From small family own corner stores to exclusive art galleries, Turner Butler has sold more retail and consumer facing businesses than most other UK business transfer agents. Just as retail companies focus on providing their patrons with a first rate customer experience, so to do we put our customers, the owners of these business, at the center of our efforts, making sure the sales of their businesses are closed quickly, at fair prices and to their complete satisfaction, as well as that of the buyers.
Recent Retail and Consumer Businesses Sold by Turner Butler
- Yap Bridal Boutique - Prominent wedding dress boutique in the northeast.
- Henley Goldsmiths - Henley-on-Thames retail jeweler
- Chippysmate - Norfolk kitchen and bedroom suppliers
- Uncle Roy's Comestible Concoctions - Award winning food ingredients business
- The Hunter Gallery - Fine art gallery in Suffolk
In the following article, we take a closer look at how we have achieved such a successful track record of retail business sales (we use “retail” loosely herein, using it to refer to all consumer businesses).
Step by Step Preparations
All business transfer transactions require careful planning and preparation, lest the deal reach a suboptimal closing or fall apart completely. Many, if not most retail businesses, where margins are often slim and whose customers can be fickle, would be hard pressed to weather such outcomes. At Turner Butler, we are well versed in the preparations that need to be made, in general and in specific retail sectors. Here are a few things that we will help you with to get your business ready:
- Getting your financial records and legal documents in order – Diligent buyers will want to see up to five years’ worth of profit and loss statements, bank statements, tax returns, leases, employment contracts, supplier and vendor contracts etc.
- Organizing your business information – In addition, you will need to prepare the data specific to your retail businesses, such as customer data. Loyalty programs, marketing programs, franchise agreements, etc. All of this information needs to be clear and precise, so to avoid inadvertently misleading the buyer.
- Readying your employees for the transition – Whether it’s a store manager, a clerk or a bookkeeper, it is vital to help your team through the transfer of your business to a new owner and alleviate any concerns they may have.
- Helping you create a profile of your business that correctly reflects your operations and can be used to present and market your business to potential buyers.
- Transferring assets to your name that you don’t intend to include in the sale, such as vehicles and intellectual property.
- Helping you prepare a post-sale plan – A sale is not successful unless you, the owners, are satisfied with your new status in life, and we’ll help you map this out.
Accurate and Wise Valuations
“Wise” may seem an odd choice of words in the context of valuations, but it provides a fitting description of Turner Butler valuations. While many brokers will overvalue your business to try and secure your business and to collect a large upfront fee, Turner Butler always generates true and fair valuations, holding itself to the highest standards of professionalism and integrity, as evidenced in our “free valuations”, “no upfront fees” and “no sale – no fee” polices. Our valuation wisdom includes:
- Familiarity with most retail and consumer market segments.
- Prior valuations of hundreds of retail businesses.
- Analyzing your business beyond its cashflow, identifying opportunities to charge a premium.
- Aligning your expectations with the market.
- Much more…
Marketing and Matching
Contrary to popular opinion, running a retail business is not a walk in the park. Changing consumer preferences, tight margins, macro-economic indicators and many other parameters factor into retailing. You know this and your success means that you have effectively navigated these stormy waters. We, at Turner Butler, know this as well and we know, therefore, the importance of finding the right person or firm to continue where you leave off.
To help you find such a buyer, Turner Butler:
- Has compiled the most comprehensive database of vetted, potential buyers in the UK.
- Moreover, we are familiar with the needs and desires of each such buyer, so we know who to turn to for each instruction we receive.
- We are also adept at marketing to broader audiences, to help our clients attain the best possible price.
These are but a few of the added value services we provide to our customers, and we invite to contact us to find out more.