Where would you advertise a business for sale at a circa £500/700k valuation ?

[Byzantium]

Service business, trades around £500k, profits circa £200k, staff run, no need for hands on management, easy to bolt onto similar enterprise or as run as a stand alone.

It is an odd piece of a larger business I bought some years ago and now it has been refined and updated, it is time to get rid of it - or keep it and enjoy the cashflow.

But if I want to sell it, where to advertise and perhaps more importantly, what to watch out for ?

I have a trade publication advert ready to go live next month and there are a limited number of online resources I could try but in the "business for sale" world, is there really a reputable equivalent of a Zoopla, Rightmove, Prime Location type platform where "everyone" goes to look ?

Sure, I've hit google and every broker seems like a spiv and from buying businesses through brokers, they have never done anything. If I was putting a house on the market I know all I need to do is get it on the main search platforms, one way or another.

So with a business, where to list it ?

 

[JEREMY HAWKE]

Its nothing like selling a house and you can mislead yourself thinking that

Also remeber that most businesses are not worth their owners desired price

Businesses for Sale - Buy or Sell your Company with Daltons Business

The UK's Largest Business and Franchise Marketplace Search over 20,000 businesses for sale. Visit our website to view or create business listings.

www.daltonsbusiness.com

 

[fisicx]

Find a broker. They aren’t all spivs.

Expect the negotiations to take many months and cost a decent whack but it’s money well spent.

 

[JEREMY HAWKE]

Find a broker. They aren’t all spivs.

Expect the negotiations to take many months and cost a decent whack but it’s money well spent.

They cant be dodgy as nobody would use them if this was the case

 

[fisicx]

A good friend sold their business a few years back. The negotiations took over a year and the final bill was over £150k. He considered this a good investment.

He said finding a potential buyer was the hardest part. Everything after that was sorting out the deal.

 

[Mark T Jones]

Find a broker. Select one who challenges your expectations and doesn't flatter your ego.

They exist, you just need to cut through the noise of the spivs.

House buying/selling is simple - most buyers are clear on specific needs and tastes. The process thereafter is well trodden and mostly steaight-forward. None of those is the case when selling a business

 

[Lisa Thomas]

Service business, trades around £500k, profits circa £200k, staff run, no need for hands on management, easy to bolt onto similar enterprise or as run as a stand alone.

It is an odd piece of a larger business I bought some years ago and now it has been refined and updated, it is time to get rid of it - or keep it and enjoy the cashflow.

But if I want to sell it, where to advertise and perhaps more importantly, what to watch out for ?

I have a trade publication advert ready to go live next month and there are a limited number of online resources I could try but in the "business for sale" world, is there really a reputable equivalent of a Zoopla, Rightmove, Prime Location type platform where "everyone" goes to look ?

Sure, I've hit google and every broker seems like a spiv and from buying businesses through brokers, they have never done anything. If I was putting a house on the market I know all I need to do is get it on the main search platforms, one way or another.

So with a business, where to list it ?

I can recommend an agent who will help sell your business. They know exactly where to market and have a database of interested parties.

 

[Chris Ashdown]

Contact other companies in your trade and let them know you are thinking of moving on and see if anyone bites,. 90% of interested people will be in the same work area and looking to expand, the chances of a new buyer with no experience in your area are slim. agents will want a big cut of your turnover to advertise and most a con men

 

[Paul Kelly ICHYB]

The first people to offer it to are the staff!

 

[Byzantium]

Its nothing like selling a house and you can mislead yourself thinking that

Also remeber that most businesses are not worth their owners desired price

Businesses for Sale - Buy or Sell your Company with Daltons Business

The UK's Largest Business and Franchise Marketplace Search over 20,000 businesses for sale. Visit our website to view or create business listings.

www.daltonsbusiness.com

I've bought quote a few and sold one or two but the most expensive I sold was £330k which is not exactly pocket money but it isn't that hard to find. Finding people with £700k in liquid cash is going to be far harder I guess.

I know most people overestimate the value but they also are working in the business. This one is self sufficient aside from a few hours a month so no need to discount by a salary for the owner.

 

[Byzantium]

Find a broker. They aren’t all spivs.

Expect the negotiations to take many months and cost a decent whack but it’s money well spent.

Yeah, I've bought a few through brokers but wouldn't recommend any of those spivs.

It is an industry with seemingly 90%+ spivs though and I don't know a good one.

 

[Byzantium]

They cant be dodgy as nobody would use them if this was the case

Err.....I disagree. Every business I've bought through a broker has been where the vendor didn't have other options to bring it to market or didn't want to investigate other options. They assumed, like the estate agents, that this was how it had to be done.

 

[Byzantium]

Find a broker. Select one who challenges your expectations and doesn't flatter your ego.

They exist, you just need to cut through the noise of the spivs.

House buying/selling is simple - most buyers are clear on specific needs and tastes. The process thereafter is well trodden and mostly steaight-forward. None of those is the case when selling a business

Good points but "they exist" and not suggesting any names doesn't take me forward.

I've bought enough businesses in 6 and 7 figures and my legal team can produce all the paperwork needed once outline terms are agreed but the "missing link" is the quality professional broker operating at the sub £1m level.

 

[Byzantium]

I can recommend an agent who will help sell your business. They know exactly where to market and have a database of interested parties.

Ok, I'll bite. How would they have a list of interested parties before you even know what sort of business it is ?

Feel free to drop me their details though, thanks.

 

[JEREMY HAWKE]

Err.....I disagree. Every business I've bought through a broker has been where the vendor didn't have other options to bring it to market or didn't want to investigate other options. They assumed, like the estate agents, that this was how it had to be done.

You would be wise to stay away from Tufton Street and take advice from the usual suspects on here

 

[Byzantium]

Contact other companies in your trade and let them know you are thinking of moving on and see if anyone bites,. 90% of interested people will be in the same work area and looking to expand, the chances of a new buyer with no experience in your area are slim. agents will want a big cut of your turnover to advertise and most a con men

Two good points, thanks.

I have a list of prospective people in my industry who I will contact and as I mentioned, we have a trade paper to advertise in plus their trade website and a couple of others I know.

Paying a good fee for a good sale is fine. Paying one of these business brokers who feature in the Mirror ripping off their (dim-witted) clients is not what I'm looking for.

 

[Paul Kelly ICHYB]

How would they have a list of interested parties before you even know what sort of business it is ?

They have people registered who are interested in a specific industry/business type....

 

[Greg PW Shearman]

Lots of good advice again , the worst way of having to sell a business is with speed ! A desperate seller stands out a mile.

Realistically an exit of a business should be one of the first things you plan when forming or buying a business.

I am preparing for a sale now but unlikely to sell for at least 2-5 years.

 

[Lisa Thomas]

They have people registered who are interested in a specific industry/business type....

This

 

[Lisa Thomas]

Ok, I'll bite. How would they have a list of interested parties before you even know what sort of business it is ?

Feel free to drop me their details though, thanks.

I have dm'd you.

 

[Paul Kelly ICHYB]

I have registered to a couple of agents (for a friend!!) looking for updates on the availability of a certain type of business.

Every so often I get an email saying that a business meeting my choice is available, with an overview of the operation, but not disclosing the company.

 

[HFE Signs]

Have a word with KBS Corporate

 

[trying_to_survive]

What business are you selling if you don't mind me asking?

 

[KeithGreen]

To answer the original question, places to advertise include businessesforsale.com, daltonsbusiness.com and rightbiz.co.uk, plus also Business Sale Report business-sale.com . Although maybe you've explored these and are not happy with them for some reason. The first of these is my main source of advertising enquiries but the others produce results also. What you will need is a response strategy and good quality sale documentation.
My experience with trade publications is poor.
You could also try trade approaches, or contact the intermediaries who are acting for retained buyers.
I am a business broker and I've never been accused of being a spiv, but then I've never grown a pencil moustache or sold watches and nylons. If you want a chat (no obligation, no pressure, no b*llucks) I'm up for it and you can judge for yourself.

 

[Rob Richmond]

Service business, trades around £500k, profits circa £200k, staff run, no need for hands on management, easy to bolt onto similar enterprise or as run as a stand alone.

It is an odd piece of a larger business I bought some years ago and now it has been refined and updated, it is time to get rid of it - or keep it and enjoy the cashflow.

But if I want to sell it, where to advertise and perhaps more importantly, what to watch out for ?

I have a trade publication advert ready to go live next month and there are a limited number of online resources I could try but in the "business for sale" world, is there really a reputable equivalent of a Zoopla, Rightmove, Prime Location type platform where "everyone" goes to look ?

Sure, I've hit google and every broker seems like a spiv and from buying businesses through brokers, they have never done anything. If I was putting a house on the market I know all I need to do is get it on the main search platforms, one way or another.

So with a business, where to list it ?

We help business owners maximise their exit but also acquire business and grow groups. Feel free to reach out and we can have a chat.

 

[Greg PW Shearman]

Ask yourself the question - who would buy it ?
Why would they buy it ?

Then contact those direct individually or via business sales agents who understand your business fully.

We are lucky that our business can be picked up and dropped into another business that has capacity.
So when we come to sell we are not reliant on finding someone in our geographical area.