Family Financial Planners Bristol

See below to find small business financial planners in Bristol that give access to advice on financial planning, income protection, financial needs assistance, pension plans, and financial strategies, as well as advice and content on financial investments.


Cheques & Change
+44 (0) 117 930 4983
Wine Street
Bristol
Bristol Credit Union
+44 (0) 117 924 7309
112-114 Cheltenham Road
Bristol
Falcon Group
+44 (0) 800 929 1009
41-44 Triangle West
Bristol
Hendzel Associates
+44 (0) 117 925 0937
118 St. Michaels Hill
Bristol
Basil James Financial Services
+44 (0) 117 909 5868
262 Gloucester Road
Bristol
Edwards De Lancey Financial
+44 (0) 117 925 5500
139 St. Georges Road
Bristol
Welcome Finance
+44 (0) 117 966 6965
30 Cannon Street
Bristol
Hoodless Brenna
+44 (0) 117 910 5500
Rupert Street
Bristol
T & R Consultants
+44 (0) 117 942 3647
220 Gloucester Road
Bristol
Digby
+44 (0) 117 933 5544
31 Alma Vale Road
Bristol
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Buy a Business with Personal Equity or Seller-Finance

This guide is provided by BusinessesForSale.com - a leading global website for the buying and selling of small and medium-sized businesses.

Buying a business can be an extremely expensive process and the way that it is financed can have a significant impact on the business success going forward. Quite often, financing options such as loans, business angels or venture capital can have high costs or unfavourable terms attached. The interest charged on a loan, for example, could be a major cost to your business.

It is therefore worthwhile investigating two alternative methods: personal equity and seller-financing.

Personal equity

If you've chosen to buy a business then you're already prepared to make a financial commitment. Exactly how much you're able to invest is a personal matter, but in general you should be putting up a minimum of 20% of the asking price.

By demonstrating that you've got the confidence to invest in your own venture, you will be sending out a positive message to potential financiers.

There are several ways you can raise the necessary equity:

  • If buying a business is a carefully thought-out strategy then you may have already set up an investment account. Small but regular contributions are easier to fund but won't satisfy an urge to BUY NOW
  • Your family and friends are probably the most supportive people you know. Don't feel ashamed to approach them and explain your situation. They can always say no. Perhaps you could draw up an information leaflet that will assure Uncle Vernon of your good intentions
  • Home equity mortgages, otherwise known as second mortgages, are a frequent source of funds for small business buyers. The interest rates vary but they are usually lower than other commercial lending rates

Seller-financing

This is a simple and effective way to finance the deal, without having to enlist the (more expensive) services of a third party. It works particularly well once the seller has chosen you as their preferred buyer. They want to sell to you as soon as possible, you want to buy from them. But you don't have the capital yet and they do.

Although it seems a strange concept, it is often in the seller's favour to help finance the sale:

  • Sometimes the seller is almost obliged to offer financial assistance in order to stop the deal from falling through
  • Many sellers actually prefer to take this role, perhaps providing up to 50% of the selling price
  • In the buyer's favour is the fact that interest rates offered in seller-financing are usually lower than a bank's rate and with a far longer amortisation
  • Make sure that detailed terms are drawn up and agreed, including tax implications

This method is highly respectable, can be beneficial for both parties and is even insisted upon sometimes by outside lenders before they will agree to participate.

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Strategic planners

When the company reaches a certain size, you'll start to feel you can bring 'actual' team members by employing people. It's worth noting, though that there are a couple of less expensive options before you take expertise on full time.

For example, a twenty-four hour answering service will make it look like your company has a twenty-four hour presence. A human voice to take messages and basic enquiries will be far more effective than just an answering machine, which customers don't generally like talking to. It will also be a lot less expensive than employing a receptionist.

"And if you become a limited company," says business adviser Peter Quest, "you can bring people on board in non-executive positions. You might be the ideas behind your business but through non-execs you can then acquire financial or marketing expertise, again without employing full time."

Having said this, it's important to be certain of the people you look to for mentor or even non-executive support. You need to make sure they have a well defined place on the team and that they know increased experience doesn't put them in charge:

"Advisers that come in and try to be paternalistic towards the company are not a good investment for the business," warns Jon Howes of chip design company NEuW. "If they're pushing too hard in one direction the business locks, everything becomes a fight and the company doesn't go anywhere."

As the company grows your team building needs to take on a more strategic plan - if it hasn't already. You need to look for the critical success factors in your business or in other words team members crucial to your next stage of growth.

Business Link's Brian Steel has an example: "If you are company that provides materials for oil rigs, you must have an agent in Aberdeen. Trying to operate this yourself from the south of England will prove more difficult, time consuming and less effective."

In this case, it is critical to the success of the business that there is someone on site for any questions or problems that arise - and just generally for smooth day to day running.

"Once you have identified and fulfilled an opportunity, it's time to look to the next one. "

And this is an ongoing process. Once you have identified and fulfilled an opportunity, it's time to look to the next one. That way your team and hopefully success will continue to grow - and equally not, if the time isn't right.

Remember: it's still your business

At the risk of sounding contradictory - and almost certainly patronising - it's important not to build a team for a team's sake before you're ready. If you're worrying too much about getting the right people in your team then you aren't feeling the benefit they're supposed to be bringing.

If too many people are confusing you with conflicting advice, stop listening, shut yourself away and find out what you think. Having a team isn't an excuse to stop thinking for yourself, unless you don't w...

Click here to read the rest of this article from My Business