Announcement

Collapse
No announcement yet.

Retiring in a year. How to sell existing business.

Collapse

Qualtex

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Retiring in a year. How to sell existing business.

    Ok. Like most of you, I'm a one-man appliance repair business. Have website, phone number, advertising with Yell, listing on google, lots of good ratings and feedback etc. Has anyone any knowledge on how to sell/transfer my current empire, and the complication it involves. Don't want to just shut-up shop because it's quite profitable for someone who does not want to be a millionaire.
    Based in Fife and currently on 4-5 jobs a day if anyone knows an interested party.

  • #2
    No replies then Den.
    I'm in a similar position but itís not looking good

    Comment


    • #3
      not far off you myself. problem is its specialised. If it was a news agent then anyone could do it, but we have to be Mechanics, electrical and a knowledge of electronics with the ability to solder small components. All this and a logical brain to work our faults

      so your probably down to someone who is already in the trade looking to leave a manufacturer

      Dave

      Comment


      • #4
        Originally posted by electrofix View Post
        not far off you myself.
        Dave
        Your'e still a youngster Dave, well at heart anyway

        Don

        Please keep your questions to the forums, emails and private messages will not be answered.

        Comment


        • #5
          Trouble with being a sole trader is that the business is YOU.

          It's hard to put a price on years of good will and a mobile phone.

          As Dave says the best option may be to flag down someone in the next Indesit van you see and ask them if they fancy taking the job.

          I would be looking to give the business way to the right candidate rather than sell it for a couple of hundred to anyone.

          Good luck anyway Den,

          Comment


          • #6
            If you work from home then I would say it's more trouble than it's worth to sell the business as if the person is no good you could get people turning up at your front door.

            I retired 2 and a half years ago and just closed the business as it would be unfair to all your loyal customers if you passed them on to someone not up to your standard.

            Another thing it would be hard to find an engineer willing to give up there job if they have no experience working for themselves.

            If you still decide to sell I would approach one of the work providers to see if they wanted to buy the name and website so your work would be directed to them.

            Bob
            Last edited by SAMURI; 29-04-19, 06:58 PM.

            Comment


            • #7
              Sadly I have to agree with Bob. I finally retired just over 12 months ago, sell the business, I couldnít even sell a shed load of spares. I sorted them into specific lots as I didnít want to try and sell thousands of spares piece by piece. Put them into the forum trade shop window and only managed to sell a box of carbons brushes. Around £200 worth of brushes at trade prices went for £20. The other boxes of almost all current spares hundreds of £ís worth on offer for £25 to £35 a box got no response. Finally gave most of them to a forum member and ex colleague from my Hotpoint days and put the rest in a skip.
              Nothing really matters much, and hardly anything really matters at all.

              Comment

              Cheap Spare Parts

              Collapse

              Affresh

              Collapse
              Working...
              X