Buyers want to know a business can work without its current owners and the best way to demonstrate that is with a systemized and procedure driven operation.
Arguably the best time to sell your business is when you know it can operate entirely without you – that’s when you know it’s been properly systemized.
Systems and procedures are absolutely key to a successful business. They are even more key to a successful business sale.
In an ideal world your business will have clear written procedures, processes and training – all documented and recorded.
This can be in written form or video tutorials (often quicker than writing long folders of documents).
It’s also vital to keep these updated.
If the business can run without you, then it’s a good buy for any investor or business buyer.