When Is the Best Time to Sell Your Business?
Many experts say that the best time to sell is when the business is better than it’s ever been. This may be good advice, but few follow it. Why sell when business is good? You just suffered through a few not-so-great years and now the experts are telling you to sell? Right or wrong –…
Confidentiality Agreement – What Is It ?
Confidentiality Agreement – A pact that forbids buyers, sellers, and their agents in a given business deal from disclosing information about the transaction to others. It is common practice for the seller, or his or her intermediary, to require a prospective buyer to sign a confidentiality agreement, sometimes referred to as a non-disclosure agreement. This…
Are You Ready To Sell?
…….What a “loaded” question you may think, but the reality is that almost no business owner and their business reach the qualifications of “Ready to Sell” without professional assistance from a qualified individual. Getting your business and yourself, as the business owner “ready to sell”, takes quite a bit of work and preparation. You need…
10 Questions A Seller Should Ask A Broker
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…
FOR YOUR CONSIDERATION
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…
TEN STEPS FOR A SUCCESSFUL SALE
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…
Is It Time to Raise Prices?
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…
Visiting Your Lease Again
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…
What are Business Buyers Really Looking For?
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 • …
Why Sellers Won’t Sell
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…