Blog
When is the Best Time to Sell Your Business?
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 Are Considering Selling in the Next Two Years …
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...
Selling a Family-owned Business, with the Family Active in the Business
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...
Once you decide to sell your business, adjust your state of mind
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...
Selling Your Company – the Fog of War and Perspective
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...
The Seller’s Market Won’t Last Forever; You Will Not Always Be as Quick as You Are Now
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...
Get a valuation on your business regularly
Having a ballpark idea of what your business is worth long before it is time to sell will help you avoid disappointments, and can ensure you get the price you need or want. The overwhelming majority of business owners don’t go through this exercise until it is time to...
When It Might Make Sense to Hold off on Selling Your Business
Many business owners pick a time or point in life to sell their businesses. When that time finally arrives, it may be smart to re-assess the facts to be sure it still makes sense. *When you have a good business that has not consumed you and allows you to have a life,...
Business Buyers Checklist for Starting with a Business Broker/Intermediary
To help me—the Licensed Real Estate/Business Broker and Intermediary—understand your—the buyer’s—needs and to learn more about what you are looking for in a target business to purchase, please provide me with the following: Do you have access to a computer, a printer...
When Buying a Business, Points to Consider
The most important point to consider is are you prepared to be patient? Are you in a state of mind for a journey that could take up to a year or longer, and ready to run after two or three opportunities before you find a good fit? Finding an opportunity with an owner...
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