Buyers or Dreamers

I’m not sure whether it’s Brexit or mid-summer madness but we seem to be inundated with buyers who want to buy a business using other people’s money. Last week I had a crowd who claimed to have “access to PE firms to raise funds and won’t need financial support.” They made an offer of £2m to buy a business making a profit of over £600k pa and with nearly £2m of Net Assets of which £1m was in cash. But the offer was to pay £1m on completion and the rest over 4 years.  When I had the temerity to point out that their offer meant that they were only paying on completion an amount equal to the cash at bank figure and made no allowance for the goodwill premium, they got upset and called me unprofessional! Really? Do these people think that we are so stupid that we don’t understand highly financially engineered offers?

There is a worrying and growing trend that all sorts of people seem to think that they can buy a business by borrowing against its assets and then getting vendor finance for the balance. You can’t!! As I keep pointing out, why would a vendor lend what is effectively their pension pot to a complete stranger? At Turner Butler we are now pushing back hard against these sort of buyers, they are a waste of our and our vendors’ time. If you are one of them please don’t apply for a business being advertised by us, you will be given short shrift and even if you threaten me with physical violence (which has now happened on two occasions!) it will not make any difference.

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Buyers or Dreamers

YAP Bridal Boutique In Newcastle Upon Tyne Sold By Turner Butler

Turner Butler is delighted to announce the recent sale of Yap Bridal Boutique in Newcastle upon Tyne https://www.yapbridal.co.uk/ . “This was a super business” said managing director Rupert Cattell, “The business was started by Jo Stott many years ago and she has built it into the pre-eminent wedding dress boutique of the north east.

It went under offer extremely quickly and the sale was completed within three months of being listed. Danielle Hesketh is the new owner and I have no doubt that she will continue to grow the business and further enhance its reputation.”

About Turner Butler

Looking for a Business to buy? The Turner Butler service is free to buyers. Please visit www.turnerbutler.co.uk to see all our businesses for sale.

Looking to sell your Business? We would be pleased to carry out a free confidential business valuation for you. Simply telephone us free on 0800 028 9999 to arrange an appointment with an experienced business valuation expert.

Client Satisfaction is very important to us at Turner Butler. Do please take a moment to read what our satisfied clients have to say about us http://www.turnerbutlertestimonials.co.uk

Turner Butler is delighted to announce the recent sale of Yap Bridal Boutique in Newcastle upon Tyne

Turner Butler featured in the Growing Business Handbook as recommended by the IoD and Lloyds Bank.

The Growing Business Handbook- Inspiration and Advice from Successful Entrepreneurs and fast growing UK Companies.

“Because of his many years’ experience of the business sales market, Turner Butler’s managing director Rupert Cattell was asked recently to contribute to the highly successful Growing Business Handbook recommended by the Institute of Directors and sponsored by Lloyds Bank.”

Read the Complete Article.

Turner Butler featured in the Growing Business Handbook as recommended by the IoD and Lloyds Bank.