Kitchener - There will be a tsunami of businesses sold in the next 5-10 years. Hundreds of thousands of business owners are thinking about retiring but most don’t have a plan. “Those with a plan will have the advantage”, advocates Wayne A. Vanwyck, President of The Achievement Centre International.

He says, “Not being prepared – and having to sell - could cost you as much as 100% or more of your final business value. Some businesses are in that situation right now. Think of an auto-parts manufacturer who rejected an offer to buy in April 2008 because they weren’t ready. Some companies will simply close their doors.”

He goes on to suggest, “If you are thinking about selling your business in the next 5 years, you need to start now. Especially if the business still needs you personally to be successful.”

Vanwyck started The Achievement Centre (TAC) in 1984 and in 2008 he and his wife took a six month sabbatical. They travelled around North America interviewing entrepreneurs who had sold their business. Those interviews confirmed his belief that business owners – especially those of the boomer generation – need to prepare much further in advance in order to get the most value and least pain from exiting their business. “I heard some fascinating stories,” he said with a smile. “I learned that many of the actions owners needed to take to prepare their business for sale, we already were doing with our clients as we helped them grow their business. But now there’s a sense of urgency. Time is running out for a lot of owners.”

To sell for the most value, a business needs to run at peak performance for at least two or three years before it is sold. Timing is critical. Because you don’t know in advance when the best time is to sell, you need to be prepared to sell at any time.

So Vanwyck, the author of the bestselling book, Pure Selling, the ACCISS Sales Course and over 300 business articles created a program to help entrepreneurs prepare their business for sale at least 3-5 years in advance. Modeled on a combination of TAC’s successful sales and leadership programs and various peer advisory programs, it brings a small group of business owners together for regular learning meetings. With education as a backdrop, the focus is on taking small, practical steps every month that will get the business ready for sale on the owner’s terms.