If you are considering selling your Health and Beauty business, you may wish to approach a business sale agent to assist throughout the business preparation stage to increase value. This stage will consist of a business valuation to determine how much your business is worth and establish a suitable sale price. The stages leading up to the sale of your business are instrumental to paint a realistic image of your business and generate genuine interest from prospective buyers.
At Selling My Business, founded in 1956, we have over 60 years of experience in the trade of selling businesses in the Health and Beauty sector. We are powered by a highly skilled team of business valuers and company sale specialists with the depth of knowledge required to successfully sell businesses of a variety of sizes and across multiple industries. We have ongoing relationships with over 10,000 actively searching buyers and an extensive database of connections to support our advertising campaign for your Health and Beauty business.
We understand that putting your Health and Beauty business up for sale can be difficult due to personal connections, however, selling your Health and Beauty business may be inevitable due to several reasons. The Selling My Business team are sensitive in their approach and are on hand to guide you throughout each step of the business sale process.
You may wish to sell your Health and Beauty business, such as a gym, leisure centre, beauty salon or hairdressers, due to owner retirement, health considerations or to direct your business interests elsewhere. Many individuals build businesses as an investment exercise, with the sole aim to attract income and sell shop when the business reaches a profitable position. Therefore, it is common for Health and Beauty business owners to eventually sell their businesses to generate financial returns.
The beauty sector comprises many businesses, such as hair salons, hairdressers, and barbershops. These businesses are often complimented by nail bars, tanning salons, laser clinics and physical wellness services to widen the offering to customers and pursue growth opportunities. We have a proven track record of selling gyms and salons that are franchises and in operation independently.
We can conduct a confidential advertising strategy by tying interested buyers to a Non-Disclosure Agreement (NDA) to keep company information and internal knowledge private. You may wish to keep information concerning your business sale out of the public domain to protect your business against competitors by delaying the release of sensitive information. Carrying out due diligence is also key when conversing with prospective buyers poised to submit a competitive offer for your business.
The Health and Beauty sector consists of a variety of sub-sector businesses, providing opportunities to both small business owners and medium to large, corporate health and fitness groups. As the market continues to grow, the UK’s beauty industry ranks as the seventh-largest cosmetic market in the world. The £27 billion market presents a wealth of growth opportunities as consumer trends fluctuate, attracting new businesses and welcoming new business owners.
As the market moves towards the popularisation of home workout and fitness classes, the coronavirus pandemic fast-tracked its implementation. Although this presents a lucrative investment opportunity to gyms and leisure centres, this also impacts customer footfall and demand for physical instore services. By building a versatile and forward-thinking business, you can capitalise from trends and better serve consumers, increasing the value of your business.
The Selling My Business team will support you throughout planning your business sale journey, from plotting timescales, creating a business preparation plan and conducting an effective advertising strategy to reach buyers across the country. As we enter negotiations with prospective buyers, the Selling My Business team will assist with interactions and ensure a competitive deal is secured. We have a database of over 10,000 registered buyers actively searching for their next acquisition opportunity.
"It was time to sell my hairdressers to a business owner with the necessary capital to keep on top of growing trends in the city. Selling My Business helped attract multiple offers, of which we accepted the highest. "
Tracy - Hair Salon, Nottingham
When preparing your gym, leisure centre, hairdressers or barbershop for sale, you will need to ensure that it is presented in the best possible condition to maximise sale value. Conducting a review of your business to identify inefficiencies can help establish a plan of action that can streamline company operations and improve efficiency.
Carrying out seller due diligence is vital as it can verify the background of interested buyers to ensure they are legitimate and erase any uncertainty. Due diligence consists of delving into the financial history of the individual, ensuring they have acted professionally with previous business interests.
By weighing the risks and benefits of selling your business to a selected buyer, due diligence can help safeguard your business. This can erase, or in the rare event, support suspicions, that can influence your decision when considering offers.
In addition to conducting due diligence, proper record keeping, and bookkeeping can reflect on your professionalism and the organisational standards adhered to by the business. A financial summary will be required by prospective buyers during the early stages of the business sale journey to assess the health of the business. Failure to have such information to hand could delay the business sale journey and paint your business as inefficient and unorganised.
Sales Memorandum: Basic company information during the business sale process is typically housed under a sales memorandum. This information pack, also known as an information memorandum, essentially functions as a sales pitch to prospective buyers. A Sales Memorandum typically consists of the following information:
The sales memorandum provides a snapshot of your business and raises awareness of the unique opportunities your business can provide in comparison to other Health and Beauty businesses. The Selling My Business team are well versed in preparing Health and Beauty businesses for the sale process. We have administered the sale of hundreds of Health and Beauty businesses across the country, from Nail & Beauty businesses, physiotherapy clinics to boutique salons and hairdressers.
When valuing a Health and Beauty business, many aspects will influence the worth of your business, such as company assets and liabilities. Conducting a business valuation can help you calculate how much your business is worth and guide you in pricing your Health and Beauty company.
From leisure centres to hairdressers, existing inventory, stock, and specialist equipment are likely to vary in quantity, standard and financial value. The Selling My Business team can help conduct a valuation of your Health and Beauty business and establish a suitable sale price that reflects market value.
If you are wondering how to value a Health and Beauty business, the Selling My Business team are well placed to guide you throughout the procedure. Our in-house team of business valuers are well versed in assessing the financial worth of Health and Beauty businesses, such as leisure centres, boxing/fitness gyms, spas, and hairdressers. We offer a Health and Beauty business valuation as part of our service, conducted by our team of experts.
To conduct a valuation of your business, we require three years’ worth of recent/historic company accounts. The financial records presented by your business, such as profit and loss statement, cash flow statement and a breakdown of company assets and liabilities, as detailed in the company balance sheet, will establish the financial position of your business.
In addition to the company valuation, prospective buyers may be interested in brand perception, brand community and additional assets such as websites, social media presence and marketing strategies. If your brand is trusted by your audience, this can be backed by the percentage of recurring customers and public attitude towards your business.
At Selling My Business, our multi-disciplinary team are specialists in a wide range of sectors, from hospitality, entertainment, and media, to transport, construction, and hire. Following over 60 years’ in the industry, we have developed a tactical approach to maximising the sale value of your business and securing reputable buyers with the passion and determination to drive your business to the next level. For more information on our services or for a valuation of your Health and Beauty business, contact Selling My Business on 0808 253 4493.
Contemplating selling your business? Our free, comprehensive guide will walk you through how you can sell your company. Our FREE guide covers all of the essentials, including:
• Are you appointing an experienced advisor?
• Are you giving your business a realistic sales price?
• Will all potential buyers for the business be approached?
• How much will the sales process impact business performance?
Plus much more...