Questions

We would continue with fast growth but need to exit for personal reasons. Where would you go from here to find a buyer? Very grateful for any answers.

Why get your banker to advise on the sale of the business? Seems you're using the wrong advisor.
Finding a buyer for any service (or a business) begins with YOU knowing the obvious purchasers....

I sold my business last week (seriously, yes) and I started by researching other firms in the same and adjacent marketplaces. Then I sent them this email.

The owners of XXXX have put the business up for sale. If you would like to find out more with a view to buying it as a going concern, please get in touch before 12 December 2017.

We would count it as a personal favour if you could refrain from sharing this information outside your organisation.

Many thanks.

I got 6 enquiries, got 5 NDAs signed, and proceeded to negotiations with two and sold to one....

I brought the lawyers in late in the day, once we had agreed a heads of terms. I knew the price I wanted and they told me during negotiations what they valued the firm at and we haggled....

And so my advice is to first find possible buyers by approaching them direct. Then bring in advisors. NOT your banker (he's good for banking.... not business sales).

Go for it.


Answered 4 years ago

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