Comments on: The Truth About Business Transfer Agents http://mybusinessagency.co.uk/2007/03/06/the-truth-about-business-transfer-agents/ Advice and news about buying and selling a business Fri, 21 Nov 2008 09:36:40 +0000 http://wordpress.org/?v=2.2.1 By: Business for sale http://mybusinessagency.co.uk/2007/03/06/the-truth-about-business-transfer-agents/#comment-208 Business for sale Mon, 04 Aug 2008 18:06:13 +0000 http://mybusinessagency.co.uk/2007/03/06/the-truth-about-business-transfer-agents/#comment-208 "It’s a difficult one, however it isn’t necessarily the right choice to use the largest Business Transfer Agent in the country." I totally agree with this statement, especially if your business has a selling price of less than about £250 000. The higher the price, the higher the commission for the agent and company. Your business might end up being a very low priority. Statistics show that around about 90% of businesses sold, are sold to buyers from the sellers immediate or nearby surrounding areas. So my advice is keep it local and, if you can, try to avoid being tied up in a sole mandate by a single broker and see if you can get your business to a few brokers. There are quite a few "No Sale, No fee" brokers out there and they are the ones most likely to push for the sale of your business. Alternatively you can have a go at trying to find a buyer without a transfer agent through dedicated website like http://www.business4sale.co.uk. Although you will need to use the services of a solicitor and accountant and you may ens up doing a bit more work to ensure a successful sale. Hope that helps “It’s a difficult one, however it isn’t necessarily the right choice to use the largest Business Transfer Agent in the country.”

I totally agree with this statement, especially if your business has a selling price of less than about £250 000.
The higher the price, the higher the commission for the agent and company. Your business might end up being a very low priority.

Statistics show that around about 90% of businesses sold, are sold to buyers from the sellers immediate or nearby surrounding areas. So my advice is keep it local and, if you can, try to avoid being tied up in a sole mandate by a single broker and see if you can get your business to a few brokers.

There are quite a few “No Sale, No fee” brokers out there and they are the ones most likely to push for the sale of your business.

Alternatively you can have a go at trying to find a buyer without a transfer agent through dedicated website like http://www.business4sale.co.uk. Although you will need to use the services of a solicitor and accountant and you may ens up doing a bit more work to ensure a successful sale.

Hope that helps

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