Exits, sales & succession
Sell your business once. Sell it right.
Most owners sell one business in their lifetime - often to a buyer who has bought ten. Selling a business in Australia is a valuation question, a tax question, a timing question and a people question, all at once. Here's how the whole thing works, and the team that sits on your side of the table for every part of it.
Personally led by James Webb and Chris Tinta - confidential from the first conversation, including from your own team.
1,000+
five-star Google reviews across LINK
2012
advising Australian owners since
9
specialist teams around one deal
2
directors personally on every exit
First, the honest question
Should you sell at all?
"Should I sell my business?" has three honest answers, and the right one depends on what the business is worth today, what it could be worth prepared, and what you need the money to do. Working through that - before anyone lists anything - is the first conversation.
Sell to a buyer
A trade buyer, a competitor, an investor. The cleanest exit and usually the best price - if the business runs without you and the records survive due diligence. Best when the business is genuinely transferable and the market is paying.
Succession - keep it in the family (or the team)
Hand over to family, sell to your managers, or sell down to employees over time. Slower money, but you choose the successor and the legacy. It only works when it's run as a real transaction - market valuation, real contract, tax planned on both sides.
Not yet - build value first
If the readiness work would add more to the price than the market will pay today, the profitable answer is a two-year value plan with a sale at the end of it. This is the answer nobody selling services likes giving. It's also frequently the right one.
The number
What's your business actually worth?
Most established small businesses in Australia change hands at roughly 1.5 to 4 times adjusted annual profit. Micro businesses - where the owner is most of the machine - often sell below that range, priced closer to one or two years of owner earnings. Strong, systemised businesses with $1m+ profits sell above it. The range is wide because the multiple isn't really about your industry: it moves on transferability, customer concentration, profit trend, and how much of the business is you.
"Adjusted" is where sale valuations are won and lost. Buyers price off normalised profit: the reported number, with one-offs removed, a market salary included for the work you actually do, and personal costs running through the business added back. Three years of clean financials with defensible add-backs is the difference between a multiple a buyer accepts and one they argue down.
Honest limit: no page can value your business - and neither can a calculator. A bankable valuation is built from your actual normalised numbers, which is where Link Advisors start. The tools below get you a rough bearing in a few minutes.
The three methods
- Earnings multiple. Adjusted profit × a market multiple. How most trading businesses are priced.
- Asset value. What the plant, equipment and stock would fetch. The floor price, and the method for asset-heavy or low-profit businesses.
- Industry rule of thumb. Cents per dollar of fees, multiples of weekly sales. Useful sanity checks, dangerous as the only number.
"+ SAV", decoded
SAV means stock at valuation: the buyer pays the quoted price plus the stock on hand, counted and valued at settlement. "$500,000 + SAV" is not a $500,000 deal if there's $120,000 of stock on the shelves.
What you'll actually keep
The tax on selling - where good advice pays for itself.
The sale price is a vanity number; what clears after tax is the real one. A business sale is usually a capital gains tax event - and Australia's small business CGT concessions are among the most generous exit rules anywhere, if your structure and timing let you reach them.
The 50% CGT discount
Individuals and trusts that have held the asset for more than 12 months generally halve the taxable gain before anything else is applied.
The small business CGT concessions
For businesses with aggregated turnover under $2 million or net CGT assets under $6 million: the 15-year exemption (potentially zero CGT), the 50% active asset reduction, the retirement exemption (up to $500,000 per person, lifetime), and the rollover. Stacked in the right order, eligible owners keep substantially more of the price - sometimes all of it.
GST: the going concern exemption
Sold as a going concern - a running business, with everything needed to keep it running, to a GST-registered buyer, agreed in writing - the sale is typically GST-free. Paperwork done wrong here adds 10% to the deal for nobody's benefit.
The catch: structure and timing
The structure you sell from decides which concessions you can reach - and it has to be in place well before the contract, not the week before. Eligibility is technical, the tests are unforgiving, and earnouts and vendor finance change when tax lands. This is modelled before you list, or it's modelled too late.
Honest limit: the paragraphs above are the map, not the advice. Whether your sale reaches the concessions depends on your entities, your ownership history and the asset mix - Chris's team at Link Advisors models it against the actual legislation before anything is signed.
Go deeper
The small business CGT concessions, in full.
Eligibility, the order of operations, the five traps - and the worked example from an $800,000 gain to zero tax.
The process
How selling a business works, step by step.
From going to market to settlement commonly takes six to twelve months. The preparation before that is where the price is made.
- 01
Get exit-ready
Ideally 12-24 months outFix what a buyer will discount: owner dependence, customer concentration, undocumented processes, personal costs running through the books. Every month of this work is worth more than a month of negotiating later.
- 02
Value it, and set your number
2-4 weeksA valuation built on three years of normalised financials - and, working backwards from tax and debts, the number you actually need to walk away with. That number decides whether you sell now or build for two more years.
- 03
Get the structure and tax right
Before anything is signedThe structure you sell from decides which CGT concessions you can reach, and it has to be in place well before the contract. Modelled properly, eligible owners keep substantially more of the price - sometimes all of it.
- 04
Find the buyer
2-6 monthsA broker, your industry network, or a direct approach to the obvious acquirer. Brokers typically charge 5-10% of the sale price and earn it on reach and screening - and you can also run the sale yourself; business.gov.au publishes the compliance steps free. We help you pick the route, not just take one.
- 05
Due diligence and contract
4-8 weeksThe buyer's accountant verifies everything you've claimed; the lawyers turn the deal into a contract - price, SAV, restraint of trade, employee entitlements, conditions. Clean records make this fast. Surprises found here cost more than they would have cost to fix.
- 06
Settlement and handover
2-6 weeks, plus transitionFunds move, staff entitlements transfer or pay out, GST going-concern paperwork is finalised, and you work the agreed handover period. Then the second half of the job starts: making the proceeds fund whatever comes next.
Succession
Not selling to a stranger? Succession is still a sale.
Business succession planning - handing over to family, selling to your managers, or selling down to employees over time - fails for one reason more than any other: it's treated as a family arrangement instead of a transaction. The transfers that work are run commercially: a market valuation both sides accept, a real contract, finance the successor can actually service, and the tax position modelled for both generations.
Start two to three years before you want to be out. That's the runway a successor needs to grow into the seat, a management buyout needs to be financed - often part bank, part vendor finance, paid from the profits of the business itself - and your CGT concession eligibility needs to be positioned. The 15-year exemption and the retirement exemption apply to family and management sales exactly as they do to open-market ones.
Vendor finance deserves its own caution: leaving part of the price in the business as a loan can bridge a good deal, and it means your money stays at risk in a business you no longer control. Structure it like the bank would, or don't.
The three succession routes
- Family transition. The next generation buys in or inherits control - with the valuation and the tax done properly so Christmas lunch survives it.
- Management buyout. The people already running it buy it. Fastest handover, cleanest culture continuity, and it lives or dies on the finance structure.
- Staged sell-down. Equity moves over 2-5 years while you step back gradually. Lower risk for both sides; needs a shareholders' agreement with teeth.
Who you'll deal with
Two directors on your side of the table.
An exit is not a job to hand to whoever is free. At LINK, business sales and succession are led personally by two of the group's founders - and every conversation is confidential from the first phone call.
James Webb
Co-Founder & Director
James co-founded LINK in 2012 and has built it into a nine-team group. On an exit he works the value side: what makes a buyer lean in, what the brand and the growth story are worth, and how to run the process so the business you spent a decade building is presented like it.
Chris Tinta
Co-Founder & Director
Chris is a chartered accountant and leads Link Advisors. On an exit he works the numbers side: normalised financials a buyer can't argue with, the structure that reaches the CGT concessions, and the model that shows what you'll actually keep under each version of the deal.
And the specialists we don't employ. Where a deal needs a business broker, an M&A adviser or a transaction lawyer, you'll be introduced to people we'd use ourselves - the same way LINK's trusted network already works for law and insurance. We stay across the deal either way, so the valuation, the tax and the contract never stop talking to each other.
The LINK difference
Every part of the deal, one conversation.
A business sale usually means an accountant in one office, a planner in another, a broker in a third - none of them talking. Inside LINK the deal team already works together, so nothing is lost in the handoffs.
Structure, valuation groundwork and the CGT concessions - the difference between the price and what you keep.
Meet Advisors →The day-after plan: where the proceeds go, super contributions from the retirement exemption, and the income they produce.
Meet Wealth →Deals move when finance moves - buyer funding, refinancing debt out of the business, and structuring vendor finance safely.
Meet Advance →Clean, reconciled, current books - the data room that makes due diligence short and keeps the price where it started.
Meet Books →A brand and web presence that looks worth the asking price. Buyers judge the cover before they read the book.
Meet Creative →A team that stays through a sale is an asset on the contract; one that leaves is a price reduction. Retention, planned early.
Meet Culture →Where do you stand?
The Exit Readiness Check.
Ten questions covering the same ground a buyer's accountant will: whether the business runs without you, whether the numbers hold up, whether the value transfers, and whether you know your own plan. Your score shows straight away.
How sale-ready is your business? Score it in two minutes.
10 questions. 4 areas. One honest score.
The same ground a buyer's accountant will cover in due diligence - owner dependence, the numbers, transferability and your own plan. Your score shows straight away. No sign-up to see it.
Free. Confidential. Nothing leaves your browser until you choose.
Good questions
Selling a business, answered straight.
How much is my business worth to sell?＋
Most established small businesses in Australia change hands at roughly 1.5 to 4 times adjusted annual profit, with micro businesses often below that range and strong mid-sized businesses above it. The multiple moves on transferability, customer concentration, profit trend and how involved you personally are - often more than on the industry itself. A bankable number needs three years of normalised financials, which is exactly where we start.
How long does it take to sell a business in Australia?＋
Commonly six to twelve months from going to market to settlement, and preparation before that adds more - the best-prepared sales start 12 to 24 months out. Well-priced businesses with clean records sell faster; owner-dependent or poorly documented ones sit on the market or sell at a discount.
Can I sell my business without a broker?＋
Yes. There is no legal requirement to use a broker, and business.gov.au sets out the compliance steps for a DIY sale free of charge. A good broker earns their fee - typically 5-10% of the sale price for small businesses - through buyer reach, screening and negotiation. Where a broker makes sense, we introduce one we'd use ourselves; where your buyer is already in your industry network, you may not need one.
What does SAV mean in a business sale?＋
SAV stands for stock at valuation. A price quoted as "$500,000 + SAV" means the buyer pays $500,000 for the business plus the value of the stock on hand, counted and valued at settlement. It stops the price being wrong simply because stock levels moved between contract and handover.
What tax do I pay when I sell my business?＋
A business sale is usually a capital gains tax event. Individuals and trusts that have held the asset over 12 months generally receive the 50% CGT discount, and eligible small businesses can also access the small business CGT concessions, which can reduce the tax substantially - sometimes to nil. GST typically doesn't apply where the sale qualifies as a going concern. Eligibility is technical and depends on your structure, so it needs to be modelled before you sign anything.
What are the small business CGT concessions?＋
Four concessions for businesses with aggregated turnover under $2 million or net CGT assets under $6 million: the 15-year exemption (potentially no CGT at all if you've owned the business 15+ years and are 55 or over and retiring), the 50% active asset reduction, the retirement exemption (up to $500,000 per person over a lifetime, paid into super if you're under 55), and the small business rollover. They can be combined, and the order they're applied in matters.
When should I start planning my exit?＋
Two to three years before you want to be out is the realistic runway - enough time to fix owner dependence, clean up the financials and get the structure right for the CGT concessions. The minimum useful runway is about 12 months. Planning started the week you list mostly just documents the discounts a buyer will apply.
What will buyers ask for in due diligence?＋
Three years of financial statements and tax returns, BAS lodgements, the premises lease, customer and supplier contracts, employee entitlements and agreements, equipment lists, any IP registrations, and evidence the business runs on documented processes rather than on you. If any of those would take you weeks to produce, that's the preparation list.
What if the business can't run without me?＋
Owner dependence is the most common reason a good business sells poorly - a buyer who sees everything routed through you is buying a job, not a business, and prices it that way. It's also fixable: documented processes, a capable second-in-charge and customer relationships held by the business rather than by you personally. That work usually returns more per hour than anything else on the exit list.
How do I keep a sale confidential?＋
Serious buyers sign a confidentiality deed before they see anything identifying, the business is marketed anonymously ("established trade services business, northside Brisbane"), and staff, customers and suppliers are told at the time you choose - usually at or near settlement. Every conversation with us is confidential from the first phone call, including from your own team.
Proof
The team behind the advice, in clients' words.
Professional, responsive and clear in their communication, with a well-structured approach to tax planning and business accounting advice. Their advice gives me confidence that matters are being dealt with accurately and efficiently.
The skill and professionalism shown by LINK is unmatched. Not only are they amazing at what they do, they are also super approachable throughout their process. The Google ads team tripled our leads overnight and we couldn't be happier.
Rented my vacant property in less than a week after my last agent couldn't find a tenant in over 3 weeks. The team at LINK Living go above and beyond for all of their clients.
They take time to analyse the business, explain financial decisions in plain language, and implement the correct procedures. Their proactive guidance has given me confidence I haven't had in 30 years of running a business.
Alex, Josh & the team at Link have been fantastic with setting up my business advertising through Google. Their advice & expertise has been amazing and continuous support has helped me achieve my goals.
We've been using LINK for our accounting and bookkeeping for a few months and are very happy with the service they provide. They are great to work with!
Within 48 hours of our family home being advertised, Brad had secured several inspections. His passion and professionalism were evident from the first meeting.
They spent the time to understand my circumstances and gave me relevant advice. I could tell they didn't see me as a number they could add to their books.
Link helped us recreate our brand, amazing working with the team highly recommended. Epic experience and loved the end result.
Great people to work with. They are informative and kept me up to date throughout the whole process. They made marketing and SEO sound easy, and I am very happy with the results.
Their seeming lack of interest at our old agency had us wondering what we were paying for. Then we met Brad from LINK Living and have never looked back. Proactive, sorting out any problem before it becomes an issue.
One conversation, before anything else happens.
Where the business sits today, what it could sell for prepared, and what you'd keep. Confidential, director-level, no obligation - whether your exit is next year or next decade.