This question is comparable to asking when is the best time to ask for a credit line or loan from your banker. That answer is when you don’t need it, and you are flying high. The same holds true when selling your business. Going to market with your business at a peak,...
If you think you might be ready to sell your business in the next two years, take advantage of this year’s end to clean up your Profit and Loss Statement. You can significantly increase the value of your business if you don’t have to explain non-business expenses and...
I recently sold a $6.7M manufacturing business that the father started more than 25 years ago he owned 100%, and that carries the family name as the brand. A number of the adult children grew up in the business and still worked there, but were grossly overpaid and...
A seller’s state of mind makes a big difference in the ability to get the best price for your business. Some might call it an attitude adjustment or controlling expectations. Although your business broker or intermediary does much of the legwork, it does require time...
Many times, the seller feels the job is almost done once they have found an interested, qualified buyer. In fact, that is just the first step. You have heard the term “the fog of war” before. Part of what it means is that in the heat of battle, you lose perspective...
It continues to be a seller’s market for quality businesses with good accounting records, particularly those with an owner benefit of over $250,000 a year. At some point, the approximately 77 million baby boomers, some of whom own businesses, will decide it is time to...
