Small Businesses For Sale UK Directories
Find your ideal small business for sale in the UK
Small Businesses For Sale Directories are a resource of local businesses for sale, local news and a directory of small businesses & franchises for sale. The purpose of our business directories are to promote small, local businesses, entrepreneurship and to provide useful information and contacts to help small business owners and investors seeking small business opportunities via existing small businesses for sale or franchising. We have written each website with a small business focus networking with local businesses & resources to assist buying locally and promoting entrepreneurship in the UK.
Find your ideal small businesses for sale – click on your local area below:
Tips When Buying a Small Business
Going into business on your own can be very rewarding. Owning your own small business is not only associated with high rewards but as with any business involves some risk. When you choose to go into business on your own, you have the option of either starting up a new business or buying an existing business. Both options have pros and cons and will vary dependant on your own personal circumstances, skills and levels of experience. Running a new start up business can be very demanding so will take a huge commitment. Below we will look at a few buying a business tips.
Raising finance to buy a small business
When seeking financing for a businesses for sale, you will find that lenders will be more willing to finance the purchase of an ongoing concern as opposed to a start-up. Lenders will be willing to finance a tried and tested idea. It is also easier to evaluate the viability and financial success of an existing business based on its historical earnings than it is to estimate and make predictions for a start-up. This is why although all new franchises are essentially a business start up many lenders see them as an established business and they will have a track record of other new franchise owner ( franchisee’s ) that have also bought a business through a franchise opportunity. This copying of an existing business model is essentially the definition of a franchise.
Due diligence when buying an existing business for sale & professional advice
What is due diligence? Well due diligence with an acquisition of an existing business for sale is when you take professional advice to find out facts such as;
- The accounts and profit shown is correct as is the valuation of the business for sale
- You know exactly what assets and liabilities the company has, this could include long term finance agreements, leasing, contract renewals
When buying a small business for sale always seeking professional advice including advice from banks, lawyers and accountants and carry out thorough due diligence on any business before you buy.