FYR048 How to Buy an Established Business and Plan for a Successful Exit with Craig West

Craig West breaks down how to buy an established business, how to value a business, and how to plan for a successful business exit. Craig West is the CEO and founder of Succession Plus which provides focused and strategic advice for SME business owners in business succession and exit planning. Craig is a successful entrepreneur who has helped over 600 business owners maximise the value of their business and achieve a successful exit. We live in a world that requires income and capital growth. Buying an established business offers the opportunity to achieve both goals, or maybe you are already a business owner and would like to know how much your business might be worth, or perhaps, now is the time to put your business up for sale and move to the next chapter in your life. If any of these topics resonate with you, then you will enjoy this episode as Craig breaks down the strategies for buying an established business, how to value a business and how to plan for a successful business exit. Timestamps: 0:00 to 1:27 Introduction. 1:28 to 3:00 Craig's story and journey into business. 3:01 to 7:00 What are the steps to buying an established business. 4:01 to 9:23 How to value an established business. 9:24 to 15:24 How to maximise the value of a business for an exit. 15:25 to 17:17 Key questions to ask when buying an established business 17:18 to 19:50 What are the costs and time when preparing for a business exit. 19:51 to 21:50 What does a business owner do after a successful exit. 21:51 to 25:15 Craigs closing thoughts and wrap up. Hope you enjoy and have a wonderful day. The FYR team. If you like this episode, please subscribe for weekly updates and insights, and don't forget to hit the share button. Guest Links & Resources: Visit Succession Plus: https://succession.plus/ Succesion Plus Twitter: https://twitter.com/successionplus Craig West Linkedin Profile: https://www.linkedin.com/in/craigwest/ Visit Fund Your Retirement: https://www.fundyourretirement.com/