Karl wrote Selling Your Canadian Business: A Step-by-Step Guide to Maximizing Value and Securing Your Legacy because he saw too many business owners making preventable mistakes that cost them millions of dollars and years of regret.
What a broad auction actually involves, and why an experienced intermediary running one to hundreds of buyers can catch risks an owner would never see coming alone.
Why an independent valuation, using more than one methodology, sets a realistic asking price and builds credibility with buyers and their lenders before you go to market.
Why a management team needs an independent valuation to price a buyout when an older generation of ownership decides to divest, and what the valuation actually covers.
A marketed sale can lift price 20 to 50 per cent over a single-buyer deal, while a direct acquisition closes faster but can settle 10 to 30 per cent lower. How to choose.
Only about 30 per cent of family businesses reach the second generation. The succession paths available when your children are not interested in taking over.