The Global Franchise Market is the official franchising event in Dubai

Seasoned Seller Safwan Ul Amin – CEO WeSellAnyBiz

Safwan Amin

Why is it important to begin with the end in mind? The reasons to sell could be varied, like retire with equity, desire to travel, start a new venture or maybe move to a different phase of life. Finding the right buyer, with the passion to commit and scale the business to new heights is important. Likewise, the buyer benefits from lower risk than starting from scratch. Moreover, the buyer is looking at real profit and loss numbers from the company’s history and not just estimates. Additional contributions from existing intangible assets are also included in most cases. Buying or selling a business requires a professional intermediary to help find a range of interested parties, to help you shortlist the best available in the market. That is why, seasoned seller, Safwan Ul Amin – CEO WeSellAnyBiz based in London, has created a platform where you can engage with business buyers and sellers online.

1. How did you start your business in selling?

My previous business experience in various industries resulted in a strong network of connections with many B2B companies in the UK, Europe and the Middle East region. Some of these business owners wanted my help to sell their business or know more about other business opportunities through my network. Initially, it was all done as a goodwill gesture. However, later I realised that my skill at selling a business can be leveraged as a business model. And that is how  WeSellAnyBiz was formed in United Kingdom.

2.Where and how did the idea of your concept come from?

As previously mentioned the idea of the concept came via my connections from previous businesses. But I had to figure out a way of connecting business sellers with business buyers. What I realised was that I could manage only a small number of business sales myself as its quite extensive work talking to buyers and sellers and arranging viewings, sending each other documents, etc. So what I decided was that I needed a website that would connect the sellers and buyers and they communicate with each other instead of me being involved in each sale. So I designed and developed wesellanybiz.com which allows the business owners to list their business for sale and connect directly with potential buyers. The platform also allows franchisers to advertise their franchise business to potential franchisees.

The website took almost six months to develop from scratch and after its launch, in May 2020 we have experienced a huge number of businesses being listed and a lot of visitors visiting the platform.

3.What are the services that you provide to your clients?

So basically the services we provide via wesellanybiz.com are to sell business or franchise via our website for a small listing fee.

We do not charge a commission (with exception in some industries and in some large turnovers we may get involved and charge commission for it). But the majority are commission-free and the sellers and buyers connect and negotiate themselves.

The sellers pay a fee via our website and then we send them login details for them to create their listing, they add all the relevant information such as business introduction, sales figures, rents, location, other relevant information and upload their images. Once we approve the listing it becomes visible on our website. Interested buyers then contact the seller directly to enter into further discussions. For franchise sales, we create the ad on behalf of the franchise businesses. Our listing plans range from £150 for 3 months or £350 for the whole year with dedicated business managers, who will help you create and set up ads on our website.

I would like to add that the main reason for us to exhibit in The Global Franchise Market Show – TGFM in Dubai is to offer franchise businesses from Middle East, Saudi Arabia and other Arab countries who wish to expand their business in the UK via franchising, the service we are offering is to connect the franchise owners to interested UK parties who are seeking exciting new franchise opportunities. Our website is visited by 1000s of visitors each day.

However, we will not be involved in any capacity in negotiations or offering any advice to sellers or buyers in franchise sales. There are many articles on our website which offer some help and advice but we recommend each party to do their research into the world of franchising.

4.What are the criteria that you look for to enlist a business?

There are no set criteria, anyone with any business or franchise can list their business for sale on our website for a small fee. The sale of the business would depend on how attractive it is to a potential buyer. That depends on factors such as turnover, profitably, location and future growth potential.

I would like to add that, selling a business could be for many reasons, and does not have to be seen as something negative. For instance, to free up capital for another opportunity. Markets and businesses change and so do consumer habits so it’s essential to have an exit strategy if you feel that your time, effort and resources can be more beneficial to another business or another brand new startup.

5.What sets you apart from your competitors?

Competition is always healthy in any walks of life as it makes you perform better. Further, it helps better yourself with learning, studying, and skills to lead the way.

Our website is advanced and user friendly.  It has many advance features which cannot be found in other business sales platform, thus enabling us to become a market leader in our field within a short period. We will continue to invest in the latest technology to make sure we stay at the forefront and lead the business sales platform in the world.

6.What are the essential qualities that you look for in a business buyer?

As our website is a listing platform that allows business sellers and business buyers to connect without our input in the sale. Thus, we recommend both sides to do their due diligence about each other prior purchase. This includes the buyer’s previous business experience, buyer’s capability for access to capital to purchase the business. If they do not have the capital what are the chances for them to raise capital with their credit history.

As for franchisees offering franchises for their business, we recommend they have a clear plan, terms and conditions. Also, check the legal side of franchise agreements before entering into any partnership. Most importantly, check their financial capability and past business experience.

7.What was the major challenge you faced in your career, and how did you overcome it?

Well to be honest every day is a challenge in business, almost every day something goes wrong and nothing ever goes to plan or the way you want it. It tests your patience, resolve and character. That is why very few businesses survive. But as an entrepreneur we must overcome those challenges by adapting, learning, showing mental resolve and continue moving forward without giving up.

Currently, we are facing COVID-19, which has crippled many economies, industries and many businesses from small to the corporate level. We can and we will overcome those challenges too by firstly being patient, cutting costs and planning. So when business and the world does go back to normal and it will, then we will be in a position to maximise our revenue and get our businesses back on track.

7.1 What is your best achievement?

My best achievement would be that I have lasted as an entrepreneur since I left University in London, for over 15 years. I was £500 overdrawn in my bank account at that time. However, I turned that around and have been fairly successful ever since. But as you know in business there is no limit. And I aspire to achieve more, work hard, continue to learn and hope for more success.

8. How does your business day start?

I always wake up at 8am, every day, the more you sleep, the lazier you become. I also eat healthily and exercise daily which I find keeps my mind and body feeling healthy and fresh.

9.What was the best moment throughout your career?

I would like to say that pretty much all the businesses I have started none of them have ever failed. I have managed to launch many successful startups and delivered exceptional growth and profitability.

This has been due to hard work, integrity, honesty and skills learned on daily basis to keep making progress.

10.Where do you see your brand in the next 5 years?

I see WeSellAnyBiz as the leading business sales platform worldwide.

Our next phase of launch would be to have dedicated websites for UAE, Saudi Arabia, USA. The development work has already started and should roll out one by one within next year.

Currently, we are seeking investment from venture capital firms and private investors to raise capital for the development, marketing and advertising. We have had numerous positive meetings with investors who see massive potential in our business and believe this could be the next big thing.

11. Any tips and insights do you want to impart to our readers?

Do your best in anything you do and do not leave any stone unturned when you are working. Work as your destiny is in your own hands but leave the results to God’s will.

WeSellAnyBiz logo

 

Get to know who are the industry key players, visit our Interview of the Week page.

To stay updated, visit our Franchise News section.

To learn more, visit our Franchising Tips section.

 

1 Comment

  1. Pingback: Our CEO Interview with The Global Franchise Market - Wesellanybiz

Leave a Comment

Your email address will not be published. Required fields are marked *