selling my business, what's it worth, where to sell?

mrgazer · #1 02-23-2016

Hello all

I might be looking at selling my automotive business - which is combined of a legit website + a stealth ebay account. It is projected to net profit at around £25k - £30k for the next finical year.

Just wondering what prices should I be aiming at selling it for?

Where would be the best place to sell the business?

Also, being stealth ebay account, that would mean that to run both the legit site and eBay Stealth account, clearing IP and swapping users is a must. Is this necessary to explain to the next new owner about this?

Where do I start? LOL I do not know..

Many thanks

realdeals · #2 02-23-2016

What were your previous years turnover/profit?

Is it just websites?

Have you any assets?

easy.bake.oven · #3 02-23-2016

If you don't tell the potential buyer that he has to do stealth tactics, the account will fail.

If I was buying a business and the seller told me I had to do stealth, I would not buy.

Maybe try list on Gumtree?

rsot · #4 02-23-2016

Why not get a professional evaluation? Otherwise you would need to put out a lot of info for insightful discussion..

SilentHill · #5 02-23-2016

keep your business and expand it.

123 · #6 02-24-2016

Your best bet would be a site like flippa

https://flippa.com/

EWHendo · #7 02-24-2016

If it is a business account... would the buyer be able to change the information to their own and be okay, so long as they don't have issues with eB / PP themselves?

rsot · #8 02-24-2016

Quote:

Originally Posted by EWHendo

If it is a business account... would the buyer be able to change the information to their own and be okay, so long as they don't have issues with eB / PP themselves?

Not just straight up - would likely have to submit proof etc..

mrgazer · #9 02-24-2016

Quote:

Originally Posted by realdeals

What were your previous years turnover/profit?

Is it just websites?

Have you any assets?

The past 3 years have made a steady £18-20k per annum

Next years projection is based on the sales boost from stealth.

It is just a website - no office or warehouse as needed yet.

does hold stock if this is what your refering to inventory

mrgazer · #10 02-24-2016

Quote:

Originally Posted by oven.hot.pizza

If you don't tell the potential buyer that he has to do stealth tactics, the account will fail.

If I was buying a business and the seller told me I had to do stealth, I would not buy.

Maybe try list on Gumtree?

thats my concerns too. Thanks for the input

mrgazer · #11 02-24-2016

Quote:

Originally Posted by rsot

Why not get a professional evaluation? Otherwise you would need to put out a lot of info for insightful discussion..

any idea where or who would be I need to approach?

mrgazer · #12 02-24-2016

Quote:

Originally Posted by SilentHill

keep your business and expand it.

it was in the planning, but due to personal reasons, i may be leaving the country..

mrgazer · #13 02-24-2016

Quote:

Originally Posted by 123

Your best bet would be a site like flippa

https://flippa.com/

Thanks bud

mrgazer · #14 02-24-2016

Quote:

Originally Posted by EWHendo

If it is a business account... would the buyer be able to change the information to their own and be okay, so long as they don't have issues with eB / PP themselves?

I was also thinking something along the lines of - upon exchange, the new owner uses his own paypal account and bank account for my legit business website. Then he continue to use the my existing ebay and paypal details for stealth.. So he can even transfer paypal balance directly to his new bank account too..

Whats your thoughts? did i miss anything?

mao · #15 02-24-2016

Quote:

Originally Posted by mrgazer

it was in the planning, but due to personal reasons, i may be leaving the country..

20k a year, why not hire someone to do the work for you and keep the business?

muzzie · #16 02-24-2016

If it is just a business, it is usually sold for a 2 year profit.

yankee · #17 02-24-2016

Anything unique or sensitive as far as contacts, suppliers etc...?

Anything extraordinarily inventive for marketing?

mrgazer · #18 02-24-2016

Quote:

Originally Posted by mao

20k a year, why not hire someone to do the work for you and keep the business?

To be honest, I did think of it. If I was to give 16k salary a year to replace me to do the job, that would only leave me with less than 10k profit, which I can hardly live on. So probably will have aim for a net profit of around 40k in order to be able to process with plan? What are your thoughts?

mrgazer · #19 02-24-2016

Quote:

Originally Posted by yankee

Anything unique or sensitive as far as contacts, suppliers etc...?

Anything extraordinarily inventive for marketing?

Nothing unique with contacts, nothing extraordinary with marketing.. Just a retail business tbh.. What are your thoughts.?

mrgazer · #20 02-24-2016

Quote:

Originally Posted by muzzie

If it is just a business, it is usually sold for a 2 year profit.

So looking at around 40k would be reasonable?

Haidukken · #21 02-24-2016

Why not expand the business for another year or two, hire somebody to work on the sales and take a step back, have a steady income all year around and then sell when you feel the need and are in a position where you can provide the new owner legit proof of past year or two earnings?
Sounds like you had an idea, proved that you can make money but now want to sell quick because either you are too lazy to expand and protect yourself from the competition or because you don't see long term future for the company.

As a buyer, I would most likely not consider buying a company that is virtually in its startup phase.

realdeals · #22 02-24-2016

Seems to be a bit of a flaw here as the net profit doesn't appear to allow for a wage to be coming out, or rather what you call the net profit is the wage.

Nobody can value a business at £40k if all it is going to return is the 'national living wage'.

I wouldn't pay £40k to work in Lidls for £9.50 an hour.