Laying deep roots in the retail, licensed, leisure and hospitality sectors, Kings Business has established itself as a prominent business broker with a proven track record of successfully handling the sale of thousands of small and medium sized businesses over the past 30 years.
Our dedicated team is committed to going the extra mile and providing a client focused, personal service with in-depth knowledge of markets, processes and requirements.
We find innovative solutions to ensure deals complete at the sale price that has been agreed to accelerate wealth creation for our clients.
THE BUYING PROCESS
Constituting 17% of the UK’s GDP, the retail, licensed, leisure, food and hospitality sectors offer an array of opportunities as varied as they are numerous. However, without the correct guidance the process of finding a perfect business that matches your acquisition requirements can quickly become an overwhelming and time-consuming experience.
As the vast majority of our business sales are of a confidential nature, most vendors will not want to engage in direct communication with a potential buyer. Therefore, Kings Business will act as the intermediary between yourself and the seller. This minimises the opportunity for an unsolicited public announcement of the vendors intention to sell, protecting the levels of staff and client retention at the point of transaction.
At Kings Business, it is our role as a business broker to ensure that the process of finding your next business opportunity is as stress-free and efficient as possible. Once registered with us, you will receive regular communications with a shortlist of businesses that match your search criteria. In addition to this you will have access to a team of experienced negotiators available to guide you through every stage of the buying process.
THE SELLING PROCESS
With over 30 years of experience in successfully selling our client’s businesses, Kings Business has cemented itself as the one of the prominent brokerages in the UK retail, licensed, leisure, food and hospitality sectors. Whether you are wishing to retire, realise your investment, are looking for a new challenge or looking to obtain capital for your next business venture, we are here to assist you achieve your business sale goals.
Whatever your reasons for selling your business the market, at Kings Business we understand the importance of ensuring you are duly rewarded for the years of hard work and commitment you have invested into your business. To ensure that the sale reaches completion, we will let yourself and the buyer know what will be required from you at every stage of the sale.
It is our role as your business brokerage to not only find a buyer who can pay an acceptable price and market multiple for your business, but also fits the ethos of the business. To facilitate this, our in-house marketing team will formulate an intelligently crafted marketing campaign. Through engaging in a variety of marketing channels, including business for sale websites and where relevant sector publications, we can get your business viewed by existing market operators and prospective market entrants alike.
How long will it take to sell my business?
This time will vary greatly depending on the business. There are multiple factors to consider; how readily available you are to conduct viewings of your business, the market, the locality, whether you have the right sort of solicitor, and how long the Due Diligence process will take. We advise sellers on every step they can take to speed up the process.
How important is confidentiality?
Confidentiality is vital to maintain the level of staff and client retention throughout the sales process, with most of our clients opting for a confidential sale.
How would you appraise my business?
One of our experienced Associate Directors will pay you and your business a polite visit and conduct a business appraisal. It is in this appraisal where the fundamental details of the sale will be agreed, such as the tenure. During this appraisal, the Associate Director will conduct a market appraisal for your business, and a guide price will be set. This appraisal will be based on both the details of the business, and the current market climate.
What will be involved in the due diligence process?
The buyer will need to carry out legal, commercial and financial due diligence.
Can I decide if I sell my business on a freehold or leasehold basis?
If you own the freehold for your business premises you will have the option to include the bricks and mortar value of your premises within the asking price, or you can choose to retain ownership of the premises and create a lease agreement with the incoming owners, providing you with future rental income. If you currently lease your business premises, you will need to transfer your lease agreement to any incoming owner.
I'd like to sell my business. The profit is around xx% gross, is that appealing to a buyer?
Selling a profitable business is an attractive proposition for a buyer. However, buyers are more interested in looking at net profit rather than gross profit. If you are looking at maximising your business sale profits, find practical ways of enhancing your business profitability by either adding to income or reducing costs, or ideally both.
What documentation would a potential buyer want to see?
A potential buyer will more than likely want to view your past 3 years of full trading accounts and a comprehensive asset list, in addition to copies of any relevant insurance certificates and licences. There may be additional requirements which we can provide guidance upon.
Do I need to provide a handover period?
Depending on how specialist your business is, it may be appropriate to provide a handover period. The seller is asked to stay on as a consultant to help with the transfer. Management and introduction to current clientele base.
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