Selling my business...

[Cath]

I run a monthly magazine, and have done since September.

I've been approached by a large publishing company who would like to buy the magazine, and also employ me. My skills would be utilised to work on other projects.

I'm seriously tempted, and have two weeks to give my answer.

My first comment to them will be "make me an offer.."

But has anyone ever done this?
Am after help and advice, is it possible to sell but retain a stake share in the business? Does less than 50% mean you don't have final say-so? There are some things that ethos-wise I know I'd want kept the same if I were to sell - can I stipulate this?

Thank you all,

Cath

[Play!!]

I know little about selling a business but I've been looking into it over the past few months. There must be a reason they want your business. Can you figure out why they want it? or what assets, trademarks, patents, names etc that they would want?

Is their company on the stock market?

If I were you I would really want to know what they want out of it.

[Baz Hillen]

Hi

Like play I dont really know too much about selling an existing business.

One point I would strongly advise you to think about if you do decide to sell; have your solicitors put a sell on clause in the contract. This means if the company that buy it from you sell it on again then you can still get a cut. I recently read something about someone doing this and it proved to be worth serious money, something to think about maybe.

Regards

Baz

[unknown]

sell the company and start another up with a different name :p

[jklondon]

As long as the price is right and you get a good contract in place (totally agree with the sell-on clause if you can actually get it accepted!) then go for it.

The downside to you not accepting the offer (and this depends on the size of the buyer) is that if they want a position in the market space you occupy they could very well start-up a new brand in competition. Also don’t get greedy, I know its tempting too when its your own business ;)

[thickchick]

Hi Cath

BDO Stoy Hayward have a useful guide on their website:

http://www.bdo.co.uk/BDOSH/Website/bdouk/websiteContent.nsf/05253ac4a4ac6b0b8025695a0046513c/819410cd007edc7380256f02003822ee/$FILE/selling-your-business-guide.pdf

Long link I know!

Sharon