Best route to sell a business?

[sa_20v]

I've sold websites before, but never businesses - at the minute I'm considering parting with an internet company with £million pound turnover, and favourable profit margins (also recession proof) in order to fund other projects. Having spoken to a couple of people who've been down this route, they've found it costly and riddled with timewasters - what's the best approach to get this to the market, so to speak?

[Mattt]

Speak with srebbe64 - he's your man

[sa_20v]

Mattt said:

Speak with srebbe64 - he's your man

Cheers, will drop him an email now.

[Mattt]

Not sure what sector the business is in, but Ted used these guys to sell PH - so guessing they must be ok to deal with!

http://www.fusioncorp.co.uk/

[Ade355]

You can just use a normal business agent, you can find one here: http://uk.businessesforsale.com/

Or you can sell without an agent! Advertise directly on businessesforsale.

With respect to time wasters, I think you can minimise this effect by being organised and ready with all the financials and key information (lease, contracts etc) up front. Be completely honest about everything and dont hide any negative information - it will just come out later in due diligence and everyone will have wasted their time. Ask to see proof from the buyer they have enough funds, plus a buyer with some experience in the industry is much more preferable - if they have none they are going to be constantly surprised by the detail of your business and are much more likely to pull out and waste your time.

Im currently purchasing a business (3 months into process) and new negative issues are coming up all the time. Each time something new comes up (planning issue, lease issue, employee issue) I take one step closer to pulling out or changing my offer. If the owner had been more forthcoming with the information from the beginning the process would have been shorter and more trust-inducing.

Good luck with the sale!

[sa_20v]

Cheers Ade, and good luck with the purchase!