FAQs about National SchoolTransfer
Below are some of the questions that clients, both buyers and sellers, have most frequently put to us. We have attempted to answer them here but you are always welcome to speak to us directly if you have further queries.
Q. Why must buyers provide a copy of their CV?
A. In order that when a buyer wishes to visit a school or nursery we can
tell the seller something about the background and suitability of the potential
buyer.
Q. Why must buyers provide the names and addresses of two character referees?
A. To ensure that there are people who are prepared to vouch for the character
and qualification of buyers. Our sellers expect this.
Q. Why do buyers need to register before being told any details regarding
schools or nurseries?
A. Sellers are not willing for members of the public, who have not been vetted,
to be in possession of the details of their school or nursery. Confidentiality
is an essential part of the service that we offer.
Q. Is there any charge for attending one of the seminars?
A. Services to buyers are free. The only exception to this is a charge of 1%
to buyers who successfully purchase empty premises through NST.
Q. Who will I be dealing with?
A. Patrick Carter, and Andrew McEwen mainly. You may
also talk to Denise Atfield.
Q. Can sellers be guaranteed anonymity?
A. Guarantees are difficult but, in over 15 years of trading, we have not had
a serious confidentiality problem.
Q. How long will it take me to sell my school?
A. As long as it takes!! Some are snapped up quickly, others take longer. It
can be a few months or can take several years. We will not give up on you.
Q. How do I know how much my business/school is worth?
A. Normally it is the ‘Bricks and Mortar’ value, plus a sum for
the stock and goodwill. The goodwill figure will be a function of the operating
profit of the business. Patrick will show you how to calculate your operating
profit.
Q. Are sellers restricted to sole agency?
A. No. You can opt for either ‘Open Market’ or ‘Sole Agency’ arrangements.
We appreciate that the key issue to you, as a seller, is to find a buyer for
your school or nursery, so even our Sole Agency arrangement only ties you to
us for 3 months.
Q. How long will it take for a buyer’s
registration to be completed?
A. As quickly as you or your referees respond to us. We will inform you when
you are fully registered.
Q. How do you match buyers to my school or nursery?
A. We have about 350 active buyers registered with us at any time and manually
matching them would be very time consuming. We use a sophisticated computer
program, developed in-house, that matches a fully-registered buyer's wishes
with a school or nursery profile.
Q. Is it worth registering as a buyer even though NST doesn't currently have
any schools or nurseries in the area I am looking for?
A. Yes definitely - sellers come onto our books all the time from all over
the country and worldwide.
Q. Will I receive regular updates of the ‘Outline List’?
A. We do not send every update of the Outline List to all the buyers who are
fully-registered with us. We will always send one on request, however, and
all fully registered buyers are automatically notified of any new school
or nursery that comes onto our books that matches their requirements.
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