Selling a small business
Posted: March 22nd, 2020, 10:13 am
The owner of the small garage I have used for eight years, wishes to sell up and retire.
Small = four staff, two ramps, MOTs, servicing. Rented premises.
Thriving business, long-established, but he has been trying to sell for three years. Buyers with suitable experience seem unable to come up with the readies.
From my selfish pov, I would like things to continue, as they are classic-friendly and their MOT testers have always been decent chaps, but I feel sorry for the proprietor who wishes to get on with his post-work life.
What is the best way to market such a business? And would one hope for a one-off payment, or would it usually be spread depending on the outcome of ongoing trading?
V8
Small = four staff, two ramps, MOTs, servicing. Rented premises.
Thriving business, long-established, but he has been trying to sell for three years. Buyers with suitable experience seem unable to come up with the readies.
From my selfish pov, I would like things to continue, as they are classic-friendly and their MOT testers have always been decent chaps, but I feel sorry for the proprietor who wishes to get on with his post-work life.
What is the best way to market such a business? And would one hope for a one-off payment, or would it usually be spread depending on the outcome of ongoing trading?
V8