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Sell Your Business Fully managed & confidential services for business owners.
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OverviewWho we are and what we do
BuyMyBiz is a business sale broker working with owners of small and medium sized businesses.
With a wide range of completed sales across the UK, we provide business owners with support,
experience and a range of services to help find the right buyer for their business.
Our services include:• Confidential marketing
• Business valuation & sale appraisal
• Preparation of key marketing documents and disclaimer
• Full support and management up to sale completion
• Exit planning Services
The team behind BuyMyBiz have over 50 years ‘hands on’ commercial business experience
and have successfully completed a number of business sale transactions. In a market largely
populated by re-active and No Sale No Fee – Listing Agents, BuyMyBiz brings a proven,
professional and marketing lead service to help you secure the best deal for your business.
With extensive knowledge across a variety of business types and independent of any
larger professional services firm or investment bank, BuyMyBiz delivers market-leading
client support, business marketing and deal negotiation skills to small business owners and
entrepreneurs.
Often we can significantly enhance the offer value for our client’s business by delivering our
proactive marketing, good service, negotiation support and a no surprises service for our
private business owners.
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BuyMyBiz operates across a wide range of business sectors, including:
• Ecommerce & Retail
• Food, Drink & Hospitality
• Business & Support Services
• Heath & Wellbeing
• I.T. & Telecommunications
• Sports & Leisure
• Professional Services
• Automotive & Transport
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Plan your exitWhen to market your business
There are many reasons why a business owner may decide to sell.
It could be a result of a planned retirement and succession issue, an
investor looking to exit, change of focus, reduced interest in the business
or simply reaching a point where the business needs the energy and
financial support of a larger group to continue expansion.
Regardless of the reason, it is imperative that you allow enough time
to plan your exit and find the right buyer. Many business owners do
not act until the business has reached a plateau or is in decline, some
simply leave the planning and marketing until a few months before
they wish to sell. All of these mistakes will prove a major disadvantage
when you want to sell. Whenever possible, start the sale process when
the business is doing well and try not to rush the sale process. A good
business always sells.
To secure the best deal for your business, you simply need to plan
ahead. Competitors and buyers that approach you directly are unlikely
to pay a premium for your business whereas other trade or private
buyers identified through research and marketing are more likely to.
As a minimum we recommend 12 months from initial marketing to sale
completion. Sometimes sellers are lucky and complete a sale in less time,
however the first mistake made by many business owners is to rely on
luck rather than taking the initiative and planning early.
Talk to us about the sale of your business, free valuation and sale appraisal
Contact us on 0330 133 2021 or email sales@buymybiz.co.uk
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Review & considerSelling your business
Any planned sale of your business must factor in both your personal and
business circumstances to ensure a successful and rewarding exit from
your business. Before proceeding with a sale, we will help you review
and consider your options. This will start by looking at the possible
succession candidates, which may include:
• a family member
• a co-owner
• an employee
• a third party buyer
The sale of any business can be a complex and difficult process. At
an early stage you will need to decide what your exit ambitions and
priorities are. You may be driven by the best price, ease of transaction,
buyer’s intentions for the staff and business or just the speed of a quick
sale. Other considerations will include:
• Goodwill & Asset Sale
• Sale of shares (Limited Company)
• Business Valuation
• Intellectual Property
A business sale is often considered a major life event. Regardless of
the reason for your sale or how soon you wish to exit, the process
should never be underestimated. For the best results you must always
allow appropriate time to plan, prepare and market your business on a
confidential basis.
This preparation keeps you in control, the more control you have, the
better your eventual deal. With the right support you have little to lose
and much to gain. You will only sell your business once, so do it right.
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How?How to sell your business
Whatever the reason for selling, it should be based upon clearly defined objectives and
consideration of the alternatives. The sale process can be time consuming, stressful and
therefore it is important to receive advice from experienced professionals to help guide you
through the process.
Every business is different, the support and advice you receive must be focused towards your
particular exit requirements. Selling any business needs careful consideration and planning,
you need to avoid the ‘one service fits all’ business listing brokers, every business is unique and
you must make your business stand out from the crowd. Before proceeding with a sale, we will
discuss with you the various options available.
At BuyMyBiz we plan and agree a suitable marketing strategy with each of our individual clients.
As a business owner, you have already invested much time and effort in your business and will
always assume you will want to secure the best deal.
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The most common objectives when selling:
• maximise business sale proceeds (net of tax)
• complete the sale as quickly as possible
without damaging the business
• protect management and employees’
interests as far as possible
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What is it worth?The value of your business
Having devoted many years as well as blood, sweat and tears into the
business, a business owner may struggle to take an objective view on the
value of their business and time-scales for a sale. Add to this the wide
range of valuation principles a buyer will use to justify any offer, there
is no surprise that an independent valuation and sale appraisal from an
experienced firm of business brokers is essential before you commence
the business sale process.
The business valuation process can be complex, based not just on
your bottom line profits, but a multitude of figures and factors – both
quantitative and intangible. Financial performance provides an
objective and useful insight into material value and history, but rarely
considers the true business opportunity and intellectual property
values.
The bottom line is simple; your business is only worth what a buyer is
willing to pay; a single offer alone does not demonstrate the true value
of a business. A one horse race is a sure shortfall and a guarantee not
to get the best deal for your business; the more comprehensive the
marketing, the more potential buyers you will find.
Simply by engaging more than one buyer you create competitive
tension that leads to multiple offers and the power of comparison.
This comparison allows a business owner to understand the true value
potential of their business and as a result secure the best deal possible.
Knowledge really is power when it comes to selling a business, and with
a better understanding and sense of the value of your business, you can
progress to sale completion in the comfort that you are not selling under
value.
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The true valueIntangible Assets & Intellectual Property
Goodwill and other intangible assets can form a major part of an overall
sale value. Often these intangibles are not fully understood by either the
buyer or seller yet could hold significant value.
These will include:• goodwill & brand recognition
• trademarks
• patents
• copyrights
• business methodology
Intellectual Property is essential to the growth and protection of a
business. The commercial world is extremely competitive and any
intellectual property your business has created over the years (formally
registered or not) makes your business unique, increases value and
protects it by creating barriers to entry for new competitors.
Establishing appropriate value for Intellectual Property can be complex.
We help our clients identify and understand the intellectual property
within their business, with this understanding comes the ability for all
parties to better monetise these intangible assets and help secure the
best and true value for the business.
Talk to us about the sale of your business, free valuation and sale appraisal
Contact us on 0330 133 2021 or email sales@buymybiz.co.uk
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What is a buyer looking for?
Whilst not a definitive list, having a selection of the following will significantly increase the interest in your business:
• a profitable business
• established business name / brand
• barriers to entry in a growing market
• genuine reason for sale
• potential for future growth
• stable infrastructure
• recurring income
• integrity of seller
• loyal staff, customers and suppliers.
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Take actionHow you can influence the value of your business
The ability to secure maximum value from a sale can be influenced by:
• selling at the right time
• allowing enough time for the full confidential marketing programme
• creating & identifying business protection / barriers to entry
• identifying potential issues that could affect value and addressing
them in advance
• identifying those purchasers that will have a genuine strategic
interest in acquiring the business
• ensuring that the key value drivers of a business are effectively
communicated to the purchaser
• introducing competitive tension into the sale process
• avoid last minute surprises for the purchaser which could jeopardise
the deal
• resisting last minute attempts by the purchaser to chip away at the
price previously agreed
• ensuring a range of options has been considered to maximise your
proceeds net of tax.
Find out how we can help you prepare for sale and secure the ‘best and
true value’ for your business.
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Your buyerWho might buy your business?
StrategicLarger companies or competitors looking to acquire the business to enter a new
market and /or grow their presence in a market they are already part of.
FinancialCompetitors in the same sector who believe they can cut costs and improve
operating efficiency by merging the businesses.
Private EquityInvestment led businesses seeking high growth business ventures.
ManagementExisting management teams buy out the business owner and run the business.
Private InvestorsIndividuals looking to invest money into a business without running the day to day
operations.
FamilyA sale or transfer of a business to a family member.
Job buyersIndividuals looking to buy a small business that they can run.
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10 steps to sell your business
1. Business Valuation & Saleability Appraisal
2. Identifying Buyers
3. Confidential Business Summary & Information Memorandum
4. Confidential Marketing Programme
5. Qualification of buyers
6. Meet & negotiate with multiple buyers
7. Set deadline for all offers
8. Head of Terms and Sale & Purchase Agreement
9. Due Diligence
10. Completion & Handover
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The next step
Whether you are thinking about selling now, or considering it for the
future, it is never too early to talk to us. Our business valuation and
saleability appraisal will help you review and consider you best options
and timing.
The cost for BuyMyBiz to market and sell your business is largely
success orientated and based on a small percentage of the sale
proceeds. A deposit payment is charged as your contribution to our
expenses and the agreed scope for any pre-sale support you will require.
Our success fee is based on a percentage of your final deal value and
only paid when your business has sold. Any deposit already paid will be
deducted from our completion invoice.
For a no obligation discussion about the sale of your business and to
arrange a free business valuation, please do not hesitate to contact us
on: 0330 133 2021 or alternatively email the team on
sales@BuyMyBiz.co.uk
Have you received an offer or direct approach for your business?
Talk to us now about our ‘Negotiation Support’ service.
It might just be one of the most profitable things you do this year!
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Accountants & other professionals
We work with a number of accountants, solicitors and business advisers across the UK.
- If you are business owner looking to sell, we are happy to work with your existing professional adviser.
- If you are a professional adviser, we are happy to work with you and discuss your client’s exit plans in confidence.
For a no obligation discussion about the sale of your business and to arrange a free business valuation, please
do not hesitate to contact us on: 0330 133 2021 or alternatively email the team on sales@BuyMyBiz.co.uk
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