Earlier in the year, John Sweeney of Transworld Business Advisors was asked to support a business owner looking to sell her second business. She’d experienced the expert guidance with her previous sale, and didn’t hesitate to seek their guidance again.
“Vivienne had three beauty businesses altogether, which she had built up herself for a number of years. But she reached a point when she needed a break and to start slowing down. She approached Transworld about the sale of one of her business in 2018, and was so pleased with our support she didn’t hesitate to ask us for help again.”
The seller had appreciated the expertise of her Transworld advisor for the sale of her first business, so knew she could count on us for any subsequent sales.
The buyer was actually looking for this type of business, but initially wanted something in a different location. John says, “I showed the buyer a few options, including this one which was actually located in Central London. She fell in love with it almost immediately, even though it was in a different part of London to her initial thoughts.” Transworld’s network of business advisors have learned to recognise when a buyer is open to new opportunities, and when to show them a range of excellent opportunities – even outside the initial remit.
As with most business sales, the deal encountered a couple of challenges, which John was able to guide the seller through, based on the 40 years’ experience Transworld has in selling businesses. “Vivienne, her lawyers, and the buyer and I worked quite closely together, to achieve the successful negotiation and closure of the deal. It was this attention to detail and confidential support she knew she could rely on, and the reason why she likes using Transworld Business Advisors.”
There are times when the expertise of Transworld brokers are called upon during tense negotiations. “Having a third party you can turn to, who is not as emotionally involved in the sale, was a massive benefit during this particular occasion. Over the time we have been able to support Vivienne, a mutual respect has been established between us, which helps the process. Our best deals come when we have been able to create a positive relationship with both our sellers and our buyers,” John explains.
Since the sale of her second business, Vivienne took a much needed holiday, and has come back refreshed and ready to focus on new ideas for a strong 2020.
Quote from seller: “Transworld were excellent and very professional throughout the whole process. I felt so confident in their skills, I could concentrate my attention on my business. I didn’t need to think about what the buyer was asking for, worry about what was happening, or try to gather the right information for the buyer – Transworld had it all in hand. It was reassuring to be able to outsource it to someone who knew how to negotiate on my behalf.”
Thinking about buying a business in the health and beauty industry?
Read our Health & Beauty sector report.
Or find out more about our sales process for your business, click here.