Buying a business for the Mrs

[MagicalTrevor]

We were discussing the idea of buying an established business in the local area that my Mrs can run. Are there recommended places/websites where businesses are advertised? i.e. A RightMove or AutoTrader for businesses

I suppose another option would be to buy into another business?

Has anyone done similar?

[anonymous-user]

Daltons weekly still seems to be going

http://www.daltons.co.uk/business/

Or for a location search
http://m.daltonsbusiness.com

Edited by anonymous-user on Tuesday 11th November 20:21

[MagicalTrevor]

speedyguy said:

Daltons weekly still seems to be going

http://www.daltons.co.uk/business/

Or for a location search
http://m.daltonsbusiness.com

Edited by speedyguy on Tuesday 11th November 20:21

Thanks, I'll have a browse

[Frimley111R]

www.buinessesforsale.com and ebay too

[Thankyou4calling]

What type of business are you looking at?

[MagicalTrevor]

Thankyou4calling said:

What type of business are you looking at?

That's a good and obvious question. To a certain extent anything would be considered. She's into arts and crafts type stuff but also 'office' type stuff. I realise that's particularly vague but that's the reason for wanting to see the websites so we can see what's available and and what price.

We wouldn't rush into anything of course!

[Thankyou4calling]

MagicalTrevor said:

That's a good and obvious question. To a certain extent anything would be considered. She's into arts and crafts type stuff but also 'office' type stuff. I realise that's particularly vague but that's the reason for wanting to see the websites so we can see what's available and and what price.

We wouldn't rush into anything of course!

Fair enough.

Buying a business isn't something to be rushed.

If it's a going concern, say an arts and crafts retail store you need to be clear on what you're actually buying. Does "Goodwill" have a real value or is it in reality a fitted out leasehold shop with customers who can come and go as they please?

[MagicalTrevor]

That's good advice, thank you

[anonymous-user]

Good luck, the biggest issue is that a lot of small business owners have delusions of grandeur when it comes to what they think their business is worth.

Also, it can be hard to gauge the true profitability of such businesses, due to opaque accounting.

It carries slightly more risk, of course, but starting starting from scratch is likely to make you far more money, provide more of a challenge, and do away with the painful negotiating/due diligence bit..

[Keep it stiff]

Inkyfingers said:

Good luck, the biggest issue is that a lot of small business owners have delusions of grandeur when it comes to what they think their business is worth.

Also, it can be hard to gauge the true profitability of such businesses, due to opaque accounting.

It carries slightly more risk, of course, but starting starting from scratch is likely to make you far more money, provide more of a challenge, and do away with the painful negotiating/due diligence bit..

Very valid points.

[Eric Mc]

At the very least, ask to see three years profit and loss and balance sheet figures as prepared by the business' accountants - and then get your own accountant to review those figures to see if there is anything lurking that needs better explanation.

And I would always try and ascertain the TRUE reason the current owner is selling up.

[MagicalTrevor]

Great advice guys, just what I was after.

Really appreciate it.