A common question business brokers get asked is “how long will it take to sell my business?” Research completed by the IBBA indicates that for businesses that sell for under two million dollars, it’s likely going to take 7-9 months.
Many owners aren’t excited about this answer, but there are a few things you can do to expedite the sale of your small business. Let’s explore a few of these options…
Read MoreWhen selling your business, the question of whether or not you can get paid for your assets is one that comes up a lot. The answer is rarely what the business owner wants to hear. There are sound reasons for this. Understanding how businesses are priced can help an owner with decisions on how to allocate resources for assets; especially if they are planning to sell in the near future…
Read MoreBusiness owners are responsible with money. They have to be. Owners pay the bills, make the payroll, invest in the future, and build valuable enterprises. And, while good business owners don’t spend money foolishly, they understand that investing in expertise is important: accountants, attorneys, and other trusted advisors…
Read MoreIt can cost next to nothing to sell your business, or it can cost all the way up to 15% of the sale. How much it costs to sell a company is dependent on how you sell your company.
Read MoreIt's best to eliminate the running of excessive personal expenses through the company, or the skimming of cash, several years before selling your business. In reviewing a marketing package for the sale of a business, one of the first things a buyer is going to see is the normalization of cash flow (SDE) that shows those messy personal expense add-backs. First impressions are lasting impressions and messy normalizations definitely create a negative impression from the beginning…
Read MoreTo achieve really perfect timing, the best time to sell is when you are mentally prepared, and your company has had three great years in a row. In addition, perfect timing would include ideal external conditions where interest rates are low, financing is readily available, capital gains taxes are low, and the national economy is humming. However, these external factors are unpredictable and uncontrollable. Conditions for selling are great right now…
Read MoreAfter your business is on the market, your broker will handle inquiries from all types of individual buyers. Statistics indicate that approximately 90% of people who inquire about a business never buy one. The lineup of "tire kickers" is endless and can include people without sufficient funds to acquire your business; people incapable of running your business; competitors, customers, or suppliers who are trying to figure out what is for sale; and bargain-hunters with unrealistic price expectations…
Read MoreAre you thinking about selling your business? Odds are you don’t know the potential buyers. In this post we’ll tell you about the different types of buyers you might encounter on your way to successfully selling your business…
Read MoreBuy low. Sell high.
This adage is timeless – and true – but sometimes, like when a business owner is trying to sell a business, trying to ‘sell too high’ can become a problem. When it comes to listing and selling a business, there are many ways to establish value, so a business owner can determine ‘the right price’…
Read MoreCapital gains taxes are assessed on assets that are sold at a profit. While this is often associated with stocks, it can also apply to the sale of real estate, a business and other types of assets. Capital gains taxes are applied only to realized gains from the sale of the assets. We’ve talked about this before but here is another update. Read the entire article here, but we will provide you with some key takeaways from the article in this post…
Read MoreBy nature, business owners are entrepreneurial and frequently take the do-it-yourself method in everything they do – even selling their business. While this is a great way to ensure your business’ success, using it to sell your business, is perhaps not the best idea…
Read MoreWhen selling a business, especially when property is involved, working with a fully accredited business broker is critical. And while business brokers do have real estate licenses, don’t be confused. There are many important differences between business brokers and real estate brokers…
Read MoreIn this post, we cover some of the most important work a broker will be executing on your behalf when you sell your business: completing due diligence work and helping you through a successful closing…
Read MoreMarketing your business-for-sale is critical activity – Important to the successful sale of your life’s work. Although there are dozens of steps that need to be taken to successfully list and sell a small business, getting lots of genuine interest by potential purchasers is really important…
Read MoreThere are dozens of steps that need to be taken to successfully list and sell a small business. In the same way that you rely on a realtor to prepare to list and sell your home; you need the services of an experienced business broker to prepare to list and sell your business for the best possible return…
Read MoreSelling a business is usually one of the most complicated transactions that anyone can ever experience in their lifetime. There are – literally – dozens of steps that need to be successfully taken to not only list a business for sale, but to market (promote) the business, take offers, negotiation the sale, and then close the deal. These are all important steps best left to an experienced, licensed business broker…
Read MoreThere has probably never been a better time to sell a business – for many reasons; The biggest may be an upcoming increase in the capital gains tax…
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