Q) My business has been for sale with incompetent agents. I must sell as soon as I can due to severe health needs. The business is solvent and profitable but needs total commitment. I am a sole trader with no family and cannot afford to walk away. Are there other options open to me?

Answered by Philip Wilkinson, Business Link,

There are a number of other ways you can sell your business. Firstly, check amongst your friends, contacts, business suppliers, customers and competitors if they are interested in buying. Also let your accountant know what you are proposing – not only may they know someone, but you will likely need their advice if you receive any offers. You could advertise your business in national and local newspapers in the business premises for sale section. You could also advertise in relevant Trade journals.

Find your trade association through the Trade Association website.

Some magazines - many of them with their own websites - specialise in selling, like Exchange and Mart, Loot and Daltons Business. Search for businesses for sale at the Daltons Business website.

Don't forget word of mouth. Ask around among trade contacts, business associates, and at exhibitions and conferences.

User comments by Alex Hawes at 9:09am, 11 Jun 2007

I know of a private equity boutique that specialises in this kind of situation. They structure deals to ensure you get a fair deal and keep the company profitable. If the forum rules permit, I am happy to get the details.

Editor comments by Adam Wayland at 10:14am, 11 Jun 2007

By all means, anything that can point people in the right direction is welcome. If you have a contact name that people could use, i'm sure that would be appreciated too.

User comments by Gordon Johnson Houghton at 5:03pm, 29 Jun 2007

I work part-time for a Corporate Finance boutique that specialises in M&A of owner-managed businesses. One common problem with marketing them effectively arises because the business is so tied up with the relationships built up by the proprietor, that there is not really a business outside of that 1 person - in other words, once that person walks away, there is not a business left. I am not saying this is your difficulty, but it may be something you should consider.

User comments by Alex Hawes at 1:53pm, 09 Aug 2007

Sorry should have been back on sooner. I am happy to speak to the original poster, if he would like to drop me a line at alexh@amsys.co.uk.

Incidentally I agree with what Gordon says. That was the case when we acquired this business, but have managed to overcome that and get some value for the previous owner.

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