Blacks Corporate will connect your business with the best buyers in the market and manage your transaction with skill, tact and discretion.
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You only sell your business once, so you need to be able to trust your agent to find the right buyer. We will give you a genuine, realistic valuation and provide a clear assessment of the marketplace in which you are selling. Then we will focus all our efforts on securing a sale. We will keep you informed at every stage and manage your transaction from receiving offers through to completion.
1. Getting to know you
The Blacks Corporate process begins with a detailed, frank discussion of your plans. Before we can sell your business we need to understand your goals and priorities. We will also carry out a thorough appraisal of the market. Our understanding of the UK business sales environment is second-to-none, enabling us to arrive at a valuation that is both maximised and achievable.
2. Preparation for sale
Once we understand you, your business and its value we will help you prepare it for sale. Because we have successfully sold thousands of businesses we know what buyers look for in an acquisition. We will help you avoid pitfalls and ensure that your strongest assets are clearly visible to buyers.
3. Marketing your business
When your business is ready to begin the sale process we will market it for you. As well as approaching known active buyers direct we will employ a proven, powerful combination of offline, online and social media to promote your company to the widest possible audience of potential buyers. Whenever necessary this can be done with complete confidentiality.
Once you receive an offer you are happy with, we will broker the finer points of the deal and manage the process through to completion. Our priorities from the first moment to the last are to achieve the best deal for you and to manage the process in such a way that you experience minimum stress while we guide your transaction over the line.
Good business brokers like Blacks Corporate will be able to promote the opportunity to buy your business to a wide variety of potential acquirers. This is achieved using a range of marketing techniques and, because we have a large database active acquirers, we can approach them about the opportunity to buy your business while, if required, maintaining your anonymity. We use professionally drafted non-disclosure agreements to ensure that, wherever necessary, potential buyers maintain strict confidentiality. As the transaction progresses we will also act as intermediaries, minimising the likelihood of misunderstandings between sellers and buyers.
A number of factors will affect the value of your business. The price of a business is usually calculated as a multiple of net profit plus the value of any assets. Other factors, such as location and the quality of your premises can also have an effect. You and Blacks Corporate both have the same goal – to sell your business for the highest realistic value as quickly as possible. Our expert valuers will be happy to explain their methodology to you.
If your sale is confidential we will put together a listing that does not identify your business. We will also proactively approach our database of active buyers to make them aware of the opportunity. We will only provide full details to potential buyers who sign a legally binding non-disclosure agreement. For non-confidential sales we will create a detailed listing which will appear on our own website and on the market-leading business sale listing websites. Where appropriate, and with your prior agreement, we can also promote the opportunity to purchase non-confidentially listed business via social media and through articles in the press.
We only make a profit when we sell your business. However, we incur most of our costs before this. Asking you to make a modest contribution toward the cost of our staff and suppliers helps us to make the necessary investment to find the right buyer for your business. It also demonstrates to us that sellers are committed to selling, meaning we can present your business to potential buyers with confidence.
If you own the freehold on your premises then leasing the property to a new operator could provide a good source of income in the long term, and the business is also likely to appeal to a wider range of buyers. However, the ongoing rental income will be dependent on the success of the new operator, the up-front payment you receive will be lower, and you won’t have the same clean break, so it depends very much on your circumstances and plans. It will also depend, to an extent, on the buyer – some actively want to purchase freehold premises as an investment, while others are only interested in owning businesses, not property.
If you sell a business that is still trading then any permanent staff will have the right to stay on with that business. What happens in the long term will depend on the new owner’s plans – but most buyers in most sectors are looking to expand, and employ more people, rather than downsize.