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...
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...
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...
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...
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...
You’re considering selling your business. Your accountant or financial advisor has reviewed your profit and loss statement, and told you what he or she thinks your business is worth. Is this a valid figure? Do the numbers reflect the real value of your business? Below...
An old saying in negotiating the sale of a business goes like this: The buyer says to the seller, “You name the price, and I get to name the terms.” Another saying used to explain the actual value of the term full price: “If we...
Thinking About Selling? Here are some tasks business owners should consider completing before going to market to help their businesses sell. Remove any items not included in the sale. That family heirloom portrait behind the counter of Grandfather William, founder of the business, should be removed. Remove or...
Many business owners probably have asked themselves this question. There are many unique and different types of business. Some fill very small niches while others have carved out a unique product or service while still others require a unique or very specialized talent, knowledge or...
This is often a prospective buyer’s first response when given the price of a seller’s business. This is especially true today when many excellent and profitable businesses have few hard or physical assets. For years, buyers, and even business appraisers, have called the difference between...
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