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January 27, 2021

How to Buy a Business in UK with Richard Tunnah

Richard Tunnah started his online journey in ’95 when he acquired a desktop computer (the size of a dining room table!) for about £4k and set up an online classified site. (pre craigslist and gumtree) which they sold in the late ’90s. They then set up a website design company (where they had a hand coder!). They exited this business after 2 years and had an IT support company. They sold this and he started an e-commerce business. This was the early 2000’s.

He approached a number of designer labels to sell their end of line stock and came to an agreement with Ralph Lauren and DKNY to sell their t-shirts on eBay. Spending about £1k a week and doubling that until people saw what he was doing and getting cheap copies from china when eBay wasn’t strict on fakes. 

He then started a business growth company focused on customer retention and customer reactivation campaigns. He has an Amazon best selling book on the subject. 

He has also hosted a business podcast interviewing various business leaders. He has also been featured on CNN and US Today writing about business growth and branding.

He started to acquire companies about 3 years ago that he believes he can grow to the next level.

 

In this episode, Richard will be sharing his thoughts about how to buy a business in the UK.

 

You’ll Learn:

  • Who is business acquisition for
  • The misconception of acquisition
  • The possibility of acquiring a business with less money
  • The importance of Entrepreneur Tax Relief
  • The advantage of Structured Deal
  • Why the relationship to the seller is important

 

 

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