Advice on selling my business
- Thread starter JKD00
- Start date
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skymark
Lisamarie
You can either sell through a business transfer agent who will usually sort out the advertising for it, just like an estate agent or you could advertise it privately.
Businesses For Sale UK - Sell or Buy a Business for Sale is usually a popular place to advertise, and a lot of agents advertise there.
By doing it privately you will dodge some costs of agent services but will still incurr fees.
I would suggest that if you are selling the business as a sunbed and beauty business together, then when noting turnover for the year, include all turnover.
A low turnover can be a big turn off for a buyer and you don't want to sell yourself short by not including some revenues.
Also when advertising I always look for monthly rental cost as a first thing, as a place may have a high turnover but extortionate rent, so be sure to mention the rent (if any) and how long left on the lease.
Also be sure to note the value of any stock (a rough estimate will do) as most businesses say this is the price plus stock as valued, but its good to give them an idea of the value, as they can decide if it's affordable (some find they can afford the purchase price but if you have 5k worth of stock, it may put it out of their reach)
Also be sure to note if the salon is working at full potential, ie if you have 2 room but only 1 therapist working, then technically its working at a lot less than its potential and will show a buyer that theres room for them to increase the turnover.
Most people take on a business wanting to increase it's turnover so show ways that it can be done, ie, if you have a client database that can be used for marketing, if you have extra space or equipment not being used, or if there is scope to add other services.
These are just some of the first things my eye has gone to when looking at advertised businesses in the past.
Businesses For Sale UK - Sell or Buy a Business for Sale is usually a popular place to advertise, and a lot of agents advertise there.
By doing it privately you will dodge some costs of agent services but will still incurr fees.
I would suggest that if you are selling the business as a sunbed and beauty business together, then when noting turnover for the year, include all turnover.
A low turnover can be a big turn off for a buyer and you don't want to sell yourself short by not including some revenues.
Also when advertising I always look for monthly rental cost as a first thing, as a place may have a high turnover but extortionate rent, so be sure to mention the rent (if any) and how long left on the lease.
Also be sure to note the value of any stock (a rough estimate will do) as most businesses say this is the price plus stock as valued, but its good to give them an idea of the value, as they can decide if it's affordable (some find they can afford the purchase price but if you have 5k worth of stock, it may put it out of their reach)
Also be sure to note if the salon is working at full potential, ie if you have 2 room but only 1 therapist working, then technically its working at a lot less than its potential and will show a buyer that theres room for them to increase the turnover.
Most people take on a business wanting to increase it's turnover so show ways that it can be done, ie, if you have a client database that can be used for marketing, if you have extra space or equipment not being used, or if there is scope to add other services.
These are just some of the first things my eye has gone to when looking at advertised businesses in the past.
