where should I look if I want to buy a business?

[Amazin]

Can someone please recommand me a site or somewhere to go if I want to buy an existing business? what is the best way to go about it?

Thanks in advance

 

[Amazin]

so no one on here ever bought a business?

 

[Merchant UK]

You need to be clearer in what your asking? Different businesses are sold differently and through different channels

What kind of business are you looking for? if people knew that they could help a bit more

 

[SuffolkDesigns]

There are plenty of sites around like http://uk.businessesforsale.com/
However, as mentioned above, it would help if you could give some idea of the type of business you are looking to buy.

 

[vvaannmmaann]

You need to be clearer in what your asking? Different businesses are sold differently and through different channels

What kind of business are you looking for? if people knew that they could help a bit more

It was window cleaning yesterday!
Before that wheelie bin cleaning,before that lookng for a business partner,before that looking for a business to invest in,before that looking for the best place to buy a van............

 

[templateagreements]

You could try talking to some agents. Small businesses for sale sometimes go through agents, which is especially useful for buyers as they filter out the time wasters a bit better than online listing sites or directories. AMS Business Sales is one example. (I'm not able to post the link I'm afraid, but try a few searches along these lines on Google).

 

[Socio South West]

It was window cleaning yesterday!
Before that wheelie bin cleaning,before that lookng for a business partner,before that looking for a business to invest in,before that looking for the best place to buy a van............

Amazin' !!!!

 

[Amazin]

It was window cleaning yesterday!
Before that wheelie bin cleaning,before that lookng for a business partner,before that looking for a business to invest in,before that looking for the best place to buy a van............

oh stop it you...

this is why I need help! I was looking to start a window cleaning business and I still do. I'm just weighting up my options and try to find the most profitable option for me.

My mother recently offered to buy me a house in East London, part of me want to invest that money into a business instead. like this one perhaps:

http://uk.businessesforsale.com/uk/...Small-Very-Profitable-Newsagent-For-Sale.aspx

I just want to buy a small straight forward business to run. I don't really mind as long it is not too difficult.

 

[vvaannmmaann]

I can't imagine a newsagent being an easy job!

 

[Billmccallum]

oh stop it you...

this is why I need help! I was looking to start a window cleaning business and I still do. I'm just weighting up my options and try to find the most profitable option for me.

My mother recently offered to buy me a house in East London, part of me want to invest that money into a business instead. like this one perhaps:

http://uk.businessesforsale.com/uk/...Small-Very-Profitable-Newsagent-For-Sale.aspx

I just want to buy a small straight forward business to run. I don't really mind as long it is not too difficult.

stand alone CTN outlets (Confectionary, Tobacco and News (retail)) are usually open from 5am, 7 days a week, are you prepared for that?

 

[Amazin]

stand alone CTN outlets (Confectionary, Tobacco and News (retail)) are usually open from 5am, 7 days a week, are you prepared for that?

surely is doesn't have to be like that? If you hire the right stuff, you can rotate and schedules. Yeah, certainly its hard work but nice earning though no?

 

[beasty]

It was window cleaning yesterday!
Before that wheelie bin cleaning,before that lookng for a business partner,before that looking for a business to invest in,before that looking for the best place to buy a van............

You should def go on some kind of quiz show that requires you to remember stuff!

I can barely remember what I did last week, never mind a complete strangers past history!

Do you advise people that your brain uses cookies that are stored for 30 days?

 

[businessfunding]

You would need a lot more detailed information to know whether that business represents decent value

However I can say for certainly that one thing you won't be buying is business success (with any business purchase) - that will boil down to an unquantified blend of experience, energy, enthusiasm and vision.

 

[Suzuki]

surely is doesn't have to be like that? If you hire the right stuff, you can rotate and schedules. Yeah, certainly its hard work but nice earning though no?

A lot of little store owners can't afford to hire staff though - in fact a lot of them effectively end up earning less than minimum wage working in them themselves.

I probably wouldn't be looking at building a business around confectionary, tobacco and newspapers - 2 of your 3 are on extremely shaky ground.

Cigarettes - the government certainly aren't going to make it any easier to advertise/sell them, or cheaper to buy. Go search for 'cigarettes' in Google news and read some of the recent stories about packaging and advertising etc.

News - More and more people are getting their news online. Which in itself is getting easier to do as more and more people have access to iPads etc. The market for printed news is only likely to decline further and further...

 

[Socio South West]

The example you posted has a big potential weakspot.... It quotes 17k per week sales, of which 6k is in bus passes alone.

The system for selling bus passes only has to be altered by the bus companies, and there is 30% of your business gone at a stroke.

The flat generates 8.4k pa. Assuming a 6% return that puts an investment value on a first floor flat of about 130k without considering the more valuable ground floor.

I don't think the asking price for the business side alone is very great - and the ad clearly states the property is in a bit of a mess: A survey would tell you more.

 

[SuffolkDesigns]

The system for selling bus passes only has to be altered by the bus companies, and there is 30% of your business gone at a stroke.

I wouldn't have thought the margins would be any good on these sales, at a guess I would say they are not profitable at all in themselves, but used to pull people into the shop that will hopefully buy more profitable items.

 

[vvaannmmaann]

You should def go on some kind of quiz show that requires you to remember stuff!

I can barely remember what I did last week, never mind a complete strangers past history!

Do you advise people that your brain uses cookies that are stored for 30 days?

I have problems remembering what I had for breakfast today!
So an easier option is to click on the username and then see what they wrote in their posting history!

 

[Socio South West]

I wouldn't have thought the margins would be any good on these sales, at a guess I would say they are not profitable at all in themselves, but used to pull people into the shop that will hopefully buy more profitable items.

I think you are probably right - and thought it when I posted, but have no information to make a valid judgement, but the fact that the freehold with a turnover of 850k is priced as it is suggests either the building is falling down or the margin is next to zilch... or maybe below zilch.....

 

[alfonsocomitini165]

I've been running a shop that turns over around a £1m a year. I would definitely look into the property. There is room, based on turn over, to hire staff. With 17k a week you need a hand. If you've got family the better.

Just look at their newspaper bills (always good indicator of people coming in through out the morning) I would say on the range of 1k +/- per week.

Look at their main cash and carry bill, grocery alone 2K/3k per week.

cigarettes 4k a week.

Do they run pay point, national lottery? if they do see how much per week and take it out from the weekly turn over.

As a rule of thumb, if you make 5k+ a week as turn over in a shop, that mean you are starting to make a bit of money. How much it depends from expenses and salaries. In London you might have to pay people a bit more to make them stay.

Bus passes, are always an income. I do very little on them £200 per week. That means I don't get good rates from bus company. Just ask the owner how much is the return on investment.

Regarding staff, very difficult to find people trustworthy and reliable, everyone will see a newsagent job a a "****" job. they put no passion and will loose interest very quickly. Obviously, not everyone I've got two extremely good members of staff! but the rest is a bit lazy!!!

I hope this reply helped.

 

[GeorgeM]

Are you seeking somewhere to live as well as run the business from ? Is that what attracted you to the shop ?

Whichever business you choose you are likely to put in long hours to run it - at least until you've grown it to justify taking staff on. Then your focus will switch to worrying about how to meet the wages bill.

So choose something you will enjoy doing (and that's profitable ofcourse).

 

[norwichlad]

My mother recently offered to buy me a house in East London, part of me want to invest that money into a business instead. like this one perhaps:

Why not invest in purchasing a commercial property which has accommodation, such as a shopfront with living quarters upstairs, and simply start you own?

Incorporate the business as an ltd and lease the shop from yourself to the business at a low rent and you already have a competitive advantage. If the business isn't successful you can rent the shop unit and retain the possibility of opening another shop in the future, or could even establish the business and 'flip it' to somebody who subsequently becomes your tenant.

 

[uksme]

If you're still looking for something in window cleaning, it may be worth looking at a franchise?

If you join a franchise, you are effectively starting your own 'local' business with the support of an established 'national' brand. The franchisor will expect an up-front joining fee, and an ongoing franchise membership fee thereafter, but they will give you all of the guidance and support you need to get set up and make the most of your business. Have a look at http://www.daltonsbusiness.com/window-cleaning-franchises for more information.