Typically the choice when selling a small business is to engage a broker or to try to sell the business yourself. SellMySmallBusiness.co.uk sits between these 2 options and the table below illustrates the differences between each approach:
Typical Broker Service
Pros
- Professional Advice
- Guidance on Price
- Visit the Business
- Attend Buyer Meetings
Cons
- Expensive and typically Partial Payment Upfront
Costs
Typically £3,000 upwards
The SMSB Service
Pros
- Professional Advice
- Guidance on Price
- Pick and choose help to manage cost
Cons
- Don’t visit business
- Don’t attend buyer meetings
- Payment Upfront
Costs
From £495
Do It Yourself! (DIY)
Pros
- Complete control
Cons
- No professional advice
- No guidance on price
- Unlikely to maximise price
- Payment upfront
Costs
£750*
* assuming 6 months advertising on same websites as used by SMSB
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Probably the only reason to try the ‘Do It Yourself’ option is if your business is very small and you think you can find a buyer through very local advertising, and word of mouth to customers, suppliers etc
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If you want to market your business on the major business selling websites, you should talk to us first—at worst you will get some free advice and at best we will save you money.
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If you think your business is worth more than £150,000 and it is important to you that you have some support at a buyer meeing, then a fuller broker service may be more appropriate – if you call us we will give you our honest opinion.
Call or email us today to talk about your small business
For an initial chat with no commitments call SMSB to talk about how we can help you and your business.