Business is being listed for sale, we’ve filled out the forms and had the valuation redone at 450k, not bad for something that 12 months ago we were thinking of walking away from without anything! They’ve added both wages into the net profit and then done a 2.2 multiple on net profit, which is better in our opinion that the other broker who was leaving one wage and doing a higher multiple on the lower figure. Also their fees are only 2.5% on sale price, both were charging around 4k for listing and advertising fees, which when we looked into the websites they were listing on looks like they have very little margin in that.
We solidified some processes like recruitment and training, our new sales person seems to be getting the hang of it now, so fingers crossed we can keep that going. The specials we are running have a made a huge difference, so it does seem that having a lower price in slower months like winter and higher price in summer might be the way to go. Crazy thing is our definition is some other companies high as we can see what their pricing is.