Be prepared to justify your valuation to potential buyers.

3. Get Financials in Order

Buyers will want to see well-organized, clear financial statements going back several years. Ensure your profit and loss statements, balance sheets, and cash flow statements are up to date and accurate.

Contact

Gaylor Tachauer & Associates
416-645-5191
GaylorTachauer@igpwm.ca

IG Wealth Management Inc.
Mutual Fund Division

Connect

Subscribe to our team newsletter

Location

401 - The West Mall, Suite 100
Etobicoke, ON M9C 4Y5

_{Mutual funds and investment products and services are offered through the Mutual Fund Division of IG Wealth Management Inc. (in Quebec, a firm in financial planning). Additional investment products and brokerage services are offered through the Investment Dealer, IG Wealth Management Inc. (in Quebec, a firm in financial planning), a member of the Canadian Investor Protection Fund.}

_{Insurance products and services distributed through I.G. Insurance Services Inc. (in Québec, a Financial Services Firm). Insurance license sponsored by The Canada Life Assurance Company (outside of Québec). Mortgages are offered by Investors Group Trust Co. Ltd., a federally regulated trust company, and arranged by nesto inc. Licences: Mortgage Brokerage Ontario #13044, Saskatchewan #316917, New Brunswick #180045101, Nova Scotia #202507230; British Columbia, Alberta, Manitoba, Newfoundland/Labrador, PEI, Yukon, Nunavut, Northwest Territories. Mortgage advisors are licensed professionals and equivalent to the following titles per province: Sub Mortgage Broker/Mortgage Broker in British Columbia, Mortgage Associate/Mortgage Broker in Alberta, Associate/Mortgage Broker in Saskatchewan, Salesperson/Authorized Official in Manitoba, Mortgage Agent/Mortgage Broker in Ontario, Mortgage Associate/Mortgage Broker in New Brunswick, Associate Mortgage Broker/Mortgage Broker in Nova Scotia, or Mortgage Broker in Newfoundland & Labrador.}

Conditions of Use | Privacy | Disclosures

Proudly Canadian

© 2026 Gaylor Tachauer & Associates. All rights reserved.