Are Exit or Acquisition options that you may be considering?
I have worked with a number of clients over the years with the main focus on establishing a strategy to EXIT the business.
Two current businesses that are for sale at the foot of this blog.
However the best advice I can give you is, start early if you are planning to step away from the day to day. Ideally you should have had an exit plan when you started the business. So certainly establish one as soon as feasibly possible.
The intention maybe to sell to the highest bidder, hand over to the children, as one client of mine did successfully back in 2016 or structuring and establishing a Management Buy Out (MBO).
However another option to consider would be holding onto the business and just becoming the chairperson.
You will have created a plan to start the business and you will certainly need one to sell the business too.
And as a buyer there will be some key areas you'll need to evaluate.
To sell a business on an on-going basis.
1. Ensure you have up to date and robust financials, that show growth year on year or at least ongoing gross and bottom line margin improvements,
2. Develop a strong customer base and have testimonials to prove the "value added" your business offers.
3. Ideally create a contract renewal, annual service and maintenance portfolio, as this becomes very attractive to a buyer. As a secure forward stream of income often can increase the value to a buyer.
4. Establish a tight ship, so minimise overheads, secure good stock control and manage expenses in line with industry averages.
5. Work on creating a strong and reputable brand, as this can be a valuable asset too.
6. Finally and the most important, ensure the business can run without you, day to day, i.e. have a succession plan, a deputy, manager whom takes care of all aspects of the business.
Don't underestimate the time it takes to market, attract potential buyers, negotiate the price and terms, plus go through the due diligence process and legal transfer of undertakings to complete a sale of your business.
The sale process can sometimes take up to a year and certainly 6 months as a minimum.
Enjoy the outdoors and traveling around North Cumbria and the Lakes?
Would like more spare time for personal interests and hobbies?
Have a 5-10 year plan before you wish to slow down.
Always wanted to run and own your own business?
Prefer to continue social distancing and have no direct physical contact with your suppliers, customers, or end users?
Prefer to work flexible hours and not 9-5, 5/6 days a week.
Obtain the benefit of taking over a well-established business and not start from scratch.
Industry leading fully systemised management system. From customer online booking to delivery planning and invoicing. Requires approx. 1 hour admin per day.
No need to chase customer payments and all client relationships well established.
Currently 3 employees plus owner. 1 full time and 2 part time and would ideally suit a couple or family to manage and operate the business.
Current owner chooses to work 3 days per week, but scope to take higher earnings by doing more hours.
Profitable. Average 79% gross margin and 20% net margin over the last 8 years.
Strong market share and loyal customer base however, with the opportunity to grow the business a further 15-20% by expanding the area, should you desire too.
Future proof, the business cannot be replaced by technology or robots!
Be part of a national branded network, which includes a full on-boarding support package and on-going support and training
Want to know more?
If serious and no agencies please contact
Acting as agent
Looking for a new business opportunity?
Something which is not just established, but which you can also develop further?
Successful Carlisle City centre business for sale on an on-going basis.
Current owners willing to support and work with new owners through a transition and hand over period.
A popular fully licensed bar which also currently serves quality bar food, catering for vegetarians, vegans along with offering traditional fare.
"Great venue, great vibe, wonderful staff
Dog friendly too.
Well situated in the Carlisle City centre and on the main thoroughfare between Carlisle Station and onto English Street and the cities tourist attractions.
Strong loyal customer base and busy at peak times throughout weekends.
Strong reputation for craft beers, vegan beers, wines and current owners have a great relationship with the major breweries and suppliers.
Property lends itself to private functions and can be split for different purposes and events.
Two floors, with internal and external tables and chairs, along with varied seating arrangements indoors.
Revenue predominately made up of wet (drink) sales however loads of scope and opportunity to develop the food offering further. Whether bistro or developing casual dining experiences.
Can accommodate 35-40 for private events and over a weekend has capacity for circa 100 people at any one time.
Rent (leasehold) rate agreed with a flexible landlord till end 2024
Carlisle is a regional city with a population of 110,000 and a further catchment of 100,000 within 30 minutes from surrounding towns and villages.
Carlisle also receives approx. 9 million visitors per annum which generates £558 million throughout the year, whether for social and shopping, visiting the historic sites in the city or as part of stop off for Hadrian Wall Path or Hadrian's Cycleway along with visitors from the Lake District and the Scottish Borders.
Should you be interested and require any further information, please contact myself.
Acting as Agent