Business Brokers

[Brinders]

Hello, I'm looking for reputable business sales brokers to sell a small gym. Can anybody recommend any?
Thanks in advance

 

[Scott@KarmaContent]

I'm sure a member here called @Clinton will be able to help you when he comes along.

 

[Clinton]

Thanks, Scott

Brinders, I own the UK's largest database of business brokers (with data on sector specialisation, geographical coverage, fees, fee structures, you name it). I'm not currently taking new clients as I'm fully booked up, but I'm happy to advise in this thread if you have specific questions.

With respect reputable brokers to sell a small business, that's tricky. There are a lot - and I mean a lot - of quality brokers in the UK for the sale of larger business, but smaller businesses end up with the likes of RTA, Knightsbridge, Earnest Wilson, Turner Butler, Intelligent Business Transfer, Hilton Smythe etc. I have never "recommended" any of those brokers.

I'm not saying any of them are "bad" guys - I wouldn't say that as brokers can be quite a litigious lot - but I suggest you spend a lot of time researching the broker (Google / feedback sites / LinkedIn / CEBTA / whatever) before signing up with them. This applies even if you're paying them no fees in advance. Actually, it applies particularly if you're paying no fees in advance (some of the worst brokers take no advance fee)!

How big is the business? Have you considered selling it yourself i.e. without a broker?

 

[Brinders]

Ok thanks Clinton, much appreciated. Do you know if any that specialise in/favour the leisure industry? Or would you say it's better to go with a company that covers all industries?

Thanks

 

[Clinton]

You didn't answer my questions. I don't know what it is with small business owners not disclosing their turnover and profit - I see this quite often - but these do matter when it comes to making decisions about selling.

 

[Brinders]

Sorry I was drawn straight to your line about not being able to take anyone else on. T/O 60,000, profit 17,000

 

[Clinton]

OK, thanks.

There are many brokers who specialise in a particular industry and one of the running debates among brokers is whether sector specialisation is a good or bad thing. There are numerous arguments on both sides.

However, your business is at the micro end of the market and here I don't believe it makes much difference. In fact, at the £17K profit level I would advise you don't use any broker. Seriously! It's a dangerous game signing up with a broker and any broker that'll take on a 60-17 business is a broker I would be very suspicious about. I guarantee you one thing: such a broker will do no more than write a small ad, post it online and sit back and wait for enquiries (which won't materialise). For that he'll take 8%-12% of your sale price if you sell the business.

The type of service such brokers provide is minimal. You could do that yourself. Write a small ad, put it on BusinessesForSale.com and RightBiz, then sit back and wait for enquiries. (If you are doing that, drop me a note. I still can't take on new clients but I can save you a few bucks on the cost of the ads).

However, my advice to you would be that it's very, very difficult to sell a business with those metrics. The ones that sell are the exceptions and they sell for oddball reasons such as the shop next door wanting to expand. Whether it's you or the broker posting the ad/s I expect you'll get no more than 3-4 enquiries over a six month period and they will be low quality enquiries. Sorry I don't have better news.

 

[sherman.marx]

Hello Brinder,

You can contact with @Staff India. They could be able to help you.

Thank you.