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Selling ltd co

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    Selling ltd co

    I have been approached by a company who is interested in buying my ltd co.

    Has anyone come across this?

    Why would anyone be interested in purchasing my ltd co? It's not as if it's a brand name like John Lewis.

    Can someone please shed some light?

    Furthermore, if I do intend to sell, how would I know what is a reasonable price, for example suppose a buyer is willing to pay £10K (which I didn't know) but the agent offers me only £5K?

    Thanks

    #2
    How much money do you have in it?
    'CUK forum personality of 2011 - Winner - Yes really!!!!

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      #3
      A fair price is one that you are happy with - do they expect you to stay on, or is it simply that they want your company brand name and website?
      The greatest trick the devil ever pulled was convincing the world that he didn't exist

      Comment


        #4
        Originally posted by northernladuk View Post
        How much money do you have in it?
        Not much, under £50K. If I do intend to sell, I'll take it all out first.

        Originally posted by LondonManc View Post
        A fair price is one that you are happy with - do they expect you to stay on, or is it simply that they want your company brand name and website?
        Not decided yet. I just can't see why they would be interested. Anyone could set up a ltd co easily.

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          #5
          If there is no significant IP or other commercial value that might be attractive to another company (other than cash), it's probably a scam of some kind.

          Comment


            #6
            Originally posted by jamesbrown View Post
            If there is no significant IP or other commercial value that might be attractive to another company (other than cash), it's probably a scam of some kind.
            I thought so too.

            Any tips that I can verify? Would it be prudent to leave it all in the hands of my solicitor, to ensure it's all legitimate?

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              #7
              Originally posted by smileyface View Post
              I thought so too.

              Any tips that I can verify? Would it be prudent to leave it all in the hands of my solicitor, to ensure it's all legitimate?
              I don't think I'd even bother TBH; once you engage with a scammer, you're not going to get rid of them easily. But if I did, the first thing I'd want is an explanation that didn't smell. I can't really think of one, so there probably isn't one, but there might be one.

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                #8
                Originally posted by smileyface View Post
                Not much, under £50K. If I do intend to sell, I'll take it all out first.



                Not decided yet. I just can't see why they would be interested. Anyone could set up a ltd co easily.
                Your company is the name they want? For example, AutoTrader.co.uk and AutoTrader.com are two entirely different organisations on opposite sides of the Atlantic. The Dutch and South African sites are both part of the UK business. If the USA one hadn't been established, I'm sure the UK version would have set it up.

                Ask to retain a 10% shareholding and 3/4 of your original asking price if you're not going to be involved in the future business. Money for old rope.
                Last edited by LondonManc; 16 January 2020, 12:58.
                The greatest trick the devil ever pulled was convincing the world that he didn't exist

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                  #9
                  There are a very small number of situations where a company "buys" a history, certain (mainly gov contracts) will not go to newly formed companies. These are very niche cases thought
                  Originally posted by Stevie Wonder Boy
                  I can't see any way to do it can you please advise?

                  I want my account deleted and all of my information removed, I want to invoke my right to be forgotten.

                  Comment


                    #10
                    Originally posted by LondonManc View Post
                    Your company is the name they want? AutoTrader.co.uk and AutoTrader.com are two entirely different organisations on opposite sides of the Atlantic. The Dutch and South African sites are both part of the UK business. If the USA one hadn't been established, I'm sure the UK version would have set it up.

                    Ask to retain a 10% shareholding and 3/4 of your original asking price if you're not going to be involved in the future business. Money for old rope.

                    Originally posted by SimonMac View Post
                    There are a very small number of situations where a company "buys" a history, certain (mainly gov contracts) will not go to newly formed companies. These are very niche cases thought
                    Thanks for the info.

                    Originally posted by jamesbrown View Post
                    I don't think I'd even bother TBH; once you engage with a scammer, you're not going to get rid of them easily. But if I did, the first thing I'd want is an explanation that didn't smell. I can't really think of one, so there probably isn't one, but there might be one.
                    The company who approached me seems legit, ie they have an address and website

                    Given the IR35 status coming in effect in April, I thought rather than closing my ltd co down, selling would be "free money".
                    Last edited by smileyface; 16 January 2020, 12:59.

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