Knightsbridge Business Sales KBS Corporate — business sales
Knightsbridge are one of the least professional business that I have ever encountered.
I first approached them in December 2017 about selling my business. After a long period of ill health I needed to sell my music school business and so approached a number of agencies to do this. At first I was very impressed with them and their representative who came to visit my business and talk to me about me needs.
After 4 months and only 1 enquiry I called their representative to find out what was happening. They had no answer as to why only 1 lead had been generated by their actions. I questioned them on whether any buyer specific marketing strategies that they had initially mentioned had been implemented. they said that they could find out information on this when they were in the office and said theywould call me back when they were in next.
When they did call me back it was to say that non of the initial marketing that we had discussed outside of publising it on their own site and some third party sites had been done. This included colour brochures that were to be sent out to a researched list of potential buyers who may be interested in buying my business. They did not apologise for this and just put it down to a ‘communication error'. They also mentioned that every effort was going to be made to sell the business and that it would now make a loss for KBS as it would now be taken over by the 'corporate team'. A few days later I received an email from one of the ladies I had been dealing with previously, not the expensive corporate team that I was told would be on the case. She informed me that she would be making a list of potential buyers to contact.
A couple of weeks later I contacted her to find out what was happening and she emailed me over a list of potential buyers that she had made. The list consisted of mainly private music schools and organisations that did work in schools for local authorities. Exasperated, I sent her the results of a quick google search for guitar teachers in my local area and asked her to repeat this for instruments taught at our school in every area of West Yorkshire. It was at this point I lost faith in them.
Because of my ongoing health issues I needed to sell my business quickly which was why I was so impressed with the initial promises. To then find out that the work that needed to be done had not been done was quite frankly like a slap in the face. Then to consequently have to tell their own staff how to do their own market research was just insulting. As I write this in June of 2018 I have only had one enquiry from KBS which seems to have cost me £1200. The sheer arrogance coupled with the ineptitude of the staff that I have dealt with is staggering. I was consistently told that it was ‘early days' even though no enquiries were being made for my business. Then, when the decided method of generating more enquiries was not done and found to have not been done 4 months into the process there was no haste whatsoever to rectify the problem. As it is in June I still have not been sent a comprehensive list of potential buyers and so it is with heavy heart I am having to close my business.
I do not only feel cheated out of £1200 at a time when I needed the money more than ever but I feel that I have had my time wasted by KBS. As an organisation they are obviously in business for a reason but I feel that a lot of this is generated through sales using their database and paid presence on third party sites such as Daltons. However for them to know right from the start that my business would require some additional work to sell, to take it on anyway with a fee in advance, to then not do the work and pretend that they had done it, to finally when it had been discovered that they had not even done the work to then not doing it anyway reeks of laziness and dishonesty. The whole organisation should feel ashamed of themselves, including the Sales Director who when I contacted on LinkedIn, was equally as apathetic to my concerns. A thorough waste of time and money. Avoid