Out of all the businesses listed for sale, only about 30% to 40% ever sell. There are many reasons why your business sale may fail to go through. It could be that your business is bleeding cash, you have overpriced it, you have irreconcilable flaws, or you lack a professional business broker.
Now, if you’re trying to figure out how to sell your business for its maximum price, we have a...Read More
Eventually every business owner will have to turn over control of their business to someone else. There are many options for how this can play out. They range from selling the business to a prospective buyer or selling to a competitor, to turning your business over to a family member. It is key that you start thinking about these options years before you end up in a situation where you...Read More
After decades of hard work, selling your business can be an exciting and rewarding time. Yet, many business owners overlook the importance of focusing on the legal matters associated with sales. In this article, we’ll explore three of the most significant mistakes sellers make.
1. Use an NDA
The first critical mistake that business owners should be guarding against is skipping the use of a...Read More
Are you thinking about selling your business? Wondering what a business broker can do to help?
If you’re thinking about selling your business, you may be tempted to go through the process alone. However, working with a business sale broker can be a great help and can make the entire process much easier overall.
If you want to learn more about how they can help you sell your business,...Read More
You understand the finer points and potential of your business better than anyone; however, that doesn’t mean that prospective buyers will instantly see your business’s various strengths. When you are looking to sell your business, you have two very important jobs. The first is to get your business ready to be sold. A second essential job is to showcase your business’s greatest strengths. At...Read More
There is the oft-told story about Ray Kroc, the founder of McDonalds. Before he approached the McDonald brothers at their California hamburger restaurant, he spent quite a few days sitting in his car watching the business. Only when he was convinced that the business and the concept worked, did he make an offer that the brothers could not refuse. The rest, as they say, is history.
The point,...Read More
There are unique attributes of a company that make it more attractive to a possible acquirer and/or more valuable. Certainly, the numbers are important, but potential buyers will also look beyond them. Factors that make your company special or unique can often not only make the difference in a possible sale or merger, but also can dramatically increase value. Review the following to see if...Read More
1. Build a solid management team. A business with sales of $5 million and up needs a full complement of officers and directors. Such a team might include: a COO, a CFO, a sales manager and, depending on the of type business, an IT director. It is also beneficial to create a Board of Directors with at least two outside members. This professionalization of management can remove the stigma of...Read More
Did you know there are just over 1 million restaurants in the US?
On some nights, nothing beats heading over to your favorite restaurant. It feels good to give up cooking duties for the night.
Unfortunately, on the other side of the coin, the owner of the restaurant is over their head. They’re pulling out their hair while you slurp pasta. Or they may simply ready to move on from the...Read More
We work closely with our clients to preserve the integrity of deals so that they have the best chance of a successful closing. An often-overlooked aspect of the process is understanding and embracing human psychology. In this article, we will explore some of the most common ways that psychology comes into play.
The Element of Time
It is critical that both buyers and sellers feel well...Read More