Time for a new industry venture that ticks all the boxes
Tabtime had grown to be a truly international business when owner Terry decided it was time to retire. With masses of potential for optimising the business in terms of its online presence in the industry, scope for developing new trade relations and ideas to expand stock lines, buyer Aziz was intrigued.
We were involved with both the buyer and seller throughout the process. You can read seller Terry’s account of the process here.
Here’s what Tabtime’s new owner Aziz Tarafder had to say;
“I’d previously worked for large corporate businesses for 18 years and felt it was the right time for me to look at setting up my own business. I’d looked at various different business types and had explored different brokers.
I wasn’t looking to purchase in any specific industry, I was looking for something I knew I could pour my business acumen into and grow. I had a broad criteria but my aim was to purchase a niche online business that I could run from home, allowing me to spend more time with family and travel less. I have a varied background and experience so I wasn’t phased by entering into a new industry.
I found Tabtime reasonably early on in my search for acquisition but continued to look at other potential options. However, it stuck with me and I kept coming back to it, Tabtime ticked all the boxes and I was intrigued. The business was stable and I felt there was a lot of room for optimising the business, especially in terms of e-commerce and reviewing the stock.
Once I’d decided to proceed, I worked with both Alex and Paul at Uscita, they were a great combination and very responsive. They represented the buyer, Terry, very naturally. Paul particularly impressed me with his honesty, he made sure I was aware of any other offers on the business. He was transparent and communicative regarding competing buyers.
We did face some slight issues at the due diligence stage, this was a new process for both myself and the seller. Uscita were very constructive and supportive of both parties during this stage, helping to bridge the gap between buyer and seller very effectively.
I’d advise other buyers and equally sellers, to be aware of due diligence and the amount of information you’ll need to provide. Being aware of this would make the process smoother for both parties.
Since completing the purchase on the 11th of June, I’ve focused on new products, launching a new website (www.tabtime.com) to drive better sales and pursued new trade opportunities. I’ll also be looking at social media marketing further down the line.
The overall service was organised and the pre-purchase information was of decent quality. If I was looking to sell this business in future, I’d definitely work with Uscita and would recommend them and their pragmatic approach.”
Mr Aziz Tarafder, Tabtime Ltd
If you are interested in selling a business, buying a business, growing a business or simply understanding the value of your business, please contact us, in the strictest of confidence.