Home – New Forums Other discussions Attention sole traders looking to retire/ sell out of their small business Reply To: Attention sole traders looking to retire/ sell out of their small business

#1180448
bb1
Participant
  • Total posts: 4,485
Up
0
::
Gronky, post: 210430 wrote:
The site is still in development. Looking for validation of concept at this stage. Would you use a broker like this and refer other sole traders in a similiar situation?

I can see the benefits for the apprentice, gets to try out the business, and if they like it, take up the option.
The drawback I can see for myself is you are open to tyre kickers and time wasters just looking to fill in X months of time and than move on.

As an example you broker a deal between me and joe blow, that joe works for 6 months than has the option to buy. I teach joe the ropes for the 6 months, he learns all my tips and tricks, gets familiar with my client list. 6 months is up, and Joe says no not interested, but has gained heaps of experience, great benefit for Joe.

but for me I am 6 months down the track, invested time in Joe, because jobs just take longer when trainging someone, I still want to sell the business, but Joe is gone I have paid my money to you, and I have to start the sales process again. Plus I run the risk that Joe takes of with my client list, and approaches them on the side.

I can only see benefits for the prospective purchaser and heaps of drawbacks for me, who after 6 months am left trying to sell the business.

Initial thoughts are no