The Buyer’s Checklist: What Buyers Look for in a £200k–£2m Turnover Business If you spend any time in rooms with people who buy businesses, a funny thing happens. Owners talk about passion and don’t realise that BUYERS talk about risk. The two are at odds with each other. Owners talk about potential, buyers talk about proof. Owners talk about how hard they’ve worked, buyers talk about whether it will still work when you’re on a beach somewhere warm with patchy Wi-Fi. Do see you see where we’re going with this? And in the £200k to £2m acquisition range, that difference in perspective is brutal. Because at this level, buyers are not dreamers. They are more than likely trade acquirers, or experienced operators. They have usually been burned before. They have spreadsheets where optimism goes to die. If you are thinking about selling your business, or even vaguely hoping you might one day, you need to understand how they see you. This is the buyer’s checklist, and you need to know this stuff. You also need to know the “Top 20 Things You THINK Are Awesome”. These are the elements of business you THINK are great, and they’re actually not. Give us a shout, we’ll give that for free. Give me a shout here. The meeting that changes everything Picture this. You’ve built a decent company. Turnover is healthy, there’s profit in there somewhere, and your accountant says it’s worth good money. Your mate in the pub says you should ask for a million quid, because mates down the pub are all M&A Experts. So, you sit down with a potential buyer. They nod politely while you explain the journey, the sacrifices, the sleepless nights, the time you remortgaged the dog. Then they ask a question that lands like a brick… and they will ask this question… “What happens if you leave?” Suddenly the atmosphere drains out of the room, because this is what sits at the centre of almost every business valuation in this value bracket. Not growth, not brand, not the logo your nephew designed. It’s all about one thing in the eyes of the buyer, RISK. Buyers buy income, not effort Here’s the first hard truth you need to know. A buyer is not purchasing the blood, sweat and tears you poured into the place. That’s a job, and no one buys a job. They are buying future maintainable profit, PREDICTABLE profit, not guesswork. They want predictable cash flow. They want visibility. They want to sleep at night knowing the wheels won’t fall off the moment the ownership changes. If profits wobble every time you take a week off, you don’t have a saleable business. You have a job with staff, yes, that’s blunt, but it’s HONEST, and we don’t do bullshit here. The owner dependency problem Let me tell you about a deal that “nearly” happened. Solid company, around £1.4m in turnover with decent margins, strong reputation, and plenty of enquiries coming in. On paper, and to outsiders looking in, this was a good business. But during due diligence the buyer realised something uncomfortable. Every major client relationship sat with the owner, every pricing decision sat with the owner, and yep, every supplier negotiation sat with the owner. Can you see the problem here? When problems exploded, guess who fixed them? Yep. The owner. Remove that person and the machine coughed, spluttered and probably died. Now, the offer didn’t vanish, the buyer didn’t run, but the offer was revised substantially. WHY? It’s still the same profitable business FFS. Because the buyer now had to budget for rebuilding management, transferring relationships, and surviving the inevitable client wobble. The buyer revalued to account for “risk”. That reduction alone can be the difference between retiring well and seeing decades of work return a pittance. You have been warned, this is hard facts. Systems are sexier than charisma Small business owners often think buyers fall in love with energy and personality, sorry, they don’t. They fall in love with systems and processes. They want to see how leads arrive, how they are tracked, how they convert, how delivery happens, how money is collected, and how problems are handled. If your company runs on in your head, buyers see danger. If it runs on systems, buyers see scalability, and scalability multiplies value. Customer concentration is a silent killer Another example, and another near miss. A solid business, well established, great turnover, very high profits, and a loyal customer base. What the hell can be wrong there? Problem was, one client represented 38% of revenue, yes 38%. The buyer’s face tightened. Because if that client is lost, there is no business. Worse than that, the business was operating at full capacity, therefore unable to “dilute” that concentration. Again, the offer didn’t disappear, but it dropped, protections went in, earn-outs appeared, and suddenly the seller was being paid for the future instead of the past. Now from the owner’s perspective, it felt unfair, and it WAS, but this is the harsh reality of risk. All this is covered in “Go To $ell”, the raw and honest truth about exiting your business. I hate sales pitches or blogs that are full of upsells, so if you want a copy of that Amazon Best seller, just message me… Buyers interrogate your numbers differently When owners discuss profit, that can often mean, “After I’ve put the car through the business, adjusted a few bits, paid myself in a creative way, and normalised the normalisations.” You now know that buyers want clarity. They are trying to work out, “What will this business make for me after I buy it, and how quickly?” They will strip things back, they will challenge assumptions, they will look for consistency, and they will examine trends. Financial Due Diligence can be tough, REALLY tough, and you must be prepared for it. One messy year can be explained, COVID is a great example of this, but a “messy pattern” becomes a re-negotiation… downward. Clean financials don’t just make accountants happy; they build confidence, and confidence improves multiples. Growth potential is only valuable if it’s believable. Every owner says the same thing, “We’ve barely scratched the surface.” Buyers smile, because they have heard it a thousand times. Opportunity matters, but only when supported by evidence: capacity, demand, marketing channels, operational strength. We call this the “Growth Curve”, and it illustrates growth potential using a detailed formula that shows facts, not fiction. If you pull figures out the air with no logical back up, expect the buyer to walk. Well, laugh, then walk. Hope is not a strategy. If growth relies on you working even harder, it is not growth, it’s exhaustion with a marketing brochure. The team tells a story During acquisitions, buyers watch staff carefully. Are they confident? Do they understand their roles? Can they make decisions? Or do they keep glancing at you before answering anything remotely important? A capable, stable team reduces transition risk. It reassures buyers that continuity exists beyond the founder. Weak management equals expensive uncertainty. Why some businesses fly and others stall When deals move quickly and achieve strong prices, it is rarely magic. It is usually because the owner built the company as if they would one day sell it. Every business should be built to sell, and owner doing that ensures…. They reduced dependency. They documented how things worked. They developed people. They diversified revenue. They treated financial reporting like it mattered. By the time buyers arrived, the risk had already been lowered, and lower risk equals higher value. The uncomfortable conclusion.. An Inconvenient Truth... If a buyer walked into your business tomorrow and ran their quiet mental checklist, what would they see? Would they see a company that survives you? Or would they see a company that collapses without you? Because that answer will heavily influence whether you are looking at a premium valuation or a painful negotiation full of clauses, delays and disappointment. Most owners leave preparing for sale far too late. It’s never too early to start exit planning, but it can be too late. Every improvement you make to become attractive to a buyer also makes the business stronger, calmer and more profitable right now. It’s a win, win because sale ready is stress ready. Does that help you start your planning journey?

Employee Ownership Trusts in 2026: The Real Pros, Cons, and Risks for UK Business Owners Employee Ownership Trusts (EOTs) are once again a hot topic in UK business exit planning, but this time for different reasons. The EOT conversation has fundamentally changed since November 2025 . If you’re a UK business owner exploring succession, sale, or long-term continuity, it’s critical to understand what EOTs actually offer now, not what they used to. This article cuts through the outdated hype and explains how Employee Ownership Trusts work in 2026, who they suit, and where the risks really sit, across all business sectors, not just manufacturing or professional services. What Is an Employee Ownership Trust (EOT)? An Employee Ownership Trust is a UK-approved structure that allows a business owner to sell a controlling stake (over 50%) of their company to a trust set up for the benefit of all employees. In a nutshell, the participating employees “own” the business. Employees don’t buy shares personally. Instead, the trust owns the business on their behalf, with governance handled by trustees and day-to-day management remaining with the leadership team. The 2025 EOT Tax Changes: What Business Owners Must Know One of the biggest misconceptions still circulating online is that EOT sales are 100% CGT-free. They are not. Repeat, THEY ARE NOT. Since 26 November 2025, qualifying EOT disposals benefit from 50% Capital Gains Tax relief, with the remaining 50% of the gain chargeable to CGT. This change significantly alters the economics of an EOT sale and means the decision must now be driven by commercial and succession logic, not tax alone. Importantly: The relief applies only if strict qualifying conditions are met. Other reliefs (such as Business Asset Disposal Relief) cannot be stacked on top. HMRC scrutiny of valuations and funding structures has increased. Why Print Business Owners Still Choose Employee Ownership Trusts Despite reduced tax relief, EOTs remain attractive for many UK business owners because they offer: Succession certainty where no trade buyer or MBO exists. Business continuity without selling to a competitor or private equity. Protection for staff and culture , particularly in people-led businesses. A phased exit , allowing founders to step back gradually. For owners who care about legacy, independence, and long-term stability, an Employee Ownership Trust can still be the right exit route, just not the fastest or simplest one. This is the biggest misconception that I see, business owners thinking an EOT is the simplest and fastest exit solution, they VERY rarely are. What’s in It for Employees?.... Hint, it's NOT a Ferrari on day one. Employees benefit through indirect ownership, not personal shareholdings. When implemented properly, this can lead to: Higher engagement and retention. Greater transparency around performance. Eligibility for income tax-free bonuses (up to £3,600 per year). A stronger long-term commitment to the business. However, employee ownership is not a guarantee of higher pay or job security. Bonuses depend on profitability, and commercial discipline remains essential. This is another area of misconception. The business must be profitable to pay that bonus, no cash, no bonus. There’s no magic “Government EOT Fund”. Also, the bonus, while tax free, is still subject to National Insurance payments. The Biggest Risks of an Employee Ownership Trust EOTs fail when realism is replaced by optimism. The most common risks include: Overvaluation, leading to unsustainable debt. Cash flow strain, limiting reinvestment and growth. The business in effect “buys itself”, so those payments can massively impact cashflow. Owner dependency, where the business cannot function without the founder. An EOT can only work when there’s a STRONG and CAPABLE management team to take over from the previous owner(s). Poor communication, resulting in confused or disengaged employees. An Employee Ownership Trust is not a rescue plan for struggling businesses. It works best when the company is already profitable, stable, and well-managed. How Are Employee Ownership Trusts Funded? Most EOT transactions are funded using a mix of: Deferred consideration (vendor loan notes) - in effect, the business "buys itself". Bank or third-party finance, where cash flow supports it. Limited upfront cash. The key principle is affordability. The business must still be able to invest, grow, and withstand economic shocks while servicing the purchase price. Preparing for an EOT: Business and Personal Readiness Successful EOT transitions require preparation long before completion. Preparing a business for an EOT follows virtually the same path as a business preparing for outright sale. An EOT is NOT a route to avoid that work. From a business perspective: Strong management accounts and forecasting. Reduced reliance on the owner. Clear leadership and governance structures. From a personal perspective: Acceptance of reduced control. A defined, time-limited post-sale role. Willingness to prioritise sustainability over headline price. Costs and Timeframes Most Employee Ownership Trust transactions take 6–12 months and cost £30,000–£100,000+ in professional fees, depending on complexity. Some can of course be less, it’s very much dependent on the size of the business and structure of that business. A £2m business would expect to pay around £60,000. It’s also worth pointing out that handover periods with the current owner(s) can vary considerably. Rushing the process is one of the most common and costly mistakes. Final Thoughts: Are Employee Ownership Trusts Still Worth It? In 2026, Employee Ownership Trusts are no longer a tax shortcut. They are a strategic succession choice. For the right business, profitable, people-driven, and future-focused, then an EOT can deliver stability, continuity, and a dignified exit for owners. For the wrong business, it can simply defer problems. The business MUST have a strong and capable management and leadership team to drive the business. If you’re considering an Employee Ownership Trust, the question is no longer “How much tax will I save?”. It’s “Is this the right long-term structure for my business and my people?”. If you would like to discuss this further, give me a shout here.

Why You’re Working Flat Out But Still Not Making Real Money Many businesses make the mistake of confusing busy for profitable. It’s not always the case. If your diary’s rammed, your phone’s constantly buzzing, and you’ve not stopped for lunch since Covid, then you’d assume the money must be rolling in, right? But somehow, when it’s time to check the bank account or pay yourself properly, the numbers just don’t seem add up. How’s that possible? You’re crazy busy after all, the presses haven't stopped churning out for weeks... L et’s be blunt: being flat out isn’t the same as being profitable. In fact, being flat out can hide a whole lot of business problems. So, if you feel like you’re working yourself into the ground but still not getting ahead, let’s have a closer look at where the time and money might be leaking. 1. You’re Saying Yes to the Wrong Work You take every job because saying no feels rude, or risky. You don’t want to lose out. But some jobs just don’t pay. You know the ones: • Too small to be worth the travel. Now small jobs can be profitable, or SHOULD be profitable, so just watch these. • Clients who haggle harder than a car boot sale regular. Oh yes, “them”. • Projects that blow out on time, materials, and patience. We have all had them. • Clients that complain about everything just to get a discount, and that discount is your profit. Profit tip: Track your most profitable job types, and your worst. Then get braver about saying “thanks but no thanks” to time-wasters. Not all work is good work. 2. Your Pricing’s Based on Hope, Not Maths You think you’re priced right. You looked at a few competitors and thought, “That’ll do.” But you never sat down to work out your real costs: • Time on site (if applicable), adding for contingency too. • Fuel, materials, wear and tear, very few consider this. • Admin hours, phone calls, quotes, those costs simply don’t go away. • That bit where you have to go back and fix it when they “change their mind”. • The running costs and other expenses within your business. Profit tip: Price from the bottom up. Know your hourly rate, your overheads, and your margin. Otherwise, you’re gambling, not quoting. 3. You’re Drowning in Admin Quoting at night, chasing invoices in your van, trying to manage everything from a phone that’s ringing before you even get a chance to answer that email, it’s utter chaos. And chaos eats profits. Because the longer it takes you to get a quote out or chase payment, the more money goes missing. Profit tip: Systems don’t need to be fancy. But you do need some. A basic CRM, quote templates, and automated reminders can save hours (and make you look more professional). Here’s something else to consider. With low cost CRM systems and superb accounting software, there’s no excuse for admin chaos. With AI gaining strength, admin and support is better and easier than ever before. So, the excuse of not wanting to “recruit anyone”, well, those days (excuses) are gone. 4. You’ve Got Too Many “Maybes” and Not Enough “Hell Yes” Clients It’s hard to grow when your work comes from a random mix of mates, and whoever stumbled across your website by accident last week. No plan = no predictability. Profit tip : Spend time attracting the right kind of clients. That means marketing that works, follow-up that’s consistent, and referrals that come from happy customers (not desperate pleading). This is absolutely key. Marketing is only a COST to the business when you don’t track, or KNOW what works. Make marketing an investment, spend £10 get £100. Spend £100, get £1000, get the idea? 5. You’re Not Charging for All the Work You Do How many of these ring a bell? • Free site visits without doing any “Qualification” with the prospect first? • Long phone consultations before asking the key questions around budget, time scales and expectations. There’s no point in being on the phone for an hour then discovering their budget is £5000 for your £25,000 kitchen, or they need it next Wednesday for a Birthday Party. • “Quick” design tweaks or spec changes. Being helpful is great, eroding your profit is not. • Extras on jobs that you just chuck in “to be nice”. Same as above, don’t get sucked into this. Make sure that you’re clear with your order on what’s included and what’s not included. This only goes “pearshaped” when you haven’t been clear on what's included and what’s NOT. Profit tip : Stop being nice at your own expense. Create clear scopes of work, get sign-off, and charge for your expertise. You’re not a charity. 6. You’ve Got No Time to Think, Let Alone Plan When every day is a firefight, the bigger picture disappears. You’re working in the business, not on it. And that’s how years fly by and nothing changes. Profit tip: Carve out an hour a week. Review what’s working. Bin what’s not. Plan what’s next. Even one hour of strategy a week can stop your business running you. Bottom Line: Busy Isn’t the Goal, Being Profitable Is You didn’t start this business to be the most knackered person in your postcode. You started it for freedom, income, and maybe even a bit of pride. So don’t settle for being flat out with an equally flat bank account. Start plugging the leaks, pricing with purpose, and building a business that pays you, not just your suppliers. Avoid discounting, it kills margin. Every penny of discount comes right off your bottom line. Need help figuring out where your business is leaking profit? Let’s have a chat, I can share a ton of advice and guidance. I was that soldier. I grew my business to a very successful and very profitable £1m business. That continued towards and passed £3m. As the journey continued the profits DROPPED, massively. Why? How? Let me share that with you. If you're super serious about this - book a Power HOUR with me - it's free, and we'll cover TONS of stuff.

3 Simple Ways to Charge More Without Losing the Job, or your SANITY I know what you’re thinking, I’ve been there. But try this, because printers in general ain't very good at this. (just sayin') Right now, you’re probably working harder than ever, long hours, last-minute client changes, juggling deadlines, and still thinking “Where’s all the profit?” Why? Because too many good print and graphics business owners get stuck in the race to the bottom. Competing with the big online printers. Knocking prices down just to win the job. Doing favours for “good” clients who still expect discounts. Does this sound familiar? And what happens? 👉 Your margins shrink. 👉 Your stress goes up. 👉 And you end up resenting the work you used to love. But here’s the thing: you CAN charge more, and keep the job. In fact, you’ll often gain better clients in the process. We all know that customers won on price are always lost on price as some idiot is always cheaper. Are your “cheap customers” the ones that you enjoy working with? Asking for a friend!! Let me show you how I think this works – it worked in my print business. 1 - Stop Selling Just Print – Sell the Outcome Here’s the brutal truth: Most customers don’t care about print. They care about what it does for them. They’re not buying “500 leaflets on 170gsm silk paper”. They’re buying more footfall in their shop, a better-looking brand, or a way to look more professional to their clients. If you’re only quoting for “leaflets, banners, business cards,” you’re a commodity. They can price-check you online in seconds. But if you frame it like this: “This pack will give you everything you need to attract more walk-ins for your new café launch. We’ll design, print, and even advise where to place them for maximum impact.” Try comparing that !!! How do you like them apples? Suddenly, you’re not competing with VistaPrint. You’re solving a problem, and that’s what your customers are buying. Try this. “5000 leaflets, full colour, 130gsm gloss for £99” is that what the customer is buying? NO, not in a million years. This is what they are buying, “5000 leads for less than 2p each” YOUR Action step: When quoting, don’t just list the spec, explain the benefit they’ll get. Add a line that ties it to their goal. Not “Vehicle wrap – £650” Instead: “A moving billboard for your business, seen by thousands locally every week – £650.” Like the leaflet example - “5000 leaflets, full colour, 130gsm gloss for £99” is that what the customer is buying? NO, not in a million years. This is what they are buying, “5000 leads for less than 2p each”. I used that EXACT phrase in my business and saw conversion rates TRIPLE. Clients will happily pay more if they believe it leads to better results. Can you see the difference? Please tell me you can... 2 - Make Yourself the Safe Choice Here’s why some clients push back on price: they’re scared. Scared they’ll waste money. Scared the print will look cheap. Scared YOU won’t deliver. So, they default to the lowest price. If you’re the same (in their eyes) as every other printer, then the choice will be made on price. YOU NEED TO STAND OUT – YOU NEED TO BE THE OBVIOUS CHOICE. WHEN you show them that you’re a safe, trusted pair of hands, they’ll pay more for peace of mind. How do you do that? • Show examples of your work solving similar problems. Not bloody pictures of leaflets, sorry, they are not interested. Show examples of problems being solved. • Share testimonials from real clients (bonus if they’re local or in the same industry). • Explain your process clearly so they know what to expect - no surprises. Customer crave clarity. • Use visuals: before-and-after photos, videos of jobs, even a quick timelapse of a sign install. When they feel confident you’ll get it right the first time, price isn’t the main deciding factor. YOUR Action step: Turn every project into a mini case study. Post it on your website, social media, or even as a one-page PDF you can send with quotes. Show the result they got, not just the print you produced. Remember, it’s not the product that’s exciting, it’s the BENEFIT that product provides. It’s the pain point that product removes. 3 - Offer Better Options (and Anchor the Price) Most print and graphics businesses make one classic mistake: they send a single price and hope for the best. I know I used to do that, so I learned the hard way. But smart businesses give options, and the middle option is usually the “preferred one” Why? Because when you give one choice, clients can only say YES or NO. But when you give three choices, they start thinking “Hmm, which one?” Does that make sense? Example: Basic – £250 – Standard design + print (what they thought they needed) Better – £375 – Design refresh + premium finish + delivery Best – £550 – Full design revamp, premium finish, PLUS a mini social media promo graphic pack Most people pick the middle option, which is already higher than what they originally planned to spend. And some will surprise you and go for the top tier, because it feels like better value compared to the rest. This is called price anchoring, and it works because you’re shifting the decision from “Should I buy?” to “Which one should I buy?” YOUR Action step: Next time you quote, send three versions: Good, Better, Best. And make sure the “middle” option is the one you actually want them to choose. Give the options catchy titles and avoid at all costs making the lower option look like a poor alternative. You’ll notice in the above example I used “Good, Better and Best”. So, avoid things like “Bronze, Silver and Gold” – no one wants to win bronze. The Harsh Reality… Are You Ready For This? If you keep competing on price, you’ll burn out and go broke. There’s always some idiot cheaper, especially in this game. The big online printers will always undercut you. They have economies of scale, you have the personal touch, so damn well use it. And the “cheap” clients who haggle the hardest? They’re the ones who complain the loudest. But when you: ✅ Sell outcomes, not just print specs ✅ Make yourself the safe choice ✅ Offer better options with price anchoring …you stop being just a “print supplier”. You become a trusted partner who helps clients look good and grow their business. And that’s worth paying more for. Want to Stop Working Hard for Pennies? I help print & graphics businesses just like yours GROW by attracting better clients who actually value your work STAND OUT in the market and charge more without constant pushback PLAN your business and build a pipeline so you’re not living month-to-month NOT FUCK THINGS UP because that's what I did, and it hurts Want to see how you can make this work for YOUR business? It’s all based on the “Inverted Business Growth Model” from my #1 Best Selling Book “How To Wreck Your Business”. I have seen the enormous success that print creates, and the hull crushing lows when it goes wrong. I’ll share BOTH with you. Are you REALLY serious about growing? If you are, I offer a FREE Power Hour where we can talk SERIOUS business. How does that sound? Book it here .