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Business Advice

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  • 19-08-2014 7:29pm
    #1
    Irish business19
    Registered Users Posts: 2 ✭


    Hi

    I'm looking to get some advice. I have a small business which I am thinking/hoping of selling to a bigger company. Any advice on what steps I should take?
    I'm also concerned about data protection? Any information on that?
    Any help would be great
    Many Thanks


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    #2
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Irish business19 wrote: »
    Hi

    I'm looking to get some advice. I have a small business which I am thinking/hoping of selling to a bigger company. Any advice on what steps I should take?
    I'm also concerned about data protection? Any information on that?
    Any help would be great
    Many Thanks

    How many guesses do we get, or are you going to mime/give us more clues :pac:

    Seriously though, give us at least some info to work with?

    The type of business would be a good start. There's a few existing posts on valuing/selling a business. Search function at the too of the main forum page should help.


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    #3
    Irish business19
    Registered Users Posts: 2 ✭Irish business19


    Graham wrote: »
    How many guesses do we get, or are you going to mime/give us more clues :pac:

    Seriously though, give us at least some info to work with?

    The type of business would be a good start. There's a few existing posts on valuing/selling a business. Search function at the too of the main forum page should help.


    Thank you for your reply. Yes business type would help! ðŸ˜႒ It's a property lettings business. Thanks for the info will check existing posts


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    #4
    pedronomix
    Closed Accounts Posts: 997 ✭✭✭pedronomix


    very hard to sell a low barrier entry business as your likely buyer is a probably already established in the market. First issue is to establish a proper price, subtract your own income from the VAT exclusive annual sales and multiply it by a number 3 to 5 as a rough guide. Would you be happy with that number?


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    #5
    TheCostumeShop.ie: Ronan
    Company Representative Posts: 1,740 ✭✭✭TheCostumeShop.ie: Ronan


    You need a mentor there thats been through it all. Have you been approached or you looking for an out?

    Businesses need to be prep'd for sale, you cant just run a business and expect it to be valuable, even if its profitable. You need structures in place that are valuable to an acquirer. Small businesses are very hard to sell as often replacing the owner who worked 100 hour weeks with a comparable CEO takes a lot of the profit off the table, or they can take all the good will and know how with them.

    Even though some of us here have been through exits before, its not something you can discuss in public on boards like this as value is specific to each business and the acquirer might be looking to purchase your business for a completely different reason than you think. For example the team might not be needed but the IP is worth stripping the rest of the company for. Or it could be a simple expansion by acquisition.

    Point being dont go it alone, usually you'll get an offer subject to due diligence and then an experienced company will discount and chip away at that price as they find weaknesses.


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