You absolutely need somebody sitting there with you to do that because gods forbid I was doing that on my own.
Terence Marshall and Adrian Taylor had owned a very successful and high-profile hair salon at 71 High Street Harbourne Birmingham B17 9NS. They also owned the freehold. Terence wanted to sell outright, and Adrian was happy to sell and to stay on in the business as a stylist. They had taken the business as far as they felt they could and were now looking for an exit. They also wanted a good tenant that could continue the success of the salon.
Terence, a member of the NHF found ETS Corporate from their website. He was happy that we had the appropriate experience within the industry to handle the sale. He liked the added credibility that ETS Corporate was recommended by the NHF (National Hairdressers Federation) and also prepared a webinar for their members that were considering selling their Salon. He also liked the fee structure and the fact that ETS Corporate do not charge upfront fees like a lot of other agents and charged only on a successful sale.
Terence first spoke to Zach Dogar in April of 2018 to seek initial advice. The position was complicated by the fact the Suyo Hairdressers had 3 different trading entities but eventually, the salon went to market in August 2018.
Because the business was one of the premier salons in Birmingham, it got huge attention. The sale had to be carefully managed to ensure only relevant Buyers were put forward. Three groups in the industry showed serious interest including an international organisation looking to increase presence in the UK.
Eventually, terms were agreed with Suhail Shaikh of Brighter Beauty Group Ltd. Negotiations were complicated as it was a share sale and terms of the lease also had to be agreed. Three full days of negotiations involving Zach co-ordinating the finer details with all advisors concluded in the transaction completing on 3rd February 2020.
Terence said of Zach Dogar and ETS Corporate:
"You absolutely need somebody sitting there with you to do that because gods forbid I was doing that on my own." We were regularly in touch, communication was never a problem. You were always available always positive. If you decide to proceed with Zach you will be in very safe hands. I always think you will be more guaranteed a successful outcome."
Read the full case study here
See Terence Marshalls full interview here
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