Business Buyers and Sellers Tips!
What do you need to know ?
What Buyers need to know is:
- Are the employees going to stay on?
- If they leave what can they take with them? – Customers, knowledge, experience, the company’s credibility.
- What commitment exists between the parties for the future?
- Do they know it’s for sale?
- Why don’t they buy the business?
- What is their history?
- What are the employee’s future goals (individually?)
- Can I provide the key employees with a career path?
- Having entitlement provision handed over on settlement.
- Finding out who are the “key” people.
- Which employees have strong relationships with major customers and service suppliers?
- How easy is it to recruit more employees?
What Sellers need to think about ?
- Stable trading.
- Not losing Key Staff.
- Provision for entitlements to be passed over to the buyer.
- Maintaining confidentiality.
- Retaining staff.
- Knowing how, and when to tell staff that the business is being sold.
- Getting the best possible price
- Why they should pay us the commission.