You put a great deal of yourself into your business. Inevitably, the day will come when you have no choice but to walk away and begin a new chapter of your life. In these eventualities, businesses are often transferred from one family member to another. This article will address 5 of the key factors you’ll want to consider when transferring your business to a family member.Details
There are two key ingredients when it comes to selling a business: professionalism and confidentiality. If either of these two ingredients are lacking, then you’ll probably run into problems. Sadly, many sellers see their deals fall apart due to a breach of confidentiality. You don’t want to be one of them.Details
No one works forever. Regardless of how much you love your business, sooner or later you will have to step away. Owning a business can be demanding. This can be doubly true for owner-operators of businesses. At some point, you’ll have to embrace retirement and that will require a transition out of your business.Details
Like many things in life, timing can be everything when it comes to selling your company. Every day more and more baby-boomers are now reaching retirement age. Soon, the market will likely be flooded with companies seeking to sell. According to a 2016 survey of business brokers, 54% plan to exit in the next ten years. We may…Details
Are you looking for a way to perfect your presentation? Understanding what a serious buyer wants will help you prepare your business for sale.
By considering five relevant areas in which a potential buyer will have questions, this post will help you understand how to tailor your presentation to make your business even more attractive to a serious buyer. Taking these points into account will also help you save time as you present your business to potential buyers, answering their questions before they are asked.Details
Without employees, you don’t have a business. Because they are tremendously important, there is great value associated with keeping your employees happy. When it comes to you as a business owner, your success is greatly influenced by your employees’ satisfaction.Details
Many experts agree that the best time to prepare to sell your business is when you start your business. However, few business owners reach that level of preparedness. Usually, the preparation that goes into selling a business is event-driven. Factors such as problems with a partnership, health issues, burnout, or even divorce can drive a business owner to sell.
Once you decide to sell your business, unexpected events and factors will always arise. In this article, we’ll explore four key questions you should address, to help you prepare for the unexpected, before selling your business.Details
When it comes to acquiring or selling a business, negotiation is vitally important. But it can also be complicated. Unfortunately, many prospective business buyers and sellers overlook the significance and complexity of negotiation.
There are four basic ways to negotiate. It is wise and worthwhile to consider your strategies before the time to buy or sell arrives.Details
Owners often fail to understand their leases, and this can be problematic. If your business is location-sensitive, then the status of your lease could be of paramount importance. Restaurants and retail businesses, for example, are usually location-dependent and their owners need to pay special attention to their leases. But every business owner should understand in detail the terms of their lease.
There are many key factors involving leases that should not be overlooked. If you adhere to the following guidelines, you’ll be much more likely to control your outcomes.Details
When selling a business, several things can go wrong. A number of these issues come with advance warnings: “red flags.” If sellers keep their eyes open for these warnings, it is possible to avoid bigger problems further along in the sale process.
Rarely does a “white knight” ride in and rescue a business with no questions asked. And if this were to happen, you should be asking, “Why?” Until a deal is officially inked, sellers need to evaluate every aspect of a transaction to make sure something isn’t happening that could ruin the deal.Details
Buyers, seller, advisors, and intermediaries often mention use of a “term sheet” prior to the creation of an actual purchase or sale agreement, but rarely will you hear the term explained. What is a term sheet and why is it important? This post will address these questions.Details
When it comes to selling a family-owned business there are no shortage of complicating factors, but one pops up quite often. This article contains a true story about a popular family business that was built from the ground up only to later meet a very sad ending. While this is just one story, there are countless similar situations across the country.Details
Not everyone wants to sell when they feel as though they must sell. Life changes, such as divorce or illness, can trigger the sale of a business. Everything from declining business revenue to partnership problems and more can send business owners scrambling for the exit sign. However, selling isn’t always an option, especially for small businesses. In this article, we will take a closer look at one such scenario.Details
If you are an independent business owner, you will most likely also become an independent business seller somewhere down the road. Fewer businesses are being passed on to future generations today, so selling has become a fact of independent business life. No matter at what stage your own business life may be, making specific preparations now can help you stay ahead in the selling game.Details
Family businesses are different, for many reasons. Sometimes there are advantages to working with relatives; other times, drawbacks. One specific disadvantage of the family business is that familiarity can lead owners to be more relaxed and important issues relating to the future can be overlooked.Details