I need some business advice - what's the best deal?

Discussion in 'Growing and Managing a Business' started by greenflag, Feb 7, 2012.

  1. greenflag

    greenflag
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    I have the sole agency in my country for a confectioneries supplier based in Europe. I am moving away permanently from this country for medical reasons and I do not have anyone to handle this without my presence. I am wondering that if I give up the agency to someone else, what is the best deal I can strike with them so that I retain some type of share or at least some earning after giving it up? The supplier will be notified of the changes.

    Any advice would be helpful, thanks.
     
  2. James Greg

    James Greg
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    If the products are really in demand then you are possible to strike a good deal. The person/company taking over the agency would make a decision after going through the accounts history that prove it to be a successful business. If you want to keep a share of the business advertise it as a partner required rather than advertising to sell the business.
     
  3. BusinessStories

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    I agree, if there is high enough demand you can arrange a deal to sell the company for cash, plus a percentage of future profits. Be sure it's all clearly laid out, if there's enough money involved consider hiring a lawyer.
     
  4. bestbuys4busines

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    Although a while has past since this post was created in case someone else is looking for similar advice I thought I would add my 2 cents worth.

    You could advertise for a partner but that depends if you want to deal with the running of the business issues, if you get an investor you could advertise for a Business Manager to run the business for you and you would still be the owner. Depends what you feel you can handle with your health.

    Personally, if you have a strong customer base I would sell it and include in the contract a % of sales to go to you over a specified period of time. Make it a really good deal 'for sale' deal so it is a win-win or just sell outright and move on, setting up the same business in the new location under a different name.

    Cheers
    Michelle
     
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  5. rjd1265

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    Value your business. Offer them a percentage or sell for value and you get 10% royalties for the next whatever..life, 10 years..

    So lets say your biz is worth $1,000,000 and you want to keep 25%. They buy for $750,000 and run the show and have majority owner. but you still get 25% of net profit when done at fiscal year
    -or-
    You sell biz for $1,000,000 but get 10% (just a figure) for the rest of your life. This way you have no input, no headaches, no nothing to do with the biz. in the first scenerio you would have to foort 25% of bills, cost, responsibility and so on.
     
  6. Mark T

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    The best thing that you can do rather is not to give up on the business - especially when your products are on-demand. Look for partnerships that will let your business continue to run even when you are outside the country. You can either partner with some one else you trust or someone else that is interested in being a partner in your business.

    Second, prepare proofs that you business had been very successful in the past few years of its operation. Knowing the credibility of your business also adds a factor.
     
  7. AshleyWhiteBusin

    AshleyWhiteBusin
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    There are lots of people that are interested on starting a business nowadays. You can ask someone from forums too. You might find your suitable partner and continue your business.
     
  8. jcworlditsme

    jcworlditsme
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    Indeed, in fact this forum's advertising section could be an ideal place to do this.
     
  9. ilovedesign

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    The other commenters have already laid out some of the best options for you nicely. Really, the only things you can do if you want to keep a measure of control or simply just part of the profits of your company is to look for a trustworthy partner or to sell with the agreement of a royalty being due you for a certain number of years. You do have to think pretty far forward into the future because if you expect your business to grow even larger and more successful eventually, it would be good for you to still have a hand in the decision-making process. If not, getting a certain percentage of the business profits should be good.
     
  10. foxgeorge

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    You can get some good deal for selling your confectionery business to someone else. You can start your own health care business too. Lorn Austin brings an alternate approach to this type of Medicine practice and does not disenfranchise patients or exacerbate the physician shortage. In fact Lorn Austin has brought quality care to his patients where Concierge Doctors listen patiently and pay thorough attention so that illnesses can be checked before they assume bigger proportions.
     
  11. firstchoicecar

    firstchoicecar
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    If I am in that situation I will go and grab a better opportunity on that only if the demand of your business is high.
     
  12. Navida

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    Any one who wants to purchase your business he will be interesting in business current as well as its past position, will check accounts and leverage condition of business, its debt equity etc. If your business is in good situation then there is a good chance of selling business in handsome amount.
     
  13. jackflaming

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    You can sale your company to someone who is looking to buy it. This is the best deal as I think. You should search for someone who wants to start a business in your field and you can make a good deal for your business with him.

    .....................................
    Chartered Accountants Dublin
     

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