If They Hate You Badly Enough, Nothing Will Stop Them from Complaining

For the RTA Business complaints series this week we want to show why, if they hate you badly enough, nothing will stop them customers from complaining!

Potential Buyers Take Complaints Seriously

When you come to RTA Business, either looking to sell your or looking to buy a business, we make sure that you get what you came for. Either, we’ll make sure that you walk away with a decent profit for the sale of your business, or that you buy the company that’s right for what you need.

That’s why we’ve taken the time to explore complaints in depth. Nothing can sink a business sale like a complaint. If a potential buyer finds out you’ve had a string of complaints lodged against you; they’ll scarper in a heartbeat. It pays to make sure you avoid customer complaints.

The Shame Factor

This week we want to turn our attention to more sensitive industries i.e. the loan industry. Often, the perception tends to be that if you own a company that operates in this industry, you can get away with more, because people aren’t going to complain.

Why? Most people, especially if they fallen into debt, don’t want to shout about the fact that they’ve taken out a loan. Whilst that might be true, we would argue that you still need to prioritise customer service, because if you make them mad enough, it doesn’t matter how ashamed they are of having taken out a loan, they’ll hate you enough that they’ll decide that bringing you down is worth the small sacrifice of making that information public.

Case In Point: The Payday Loan Industry

Let’s take the payday loan industry as the perfect example. Recently the Independent reported that the Financial Ombudsman has revealed that complaints about payday loans have doubled in the past two years, ‘despite,’ the “shame factor” that formerly put most people off from complaining.

Principle Ombudsman Caroline Wayman made her stance very clear on the issue, when she said: “Its important people don’t feel trapped with nowhere to turn for help because of the stigma that is associated with short-term lending.”

RTA Business Suggests You Don’t Make Enemies of Customers

These recent figures are, of course, a disaster for the payday loan industry. Not only are they getting complaints about it, but it’s being reported, and people are being persuaded to forget the “shame factor” that would otherwise have dissuaded them from lending.

So, in conclusion, don’t make enemies of customers. You may think that you’ll be able to get away with it, but you won’t. They will eventually complain, and those complaints have the capability to drive any potential buyer away when you decide it’s time to sell your business. 

Here are RTA Business’ Top Five Reasons a Buyer Won’t Purchase Your Company

If you’ve put your business up for sale and it’s not selling, you need to know why so you can rectify the problem and clinch that elusive buyer. That is why this week, RTA Business has listed its top five reasons a buyer is saying no to the opportunity to purchase your business!

As one of the leading business sales brokers in the UK, RTA Business consultants has been facilitating lucrative business acquisition deals for a fairly long time, and as such, we know what works and what doesn’t.

Get Proactive and Show a Buyer the Value of your Business

More to the point, we know that you have put your business up for sale because you want to make money. The longer you have to wait, the longer you have to wait to get your hands on the cash, which can be frustrating or down right obstructive.

In our experience if a buyer isn’t biting, there are several reasons why, and there’s always something you can do about it.  Get proactive so that when the buyer of your dreams comes along, sees the value of your business and makes you an offer, you can reap your reward for building up your company into one to be proud of!

In order to do that, you need to identify the problem, and in RTA Business’ experience it’s probably one of the following:

1     They Don’t Know You: Even with RTA Business on your side, you need to let people know who you are, otherwise, how will they know why our business is so valuable? Always make sure you have a killer marketing strategy.

2      They Don’t Know the Value of What You Do: We live in a world of sceptics and even profit margins sometimes won’t convince them of the value of what you do. Craft facts, statistics, data, testimonials etc. into your marketing strategy to present a solid case to potential buyers.

3      Profit Margins: In many cases, a buyer may lack interest because your profit margins are too low to catch their eye.  Diversify your service and show them other avenues they can take advantage of to increase revenue with your business.

4      They don’t understand Your Product’s Appeal: In other words, the buyer doesn’t really understand the consumer base you market to. In this case, double down on market research so can readily show the gap in the market that you cater to.

They Believe the Profitability of the Business Isn’t Transferable: A potential buyer may be of the opinion that the company only works because you are at its head. Convince them otherwise by highlighting the key role played by your employees and convince said employees to make a long term commitment to the firm.

Learn from Ryanair –Avoid a Price War

If you learn anything from the reports that Ryanair has seen its first profit drop in five years that have surfaced this week, it should be to avoid a price war. Profit drops are poison for those of you out there looking to sell your business.

The link between profitability and lucrative business sales are obvious. Any buyer interested in your business will be so because they see profit potential. If you can show them that they can use your business to make money, they’ll suddenly be a whole lot more interested in buying your business.

Naturally, this leads us to the conclusion that if you can’t show them high profit margins, then they’ll doubt that your business can make any money, and it’s more than likely they’ll end up saying no. Seeing profits drop as you’re selling, by the way, is particularly disastrous because it’s so immediate, it is bound to stick in any buyers mind.

The Misconceptions of a Price War

One of the easiest ways to drive down your profit margins is by getting involved in a price war. People usually get the wrong idea about this. The theory behind drastically cutting prices is that because you are cheaper than your competitors, people will come to you to buy the product/service you sell, because they’ll save money.

This is a terribly short sighted view of the realities of drastic price cutting policies. Yes, they can be lucrative in certain circumstances, but there are other things to consider. It may not, for example, attract enough customers to make it viable, as there may be issues of convenience or may not make enough money to prove profitable due to prices falling too far.

Ryan Air: A Case Study

Let’s look at what’s happening with Ryanair right now to see how drastic price cuts can have the opposite effect to those intended. It is a low cost airline that has been making money for years because it is popular with customers.

They recently went too far and engaged in a price war to compete with other low cost airlines. It has now seen its net profit fall to 523 million Euros (£426 million) for the year to March, down from 569 million Euros the year before.

This is why RTA Business Consultants suggest that if you’re looking to sell your business, you should think long and hard about whether engaging in a price war really will drive up your profit margins. If you’re not careful, it can actually damage them, turning off that potential buyer who otherwise would have signed on the dotted line and purchased your business!

Pub Sector Receives Major Help from UK Government

If you trade in the beleaguered UK pub industry, there is good news this week, as the government has announced new code of practise designed to help aid growth in this key sector. What could this mean for your long term prospects if you hope to one day sell your pub?

At RTA Business we specialise in giving you the help you need when you decide it’s time to sell your business, so that you can make the most money possible from the result of that sale. We understand the difficulty this sector has had in recent times and welcome this news.

The Changing British Pub Landscape

The pub industry was once one that sat at the heart of British commerce. Back in the 80’s and 90’s, there would have been no problem selling your pub, because they were the centre of British life, regularly drawing in custom. Therefore, they were highly lucrative and valuable to potential buyers.

However the world, and the pub industry, has changed. The gradual encroachment of bars on pubs’ core client base, as well has the ramifications of the smoking ban, has driven customers away, forcing pubs up and down the country to close and making them that much harder to sell.

A Statutory Code to Control Costs

This is why the government has made the announcement of new rules that are aimed to help struggling pub tenants cover the cost of beer payments or rent. Specifically, this statutory code includes  the right to request a rent review after a five year period,  which followed after a raft of sustained complaints about the infamous “beer tie.”

Business Secretary Vince Cable spoke was reported by the BBC speaking on the issue. Cable said: "Far too many landlords feel their income is squeezed by big pub companies. So today we are taking action to make sure they get a fairer deal." 

RTA Business on the Potential for the Pub Industry

Although this change primarily concerns those who rent, it does have a provision that says that tenants of companies with over 500 pubs, will now have the right to request "parallel free-of-tie rent assessment," to show whether they would be in a better position going independent. This could theoretically open up a pathway to pub ownership, which could generate massive revenue when you eventually sell.

At RTA Business we also recognise that these changes will have wider effects for pub owners, as it will put them in a stronger position with potential buyers when it’s time to sell.

CBI Predicts Interest Rate Rise

The Confederation of British Industry has predicted that the national interest rate will rise early next year, becoming the third major organisation to make such a claim. What could this mean for you if you are looking to sell your business in the next year?

The UK’s Benchmark Interest Rate

Interest rates – the amount of a loan that is charged as interest to the borrower – is crucial to the business industry. That is because interest rates are a huge economic factor, and as such, any change to national interest rate policy has the ability to either positively or negatively impact businesses on a national scale.

The Bank of England set their benchmark interest rate at 0.5% towards the latter end of last year. They did so in order to stabilise the economy and stimulate growth. The fact that financial experts have now predicted that the UK will return to pre-recession levels of growth by summer this year, would suggest it is a policy that has benefitted the nations finances and put you in a strong position if you are looking to sell your business right now.

Therefore, it is not surprising that the Bank of England announced that it will keep its benchmark at 0.5% for the next month, and most likely for the foreseeable future. This means that the environment that has fostered the economic recovery will continue and that can only be a good thing.

The CBI Prediction

However, analysts everywhere agree that the policy cannot, nor should it, stay in place forever. If it stayed in place too long, it could hamper long term growth which would weaken everybody’s bottom line.

Specifically, the CBI has suggested that by early 2015, the Bank of England will have raised the interest rate to 0.75%.  It has also raised its UK growth forecast from 2.7% to 3% for 2014. The National Institute of Economic and Social Research (NIESR) and the Organisation for Economic Co-operation and Development (OECD) have both taken similar steps.

The CBI also commented on business owner confidence: The BBC reported that they said: "We're sensing entrepreneurs across the whole economy - service, manufacturing, exporters - and even the domestic economy feeling more confident [and] making more investment."

At RTA Business Consultants, we see that the CBI has suggested that for the next year, the recovery should remain stable and that it is and will continue to improve business leader confidence. That means that it really might be the best time for you to sell your business.

Financial Regulators for Treasury Review

UK Chancellor George Osborne has announced this week that the Treasury will conduct a review of the enforcement processes adopted by financial watchdogs, to ensure they are in line with national regulations. What could this review mean for you if you are looking to sell your business right now?

Financial watchdogs such as the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are the final arbiters for disputes over financial products and services in this country. Should your business enter a dispute of this kind, they will resolve it.

George Osborne Speaks

The Chancellor of the Exchequer, the government minster ultimately responsible for financial matters in this country, and the executive in charge of the Treasury, has said that he is planning to examine whether both the PRA and FCA were striking the “appropriate balance of fairness, transparency, speed and efficiency”  in carrying out their remit.

This decision to further examine the activities of financial watchdogs comes at a difficult time for the FCA in particular, as it has come under fire as of late for the way it is carrying out its mission to police the financial market.

Specifically, the Chancellor openly suggested that the watchdog had committed an “egregious” error in the manner in which it briefed local and national media on its yearly business plan last month. It’s important to note that this incident did not result in any action being taken.

The FCA under the Spotlight

The FCA in particular has been far more effective than its predecessor, the Financial Services Authority (FSA). Not only has the FCA taken a stronger line against individuals, it managed to raise the total value of fines from £35 million in 2009 to £472 million in 2013.

However there has been a trade off, and that has been a lengthening of the period of time FCA investigations take and an increase in the number of incidents being referred to the Association’s enforcement division. Experts suggest that these are key areas the Treasury will investigate.

The Financial Times spoke to Nathan Willmott, a partner at law firm Berwin Leighton Paisner, on the issue. Willmott said: “The main concern from all sides is the time it takes from launching an investigation to making a decision on whether there is a case to be answered, and then going through the FCA’s internal decision-making process.”

At RTA Business Consultants we realise that the significant role the FCA in particular plays in the financial sector means that any finding by the treasury could have a significant impact on the business community. If you are looking to sell your business right now, it is certainly an issue worth keeping track of.

Can Shares Rise Without Profit?

For larger companies looking to sell up, share prices are everything. Share prices indicate how much an investor stands to gain from ploughing money into your company, so they’re an important indicator of your value. This leads us at RTA Business to ask, can shares rise without profit?

Shares are a crucial measure of wealth for a business that has floated on the stock market (making shares available for investors). That means that you need to ensure that your share prices are as high as possible, so that a buyer will know that your business is valuable.

The most obvious factor in share price rise is profit margins. The amount of money you make is a direct reflection of the value of your business. However when profit margins don’t rise, is it possible for share prices to rise anyway?

Share Prices Rise at Yahoo

In fact, it really is possible to increase share price without profit and all you have to do is look at the latest market activity at search engine corporation Yahoo to see how.

At the moment profits at Yahoo are actually falling. There was a 20% fall in first quarter profit. It measured $312 million (£187 million). It still beat expectations, but it wasn’t exactly fantastic. However share prices, at the time of writing, had jumped 9%. How is this possible?

The company came out with a raft of facts of figures to assure investors that Yahoo is on its way up in the world. Apart from the fact that profits still beat expectations, overall revenue was actually at its highest since 2010. Yahoo raked in $1.1 billion in the first quarter, with display advertising revenue rising by 2% to stand at $409 million.

Yahoo’s share price was also spurred on by the fact that Chinese internet monolith, Alibaba, of which it  owns a whopping 24% stake, saw revenue rise 44% in the last quarter of 2013. Of the situation, Yahoo Chief Executive, Marissa Mayer said that she “is really pleased by our first-quarter performance."

What RTA Business Has to Say

So at RTA Business we remind you that share prices aren’t as simple as how much profit you’ve got in the bank. Investors, whilst they are certainly interested in profit, also use the long term likelihood of business success to measure a company’s worth on the international market.

On a wider scale, Yahoo’s impressive share price rise should remind those looking to sell their business right now that buyers look at the long term viability of your business. It’s not enough to have a strong profit margin.

Small Business Lending Scheme: Just What Your Business Needs?

Growing a business with the intention to eventually sell it off is a complex process and one of the most difficult parts of that process is raising the capital to get it off the ground. That may no longer be a concern if a new small business lending scheme comes to fruition.

This week officials representing the UK government have announced the creation of a new scheme that will offer to share the financial cost of losses on some small businesses loans. This scheme will take place through a concerted effort to convince banks to lend more to these borrowers.

This scheme has been designed to facilitate the growth of the small business sector – a pivotal part of UK industry – which would in turn boost economic growth, which would benefit everybody. It’s the brainchild of the British Business Bank.

The British Business Bank was launched last year by the Conservative led coalition government and since its creation it has focused efforts on improving lending rates to small and medium sized businesses, a sector of the market that has found it difficult to generally secure lines of credit in the wake of the economic crash. This is seen as the latest attempt to do so.

Marketed as a pilot “wholesale guarantee” scheme, the plan would offer a government backed assurance to lenders that would act to cover the burden of a degree of net credit losses they build up on their SME portfolio.

The government’s goal here is to lessen the amount of capital lenders have to hold against their SME loans, so they can provide loans to small and medium sized businesses in a way that will cost them less. Naturally this has been put in place so that banks are more willing to lend to those businesses, which will give said businesses funds to use to expand, which will in turn inspire economic growth.

Reinald de Monchy, managing director for wholesale solutions at the Business Bank said of the scheme that: “Our aim is to incentivise new SME lending by making it a more capital efficient activity for regulated banks, thereby enhancing its commercial attractiveness.” 

The potential benefits for business sales ere are obvious. It will be easier to secure a loan for a small business with this policy, which will make it easier to grow. This in turn will make your business look more attractive to potential buyers when the time is right to sell. At RTA Business we believe this will have positive effects for those who eventually want to sell their businesses. 

SSE Energy Prices Freeze Until 2016

Major energy firm SSE announced this week that it’s freezing energy prices until 2016. A big move by any measure of the imagination, it’s a move that could benefit businesses up and down the country that have their energy supplied by SSE.

Last year as a result of Labour leader Ed Miliband swearing to impose a 20 month energy price freeze should his party sweep next year’s election, the big six energy companies came under fire for just how high they were raising prices.

The amount of press it got last year was astounding, and future estimates showed that it somewhat hurt profit margins as customers abandoned the big suppliers in droves heading to smaller rivals for their energy needs.

It looks like SSE has now addressed this concern as they have come out saying this week that they have decided to freeze energy prices until 2016. It’s a move that been hailed by the company and customers alike.

Representatives of SSE said that the move, even though it would lower profit margins in the short term, would streamline its service to cover the shortfall, another move that is likely to benefit customers in the long term.

Streamlining plans are already under way and the energy company announced that among those plans will by the axing of 500 jobs across the board and the development of at least three offshore wind farm projects to promote greener energy. The company predicts that these plans will save them at least £100 million, which they can then pass on to customers.

Despite criticism from industry rivals, SSE chief executive Alistair Phillips-Davies hit back, saying that "delivering the lowest possible energy prices" to customers was "central to everything we do". He further claimed that "we're looking to do whatever we can to bring down prices for consumers."

He also called the government to remove energy taxes out of bills and collect them through general taxation instead. This is most likely a reference to ECO Funding, a green energy initiative that the government funds through the taxation of the major energy companies.

This is bound to have an effect on any business that gets their energy from SSE, lowering bills significantly considering the amount of energy used on a daily basis. It’s also likely that it will further boost the recovery UK economy, which will have benefits for businesses across the board.

This money can then be fed into ensuring the company is primed and ready to sell when the time is right. At RTA Business Consultants, we believe that this could help you sell your business.

Summer Should Signal Pre-Recession Levels for UK Economy

Experts across the nation have told everybody this week that by the summer the UK economy should be back to pre-recession levels. At the RTA Business blog we ask what exactly this means and what it could mean for the business sales industry.

Business lobby group The British Chamber of Commerce (BCC) has gone on record this week stating that the overall size of the UK economy will return to pre-recession levels by the time we hit the summer. Specifically, they said that the largest measure of economic size, GDP, will exceed the level it was measured at when 2008 began, before the financial crash.

The BCC has now actually upgraded its economic growth forecast for the UK economy for 2014. Whilst it originally stood at 2.7%, it has now risen to 2.8% on the back of a slew of strong data about the trajectory of UK business.

Furthermore the BCC has predicted a strong year for the finance industry in 2015. They have upgraded their 2015 growth forecast from 2.4% to 2.5% and have also predicted that the end of 2015 will see the end of the Bank of England scrap their policy of keeping interest rates unusually low. The BCC predicts that the Bank will raise interest rates from 0.5% to 0.75%.

BCC director general John Longworth commented on these figures. Longworth said that "our economic recovery is gaining momentum." He then elaborated by saying that: "Businesses across the UK are expanding and creating jobs, and our increasingly sunny predictions for growth are a testament to their drive and ambition."

It’s also notable that back in December, when the BCC made its original forecasts on UK growth, they said that the nation would reach pre-recession levels of growth by autumn; now they’re saying it’ll be by summer.

However it’s not all good news. The BCC also warned of unacceptably high levels of youth unemployment. Longworth said in the  issue that: "We urge the chancellor to use this month's Budget wisely by incentivising businesses to hire young people so that the next generation of workers are not left behind."

So it’s quite clear from these figures that the economy is only set to expand in 2014; this in turn will help businesses grow which can only benefit the business acquisition industry. More business owners will be looking to buy due to stronger economic prospects, and those looking to sell will be in a better position to do so. It really might be a record summer this year in the UK!

UK Service Sector Holds Steady

Reports released this week suggest that the UK service sector has continued to expand by strong margins in the second month of 2014. Considering the role the service sector holds in the overall national economy, what could these figures mean for the business sales industry?

The numbers were strong; the Markit/CIPS Purchasing Managers Index (PMI), the primary source for measuring real economic activity in the UK, for the industry held at 58.2. This was slightly down from the 58.3 figure for January.

However when you consider the fact that anything above 50 on the scale means that the sector has expanded, we see that the service sector is still in growth mode. Furthermore the Markit Survey concluded that confidence in general economic outlook for the nation was at its strongest since September 2009, the height of the recession. It has been growing for the past four months.

The survey was part of a slew of surveys regularly conducted by market experts over the progress of both the service and manufacturing sectors. This month figure generally pointed towards a trend of the service sector outperforming the manufacturing sector. In fact experts have used this to suggest that the service sector is the main driver of British economic growth.

Chris Williamson, Markit's chief economist spoke on the issue. William said that “alongside vibrant growth in manufacturing and construction, the upbeat picture of the services economy points to the country enjoying another quarter of robust economic growth of approximately 0.7%." 

Williamson expanded on this point, explaining that "there's no end in sight to the good news: with business confidence in the services economy rising further in February, growth should pick up again in March, adding conviction to the growing consensus that the economy is set for its best year of growth since 2007, with the rate easily surpassing the 1.8% expansion seen last year."

 So it’s clear here that growing confidence from business leaders is enabling expansion in the service sector. This is further evidenced by the fact that expansion in the sector has resulted in its strongest levels of new staff hire since October last year. Markit has made it clear that it sees these figures as further proof that the British economy is now in sustained recovery.

At RTA Business, this not only assures us that business leaders are ready to aid growth, meaning that they are more likely to look at acquiring new business, but that this activity will be particularly heightened in Britain’s booming service industry. 

What do You Need to Consider When Starting your Own Business?

At RTA Business we understand that in order to make a profit from selling your business, you first have to actually have a profitable business. This is why it pays to know what you need to consider when starting a business. So what do you need to consider when getting a business off the ground?

For those aren’t sure what an entrepreneur is, it’s a person who sets up a business or businesses at financial risk to themselves. It’s somebody who takes a chance to make a profit. This means that to be successful as an entrepreneur and in starting your own business you have to be in a position to take risks.

If you are in a financially precarious situation and you take a risk that fails your business will have no chance of success. That’s why when you are looking to set up business you have to calculate when is the right time for you. 

You also need to think about your product; is it viable, will it sell, do the costs it takes to produce outweigh the potential profit you can make from it? If your product isn’t viable then your business won’t be lucrative. All entrepreneurial efforts depend on the product they are centred on.

You also need to look ahead. You may have a great idea, but it needs to be sustainable in the long time. Is there room for expansion, how long will it take before it starts making a profit. No matter how innovative your product is, if it isn’t sustainable in the long term your business will fail.

You also have to consider how you are going to market your product. What sort of marketing is it most preferential to, how are you going to fund such marketing attempts. You may have the best product in the world, but if there’s no way to effectively market it then it’s as good as useless to you.

Setting up your own business is one of the toughest choices you can possibly make in your career. However if you are successful the rewards are numerous; when the time is right you can sell it off and make a tidy profit. 

How Can You Use Language to Sell Your Business?

A key part of any strategy used to sell a business is the language said a strategy employs; after all the language tells people what your business is all about. How can you use language to sell your business?

The word’s you use to sell your business can make or break the sale. The right word or turn of phrase in the right place can hook a buyer in. Consequently the wrong word or turn of phrase in the wrong place can convince your buyer that your business is not one they want to purchase.

So what are the language rules you need to follow when crafting a sales pitch to advertise your business to potential buyers? Firstly, be positive; use positive words that highlight your business’ strength and potential for growth. Nobody wants to purchase a business that can’t even get enthused about its own benefits.

Secondly, don’t grandstand. It can seem tempting to write masses on masses to point out every benefit your business can bring. It’s over compensation. Stick to the facts and the arguments, keep paragraphs short, sweet and to the point. 

Also use your language to promote your unique selling point. Your unique selling point is the reason why a buyer will turn to your business over your competitors. Devote the language you use to emphasising said selling point and divert language away from the trivial details that detract from this lynchpin of your sales pitch.

It’s also important to make sure that the structure of the language you use flows. An argument is effective because the paragraph builds on the point that was made in the paragraph before. Persuasive language works because it’s acts in tandem; don’t suddenly go off topic, it’ll confuse the reader.

Finally, get the specifics right. Whilst persuasive language accentuates a sales pitch, it’s the facts and industry specific language that really sell your business. If you make a mistake in this pivotal area, it casts doubt on your expert knowledge of your particular field. This reflects badly on your business; after all if you get things wrong about the industry in question then logically the business you run will as well.

At RTA Business we understand that crafting a sales pitch to sell your business is a balancing act. This is why it matters what words you use and how you use them; it really can make all the difference. 

When is the Right Time to Sell Your Business?

With the global economy moving out of recession many people are feeling more confident about making a profit on the  sale of their business. In light of this at the RTA Business Consultants Blog we decided to examine the issue in greater detail.  So when is the right time to sell your business?

RTA Business is a company that specialises in business acquisition. We have developed a reputation for aiding our customers in selling their business for an admirable profit margin. This means naturally we’ve had to analyse what goes into selling a business.

One core principle that we’ve strictly adhered to in becoming one of the UK’s largest business acquisition companies is that timing is everything.

This is a principle which applies to many areas of life. If you for example are looking to approach a company for a business deal, you can’t do it at any time. You have to watch and wait, see when their circumstances are more likely to lead them to be receptive to such a deal. Timing can often be the difference between failure and success.

So what are the rules of timing in business acquisition? The first one is one we’ve already touched on. Watch the market for your industry. We’ve already mentioned that the global financial recovery has meant that it’s more profitable to sell your business.

However you also have to watch your individual market. Markets rise and fall all the time; current affairs often see prices fluctuate on a daily basis. However if you watch and analyse your market you’ll be able to spot trends; use these trends to indicate when your business will be more lucrative to sell.

The next crucial element to consider is profitability. Has your business reached its prime profitability to sell?

The logic behind this is that a buyer will not want to purchase your business if they won’t make any money. It’s more about potential .They need to see that they have the potential to make money. If your business doesn’t have any potential prospects, it’s not going to sell.

The third factor is the buyer itself. Are there the buyers out there to actually buy your business?

This may seem obvious but it really isn’t. If you’ve built up a business on an idea that hasn’t fully caught on in the wider business community, there isn’t going to be someone you can sell to. They won’t have had the time to develop. There’s no point putting your business up for sale if there isn’t a buyer out there.

Timing is everything in this world. Make sure that when you decide to sell your business, you get the timing right. RTA Business would be happy to help you find the perfect time to sell your business.