Clean It Up

UK General Cleaning Forum => General Cleaning Forum => Topic started by: The Great One on March 11, 2007, 11:49:48 am

Title: Business sell up help?
Post by: The Great One on March 11, 2007, 11:49:48 am

Hi All

I am thinking of finishing cleaning (been 4 years now) and getting into a different aspect of the industry.

I turned over just over £30,000 this year. My main business is EOT cleaning, office cleaning and Common ways. The office, common ways part is worth £3000 p/a and growing. The EOT cleaning is manic from April-october. I want to include my van in the price (Escort 1.8 diesel with contents) which includes a Kirby Vacuum. Also a year of yellow pages advertising

As I don't have actual written contracts I am not sure what the business would be worth?

It is located in Brighton/ Hove area, east sussex.

Any ideas?

Regards

Martin 8)

Title: Re: Business sell up help?
Post by: DREAM CLEAN on March 11, 2007, 02:36:07 pm

Hi Martin,

I'm in the process of buying a company and there are always going to be to two values,

sellers value and the buyers value.

2.5x nett profit is how my accountant values it
3 x nett proit is how the sellers valued it.

if you contact me I might be able to give some more help

Nick

Title: Re: Business sell up help?
Post by: Nathanael Jones on March 11, 2007, 03:19:24 pm

Without written contracts you may have trouble finding a buyer.
The buyer could be turned down by lenders when they tried to finance a venture where nothing is in writing.
But then, you may get lucky, either with a cash buyer, or an understanding bank.
Is it too late to get the contracts to sign on the dotted line? It could speed up the sale, and even increase the end value.

Title: Re: Business sell up help?
Post by: Karl Wheeler on March 11, 2007, 06:43:53 pm

Hi Martin
I am from the Brighton area perhaps we could meet up sometime.

Regards
Karl

Title: Re: Business sell up help?
Post by: The Great One on March 11, 2007, 06:48:32 pm

Hi Karl

Sounds great, lets meet up at Barneys in Hove, give me a time & date

Mobile: 07941 923903

Regards

Martin 8)

Title: Re: Business sell up help?
Post by: Karl Wheeler on March 11, 2007, 07:44:39 pm

Hi Martin
I use to be based in Horsham moved to Brighton last year. Trying to build up my business in the Brighton area as i have enough work at present up and around Horsham. Not sur ewhere Barney's is but will give you a call Monday and Tues. Are you gouing to the cleaning show?

Karl