It’s surprising how many business owners overlook the significant value tied up in their hard-earned ventures. Far too often, we see perfectly viable businesses simply closing their doors without exploring the array of exit strategies available to them. This is a real shame, especially when a business could thrive under new ownership and provide a significant return for its founder.
With a little creativity and forward thinking, many businesses could find a buyer, particularly if there’s a valuable client base or unique services on offer. We genuinely believe there’s a significant gap in the market when it comes to educating business owners about their options beyond just shutting down.
The Cost of Overlooking an Exit Strategy
Just this month, a LinkedIn post highlighted a business that decided to close, giving its clients a mere month’s notice. While it was incredibly short notice, we were fortunate enough to acquire most of their client base. We were able to offer the owners payment for something they genuinely thought was unsellable.
Think about it: you pour years of hard work into building a business, only to close it without considering an exit strategy? What about the nest egg for retirement you’ve been working towards? It seems many owners don’t even realise that selling is a viable option. It makes you wonder how many businesses just close without ever attempting to sell, or if they were ever advised that their business, or even just parts of it, could be a valuable asset to someone else.
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Are You Considering Closing? Talk to Us First.
Last week, while looking at some competitors, we noticed another telephone answering service (Blue Square Offices and BIZIK Both the same business) were closing, almost overnight. We tried to approach the directors, but they weren’t even open to considering our offer.
This experience highlights a critical question: how many businesses out there are planning to close without even exploring the possibility of selling? If you find yourself in that situation, we might have a buyer for you. Most businesses have valuable connections and assets, and it’s always worth a conversation. You never know what opportunities might exist to sell your business.
Given the current tough economic conditions in the UK, we are particularly interested in acquiring telephone answering services that are considering closing.
Before you make a final decision, why not reach out? Let’s talk. Call us on 01582540540 or email me jet.shah@telephone-answering.biz
