There is an alternative buyer you may not have considered, which is your employees. To qualify the company needs: At least $1 million EBITDA upwardsAt least 15 employeesMiddle management in place or the ability to put into place and take over the owner’s role...
I once had a friend, we’ll call him Frank, come to me for help selling his office cleaning business. He had a good size company with about ten employees. He owned all of the equipment and had thorough and consistent cleaners on the payroll. For years, his business...
As a business owner, most of your decisions are made based on the numbers. You know how much it will cost to expand, how much you’re willing to spend on technology, and how many employees you need to get the job done. But, you also know there are a lot of decisions to...
Here is what it takes: Clean owner benefit over $2 million dollars a year. Tax Returns can be tied to Financial Statements.Repeating customers, ideally under a contract.Accounting records which can be shown month by month and exported to MS Excel.Middle management.A...
In the United States alone, more than 10,000 people retire every day. But, most of those people don’t own their own business. All they have to worry about is cashing in their retirement plans. But, you have one more big challenge before your final clock out –...
Declining sales and profits are a BIG DEAL when it comes time to sell. No matter how hard you try to explain it, the facts remain, which creates uncertainty. This is also an issue for a buyer to get bank financing. Most lenders won’t make loans to...
