What’s it really like to sell a business yourself? Is it advisable? How do you go about it?
We’ll answer all those questions … and more.
First, take reassurance that every year thousands of business owners sell their businesses without any external help. In fact, these FSBO (For Sale By Owner) transactions constitute the majority of small business sales. Business owners have enormous time, cash and emotional investment in their business and that passion makes a difference.
So, it’s definitely possible.
What types of businesses are most successfully sold by the owners themselves rather than by business brokers?
- Small businesses with turnover less than £500K or EBITDA / net profit less than £200K p.a.
- Slightly larger businesses where the owners have the time to handle the process themselves
- Straightforward businesses that are relatively easy to run
- Businesses that are purely online e.g. ecommerce (with outsourced shipping)
- Businesses not currently generating a profit or where the profit is masked by benefits the owner has taken for himself
- Businesses where the owner already has a few prospective buyers or can narrow down key targets in the locality, within the supply chain or among competitors who’d be interested
- Businesses where the owners don’t want to trust a broker maintaining the confidentiality
- Businesses in need of relocation …or a new marketing plan / new blood
- Businesses where the owners consider broker charges too expensive
- Failed broker listings: Businesses a broker has failed to sell that are coming back to market
- Businesses that need to move quickly to transaction completion
- Businesses that brokers may not be interested in taking on because they see a lower prospect of sale.
But if you’ve never sold a business before you would benefit from having some experts on your side. That’s where we come in. Our job is to help you understand the process, execute the sale plan, get a higher price for your business and do so with the minimum disruption to your business. And to make that all happen safely and in the shortest possible time.
Many business owners find the information on this site (and in our free downloads) sufficient to prepare and list their business prior to successfully closing a deal. But we go further. If you sign up as a member you can avail of free professional help, free marketing help, significant discounts on the costs of advertising in the UK’s top business listing locations …and much more. Membership pays for itself hundreds of times over. Check out the benefits of subscribing on our subscriber page.