This week we caught up with Marc Richards, who recently sold his business, the lettings arm of Gibbins Richards after over 40 years in the sector.
After losing faith in his broker, he turned to Atomic and we turned the deal around, recovering £10,000 worth of lost legal fees (from the original deal) in the process.
We found a great new buyer, with a personal tie to the business, who can help to drive it forward into an exciting new future.
And as for Marc? Well, we sat down to ask him a few questions as he looks ahead to his own future.
Why did you decide to sell?
After 41 years in the sector, I decided it was time to retire! I love the industry and have worked alongside some great people, but I just felt it was time.
We have a second home in the Mediterranean, so we plan to spend lots more time there and just generally enjoy ourselves.
Why did you choose to get external support from Atomic?
To be honest Atomic weren’t my first choice. I went with another company and started the process, but I just wasn’t happy with their services.
It was such a change when I started working with Atomic, they were absolutely superb from day one.
How did the team at Atomic help?
They add incredible value to anyone looking to exit their business.
They packaged the whole thing and handled the negotiations with ease. There were various complications along the way, and they stayed involved, helping to get everything resolved.
What lessons have you learnt?
That selling your business isn’t easy and if you think you can do it on your own then you’re being naïve.
We had complications with branding matters, and Atomic helped moved everything through with ease and delivered an excellent service.
How do you feel now that the sale is through?
Mixed emotions to be honest, it has been my baby for a long time.
My primary concern was my team, and how they would be dealt with by the new buyers, but that seems to be going well.
I have a workout period for the next few months, just for a smooth transition, so ask me again in June when my retirement really begins!
What advice would you give to others going through this process?
Think about what could go wrong before you even start!
You’ll be surprised by what can come back to bite you! Atomic really are great at identifying the warts and the beauty spots of your business.
For a no-obligation consultation or to discuss a potential business sale in confidence, get in touch with Atomic Consultancy today.
