When you start your ownbusiness with Transworld Business Advisers, what kind of deal could you…
Transworld Business Advisors were approached by a seller keen to focus his attentions on a new venture. Having lost one potential buyer, how could broker and MD, Henry Ziff, help him sell his online health and beauty business?
When Transworld Business Advisors of London were approached to help sell an online business, it required Henry Ziff – who owns the franchise – to draw on his previous experience alongside the training he’d received from Transworld Business Advisors. “With any deal,” he says, “emotions quickly become involved in the process, and it’s important to know how to manage the relationships of all parties.”
Transworld Business Advisors has been supporting the sale of businesses, on a global scale, since 1977. The strategies the franchise network of 235 offices uses have been proven to be the most efficient to benefit our clients, through any challenge of a deal negotiation.
As a serial entrepreneur, the seller had taken the business as far as he could, and was ready to sell it, to move on to his next project. However, he had already lost one buyer earlier in the year. Although mentally, he had moved onto his next venture, Henry still needed to support him through the actual sale. “We worked tirelessly to help find a second buyer for our client,” he explains. “Eventually we were approached by someone who had seen some of our targeted marketing. He already had a beauty business; and in order to grow it, he wanted an online health and beauty opportunity.”
The business previously, had been part of a physical retail store, but the seller had concentrated his efforts on meeting online demand. One of the biggest challenges Henry faced, was as a result of the business only having gone through its first development lifecycle. “We always explain to our sellers the importance of having good books and records. Because of the newness of this business, the due diligence process became more challenging than had it been more established.”
Henry overcame this problem by understanding the requirements of both the seller and the buyer. “In order to best present the business to our second buyer, I needed to carry out a more detailed analysis of the business. This enabled me to pull the right information I knew the buyer wanted to see.”
Originally listed at £150k, the deal was agreed at a healthy £120k. “The buyer was keen to complete the transaction relatively quickly, ready for Christmas trading. Having been in the industry for a while, he knew gifting is a massive part of the health and beauty market. And the seller was already working on his next business. So this was a timely outcome for all involved.”
You don’t need to have had previous experience with business brokerage, as Transworld Business Advisors will fully train you in their proven methods. So, if you are curious about how you might handle the challenges of a deal, please contact Henry on: 0203 911 1059.