How much is my business worth?
There are various myths around about how businesses are valued. For example, many believe that buyers arrive at a figure by multiplying the annual profit of the business with some "industry standard" figure.
Others believe that it's the turnover that is multiplied by the "industry standard".
Neither is correct.
We show you better ways to value your business. But, more importantly, we guide you on how to find buyers willing to pay far more than would be indicated by formal valuations. Get our free ebook here.
How to sell my business?
There are essentially two ways to sell a business:
1. Use a business broker, business transfer agent or other intermediary and they'll do most of the work. But this is expensive and, arguably, not as efficient. But if you're a larger business (£2m and above), this is probably the best route and we can help you find the right business broker.
2. Handle the sale yourself with support and assistance from relevant experts. This is better suited to the smaller businesses (sub £1, in turnover). You're the most qualified person to sell your business. Buy in and pay for only the expertise you need.
Whichever option is right for you, we've got you covered.
How long does it take / what's the cost?
The process can take under two weeks from start to finish ...or over a year!
The length of time is closely related to the quality of the opportunity, yes, but also to the level of expertise of the person (or firm) handling the sale. Sale documents need to be prepared and the opportunity needs to be marketed (for example, by listing the business at marketplaces like these). When buyers show interest there will be numerous due diligence matters to attend to followed by the actual negotiation of price and terms.
There is no option like our option for speeding up the process while shaving 80% or more off the costs. Find out more.