Whether you’re looking for a way to finally enjoy your retirement, or hoping to fulfil your dream of owning your own business, it is essential to have an advisor you can trust.
When you run a small, family-run firm where you take more of a hands-on role, it can be difficult to accurately demonstrate the value of your company to a potential buyer. After all, you’ve been focusing on keeping the business running for your entire career, rather than demonstrating its value for your exit strategy.
So, when the husband and wife owners of an ironmongers decided to retire, they knew finding the right exit strategy in the current climate wasn’t going to be easy. Though the buyers in this case were experienced retail managers, and understood the potential of the business, they were also cautious about the long-term impact of the pandemic on sales. They wanted to be sure of both the company’s current value, and its long-term prospects, before making a commitment.
Fortunately, they made the choice to work with Ken Gorman, from Transworld Business Advisors of London South West. Using his extensive experience and expertise, Ken deployed various strategies to market the business effectively; whilst developing strong relationships with both parties. By conducting an in-depth assessment of the company’s trading history to establish a solid financial baseline, Ken secured a mutually beneficial deal.
When you have a business advisor guiding you through the sale process, you need to feel confident they are truly on your side, and will help you create the right deal for your business, and the market. As Ken explains, “Though we very quickly constructed the deal, these problems can be very common. We have to do all the financial engineering very carefully, as it is a very complicated process. There are various elements involved in a transaction, and the final deal is about so much more than just numbers – there’s a huge people component to it, too.
“As a business advisor, I have to care about both my seller and their buyer,” Ken continues. “we really do take a journey with people; so they have to trust me and my team, implicitly. I want them to feel confident in me, as their advisor, and to experience for themselves a happy conclusion to the deal. For many of my clients, whilst they are ready to move to the next stage, it is still a very difficult time for them, as they transition out of something they have grown from scratch.”
At Transworld Business Advisors, we are committed to working with you as the person behind the deal. We work closely with both you the seller and the buyer to understand the decisions you are making, so we can help to create a deal which works for both parties. We firmly believe in taking our time to invest in the relationships with our clients, whatever your goals and aspirations.
If you’re looking for brokers who pride themselves on their reputation for objectivity and trust, it is time you called Transworld Business Advisors.