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Steve Weatherley

  • Posts: 699
Selling your business
« on: May 01, 2014, 04:49:02 pm »
I am considering selling my business. I have a customer database and various items of equipment to sell. The business has been established since 2003 and I am keen to pass it on to good hands.
I'm wondering if anyone else has sold a business like this and if so what are the things I should look out for? Is it safe to sell the phone numbers with the business - bearing in mind I run the business from my home is there an idetity theft threat if the buyer has my name and address and then takes on the landline and mobile numbers?

Jamie Pearson

  • Posts: 3407
Re: Selling your business
« Reply #1 on: May 01, 2014, 05:17:42 pm »
Would any of your competitors be big enough to buy you out?

Len Gribble

  • Posts: 5106
Re: Selling your business
« Reply #2 on: May 01, 2014, 06:20:52 pm »
I’m very sorry Steve forgotten all about you! I was in your neck of the woods last weekend and was asked by a driving instructor! Gave him oakleaf nbr
Always bear in mind that your own resolution to succeed is more important than any other. (Sidcup Kent)

Steve Weatherley

  • Posts: 699
Re: Selling your business
« Reply #3 on: May 01, 2014, 07:04:34 pm »
Wouldn't need to be very big to buy me out! I'm always open to offers!

Steve Weatherley

  • Posts: 699
Re: Selling your business
« Reply #4 on: May 01, 2014, 07:05:59 pm »
No problem Len it's been a while since we last spoke. I'm busier doing window cleaning these days as it's much easier on my old back  ;D hence looking to sell the carpet side

Len Gribble

  • Posts: 5106
Re: Selling your business
« Reply #5 on: May 01, 2014, 07:54:39 pm »
Steve approach Boots & Thomson in Ramsgate high street, their frontage looks like S.H.I.T and a brand name!!!!! Opposite nice coffee house to watch the world go by!
Always bear in mind that your own resolution to succeed is more important than any other. (Sidcup Kent)

jasonl

  • Posts: 3183
Re: Selling your business
« Reply #6 on: May 01, 2014, 07:57:23 pm »
There are several formulas for valuing a business , as a guide

if it has proper systems in place and makes more than a wage  , it will be worth plenty .

I sold a cd franchise with 120k turnover and 20k  tangible assets  for 60k .

I bought a business with 35k turnover  and 3k tangible assets for 6k .

I buy websites for 200-3000.
I clean carpets
I dry Buildings

Pete Blackburn

  • Posts: 39
Re: Selling your business
« Reply #7 on: May 01, 2014, 08:54:59 pm »
Realistically, you will be lucky to get anything. Just sell off your gear and move on.
NET profit over the past 5 years is averaged and valuation is based on this along with other factors. 
Unfortunately carpet cleaning as a stand alone business is not financially viable for investor/s or someone looking to buy in. However, on a positive note, its provided you with a wage and got you by no doubt.

Sorry to be a little negative but good luck with your new venture.

Deep Cleaning Solutions

  • Posts: 673
Re: Selling your business
« Reply #8 on: May 02, 2014, 09:08:28 am »
Their are many companies who specialise in selling business who will come out and give you a free valuation and appraisal your company.
David.
Owner of Deep Cleaning Solutions.
Expert in Web Design & SEO
www.rocketwebsitedesigners.co.uk

John Kelly

  • Posts: 4461
Re: Selling your business
« Reply #9 on: May 02, 2014, 03:50:48 pm »
There are lots of people who have sold their carpet cleaning businesses. Work out a price you are happy with and advertise it on gumtree, facebook etc. If you use an agent they will take a big slice of the purchase price.
There are lots of people being made redundant who are looking for something to make up for their lost income.