[Craigp]

They all have lots of potential to expand, funny that.

[John Kelly]

Every business has the potential to expand as in general business owners are lazy b's who don't push their businesses to their full potential.
Selling a business must be one of the hardest sales to make as the right person has to be there at the time and they don't grow on trees.
I think the best way is to do what Roger has done and sell it on to an employee. I have seen this happen many times especially when family members weren't interested in taking it on.

[Craigp]

Im just poking fun, it's like the machines for sale with a fault, its an easy fix, 5 min job max.  

But back to the businesses, several  want 25k for a turnover of 30k with profit 20k. and a portable/van, Is that worth 25k? I think that's assets only.

Going by that logic though my business is worth more than I thought. Result.  

[Doctor Carpet (Ret'd)]

When I bought my business 14 years ago I had always planned that when I got to 50 I would seriously start looking for a sale of the business, knowing that you will maximize the price when you don't need to sell/are not in any rush. I had various ideas as to where the buyer might come from and had throughout my time being the owner had cultivated all options and noted where a possible buyer may come from.

I thought it might take upto 5 years to find the right buyer and "reel them in" but in which case I would still be reaping the profits and then the sale price.

What I hadn't bargained on was the sale being completed 26 days after my 50th birthday! And for the full asking price!!

Rog

[Steve Barnett (Carpet Care Plus)]

It takes years to establish a business with a repeat turnover of 50k per annum.
Someone would pay decent money to buy a ready made business like that, especially if they can get there investment back in the first year.

[John Kelly]

Craig you have to remember you will probably not be selling to a carpet cleaner. So Joe bloggs who has maybe been made redundant may be quite happy to buy a ready made business which is going to give him 20k (plus potential ).

[JandS]

Like I said before it's only goodwill.
If the customers don't like you they won't use you.
If they have been looking for a way of nicely telling the seller that they don't want/need their services any longer but were too nice to cancel him/her,  or have someone else in mind who is cheaper,  then change of ownership is an ideal time to say bye bye.

[wynne jones]

If you dont ask you wont get. You just have to find the right person who wants a turnkey business with more money than sense. The guy with the remote control filling bath on Dragons Den will get his million off some idiot.

[Ian Gourlay]

I was discussing this with a Fire Alarm engineer yesterday who has Fire Alarms under a yearly Contract Service with Care Homes etc.

A lot of care homes are being taken over by Big Companies and then the Contract is lost at end of year.

The Experience in The Industry is 50% of Contracts are lost at change of ownership , one exception may be if the business is bought by a staff member who knows a lot of The Care Home Managers himself and is liked.

Advertising in Daltons Weekly or Some other agency is all very well but somebody has to want to pay it.

Do we know what % are sold and what price acheived/

At least you can check House Sales

[John Kelly]

I know of 2 sales recently. The one advertised in Hexham and Martins. Don't know if they achieved their asking price.