The Four Essential Stages of a Closing
When it comes to reaching a successful closing, there are four important stages to keep in mind. In this article, we will take a look at the process and what sellers can expect. If you are planning to sell a business, it is also helpful to understand in depth what the stages are from a buyer’s perspective. The Letter of Intent (LOI) The letter of intent is one of the responsibilities that...Read More
Exit Planning: How to Create a Checklist for Your Business Sale
Did you know that of the businesses that are up for sale, only an estimated 20-30% actually sell? Despite the fact that most business owners know that they’ll eventually want to sell their business in order to retire or explore new opportunities, few are preparing an exit plan. Exit planning isn’t just about making sure that you can sell when you want to. It’s also about...Read More
How to Sell a Small Business, Step-By-Step
America has around 33.2 million small businesses, according to Zippia statistics. Unfortunately, only about 55% of said businesses may last more than a few years. Whatever the reasoning, as a small business owner, you may reach a point where you want to sell. This can be a complicated process, but by following a few key steps, you can successfully sell your small business. In this...Read More
Take Inventory of Your Company
Most business owners don’t give a second thought to the idea of going to the doctor for an annual physical. So why do they not give the same level of care and consideration to their company? The fact of the matter is that many executives literally go decades without giving their companies a “physical.” They only stop to truly evaluate their business when required by regulations or another...Read More
8 Steps to Buying a Business and How to Get Started
There are over 33 million small businesses in the United States. If you’ve ever dreamed of being a small business owner, why not join them? You don’t have to start your own business to be a business owner. Buying a business that already exists is a valid (and sometimes easier) option. You’ll already have a clear framework to work with and a preexisting customer base. But how...Read More
6 Tips for How to Sell Your Business Online
There are roughly 31.7 billion small businesses in the United States. While being an entrepreneur is great, running a business is not easy. It takes a lot of hard work and dedication. Most people go through ups and downs in entrepreneurship before they get it right. Thankfully, there are solutions to these types of problems, like selling your business. With that said, if you want to learn how...Read More
Business Valuation: The Process and Methods (Explained)
There are more than 33 million small and medium-sized businesses scattered across the US. Many of those businesses are concentrated in urban areas, such as the metropolitan St. Louis area. The simple population density concentrates people with entrepreneurial leanings into a small area. Despite all of the hard work and long hours, often 50 hours a week or more, there does come a time when most...Read More
8 Important Things to Know (And Ask) When Buying a Restaurant
Nothing comes close to the exciting buzz of opening a new business. However, the average startup costs for a new restaurant business are between $275,000 and $425,000. Buying an existing restaurant could be the perfect option if you want to avoid the turmoil (and startup costs) of starting one from scratch. Before you jump into your new venture, there are some essential things to consider....Read More
Defending Your Asking Price
When you’re putting your business on the market, one of the top considerations is your asking price. Once you have a fair price established, let’s take a closer look at how business brokers and M&A advisors work with their clients to back up that price with details concerning why it is justified. Telling the Story A key aspect of defending your asking price is telling the story of your...Read More
Common Legal Mistakes That Sellers Make
Nothing strikes fear in the heart of a business owner like a legal mistake. The best way to ensure that you will avoid serious legal issues is to work with a trusted and experienced team. Otherwise, it’s easy to accidentally miss necessary steps. When you’re selling a business, there are a lot of moving pieces, and that means that there are ample opportunities for things to go wrong. It’s...Read MoreRecent Posts
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When business owners hear the term goodwill,... -
Selling a business isn’t just about finding...
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