FAQs For Business Sellers

1. How Much is My Business Worth?

This will depend on a number of factors.

  • The turnover and profitability of the business.
  • The location of the business.
  • The value of the Freehold or Lease.
  • The condition of the premises.
  • The demand for the type of business.
  • The value of the business assets.etc.etc.

2. Who Can Value My Business Accurately?

Business Transfer Agents,  Accountants and Chartered Surveyors can all provide a business appraisal - who you should choose will depend on what you need the valuation for. If you need the valuation to sell all or part of your business you are probably better to speak to a Business Transfer Agent, who has local knowledge of businesses. These valuations are generally Free if you are considering using the Agent to sell your business.
 

3. What Should I Expect From My Agent?

A good Business Transfer Agent should be able to:

  • Value the business and property correctly.
  • Draw up a good set of Sales Particulars correctly reflecting the business.
  • Advertise your business well and where appropriate.
  • Handle all enquiries with discretion and assess their quality.
  • Arrange appointments with prospective purchasers.
  • Keep you briefed on all negotiations throughout.
  • Ensure that all details with regard to Business Accounts, Lease Terms are available and up to date.

4. Will My Customers / Staff Find Out I'm Selling The Business?

A competent Business Transfer Agent will operate a Confidentiality Agreement System with regard to prospective purchasers. This means that anyone who requests information regarding the details to your business will have to agree to certain criteria protecting your anonymity. Always ask your agent to explain this to you.