Retirement means holidays without the laptop
With an online, e-commerce business buying stock from the USA and the Far East and selling just about everywhere, Tabtime had grown to be a truly international business. Yet it was still a ‘Mom & Pop” store, run by our clients with just a couple of ancillary staff.
When retirement finally came knocking, we were happy to help.
Here’s how Terry tells it;
“I was selling Tabtime as I was ready to retire, I’d run the business for forty years. The idea came about initially in April 2017 when someone approached me and asked to buy the business. We didn’t proceed at the time but it certainly sparked the initial idea.
I spent some time from then making improvements to products and resolving certain matters. When I put the business on the market I worked with both Alex and Paul. Paul was the frontman whilst Alex worked hard in the background. They were always diligent and on hand, quickly responding and I felt like I could ask anything I needed.
The first offers received were on the low side, but Uscita got a few buyers on the hook and using a sealed bid process managed to increase the initial offer by over 30%.
Uscita helped me to keep the sale discreet, although I had approached suppliers and customers who were potentially interested before proceeding.
My main concern about selling my business was what I was going to do with my time! Of course, I also wanted to ensure I had enough to retire on.
What I’ve enjoyed most about retirement is having time, time I can spend with my wife and family and being able to go on holiday. Before the sale, if we went away business was always on the mind. Now we can go away laptop free! Our routines are also very different, with no early or late calls with international suppliers. The business was 24/7, very hands on and we were very involved. Now we have breathing space.
When considering the sale, I had looked around for potential brokers and wanted to work with someone local. Uscita fitted the bill perfectly, they have national coverage with a local feel. I was confident in using their service and felt comfortable that they were not based too far away.
I’m not one for going over the top with my praise but I would recommend Uscita and was happy with their service.”
Mr T Jackson, Tabtime Ltd
If you would like to speak to us about the possible sale of your business, please get in touch.