Bizdaq: With £1mn in Pockets, Launches Online Platform to Help Owners Buy and Sell Businesses
Bizdaq is a new online platform to help business owners buy and sell small and medium-sized businesses quickly and easily. It announced the launch of its service at www.bizdaq.co.uk, with the goal of ensuring small and medium sized businesses capitalise on Britain’s economic growth and retain more of their hard earned capital.
Bizdaq is founded by Sean Mallon, an experienced business sales broker who has helped more than 1,200 everyday entrepreneurs realise value from their hard work, using insight gleaned from seven years in charge of one of the UK’s leading business brokerage consultancies.
The new company also announced it has raised £1 million in financing, most as venture funding from respected British high street entrepreneur Tim Whitworth, co-founder and former chief executive of clothing chain Republic. The funding will be used in part to drive Bizdaq’s growth over the coming months and will allow for a nationwide marketing campaign following today’s launch.
While a typical business transfer agent may take a commission of up to £15,000 on a business sold for £100,000, Bizdaq expects most of its subscribers will only ever pay an average of £500 to find a buyer and complete the sale, saving thousands in agents’ fees.
Bizdaq features include an online valuation tool that instantly estimates the likely sale value of any business, step-by-step instructions and notifications to help business sellers and buyers through the process for themselves. Profile listings for members’ businesses are also syndicated to up to 20 for-sale directories, ensuring the widest possible buyer interest.
Today, the Leeds-based, West Yorkshire, company employs more than 30 staff and has helped over 1,200 business owners sell on, from local convenience stores all the way up to a £3.5 million finance company, which achieved a 30% higher valuation than expected.