Toundjel Chimen had been in the dry-cleaning industry for 38 years. Having run his successful West London business, Hamlyns, for 25 years, he finally decided to retire.
Toundjel considered several options before he settled on BusinessesForSale.com.
“I made enquiries about getting a business broker to sell my business for me, but after I saw how much commission they would have charged, I decided to do it myself,” he told us.
Advertising as a private seller on BusinessesForSale.com was “much better than getting an estate agent or a business broker to do it for me,” said Toundjel, because it allowed him to keep more of his hard-earned profits.
Placing the advert
Toundjel told us about his experiences placing the advert: “I found BusinessesForSale very user-friendly and convenient for selling my business. The software was great and I could edit my listing at will.
“I found it was very enjoyable, a very pleasant experience. The account was so manageable and it was so easy to edit. There were no complications and everything ran very smoothly.”
Many businesses for sale attract enquiries from timewasters. It’s all part and parcel of selling your business on the internet.
However, Toundjel found that he could tell the difference between genuine buyers and the timewasters, because the latter only wanted to find out how much money the business made.
“There were about eight serious offers for the business and 750 hits on my actual advert page. Finally, I whittled it down to one and I’m happy with the person who’s taking it over.”
He told us he was “very happy with the amount of interest his advert generated. I had offers the very next day and I took it off the market after about two or three weeks. I was very happy with the outcome.”
Choosing a buyer
Toundjel was looking for buyers who wanted to know about more than just his profit margins. “I wanted them to look at the shop and what we provided to the community and what sort of service we provide.
“I wanted someone to take over the business and carry on the good work that I’ve put in over the last 25 years.”
He chose his buyer based on several things. “I liked their sincerity, they sounded honest and they were currently in the same business, so they have the knowledge as well.” So he was reassured that his business was going to be in capable hands.
The overall experience
“I didn’t find any challenges,” Toundjel said of selling the business online. “BusinessesForSale.com seems to have accommodated for everything.
“They have the experience to deal with people and their problems and provide solutions. I was very happy and there was nothing complicated about it whatsoever.
“If I were ever to sell a business again I would use BusinessesForSale – definitely. I would recommend them 100%. I have recommended BusinessesForSale to many friends, actually. They were impressed by how quickly the business sold.”