Selling a business
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  1. #1
    R/C Apprentice fatcat's Avatar
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    Selling a business


    Selling a business

    Any advice out there on selling a business,

    I am looking at selling mine at the end of the year, but do Ido it through the

    Classifieds, eBay or a broker.

    Any advice.

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  3. #2
    Senior Moderator little_drifter's Avatar
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    Depends what kind of business your selling?




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  4. #3
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    Ongoing concern or liquidation sellout?

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  6. #4
    R/C Guru NITROBUSA's Avatar
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    When we brought our business the previous owner used a broker/realestate, and she was a F%&# pain in the a55!

    She gave us a letter from solicitors that we could only deal thru her not talk to the owners, to look at the books we had to pay a 15% deposit, that was refundable 3months after if we decided to not go ahead.

    We had to get our solicitors involed just to see if the business was viable!

    What ever you choose, PLEASE make it a good exsperiance for the buyer, it was our first venture into business and we nilly pulled out it was that bad!

  7. #5
    R/C Apprentice fatcat's Avatar
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    it is a Ongoing concern.
    Business is a mobile Dj + PA & lighting hire that i have run for 10 years,
    reason i am selling up is i am getting to old and i would like a life back on a weekend.

  8. #6
    R/C God RogerDaShrubber's Avatar
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    I would just sell private in that situation, because you will be most likely selling the business for the cost of the equipment only and or not have much in the way of goodwill added to the price, unless you can show permanent contracts that have some residual value.

  9. #7
    R/C Apprentice fatcat's Avatar
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    Ta for the help, I will sit back and have a hard think on what to do next,
    Just a little bit sad to see my baby go.

  10. #8
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    I have been a DJ for over 30 years, the only real value in DJ businesses is the Equipment & Music, most people wont pay you a cent for the good will or your customer base.

    I had been winding my DJ service down over the last couple of years, only servicing existing clients, the main concern the customers seem to express with a sellout/ownership change, will the new operator be able to give them the same level of service that they have received from me.

    Like you, I wanted some time to persue other activities while I was still young enough and healthy enough to do them, it seems I left my run a little late as a recent Heart Attack has placed a lot of those ideas on hold.

    If you have any contractors doing work for you, maybe you could offer them the customer base and gear, this is what I have done, and have also arranged to onforward any future enquiries.

    Good Luck what ever you decide




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  11. #9
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    if it helps, i got to see it from the 'other' side - acting on behalf of potential buyer

    unless its into 6-figures, going thru a broker might cost more than its worth.
    They only 'market' what you give them and for anything without a shopfront, that's hard.

    Best would be if you've got apprentice/followers who want to continue the trade
    then that would be your easiest avenue. If they "can't afford" consider offering vendor finance.

    Either way... you'd want to have full trading history properly documented (= accountant)
    and showing healthy growth thru the years - biz value is a multiple of EBIT &/or turnover.
    If trend is going backwards, better have a decent excuse.

    Before you show your books to any interested party, make them sign confidentiality
    & non-disclosure agreement and also some clause that they cannot use information
    gained off you to compete etc etc - get a lawyer to draft a proforma for you to use.
    Do it before you invite propects to "hey check me out @ XYZ on Saturday!"


    As towie said above... if you've got regular gigs see if you can get some signed agreement
    with them for ongoing services... a signed contract looks better than none to buyer.

    You should also prep your equipment for sale... repair/maintain anything degraded,
    give cabinets etc a lick of paint, hire Jim's Tagging to check all your gear etc.

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  12. #10
    R/C Apprentice fatcat's Avatar
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    Thanks for the advice Towie & zoomer,now you have given me a bit more to think about as i do have full acc books and
    bookings into next year

  13. #11
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    "Sell On A High" buddy

    also in the leadup its worth separating your personal affairs from the business
    eg if jobs are calling on your mobile, consider getting separate # for personal
    so you can sell the known # together with the business

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  14. #12
    R/C Guru Seano's Avatar
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    Try the Coast to Coast magazine.

  15. #13
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    Selling a business can be more profitable if you first register Company Registration in Singapore. I can advise you to follow the link and read more about this procedure and its advantages. Also, I recommend that you do not rush to sell, but wait until the price of the company rises a little.

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