Words: Holly Dibden
Photos: Marc Baker
It’s been almost two years in business for David Neale’s latest enterprise, Business Selling Experts, but he’s had a hand in running businesses for much longer than that.
After years building a variety of different enterprises, he came to realise that the part he most enjoyed was selling them. The traditional brokerage market has its challenges, but David’s experience means he can create a more ethical and effective way to buy and sell businesses, with a focus on proper valuations and real buyer engagement.
If you’re at the helm of a business and are starting to consider an exit plan and don’t know where to start, we’ve created a quick guide with David on the key elements to consider when selling a business, how to make your businesses sellable and how BSE could be the right choice for you.
- No buyer wants to buy a job
If you’re a director and you’re wearing every hat, managing HR, payroll, admin, taking calls – then the business isn’t ready for sale. Effectively, buyers aren’t interested in buying the hardest job in the business. David emphasises how the business must be able to run without you. BSE offer specialist advice and can help owners get to a place where their business runs without them, often recommending the outsourcing of some tasks to lighten the director’s role. - You must have effective processes in place
“It’s a buyer’s market out there, there are more businesses than buyers,” David explains. It’s important to be attractive to buyers; if there are other businesses like yours for sale and all their ducks are in a row, that business will be more desirable. It’s imperative to have all your processes in place; marketing, sales, recruitment, growth, and strategy, so that the buyer can see the businesses functionality. - Get a true valuation of your business
If you are a director looking to sell your business in preparation for retirement or reinvestment, it’s likely you’ll have a price you want. David explains: “The seller has a figure in mind, and the [traditional] broker just lists it at that price, without properly evaluating its worth.” With BSE’s ethical selling procedure, David’s financial team offer free evaluations, to show to sellers the strengths and weaknesses of their business. If the business isn’t where the seller wants it to be, David’s team have easy to follow plans to help sellers get to the valuation they desire. - Finding the right buyer
Ideally the right buyer is someone with expertise and passion in your sector. Sellers don’t just want to sell to anyone, and buyers don’t want to buy something they have no experience in. Over time, David has built up an extensive network of buyers and acquisition specialists, enabling BSE to match entrepreneurs with the right opportunities, facilitating seamless and smooth transactions. “It’s something at BSE we pride ourselves on doing exceptionally well,” David says. - Money back guarantee
Often with traditional brokers, businesses would be listed online and stay stagnant waiting for someone to bite. Sometimes these listings are active for years, with the broker happily getting paid a listing fee with minimal intent to sell. Business Selling Expert’s practical approach means they don’t list on websites, they guide and support clients through the process with communication at every step of the way.
If Business Selling Experts don’t sell your business within 12 months, they offer a Money Back Guarantee. (See T’s & C’s).
If you’re looking for a personal and ethical approach or want expert advice on selling your business, or are interested in exploring buying opportunities, contact David and his team at info@businesssellingexperts.com.
