Looking to sell your business fast?
In today’s market, selling a business is much more than just posting a listing on line and waiting for the phone to ring.
At Jacob & Jones Business Sales, we employ a wide variety of marketing practices to ensure your business gets the exposure required to ensure a quick sale with the least stress and disruption to your current operations.
Step 1 - Business Valuation Process
Initial fact-finding will enable us to gain a good understanding of your business, your competitors and the financial health of the business. The fact finding stage will be straightforward and you are likely to have most of the information to hand. Typical information that we will require include;
How you operate the business on a day to day basis
Recent trading results (Profit & loss Account)
Main business assets and liabilities
From this we will provide a realistic business valuation based on an analysis of your trading figures and current market conditions.
Step 2- The Business Sales Process
Our priority is to take the hassle out of the sales process so you can sit back and relax. We have a database of over 3,000 potential buyers throughout the UK. Our database grows daily as we use a number of techniques including social media, telesales, snail mail and contact with other professionals such as accountants, solicitors and bankers to grow our list of investors.
Elimination of time-wasters is key in the process. We will only introduce you to individuals who are interested in your market sector and have funds to be able to complete the purchase.
Step 3 - Completion
The time-frame from start to finish generally depends on the type of industry and financial strength of the business. We aim to present you with a suitable offer within 3 months of engagement with final completion within 6 months. However, the location and price of the business will have a factor on the demand for your business. For example those business in the Greater Glasgow area will have higher demand than those in smaller towns and villages. We will take this into consideration during the valuation stage.
Once an acceptable offer has been agreed, solicitors can be engaged. We strongly advise you to use solicitors experienced in commercial business sales as choosing the wrong solicitor can add months onto the completion process.
Why Jacob & Jones Business Sales?
At Jacob & Jones we provide industry wide coverage including;
Nurseries & Childcare
Retail & Leisure.
One of the greatest frustrations that business sellers encounter when trying to sell their business without a broker is the high number of tyre kickers and general time-wasters that are likely present themselves. If you try to sell your business yourself, you are giving out your details to everyone including your competitors, neighbours and customers. After a couple of weeks you will soon get fed-up with missed appointments and senseless questions.
At Jacob & Jones we have built up a large database of potential clients who we have built a relationship with over an extended period of time. We know each client, the level of funds that they have available and the type of business that interests them. If a client is interested in your business, but does not have the funds, we will work with them to determine if funding sources are available to them. If not, we will not waste your time by sending them to you.
Minimise Your Tax on Sale
Prior to selling your business it’s important to consider the tax implications of selling your business and understand the methods available to reduce any capital gains or future inheritance tax liabilities.
Our in-house accountants are on hand to give you free advice on the most tax efficient methods of reducing any potential tax liability through the use of entrepreneur relief, rollover relief, holdover relief and the timing of the business sale.
To get things moving, contact us today on 0141 334 8068 for a business valuation.