I’m well aware that, as a business owner considering an exit, you have many options when it comes to finding help to sell your business. There are advisors and agencies who will provide a personal level of support initially but who might pass you down to other people within their organisation once appointed. Working with me as your business broker, what you see is what you get. In other words, it will be me working with you every step of the way from valuation to completion of sale.
And how many of these other agents or advisors have actually established, built and sold a business themselves?
Because I’m an entrepreneur myself and have built up and sold 4 businesses of my own, I believe I’m uniquely placed to help you achieve your exit. Bringing my experience to bear, I can help you plan your exit as a business consultant, if required, or I can simply act as your personal business broker, working in partnership with you and your accountant or other advisors to ensure we attract the best possible buyer for your business.
Why Sell Your Business?
The fact you’re reading this means you are at least considering the disposal of your business. So, what are the key drivers in taking the decision to sell?
These could be manifold, but retirement, illness, a desire for change or a new challenge, or simply to realise some capital in return for years of hard work, are all valid reasons.
One major advantage in selling your business now would be to take advantage of the current 10% rate of Capital Gains Tax under Entrepreneurs’ Relief, available for qualifying business owners. Compare this capitalisation of your future income to working a few more years and paying income tax (and NI) at the higher rates.
Current industry estimates show that there is over £2bn waiting to find a home in the UK through acquisitions.
Why Appoint John Knight as Your Business Broker?
Because of my track record in building up and selling my own businesses without recourse to a broker and because of my service ethic honed over years of servicing very demanding large, corporate clients.
I provide a personal and bespoke service on a one-to-one basis, so I can help you every step of the way. I’m the Managing Director of Strategic Business Exits Ltd, which specialises in handling sales of businesses with turnover in excess of £1m. I’m also South Birmingham & West Midlands Regional Partner for Business Partnership Corporate, a long-established and well-respected business transfer agency.
Establishing a realistic valuation is key to achieving your sale. I will sit down with you and your accountants and/or IFA to explore the various methodologies, including any unique selling points which might affect the value for certain potential buyers. Click on Business Valuations for more detail.
It is vital to set out a viable plan for your exit. This will include a review of the business and its performance to date, together with ensuring the business has structured plan aimed at maximising its value. For more detail go to Business Exit Strategies & Value Builder
Finding a Buyer
Your business may be marketed through the main business selling portals and websites where appropriate but I will also work with you and your advisors to ensure we identify key potential strategic or financial acquirers and agree how best to approach them. See Finding a Buyer for My Business.
I will work with you and your advisors through every step, from marketing & finding targets, initial offer & Heads of Agreement to the signing of the Share Purchase Agreement (SPA). Go to Business Disposals for more information.
Fees & Expenses
I am potentially flexible on how we structure our deal but, generally, my fees are made up of a monthly retainer paid up to 12 months (but credited back upon completion), together with a percentage commission on the eventual total sale price, payable upon completion.
In addition, there may be monthly consultancy fees for those clients who wish me to attend regular, monthly (or as appropriate/necessary) strategic or planning meetings as a consultant. In this instance, I may also charge for out of pocket expenses and mileage, where appropriate. All my charges will be subject to VAT at the prevailing rate.
For more information, please go to Costs Involved in Selling My Business.
Financial, Tax & Investment Planning
It’s vital to take early expert advice on the tax implications of selling your business. Also, you need to ensure your hard-earned money is invested appropriately to maximise returns.
Please see Tax & Wealth Planning