We’ve all heard tales of bedroom entrepreneurs that end up selling their companies for billions.
It’s a dream that’s shared by many current and aspiring business owners. However, assembling your start-up with the ultimate goal of a trade sale takes a lot of preparation. What’s more, it’s hard to know where to begin.
When launching Gunna, an award-winning range of low-sugar craft soft drinks, I drew upon my previous experience of building my first company, a marketing strategy and innovation consultancy called Clear Ideas, and selling it to M&C Saatchi for £18.4m in 2007.
So here are my top five tips to help you build your start-up for a trade sale; (more…)
Many small businesses, up to 20 employees, are run in a very hands-on manner by their owners. This can work well for everyone and hopefully provide the proprietors with a good level of income.
When it comes to the moment they want to move on, or retire, however, their future financial independence will depend on how much the business is worth. If the business is dependent on them, it will have limited value, but if it functions as a fully autonomous company, it will command a significantly higher value.
So can a management buyout be a good way to sell your business? (more…)
Due diligence is a term bandied around quite a lot. However, not many people understand what it means or how it’s can be used to help.
If you ever consider buying or selling a business, or investing in a business, then you’ll need to know precisely what due diligence means, what the process involves and how to conduct due diligence properly. (more…)
For most business owners, selling their business is a once in a lifetime event. It’s also often the culmination of decades of hard graft so it’s important you get it right.
When building up your business, you will have invested a huge amount of your time, energy and money so you will want to make sure you maximise the return when it comes to selling up. But without any previous experience to draw upon, it’s all too easy for business owners to sell their company for less than it is worth.
With so much at stake, we asked Clinton Lee of UK Business Brokers to help explain how you can get the best possible price from a buyer, when you are selling your small business;
So you want to sell your business? The place where you’ve spent more time than with your family; invested money which you’ve sometimes had to borrow in order to expand or buy new equipment; given your heart and torn out your guts; worked anywhere from 60 – 80 hours a week, maybe more; tackled a recession and seen a chink of light at the other end.
Now think of decorating a room. Any professional will tell you it’s 80% preparation and 20% finish. I wouldn’t go quite that far, but the planning is all important when it comes to selling. (more…)
When most people talk about starting a business, they mean setting up a company from scratch.
In many respects, that’s one of the hardest ways to get going in business, as you have to do everything for the first time and make some pretty hard decisions along the way.
If you’ve decided to buy an existing business rather than starting a completely new venture, here are ten things to consider before taking the plunge:
A leading law firm is warning entrepreneurs looking to sell their business not to underestimate how treacherous the process can be.
Mace & Jones corporate lawyer Ian Hodgkinson highlights some of the common pitfalls the unwary can fall into.