Are you a Certified and Registered Broker/Intermediary?
Are you affiliated with any business brokerage associations or trade groups?
Will you provide any references? (Sellers, Attorneys, etc.)
How will you determine how much I should ask for my business?
Will you display my business on any Internet sites? If so, how many?
How, other than the Internet, will you market my business?
How can you...Read More
BUYERS WANT CASH FLOW
Recasting financial statements will help you provide a potential buyer with a better view of cash flow. Cash flow is not the same as profit. All potential buyers will want to see the income tax returns, profit and loss statement, owner compensations, etc.
LOOKS CAN MAKE A DIFFERENCE
Just as you will need to do all that you can do to show a well organized, profitable...Read More
Your reason(s) for selling your business and your future goals need to be clear and well thought out before you try to market your business. A prospective buyer will want to know why you are selling and may be curious about what you intend to do after the sale.
A poor economic climate and/or a peronal emotional dilemma can cause you to accept a deal that is not in best interest for you or...Read More
Increasing the price of your products or services is, in most cases, the most difficult decision a business owner has to make. Looking at the negatives is easy.
• Our business is too competitive to increase prices.
• Our customers/clients are used to our pricing.
• Customers are too price-conscious.
• We won’t be able to get new customers/clients.
• We are known for low prices....Read More
When is the last time you reviewed the lease on your business premises? When you signed it years ago? There are some important reasons that should prompt a business owner to revisit the terms of his lease. If you can’t assign your lease to a new owner, you may not be able to sell your business. A similar concern is that if you can’t assign the lease, it may cost you a lot of money. This...Read More
The obvious answer is probably that most people are looking to buy a business that makes a lot of money. But the real answers may surprise you. Here is a list of just a few that buyers have mentioned:
• Pride of ownership
• A business that looks like fun to own and operate
• Happy employees
• Financial records that make sense
• Good growth prospects
• A well-known or popular...Read More
A recent survey asked leading business brokers and intermediaries: What is the seller’s biggest obstacle to selling the business? In other words, why do business owners who are considering selling fail to follow through?
Seller’s Biggest Obstacle to Selling
The answers to this question were revealing, fascinating and important for prospective sellers to understand and consider prior to...Read More
You’re considering selling your business. Your accountant or financial advisor has reviewed your profit and loss statement, and told you what he or she thinks your business is worth. Is this a valid figure? Do the numbers reflect the real value of your business? Below are some other factors to consider regarding the true value of your business. These factors may not have a specific dollar...Read More
An old saying in negotiating the sale of a business goes like this: The buyer says to the seller, “You name the price, and I get to name the terms.”
Another saying used to explain the actual value of the term full price: “If we could find you a business that nets you $250,000 a year after debt service, and you could buy it for $100 down, would you really care what the full price was?”
It...Read More
Thinking About Selling?
Here are some tasks business owners should consider completing before going to market to help their businesses sell.
Remove any items not included in the sale. That family heirloom portrait behind the counter of Grandfather William, founder of the business, should be removed.
Remove or repair any non-functioning equipment.
Prepare an operations manual to show a new...Read More