Stephen Taylor
Managing Director, Guy Simmonds
The latest significant industry change will, of course, be the smoking ban, which takes effect this summer. My own opinion on this is that while some outlets may, initially, be detrimentally affected, flexible and innovative operators may actually see turnover and profits increase due to the wider marketing appeal to a new lucrative sector of clientele. It will certainly be a much more pleasant environment for owners, staff and customers.
We at Guy Simmonds are finding the market especially buoyant in 2007 - providing that businesses are correctly valued to the latest criteria and the vendor is able to supply accounts/VAT returns in order to substantiate the turnover and profitability. Lenders are becoming increasingly insistent upon up-to-date trading information being supplied and if this is not available there is the danger of a transaction falling through, or the business being down-valued by the lenders' own valuers.
There is certainly a proliferation of licensed properties, especially tied leases, which have been overvalued by some agents purely to obtain an up-front fee. Our policy over the past 30 successful years has been to maintain a huge national marketing profile and increase awareness of the Guy Simmonds brand to both vendors, purchasers and, in particular, newcomers to the trade. However, we realise this alone does not guarantee success. We, therefore, strive hard to provide professional, personal, honest and realistic advice to our clients. We are proud of our reputation and have hundreds of testimonials from delighted clients who come back to us when they acquire/dispose of their business or require further training.
We offer a free and discreet valuation and do not publish photographs of our sales directors in the trade press, so that we can maintain a low profile when we visit your premises. We also operate on a no sale, no commission basis. We are especially fortunate at Guy Simmonds since we have a unique source of funded applicants, personally known to our company, who have graduated from our own award-winning training course, which has been running since 1990. Our courses are highly acclaimed and attract newcomers and existing licensees from all over the country. We have recently built our own freehold state-of-the-art training centre, with support offices and training cellar, which has just won an award for the best new building in the locality.
In summary, while we are in an ever-changing market, I think that the future has never been more exciting, providing you ensure that you choose an agent who is innovative and flexible enough to meet the challenges that lie ahead.