Ten questions to ask a seller before you buy their business

There are many key issues to take into consideration before you buy a business, and the seller can sometimes be the best source of information if you open up channels of communication. However, it's important to ensure you ask the right questions to get the answers you'll need to make an informed decision.

We've put together a list of the top ten questions you should ask a seller before you consider making an offer.Continue Reading

Seasonal sales: how to market your business for the Christmas period

It’s the most wonderful time of the year, especially if you are a business looking to make the most of the commercial holiday. The Christmas period through December is the time for merriment, shopping and spending, so as a business, why not capitalise on the festive season?

Naturally, with the yuletide season approaching, people’s moods are light and cheery – perfect for forging connections and relating to your customers from ... Continue Reading

How to contact a business you want to buy

So you want to buy a business, but perhaps you're not sure where to start. There are many methods of initiating your purchase and each has its own pros and cons depending on your circumstances. Additionally, when you're navigating the potentially complex obstacles associated with buying a business, it's vital that you enlist the help of a resource you can rely on, making your decision even more important.

We've p... Continue Reading

How do you achieve a fast business sale?

A business sale can often take a long time, sometimes as much as a year to get from enlisting the business on the market to shaking hands to finalise the deal. But there are ways to speed up the process.

A fast sale can be completed in a matter of months, perhaps even weeks in some instances, if all the right matters are in order and a certain deadline is in place. Here are three tips to hurry along the sale, and to ensure the trans... Continue Reading

Do I need a broker to sell my business?

If you’re looking to sell your business, there may be a number of questions going through your head. A broker can assist with streamlining the sale process for you and find you a pool of buyers. But using a broker is not mandatory and selling your business without one is actually possible.

In fact, brokers can be redundant where you intend to sell the business to family of a friend, because you’ve already found your buyer. Essen... Continue Reading

Digital transformation and small businesses

When you think digital transformation, you may be thinking of large corporations in high rise buildings with mountains of IT staff making all sorts of technological changes.

But in the interests of operating efficiently in this digital age, small businesses are also in need of digital transformation and it is certainly an area worth getting on board with. And this is even more important if you have just bought a business or are thin... Continue Reading

Turning passion into profits

“Do what you love, and you’ll never work another day in your life.”

A powerful statement, with an underlying sentiment that is very true. You don’t need a degree in psychology to know that humans naturally tend to enjoy the things they excel in, and this is no different when it comes to business ventures. As much as buying and establishing a business is all about assessing the market and making a worthy investment, personal ... Continue Reading

Want to go into business with your family?

There is a special bond between brothers, sisters, parents, and extended family members. But is it special enough in that you can go into business with them?

Going into business with your family can be a good idea if done right. After all, they are people you like and can trust.

There are of course stories where families have fallen out over business disagreements. But a lot of these situations seem to arise from a lack... Continue Reading

Acquisition complete... now what?

You’re now a new successful business owner. You’ve gone through all the steps, finalised the purchase, and can proudly say you own an established company that generates revenue and a reputation to its name. But now what?

You may be brimming with ideas for change and ways in which to scale the business, but it’s important you assess your limitations and know exactly what your next steps are before going forward. It goes without ... Continue Reading

Why do I need an exit strategy?

You may be thinking: "my business is going well, why would I need an exit strategy?" But an exit strategy is not something that you have because your business is not doing well. An exit strategy is something you have in case you want to leave your business at some time in the future. After all, you don’t know what the future holds.

A draft exit strategy will ensure you have a plan when something unexpected happens and you wish to ... Continue Reading

Are you selling your convenience store?

The attraction of a convenience store is very simple - you're providing your customers with convenience. When all other stores are shut, you’re the solution to last minute snacks or essential toiletries. So if you’re in the market to sell a convenience store, you have a valuable product on your hands.

But the product on its own is not enough to get the best possible price. You are in a good negotiating position but there is... Continue Reading

Is B&B a good business choice?

You may be toying with the idea of running a B&B, especially with the convenience of living in the same place as your work. Long work commutes can be quite off-putting and a B&B is definitely a way to avoid any sort of travel for work.

Accounting for a fifth of the UK’s serviced accommodation industry, there is definitely something attractive about this business venture.

A B&B can be extremely rewarding, as you are p... Continue Reading

What is the best kind of business for you?

A lifestyle business, especially if you are starting it from scratch, needs to strike the perfect balance between personal fulfilment and profit. But when the market is this diverse, there are a number of avenues you could pursue as you establish an organisation.

If you are looking to move away from a more hectic corporate environment, you may want to consider a new venture that encompasses a flexible working timetable in terms of s... Continue Reading

Have a taste for a cup of joe?

The British may be known for their love of tea, but the reality is that 70 million cups of coffee are drunk every day by Brits across the country. And with coffee being the second most desired commodity behind crude oil, it’s clear there is a lot of money and potential in the industry.

In today’s society, coffee-drinking can range from being a daily necessity to kickstart the morning or boost concentration, to being a sophistica... Continue Reading

Case study: top five places to launch your business

The number of small businesses in the UK is on the rise and the statistics are there to prove it. At the start of 2017, there was a record number of 5.7 million private sector businesses. This is an increase of 197,000 since 2016 and a total increase of 2.2 million since 2000.

Small businesses accounted for 99.3 per cent of all private sector businesses at the start of 2017, of which 99.9 per cent were small or medium-sized enterpri... Continue Reading