Phone calls asking if I want to sell/know value of my Business

Ross1 · Nov 20, 2017

Hi all, I`ve been trading for the last 8 years, in the last 8ish months I`ve been getting calls from firms asking if I would be interested in selling my business. Also getting calls saying that they have clients that want to invest in the area and would I sell or when I say no they ask whether I would be interested to know what my business is worth.

Have any of you had any similar experiences.

Thanks

Wilko · Nov 20, 2017

No - but so many scammers these days I dont reply to anything I didn't start. I was watching a comedy routine the other night and the chap said to the possible scammers "I'll just get me mate in the FBI to run a check, if that's ok ..."

Octopus · Nov 20, 2017

Your business is YOU.

How many people do you employ and what is your turn over?

Maybe you should call their bluff and ask them to value it!

Strima · Nov 20, 2017

I find the call blocking function very useful for situations like this.

PEG · Nov 20, 2017

Nobody has been mythering me,for a buy-out...

...I think they must be considering other outfits,first...

...like Gandolfs circus,or the Chuckle brothers

snowhead · Nov 20, 2017

Ross1 said:
when I say no they ask whether I would be interested to know what my business is worth.

It'll end with them asking you for a fee to put your business on their books.

Sparky Pat · Nov 20, 2017

I have had similar calls from a Swansea phone number. Got to be a con of some sort because who is going to buy a one man band electrical contractor.
I always tell cold callers that it is business policy not to deal with cold callers, that usually gets rid of them.

FatAlan · Nov 21, 2017

Lots of stuff online. Valuations subject to multitude of factors depending on type and size of business. Owner run businesses tend to struggle to get above 2.5 x adjusted net profit (what ever that means?). But as stated above most small businesses are based on the customer relationships built up by the owners and in essence they are the main asset. If you have some really valuable clients the key is to sell up with a nice ongoing consultancy fee to manage the business through transition. But again, as already mentioned steer clear of the cold call scam merchants.