Sierra Legal present to members and suppliers of VANA

Sierra Legal enjoyed giving a presentation this week at the Mornington Hotel to a group of newsagent owners, various suppliers to the newsagency industry and members of the VANA Ltd Board. Our presentation shared a few practical tips and traps in selling your business, including:

  • having the right corporate structure in place;

  • getting your backyard in order;

  • appointing your advisers early;

  • working out the best sale structure;

  • marketing your business;

  • using a term sheet before going to formal contracts;

  • allowing for due diligence by the purchaser;

  • getting drafting control of the transaction documents;

  • being wary of earn-outs;

  • being wary of warranties in the sale and purchase agreement;

  • minimising conditions precedent;

  • not losing focus on your business during the sale process; and

  • recognising that the deal isn't done until completion occurs.