Buyers
Your experienced Business Broker
Buying Freedom - Buying a Proven Business - Buying Business Credibility
Buying a business is one of the most liberating experiences and one of the biggest opportunities to transform your life. Whether you are looking to buy a small business with a proven track record, or you are looking for your next acquisition to bolt on to you existing business to take you to the next level, we can help you achieve your aspirations.
Our team of experienced business professionals have all owned, operated and sold businesses all in varying sectors, which each of us specialise within. We cover the whole of the UK and have contacts up and down the country to keep all potential opportunities open to you.
The Opportunity
Buying a business with a proven track record can fast track your journey to success. When looking for a business, you should first decide what industry you have an interest in and decide on a budget. Some businesses are listed on the open market and can easily be identified, others are listed as confidential to protect the interest of the business, it’s employees and the current owners. Be prepared to sign a non-disclosure agreement to prohibit you sharing any information about the business you are enquiring about.
Once you have located the business or businesses you have an interest in, you can request further information, which initially will be limited until the seller has approved you to have more detailed information.
Accounts and financials will normally be shared once a viewing has taken place and you have met the owners, however some basic figures can be provided upfront so you can get an idea on how the business is currently performing.
If you and the seller are aligned in terms of suitability and price, a deal can be structured to work for both parties, and we can help both parties come to an agreement that works and we have experience to make the deal happen for both parties.
The Detail
One of the biggest stages is Heads of Terms. This is the document that we produce once the initial deal has been agreed. We detail all the specifics about the deal and how the deal will be structured, we then pass this onto the solicitors being used for the transaction.
Choosing a competent and experienced solicitor is key. Making sure you have someone who takes a balanced approach and advises you of the pitfalls and risks, and ensures you are protected from these as part of your purchase. We have a panel of recommended solicitors we can put you in touch with to help you with your purchase, who differ in industry experience, making sure you have the right experience on your side.
The purchase agreement can be very lengthy and will details all the information you have been provided about the business and also more due diligence that the solicitors will run through with you to make sure your investment is a sound one. The details of the deal may sometimes change if something comes out of the woodwork, which is perfectly normal and we are always on hand for our buyers to give help, advice and lend our experience to help you through the transaction to completion.
Hand Over
In most circumstances a hand over period is agreed at heads of terms and finalised in the purchase agreement.
This is your opportunity to soak up all the knowledge and experience from the seller and ensure you have access to all systems and procedures that are already in place.
Putting your stamp on a business is one of the many benefits of purchasing a business and for people new to business ownership, we provide you with new business owners guide and ongoing support post completion.
Business Funding
Thinking about how you can fund a business purchase can be quite daunting, however it need not be. There are various ways to fund your purchase, which we can help you with by connecting you to a panel of funders who we work with.
Unsecured Business Loan
You could borrow the whole or some of the business purchase costs dependant on the business type through an unsecured business loan, although some lenders may require a personal guarantee.
Secured Business Loan
A wider range of lenders will offer business loans if there is residential or commercial property to use as security for part or all of the business loan. This will open up your options and make lending slightly easier.
Seller Financing
In some cases, business sellers will offer some of the business purchase price through a defferment or loan agreement, based on the performance of the business this could make your purchase a reality.
