We dont' like cliche phrases, but it certainly carries an element of truth. Valuing going concern businesses since 2001 Richard Payne has learnt that although this can often be a relevant comment, there still has to be a starting point for negotiations. A rule of thumb, a guide on market value, a sensible figure that a lender, financier, or acquisition client will concur with (even cash buyers like to keep their money in the bank) so a buyer loan is often involved somewhere in most business sale transactions. I suppose it can be compared to selling houses, whatever the selling price agreed, it still has to stack up on value when the mortgage surveyor arrives. With business sales broking whether Leasehold or Freehold, asset rich or not, all Hospitality businesses are different, there are contrasting parameters to consider, different ways of valuing, varying multiples, calculations, and in our opinion each should lead back to a similar starting figure/asking price. As a broker and not accountants, we are also best placed to know the values, by looking at what we have previously sold, what it sold for, and consulting our national comparables' database.
We are proud to have access to weekly 'national hot buyer' meetings, and a deliberately well crafted and generous mix of bespoke marketing, advertising, and buyer reach techniques tailored to your needs. Buy-side or Sell-side this rarely fails to maximise exposure and interest. With a unique mix of Online Portals, Social Media, In-Print & Journal Marketing, 'Purchaser Matching' and CRM systems, your advertising and marketing schedule will remain in place for the entire duration of the time you are on the market with us and is outsourced to those marketeer types who know presentation best.
During the past couple of years and largely due to the Covid-19 lockdowns, I have become very good at remote valuing, giving my advice in a new way, valuing and listing your business for sale but over the telephone and or Zoom and Teams if required. Building relationships, but still giving 100% service and support whether you're selling now or in the future. This has also speeded up the process for anyone looking to sell without time on their side. No more waiting on a regional valuer to fit it in their diary, or finding an incognito moment to meet us when the staff are not around. Chartered Surveyors have been carrying out what are called ‘spot values’ or ‘drive-by valuations’ for decades now without the need for a formal visit, but with all the new technology available to us including Google Earth, Maps, Images, ProMap and much more, it’s far easier to pinpoint the correct guesstimate. Our advice, the process, and achieving results are every bit as good as they have always been. Now that we are exiting Covid, and we're thankfully back mobile, if you’re more of a face to face human being we're always happy to pop out to see you in person over a coffee and a confidential chat.
Drop us a line with some basic information, and one of our team will be happy to contact you to discuss values and the potential saleability of your business ....
Assuring you of our best attention, confidentiality, honesty, and integrity, at all times.
Richard Payne In Estates Gazette 2016
"the most important consideration for any vendor when looking for a 'Sell-side' broker, is the type of reputation and long established sector experience that broker has. Lots of happy clients nationally both private and corporate, and the ability to prove nationally completed deals. NOT the broker with the best branding / largest promotional spend at Saatchi & Saatchi, or bulk media commentary"
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