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Burnout: An Ever-Present Threat

Burnout is an often-used reason for an owner selling his or her business. Potential buyers may have trouble accepting this as a valid reason for sale. However, burnout is a valid reason for selling one’s business. A business owner can experience burnout even with a business that’s successful and growing. Many independent business owners [...]

Time to Create an Exit Strategy?

There is the old adage that says: “The time to develop an exit strategy is the day you open for business.”   Sounds good, but not very realistic or very optimistic. On the day you open for business, your thoughts are focused on making the business successful, not how to get out of it.   However, [...]

What’s Unique About a Particular Business?

Most business owners think that their business is unique, but what are the factors and attributes that really make a business stand out from others.  There are key factors that make a business both unique and, at the same time, make it more valuable in the marketplace and more desirable to prospective purchasers. Here [...]

You want how much for your business ???

This question is often a potential buyer’s first response when given the price of a business – often accompanied with an expression of astonishment. Especially when a very profitable business has few tangible assets.  The difference between the actual physical assets and the asking price is often called “blue sky.”  Goodwill has often been [...]

Does a business “fit” you?

When you are thinking about buying some business and are looking at a specific business, the real challenge is to determine if it’s the right “fit” for you.  It is helpful to ask the following questions: Does the business look exciting and interesting to me? Do I feel that I can improve the business? Would the business offer [...]

Questions in pricing a business for sale

Here are some questions to ask yourself when pricing a business and determining exactly what is for sale: What's for sale and what's not for sale?  Does it include real estate?  Is some equipment leased rather than owned?  Is intellectual property licensed or owned? Where is the competitive advantage? Does the business have a [...]

Only one out of fifteen – are you the One?

Only about one out of fifteen potential business buyers will ultimately make a purchase?  If you are considering purchasing a business, it may be helpful for you to understand the challenges buyers need to overcome in order to buy a business. There are a number of challenges to overcome when buying a business, especially for [...]

Seller Financing – advantages for both sides of a deal

The October 2012 issue of Entrepreneur Magazine contains an article in its “Start It Up” section by Michelle Goodman entitled “Trust funds” that talks about the advantages of seller financing of small business sales for both buyer and seller. I was struck by one insight about the role of the business broker in the transaction. Often [...]

Keys to a Successful Business Sale

Many elements must come together for both buyer and seller for a successful transaction.  Here are five things that nearly always are essential in the sale of a business for buyer and seller to close a sale and be happy with the process and the outcome. The buyer and seller should be in agreement from the [...]

You’re Thinking About Selling Your Business – What’s Next?

Your decision to sell your business can sometimes be hampered by questions about how to proceed.  The most basic question to be answered is whether to sell now, sell later, or liquidate. The “sell now” question is answered by looking at your business as a buyer would: Can a buyer earn a living from [...]