Has Anyone sold a business?

(4 Posts)
chocoLit Tue 14-Jun-16 18:11:27

Any advice? I think I've reached the end of the road with mine and keep coming back to selling it.........................

chocoLit Tue 14-Jun-16 20:19:40

.

Badbadbunny Wed 15-Jun-16 07:52:13

Yes, been involved with loads for myself and clients. Whether it will sell at all and how you sell it will depend on many things - lots of different routes for different scenarios.

First thing is to evaluate whether it's worth anything at all, and whether anyone is likely to buy it. You have to be rational with this. If it's not making more profit than you could earn spending the same working hours in a job, then it's probably worthless unless there's something special about it.

Beware of business sales agents. They tend to over-value and tell you they've lists of people wanting a business just like yours, but all that's a con to get you to sign up and pay their upfront selling fees (business agents usually work on upfront fees followed by a smaller commission if it sells). After 3 months of no interest, they'll tell you to reduce the price and after 6 months, they'll want more money for "advertising" contributions.

If you give some more information, i.e. type of business, turnover, profit, any staff, etc., then I'm sure you'll get more help.

chocoLit Wed 15-Jun-16 13:25:49

Thanks badbad.

It's an award winning cafe that we've built from scratch. And without being biased it's amazing what we've achieved in a few years.

I just don't think am doing it justice anymore and no longer get to do what I love.

I spend more time pandering to staff and playing referee/mother than anything else which has become exhausting.

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