Sell My Business Online

• What is the thinking behind Sell My Business Online?

Large businesses can afford and justify large fees when preparing and achieving a succesful exit.

However, the vast majority of enterprises (96% of UK enterprises categorised as 'micro businesses') are less able to afford good quality advice at the most crucial stage of exit.

The team behind Sell My Business Online have been involved in corporate deals for many years and wanted to provide the small and micro business community with a low cost process that retained the values and integrity available and expected with larger deals.

With this ethos - we launched Sell My Business Online.

• What are the key benefits of using Sell My Business Online?

We’ve stripped out the unnecessary costs and obligations of using traditional sales agents.

We have replaced it with an advertising and advisory service focused on value;

- From £95, clients have access to our expertise and buyer networks;

- Scrap the nonsense of transfer agent sales contracts;

- Scrap large % commissions for little more than a glorified matchmaking service;

- Fixed fee process makes everything transparent;

- Use online, digital facilities to provide low cost advice & expertise;

- Integrity with business owners, provide advice that it not based on them signing £1,000+ contracts

- There is no agents contract to sign with restrictive and expensive termination clauses;

• How does the service work?

1. Marketing Service (£95):

- Marketing & Advertising of Business Profile

- Not just an advertising portal but circulated across various websites, databases, buyer networks

- Circulated via Social Media platforms

- Expert feedback on market response and buyer enquiries

- Simple, effective and just £95

2. Advisory Service (£495)

- Marketing Service with Expert, MBA Qualified Advisor

- Gatekeeper Service protects clients from market, provides confidentiality, weeds out time wasters

- Advice and guidance on market valuations, offers, negotiations, completion

Case Studies page provides examples of how businesses have benefited from Sell My Business Online.

• What do i pay?

Marketing Service = £95 for 3 month subscriptions

Advisory Service = £495 for 3 month subscriptions

Most small businesses take 3-6 months to complete a deal - your initial 3 month subscription will go a long way to achieving a deal and/or understanding better the market reaction and what you may need to change to make your business more valuable

• How long does each service last?

Each subscription lasts 3 months and we can't hide behind an agents contract.  We have to provide constant evidence of value or clients walk.

• Do i have to pay any other fees if I sell the business?

We charge nothing when a business sells.  Compare the following savings from most recent deals;

Contract Cleaning Service sold in 10 weeks.  Cost = £495.  Cost of using transfer agent = £7,500

Online Childrens Retail sold in 7 weeks.  Cost = £95.  Cost of using transfer agent = £4,000

• Do I sign a contract?

No.  Clients can leave at anytime, sell to anyone and suffer no penalty.   Completely flexible.

• Can I terminate at any time?

No contract means nothing to terminate.

• Any hidden costs?

Fixed fee services & no hidden marketing costs.  Additional services available if required.

• How long does a standard sale process take to complete?

Selling a small business normally takes 3-6 months but, as above, is achieveable within weeks.

A 2011 USA business broker survey provided following % breakdown for length of time from marketing to completion;

1 – 3 months                    6%
4 – 6 months                   34%
7 – 9 months                   37%
10 – 12 months                15%
13 – 18 months                7%

• What are the most important factors for a buyer?

Different buyers require different things though most are looking for the following elements;

• Profitability
• Customer Base
• Growth / Scale Potential
• Level of Owner Dependency
• Management Structure
• Strategic Fit
• Visibility and Security of Future Earnings

• What if I find an interested buyer but need extra help?

Finding a buyer is only one step towards achieving a deal.   For this reason, we provide a range of supporting advisory services that can be accessed when and if required.

• What quick win changes should I make before trying to sell?

Preparation is absolutely key to driving the best value so you’re better off ignoring pre-sale valuations and concentrating instead on applying the 80/20 rule ie what small, quick changes can have the biggest impact?

• Financial Information: So many business owners try to sell their business with inadequate or out of date financials.  Think about selling close to or just after year end so your information is recent and credible
• Fixtures & Equipment: Prepare a list of fixtures & equipment in advance of finding a buyer.  It indicates that you’re in control of the business and avoids a scramble under the pressure of trying to get a deal
• Keep Working: Keep your foot down with the existing business operation and strategies because a drop in current performance will directly impact on price and indeed, if performance starts to deteriorate during negotiations then it might spook a buyer completely
• TLC: First impressions count in everything and visual improvements can make a subtle but important difference to perception about your business.
• Non-Profit Generating Assets: Sell them.  Why let a buyer benefit from them?
• Strategic Vision: No-one knows your business better than you so sketch out your own strategic vision or ambition for the buyer to consider – makes a big impression

• Why not use a Traditional Volume Sales Agent?

Consider market feedback before signing a transfer agent contract. 
http://blogs.mirror.co.uk/investigations/2009/03/rta-business-transfer-agents--.html
http://blogs.mirror.co.uk/investigations/2009/01/grief-from-commercial-sales-ag.html

• Why don't I just sell the business myself and advertise on a business sale website?

Good luck but please get back to us when you re-consider cost and value.

• Sell My Business Online is a volume agent so why are you any better?

If we haven't convinced you by now then perhaps we never will but tell me where else you get this kind of value from £95 ...  we'd like to know.

• Will Sell My Business Online work with my existing advisors?

Professional advisors use our service - it's particularly useful for advisors without an incumbent business sales network and for smaller accountancy firms who, without a corporate finance arm, might risk losing clients and fees to larger practices who do.

• Where can i get more information?

Email info@sellmybusinessonline.co.uk for more information about this unique service.