How to Sell your English Language School Business (Part 3)

How to Sell your English Language School Business

Issue 8 is the final part in the linked series describing the 12 Critical Steps to a successful sale of your Language School business.

James will also share what he got right when he sold Pilgrims Language & Teacher Training Courses of Canterbury and also, the mistakes he made!

The final 4 Critical Steps on the way to a successful sale...

Write the Marketing & Sales Plan to sell your Business

• List all the possible types of Buyer such as: Trade; Private Equity; Direct Competitor; Buy & Kill; Synergistic; UK or Overseas; Buy for Residency; Private Investor; MBOs.
• Is your Language School business in a specialist sector of the market with limited buyers; or is the market for your business more open?
• Prepare your Hit List of possible Buyers by name.
• Prepare the Confidentiality Agreement.
• Write and distribute an anonymous Teaser to your Hit List. This says you are a business for sale and gives enough information to attract Buyers to ask for more information.
• Send a CA to those who respond to your Teaser.
• Write, design and produce a quality Information Memorandum about your business. This is a prospectus written to attract Buyers; and to ask them to Bid for your business.
• Distribute the IM and ask for Indicative Bids.

Sell it

• Run a competitive Auction.
• Identify the Top 3 Indicative Bidders.
• Open the Data Room; and invite Indicative Bidders to enter and then to place a Confirmed Bid subject to contract.
• Negotiate with Bidders.
• Sign HOTS with chosen Bidder.
• Hand over to your Solicitors and Accountants to Complete.
• Manage the Completion process.
• Keep 2nd and 3rd Bidders warm in case chosen Bidder pulls out.

STEP 9: Marketing & Sales Plan...

STEP 10: Selling...

Sign and Collect Cash!

Congratulations - now sail off into the sunset and go fishing!

How to Sell your English Language School Business continued/2...

STEP 11: Success...

STEP 12: The Reward...

Despite my 12 serious mistakes during the selling process...

• I sold Pilgrims at a record price for my industry.
• If I had been properly prepared, organised and advised, I could have got a lot more.
• But in the end, I got enough and sailed away into the sunset to ‘go fishing’!

PS: When James is NOT fishing, he is offering a 60 minute 1-1 tutorial on How to Sell your English Language School for only £200+vat.