Why Do People Go Into Business?

By Patriot M&A | June 26, 2012

41% joined the family business 36% wanted more control over their future 27% tired of working for someone else 5% were downsized or laid off *Source: Dun & Bradstreet 19th Annual Small Business Survey May 2000. Totals add up to more than 100% because respondents could choose more than one reason for going into business…

Protected: A Buyer’s Quandary

By Patriot M&A | June 21, 2012

There is no excerpt because this is a protected post.

Why is seller financing so important to the sale of my business?

By Patriot M&A | January 10, 2012

Surveys have shown that a seller who asks for all cash, receives on average only 70 percent of his or her asking price, while sellers who accept terms receive on average 86 percent of their asking price. That’s a difference of 16 percent! In many cases, businesses that are listed for all cash just don’t sell. With…

What happens when there is a buyer for my business?

By Patriot M&A | January 10, 2012

When a buyer is sufficiently interested in your business, he or she will, or should, submit an offer in writing. This offer or proposal may have one or more contingencies. Usually, the contingencies concern a detailed review of your financial records and may also include a review of your lease arrangements, franchise agreement (if there…

What can I do to help sell my business?

By Patriot M&A | January 10, 2012

A buyer will want up-to-date financial information. If you use accountants, you can work with them on making current information available. If you are using an attorney, make sure they are familiar with the business closing process and the laws of your particular state. You might also ask if their schedule will allow them to…

What can business brokers do – and, what can’t they do?

By Patriot M&A | January 10, 2012

Business brokers are the professionals who will facilitate the successful sale of your business. It is important that you understand just what a professional business broker can do — as well as what they can’t. They can help you decide how to price your business and how to structure the sale so it makes sense…

How long does it take to sell my business?

By Patriot M&A | January 10, 2012

It generally takes, on average, between five to eight months to sell most businesses. Keep in mind that an average is just that. Some businesses will take longer to sell, while others will sell in a shorter period of time. The sooner you have all the information needed to begin the marketing process, the shorter…

Do I need an attorney?

By Patriot M&A | January 10, 2012

It may be advisable to have an attorney review the legal documents. It is important, however, that the attorney you hire is familiar with the business buying process and has the time available to handle the paperwork on a timely basis. If the attorney does not have experience in handling business sales, you may be…

Why should I go to a business broker?

By Patriot M&A | January 10, 2012

A professional business broker can be helpful in many ways. They can provide you with a selection of different and, in many cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of those who buy businesses end up with something completely different from the business…

What happens when I find a business I want to buy?

By Patriot M&A | January 10, 2012

When you find a business, the business broker will be able to answer many of your questions immediately or will research them for you. Once you get your preliminary questions answered, the typical next step is for the broker to prepare an offer based on the price and terms you feel are appropriate. This offer…