Buying a business is an exciting and busy time, and due to the numerous complex procedures involved in the course of buying and selling a company, brokers are often enlisted for their services. Their in-depth knowledge on the matter, network to connect and source the right people, and ability to ease along the technical processes makes using a broker a traditional and easy option for such transactions.
It is, however, completely possible to buy a business without a broker.
In fact, buying a business without the middleman may be a better alternative in certain circumstances, especially where you are looking for a venture with specific requirements.
Eliminating the broker essentially means buying a business directly from the owner. But the question then becomes, how do you go about finding a seller?
The good news is, it is possible to find a seller on your own.
We recently spoke to thirty-year-old Richard Preston of his success story of buying a business directly from the owner.
Preston is now the proud co-owner of NDT Equipment Supplies Limited, a company that specialises in supplying equipment for testing and inspection. It was a long and arduous journey, but it came with a highly rewarding outcome.
A story of passion and motivationPreston’s entrepreneurial interests began long ago when he was met with an unexpected redundancy five years into a role at a large UK-wide logistics operator. It was then that he seized the opportunity to purchase his first business. Like many other business buyers, Preston undertook the transaction with a broker.
Enter Business Sale ReportSome three years later without much success in finding what they were looking for, Preston and Dodd happened across the ‘Business Wanted’ section of Business Sale Report, a platform that allows buyers to advertise the type of businesses they are looking for, so owners and sellers can contact them directly.
A seamless transactionFrom first meetings to signing the papers in the lawyers’ office, the whole sales transaction took just nine weeks - an incredibly speedy turnaround of events under any set of circumstances in the business world. In that time, Preston and Dodd went from being business buyers to brand new business owners.
Success!It is clear that Preston and Dodd’s journey was a small-scale, personalised business venture, with much potential to expand in due course. As such, having a broker limited the personalised aspect and interaction with sellers so they opted to contact owners directly.
Leading Volkswagen sales and conversion business. The business is passionate about converting and selling a specialist recreation vehicle. For around 5 years, owner has built a reputable and well-known brand and business offering repairs, parts and a...
Highly successful business catering to a unique sector. Established Since 1978 with a high profile web and social media presence. Offers invited.
An established business offered for sale and possible relocation in the North West area of the UK. Profitable Agency business providing supply teachers into schools in the Greater Manchester area. Providing supply teachers in local and regional schoo...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources