June 4, 2021
There has never been a better time to start your own business. Why? Because it’s something you want, and therefore, a dream that’s worth pursuing. There are always excuses not to do something – always. There are always reasons you shouldn’t move forward with a path. Reasons t…
September 9, 2020
Are you considering buying a business? Depending who you ask, you'll get a wide range of answers on whether it's the best or worst time to purchase a business. That is, during a worldwide crisis that has no definitive timeline.
During the height of COVID-19 (then again, we don't exactly know when t…
May 21, 2020
Discover the Top 50 Franchise Opportunities!
Even though we are in challenging times, there are still opportunities in both the small business and franchise spaces. Franchise companies are closing deals and taking on new owners despite the challenges we are facing. In any environment there is still…
April 2, 2020
There is not a definite set of statements to determine whether a franchised or a non-franchised business is the right choice for you. I have found, however, that individuals who leave corporate jobs after many years of working there fit very comfortably into franchises. They tend to be most co…
March 19, 2020
How can a business broker help you and how do you find a good one? There are certain qualities you look for and then you choose one with whom you relate and feel comfortable. It is easier for you to choose a broker to work with and let the broker help you find a business that suits your …
March 12, 2020
When you purchase a business, the current employees are definitely a factor to take into consideration. Also, employees usually want to continue working for the new owner when a business sells; so it is usually a smart idea to keep them and make no immediate changes. They are actually hired by the n…
February 20, 2020
In your decision to purchase a business, you have thought of acquisition criteria important to you. Some of these are low risk, high return, short hours, great location, good growth potential, and most importantly, a large asset base. Everyone thinking about buying a business has specific criteria, …
January 30, 2020
When you have a successful business, it is sometimes difficult to make the decision to sell. You have devoted your time, money, and energy to building, running, and operating your business. People become attached to businesses and love them like they are their children or family. T…
January 16, 2020
A business owner will often feel stress. There is good stress that gives you energy and helps you complete necessary work for the company. Bad stress is what we usually think of when we mention stress, and it must be controlled before you can act effectively in your business. Unless you …
January 16, 2020
Running a small business is an exciting proposition for many, but the inherent riskiness of that kind of investment can sometimes scare off potential business owners and operators. One concern for many contemplating a position leading a small business is not knowing if they have all the skills and a…
December 19, 2019
If you are a prospective buyer, you want to find a business you like and in which you feel comfortable. You have a vision of being your own boss and calling your own shots. The first question is important and sometimes overlooked.
GENERAL INFORMATIONHow do you know you are buying the ri…
December 5, 2019
Coping with stress is a skill business owners must develop, as stress generally increases along with the responsibilities of owning a business. How you deal with the stress is the key. It is important to remember that there is good stress, which is positive and can enhance performance, and neg…
November 21, 2019
Accepting risk is central to everything worthwhile in life, and there is simply no way to improve your lot and avoid risk. Becoming a business owner is taking a risk, which can develop real power, gain prestige, and acquire great wealth.
It is surprising how limited people&rsquo…
November 7, 2019
People go into business for various reasons, including but not limited to, financial independence, job security, control of destiny, investments, tax advantage, lack of suitable job opportunities, and freedom. As a prospective buyer, you have a vision of being your own boss and calling your ow…
October 24, 2019
When you decide to become a business owner, you probably have an idea of the type of business you want to purchase. Some buyers start looking, knowing the type they do not want. There are many things you look for to make it right for you. You want it to be something of…
October 10, 2019
If you are searching for a business to purchase, you will be able to see generic information about the types and sizes of businesses in which you might be interested. When you find one that seems to fit your expectations, you will sign a Confidentiality Agreement, allowing a business broker to…
September 26, 2019
Business owners make decisions about the business every day. You write a business plan to follow, so things will go smoothly for you and your business, with mostly normal days. That is what we all hope for, but it is important to be prepared for any unexpected problem.
Change happens, s…
September 12, 2019
After all the decisions have been agreed upon, it is finally time to prepare for the closing. Although an attorney will prepare the closing documents, it is important to be prepared and understand what to expect. An advantage of buying an ongoing business is that the business continues t…
August 22, 2019
A buyer purchases a business based on the financial history of the business, so good financials of a business that is performing well and has growth potential are important to see if there will be a good return on the investment. Many purchasers of businesses know very little about finances an…
August 8, 2019
Whether you are a business owner or someone considering the purchase of a business, it is important to look at the strengths and weaknesses of the business. This will help you find ways to make it grow and be more successful as you make plans for the future.
Good communication is essen…
July 25, 2019
I'm pretty sure everyone is familiar with the phrase, you reap what you sow, which we have heard since we were small children. This is true when owning a business.
Whether you are a business owner or planning to be one, you understand the work ethic involved. Hard work and dedication a…
July 11, 2019
As a business broker, I have been asked by business owners many times if they really have anything to sell since they have few assets. Of course, they are hoping they do since they called me. The answer is a definite yes. When you sell a business, you are actually selling the cash flow, which is use…
June 6, 2019
Women, like men, enjoy the idea of being in control and the ability to take risks that enable them to earn more profits. As it has been more difficult for women to move up the corporate ladder, owning a business is a natural option. A large percentage of businesses are owned by women. Through a comb…
May 23, 2019
As a business owner, you will often feel stress. There is good stress that gives you energy and helps you complete necessary work for the company. Bad stress is what we usually think of when we mention stress, and it must be controlled before you can act effectively in your business. Unless you can …
May 2, 2019
There are certain terms that you should know if you are buying a business. It is, however, important to know that you don’t have to know everything. You just need to know who to contact for help and advice.It is good to select an accountant and an attorney to help you when needed. The business…
April 18, 2019
As a business owner, you will at some point likely make the decision to sell your business. Whether you have owned the business for many years or only a few years, you will probably wonder if it is a good time to sell your business. People sell businesses for various reasons, some of which are retir…
April 4, 2019
Work can be a very positive force in our lives, and most people prefer working to not working. Work provides meaning for our lives and gives us goals, challenges, friendship and support. Since people want different things and because their needs change over time, the key to encouraging hard work is …
March 21, 2019
There are many reasons to buy a business, including financial independence, job security, control of destiny, investments, tax advantages, freedom, and lack of suitable job opportunities. As a prospective buyer, you probably have a vision of being your own boss and calling your own shots. It is impo…
March 7, 2019
Employees are necessary for most businesses, and a good relationship with them is important for a successful business. Their attitudes and behaviors have a direct impact on the business, and good employees make business owners look good. Good communication, including listening skills, is important w…
February 21, 2019
When buying a business, everything should be kept confidential until the buyer and seller have closed the sale. Many things could go wrong if information got out about the possible sale.
Most businesses sold are profitable and doing well, so assumptions should not be made that the business is faili…
February 7, 2019
There comes a time in every business for a change of ownership. There are many possible reasons. Perhaps it is because of retirement, bad health, stress, burnout, disputes, trading up, relocation, or financial hardship. Business owners become attached to their businesses and love them like children …
January 24, 2019
Having a plan to follow helps eliminate the need to make hasty decisions, and not writing a good business plan to follow is a regret business owners often have and wish they had taken the time and effort to do before taking over the ownership of a business.
It is easy to get caught up in the excite…
January 10, 2019
Good management is the key to a successful business, and there are tools to help business owners become good managers.
A well-written business plan, goals, pro forma financials, and a good policies and procedures manual help you be a successful business manager. They eliminate many mistakes and all…
December 27, 2018
Confirming all the information you receive from the seller is accurate and that the financial records match the tax returns of the business you are purchasing is Due Diligence. A certain level of trust must be present for a seller and buyer to have a smooth sale and transition, but you must not just…
November 29, 2018
A good question to ask a seller when meeting together to look at the business is to explain the strengths and weaknesses of the business. This is important as you make plans for the business and find ways to make it grow and be more successful.
A strength that every business should have is integrit…
November 15, 2018
When you buy a business, you are actually buying the cash flow. Any needed assets come with the cash flow. Whether you need lots of assets or few assets, the cash flow is used to determine the value of the business. It also funds the debt service, all operating expenses, and your living wage. If the…
November 1, 2018
That is not a simple question to answer, as it depends on the individual. Owning a business is a dream many share and a life changing experience for many families. You want something you enjoy and is profitable with a fair asking price. There are differences and similarities in independent businesse…
October 25, 2018
If you have never owned a business, you may not know what business brokers do and how they can help you. A business broker is somewhat similar to a realtor. Some states require business brokers to have real estate licenses, and most get licensed anyway so they can sell property and write leases. A l…
October 18, 2018
Every successful brand needs support. It needs support in terms of business – new and repeat customers who bring in business that ultimately pay the bills. But a brand also needs emotional support – those employees (and yourself, the owner) talk to after a rough day or when things have g…
September 27, 2018
When you find the business you want to purchase, the closing goes smoothly, and the owner agrees to train you, you are ready to become a successful business person. Here are five things that will help you, as you want to avoid mistakes whenever possible. It helps that you have purchased …
September 20, 2018
You know you want to be successful if you buy a business, so you are wondering if you have what it takes to be successful. What do you need to be a successful business owner? Perhaps you can look at some business owners you know and see what you think makes them successful.
The f…
August 23, 2018
When you think you have found a business you would enjoy owning, you have taken the first step for business ownership. There are, however, important things to review and evaluate; and it is important to take the time necessary to get all of the information and the answers to all of your questi…
August 16, 2018
If you are thinking of purchasing a small business and operating it, perhaps you are wondering if you have what it takes to run a business successfully. Are certain characteristics common in successful business owners? Perhaps this will help you decide if you have what it takes to run a …
July 19, 2018
A very important job of a business owner is selecting the best employees to hire for positions in your company. A good rule is to try to hire employees who are smarter than you, as employees represent you and should make you and your business look really good.
Most employers advertise for a …
June 21, 2018
Most people do not instantly buy a business, but gradually reach the conclusion they want to do something different. It is usually a slow process because it is a major decision. Many factors play a role in if and when to make that purchase and start the dream of business ownership.…
May 24, 2018
With every stage of life, we face transition, which is the bridge between one role or job and the next. We go from high school to college, from college to work, from our first job to a higher position or a business owner. Coping with these changes effectively can make the difference betw…
May 17, 2018
A business owner builds teams of employees who work together to achieve the goals of his or her business. Employees usually want to continue working for the new owner when a business sells. They are actually hired by the new owner even though they appear to just continue working; a…
April 26, 2018
It has been said that a person who has low goals or expectations is never disappointed. You may think you know what you want to accomplish and don’t need to take the time to write your goals, but you will find everything runs more smoothly and your business is more successful when you ha…
April 19, 2018
Power is a stronger motivator than money for most people. Power is the desire to have impact, to have influence, to effect change, to make things happen and to choose to change. Power is also the ability to achieve objectives and get results. Does that sound like a business owner t…
April 12, 2018
Getting organized is a means to get where you want to be. Focus on where you want to be and what results you want to achieve for your business. Getting organized is not an end in itself but is a means to get where you want to be. At one time, businesses had stable, simple, straight…
March 29, 2018
The way we deal with others is strongly affected by the way we feel about ourselves. Because of that, it is very important for business owners to have good self esteem. If your attitude is positive and dynamic, people you work with will reflect your attitude by becoming more positive and…
March 15, 2018
As a business owner, you are bound to have busy days. There's no doubt about this. If you're just starting out, you know this more than ever. There is so much to get done, and yet, not always enough time to do it in.
This is a given. Entrepreneurs have a lot on their plate, and often times, t…
February 22, 2018
Stress in a business is inevitable. As a business owner, how you deal with it is the key. There is good stress and bad stress and both are advantageous. Coping with stress is a skill business owners must develop, as stress generally increases along with the responsibilities of owni…
February 14, 2018
Effective leaders know they get the best efforts out of people by working with them, by helping them do their best, and by showing them how to be more productive. Managers perform managerial functions, coordinating human, material, and financial resources to accomplish objectives. As a b…
January 25, 2018
All business owners know customers are the most important part of the business, as there would be no business without customers to purchase the goods or services offered by the business. That makes employees extremely important, as customers see them, and not just the owners, as the business.
…
January 18, 2018
Business owners know they can write plans and then sit back and watch them develop, with no worries, until time to make plans again. Right? NOT! Change happens, sometimes causing a crisis situation. We have all heard the saying that change is inevitable; it is how we deal wit…
December 21, 2017
This is a little light-hearted approach as to whether you would be a good entrepreneur. An entrepreneur is someone who starts a business, but you can use this for someone thinking of purchasing a small business and operating it.
Were your parents entrepreneurs? An entrepreneur in the fa…
December 13, 2017
As a business owner, you sometimes get so busy that you forget many of the important things in life. Hopefully, this will cause everyone to pause and remember we all have the same amount of time and an adjustment might be a good thing.
1. A business owner doesn’t really need to be reminded of…
November 30, 2017
You have decided it is time for you to pursue your dream of business ownership. Should you start a business from scratch or buy an existing business? This article is intended to help you make that important decision. There is no right or wrong answer, so you need to weigh everythin…
November 16, 2017
A goal of a business is to have customers who need or want the products or services offered by that business. Happy employees play a big role in making that happen, as customers see employees as the business. Keeping employees happy can go a long way in making a business successful. You may say that…
November 9, 2017
We are all wired differently. While some of us like to rise far before the sun (and with a great attitude), others prefer to sleep in and stay up into all hours in the night. There's something about personal preference and schedule of choice that can create very different working hours f…
October 26, 2017
A frequently asked question in a job interview is to give your greatest strength and your greatest weakness. Many business owners, however, don’t take the time to think about the strengths and weaknesses of their businesses. This is important as you make plans for your business an…
October 19, 2017
When you make the decision to purchase a business, you start to look for the obvious………something you enjoy, profitable with a fair asking price. Owning a business is a dream many share and is a life changing experience for many families.
As you are searching f…
September 21, 2017
When buying a business, there are many things you look for to make it a fit for you. You want it to be something of which you are interested and that you will enjoy, as well as profitable. While most people have no problem knowing what they want, they sometimes get excited and overlook r…
September 13, 2017
Many businesses are started by individuals who see a niche that is not filled and decide to take the opportunity to provide the product or service and turn it into a profitable business. Lots of research and planning go into the decision for this risk-taking experience. What we are discu…
August 17, 2017
When you are buying a business, it is very important to plan and set goals so you know where you are going and know when you get there. They will show you what direction you need to be going and measure your progress along the way. Although we may not be able to control some factors, we can co…
August 10, 2017
You never stop learning. If there's anything to take into your new business venture, it's that you always have more that you can take in. From everyday tricks to the art of a sales pitch, and beyond, there are a number of business lessons you can learn on any given day. Often without even realize yo…
July 27, 2017
Ask any employers who was their best hire and their worst hire, and they will have a story. Employers know the type of employee they want to hire but sometimes make a mistake. It is normal to want to hire those who are like ourselves, but it is unlikely that anyone will be as dedicated t…
July 20, 2017
After being in business for a year or more, it is not uncommon for business owners to wish they had started something or done something differently on their first day of business. Buying a business that is doing well helps to eliminate regrets, but writing a good business plan and following it…
June 22, 2017
When buying any business, it is important to look at what has been done in the past and also ways to increase sales and improve the business. This is especially important when the business is a service business. This article is to help you with ideas that may increase your sales.
Undisputedly…
June 15, 2017
As a would be entrepreneur you are looking for the perfect business opportunity. After several discussions with your accountant, banker, lawyer and relatives, you have developed a list of acquisition criteria: low risk, high return, short hours, great location, good growth potential, and…
May 25, 2017
If you’re the potential buyer of a business, learning how to value a business for sale is extremely important. The fair selling price for a business is the amount the seller is willing to take and the buyer is willing to pay. When buying a piece of real estate, comparisons are made of si…
May 11, 2017
We are all created with our individual DNA and each has our own characteristics and personalities. As we grow and are influenced by others, we develop into adults who see the world and opportunities. Although our beliefs are sometimes changed throughout this process, we continue to have …
April 27, 2017
When you are looking for that perfect business for you to purchase and find several that seem interesting to you, what do you look for to determine which would be the best business? Here are five key metrics that may help you compare and decide which business to buy.
1. Product or Process &nda…
April 20, 2017
Step 1 – Decide why you want to sell.
Have you had a bad day? Are sales and profits declining? Are sales and profits increasing? Are you tired and think you need a change? Are you having health issues? Do you want to retire? Do you think more lately about s…
April 13, 2017
Before you open your business – or perhaps before you do anything new – it's normal to have doubts. That's part of human nature, allowing our fears to take root and form scenarios (no matter how ridiculous) within our heads. In fact, it's almost concerning if you don't have negative idea…
March 30, 2017
When you buy a business, you look for one that is respected in the community and has good moral values and ethics. You also want one that has a good history and is making a good profit if it is a for profit business. Do you want people to look at your business and think it is an ethical …
March 23, 2017
Because all business owners will experience stress through a combination of things that happen at home and at work, coping with stress is a skill that must be developed. It is important to remember that there is good stress, which is positive, and negative stress, which usually comes from reac…
March 9, 2017
Retirement for small business owners can be quite different than retirement from the corporate world. In either situation, however, it can be a gradual process or an abrupt event and is not necessarily a total severance from work and career activities. It should be thought of as a proces…
March 2, 2017
If you are buying a business where employees are members of an organized union, you will want to learn all you can about the union and the advantages and disadvantages. The seller should have all of the information, allowing you to walk into the business understanding the union and why the emp…
February 23, 2017
This is a question that's very much opinion orientated. If you ask 50 different business owners, you're likely to get just as many answers. None of which are wrong, either; they're all relevant to one's industry and background. Because this is a personal matter – and one that's based off of pe…
February 16, 2017
In the world of franchising, there are essentially two main routes you can take toward opening up shop. First, you can choose your brand, obtain rights to a location, and open up a completely new branch. From scratch, you're starting a business from the ground-up.
Or secondly, you can purchase a bu…
January 26, 2017
As a small business owner, it is sometimes difficult to keep up with the rapid changes in technology. If you are getting close to retirement age, you probably remember when no one had computers. A good electric typewriter was the office luxury, and copies of letters were made with carbon…
January 12, 2017
When selling a business, a major challenge a business owner will face is what to do with the proceeds of the sale. After building a successful business for years, a great offer is accepted and a closing date is set. This is not the time to learn from your accountant and attorney that los…
December 28, 2016
Whether you have few employees or many employees, a good relationship with those employees is important for a successful business. That relationship is also important for you and the purchaser when you sell your business.
Your personality, as a business owner, affects your employees and how you de…
December 14, 2016
The good old days are long gone when you could easily get a bank loan to buy a business. Lending practices are constantly changing, and sometimes banks cannot accommodate unique business situations. Creative financing is the norm for today’s business buyers.
Fortunately, there are…
December 1, 2016
A large percentage of businesses are owned by women. Through a combination of societal and political change, women have entered the workforce in record numbers since the 1970's. Legislation aimed at curbing discrimination on the basis of race and sex has enabled women to move ahead in ma…
November 28, 2016
I Think I Want to Buy a Business. Where do I start?
If you are reading this, you are starting in the right place! Knowledge is power, and you are getting more educated about the marketplace, the process, and the risks and rewards of owning your own business. This website is a place wher…
November 17, 2016
When buying or selling a business, negotiation should lead to a win-win situation for the purchaser and the seller. A win-win situation allows both parties to leave victorious, getting something they want. This is the optimum situation, as both the purchaser and seller want the business …
November 3, 2016
1. The person “guarantees” you that he or she can sell your business for “whatever you want.” They tell you what you “want” to hear instead of what you “need” to hear.
2. They tell you that they can sell your business “in a matter of days&…
October 20, 2016
Along with owning a business comes power. That is a major reason for wanting to purchase a business and be able to make the decisions. You are a risk taker, which allows you to work hard and become successful. What makes a powerful person successful?
The people we deal with expect a ce…
October 13, 2016
If you are a seller, it’s lonely at the top. Normally, you have your spouse, your partner and possibly your CPA and attorney to assist you in making major decisions. But in reality, it falls upon your shoulders to determine whether you should or should not sell. Many times, a…
October 6, 2016
Many purchasers of businesses know very little about finances and records necessary for a business. If you do, you probably feel more comfortable; but a little knowledge is all you really have to know. It is important to select a business accountant and a business attorney to assist you …
September 29, 2016
During the many years I have sold businesses, I have worked with many individuals in corporate positions in the purchase of a business. Common among most of them was that they were tired of working so hard for the corporation and wanted to do that work for themselves and earn the profits.
Many peopl…
September 22, 2016
When buying a franchise, you can enter into a franchise agreement with a franchisor and start a business as a franchisee or you can purchase an on-going business that is a franchise. You would still enter into a franchise agreement with a franchisor but would have a business with a financial h…
September 15, 2016
Reasons to Sell:
1. With millions of unemployed workers living off of their savings and retirement plans, there is a high demand for good businesses. And due to the unprecedented demand, multiples of Owner’s Discretionary Cash Flow can sometimes exceed 3 where in the past the multiples…
September 8, 2016
If you ask me what my favorite companies are to sell, I would have to say distribution and light manufacturing. The reasons are quite simple. A distribution company is typically not complicated. You order merchandise from the manufacturer. You receive the merchandise. You rep…
August 31, 2016
For those of you buyers who are looking for a business to own, I would suggest that you consider an online or Internet or eCommerce business. These all essentially mean the same thing, but there are some differences that I would like to illustrate.
All these businesses use the Internet to generate…
August 25, 2016
Although an attorney will prepare the closing documents for closing, it is important to be prepared and understand what to expect. This article is a guide for you when considering what expenses will be divided, which are called standard prorations. When buying an ongoing business, a big …
August 18, 2016
One of the reasons business owners give for deciding to sell their businesses is burnout. The purpose of this article is to help you avoid getting to that point. However, once you get burned out, it is best to sell and move on, as you have probably lost interest in your business.
…
August 11, 2016
Listening skills are essential to leadership that’s responsive, attentive and empathetic. Everyone deserves to be heard and understood. There is a huge difference in hearing someone speak and really listening to that person. There are many reasons people don’t listen, but it …
August 4, 2016
Are you a risk taker? That is a question commonly asked of people wanting to be business owners. Without risk, no one finds true love, develops real power, gains prestige, or acquires great wealth. Accepting risk is central to everything worthwhile in life, and there is simply no w…
July 28, 2016
You have gone through the process of selecting a business and have met with the owner. After reviewing the information you have obtained from the owner through your business broker, you are ready to make an offer. This article will prepare you for some of the items you will want to inclu…
July 21, 2016
The first business I sold as a business broker was a small car wash. It operated out of a commercial location garage, large enough for one vehicle. The only assets were a hose, a bucket, and other needed washing supplies like you would use if you were washing your own vehicle. What…
July 14, 2016
Number 1. Make sure you really “want” to sell. Ask yourself if you are bored, burned out, ill, have a new child, have aging parents that need your assistance, etc. Or are you simply unhappy with how much money you are making? If this is the case, you do not “need&…
June 29, 2016
There are several ways for me to answer this question.
1) I can simply say that the price should be somewhere between 2 to 3 times Seller’s Discretionary Earnings (also known as Owner’s Discretionary Cash Flow) plus inventory at cost for a Main Street Business or somewh…
June 22, 2016
1. When sales and profits have been increasing. Nothing speaks louder than success. When buyers see an upward pattern, they are inclined to believe all is well with the world and will pay a premium price for the business.
2. When your employee base is stable with as many long-ter…
June 16, 2016
The largest percentage of businesses sold lease a building or space in which to operate. Because that can sometimes take longer than expected, it is important to start the process of obtaining a lease immediately after a Letter of Intent or Offer to Purchase is agreed upon by the buyer and sel…
June 9, 2016
Confidentiality places restrictions on certain types of information. A common question asked of business brokers is, “Why are business listings confidential?” Most people are familiar with realtors listing houses and attempting to get information about the listings to as many…
June 2, 2016
THE JOY OF NETWORKING
Customers or clients are important in any business, as they purchase your goods or services. In business, you have a goal to provide quality goods or services that will meet the needs and wants of these customers or clients. There are many ways to market a business and get your…
May 26, 2016
When you decide to sell your business, you have thoughts about the buyer you would like to find. After years of blood, sweat and tears put into a business, it is normal to want someone to purchase it who appreciates what has been done and who can maintain the same quality of goods and service …
May 19, 2016
A good marketing package provided to you by the Business Broker will cover the history of the business, products or services offered, the number of employees and their longevity with the company, the hours and days the business is open, the competition, the client base, and areas of possible future …
May 12, 2016
If this is your first experience considering the purchase of a business, Due Diligence may be a new term to you. Basically, it is confirming all the information you receive from the seller is accurate and that it matches the tax returns of the business you are purchasing. Also, in additi…
May 5, 2016
When you purchase a business, you will immediately begin to deal with the employees. The type and size of business will determine the number of employees needed. A profitable business will usually have long-term employees who will want to continue to work for you when you purchase the bu…
April 28, 2016
When you have a successful business, it is sometimes difficult to make the decision to sell. You have devoted your time, money, and energy to building, running, and operating your business. People become attached to businesses and love them like they are their children or family. T…
April 21, 2016
1. Do you have the courage to take the entrepreneurial leap? Forget about the cozy comfort of the corporate environment where you can have someone else take out the trash, clean the bathroom, get you coffee, pick up your dry cleaning, etc. The buck stops with you, and you need to take 100% responsi…
April 14, 2016
Once you have found the business of your dreams, you need to figure out a way to purchase it. One way is if you have the proverbial “rich Uncle” who can write a check for the entire purchase amount. The probability of this happening is less than 1%. Or you can go to your parents, sibling…
April 7, 2016
There is a great deal of confusion concerning the calculation and significance of Owner’s Discretionary Cash Flow (ODCF). First, it is not taxable income as shown on the tax return. Second, it is not net income as shown on the income statement. Rather, Owner’s Disc…
March 31, 2016
If you see two businesses side by side, with one successful and the other not, chances are great that management is the difference.
A well-written business plan, with goals and pro forma financials to follow, and a good policies and procedures manual help you be a successful business manager. …
March 24, 2016
In order to know where your business is going, you must have a business plan. Without one, it would be like attempting to drive to a location with no knowledge of how to get there. Besides being a guide, it must get the attention immediately of Venture Capitalists, Angel Investors or Ban…
March 17, 2016
In our post “I Think I Want to Buy a Business. Where Do I start?” we noted that you may want to start with lining up professional assistance to help you avoid the pitfalls of doing it yourself. That’s what experts are for, after all: to fill in the gaps in our per…
March 10, 2016
When buying a business, what are some basic questions you should ask? One of your key objectives is to become educated about the business and the process, so that you can make an informed decision. This will minimize the risk, risk which is inherent in purchasing a business, starting a business, or …
March 3, 2016
So you want to buy a business! That is the American dream. However, there are several things you need to think about before you take that big step. I will discuss some of the practical considerations in running a small business in a later blog but for now let's discuss your decision and some o…
February 25, 2016
If you are reading this, you are starting in the right place! Knowledge is power, and you are getting more educated about the marketplace, the process, and the risks and rewards of owning your own business. BusinessBroker.net is a place where you can see businesses for sale in a marketplace-li…
February 18, 2016
The three components of a successful business are location, product/service, and management. As a prospective buyer, you have a vision of being your own boss and calling your own shots. People go into business for various reasons, including but not limited to, financial independence, job…
February 11, 2016
When considering the purchase of a business, one of the most common concerns is how to get a picture of the true value of the business. Of course, this is a huge consideration in a for-profit business, as the amount of the purchase price must give a good return for the buyer’s investment…
November 14, 2013
The type of business for which you've been waiting has just come up for sale. You'd like to make an offer, but are you certain that the asking price resembles its actual value? Just as some parents overestimate the talents of their offspring, the emotional attachment of an owner to his organization …
September 23, 2013
The decision to branch out on your own and buy your own business is a big one and needs careful thought and planning. To help you, we’ve outlined some top tips to remember when buying a business.
How much time are you willing to devote to running the business?
It is import…
September 16, 2013
Are you thinking about making your dreams of owning a restaurant a reality? Purchasing an existing restaurant can be a lot easier than starting one from scratch, but you need to take a measured and careful approach to the situation to increase your odds of success. It's true that many restaurants fa…
August 22, 2013
If you've been struggling with career ideas and are looking for a fresh start, you might want to consider business ownership. Instead of embarking on a new business venture from scratch, purchasing an existing business could provide a number of benefits. With a bit of hard work and some …
August 22, 2012
This purpose of this article is to point out 3 key steps in researching a franchise before making the decision to buy. As I've said before in older posts, the old adage "measure twice and cut once" certainly applies when you are considering buying a franchise or business. It pays to be very thorough…
August 17, 2012
Seeking Professional Guidance when Buying a Business is a Smart Move
Written By: Mark Trail, Principal Intermediary for Crown Business Solutions
Buying a Business is a Big Decision – Be Careful!
I routinely read articles offering advice to potential business buyers on things t…
July 3, 2012
BusinessBroker.net (BBN) is pleased to offer a free new service to those serious about buying a franchise. BBN's Franchise Guidance Service provides assistance in selecting a franchise to buy that aligns with a person's experience, skills, desires, and financial/investment level.
There are a …
June 27, 2012
While making money should be at the very top of your list of goals when starting a business or franchise, it should not be the only thing you consider. You certainly want to thoroughly research all of your options before selecting a particular business or franchise to purchase.…
May 25, 2012
I am reading a great book by Ed Pendarvis entitled - Secrets of Buying The Right Business (for you) Right. Ed is one of the world's most experienced and well known "Main Street" brokers - he is founder of Sunbelt Business Brokers and his career spans more than 30 years helping buyers and selle…
May 10, 2012
When you are looking to own your own business, there are many choices. One of these choices is whether to buy a franchise or an independent business. There is no right or wrong answer here. It depends on numerous factors -- you will have to evaluate all of these fact…
February 1, 2012
Buying a franchise or a business for sale is one of the biggest decisions you will make in your lifetime. To help you ensure the decision, buying, and ownership phases go smoothly, here are 5 tips for your consideration. This is certainly not an exhaustive list, but one t…