Seller Question #1: How Can I Get a Higher Price For My Business?
This seems simple enough. If you want your business to be worth more, then just increase the revenue and profit, right? While that’s an obvious, simple answer to Seller Question #1, it’s not necessarily the most realistic solution. I’m sure you’ve seen or experienced a situation where two businesses from the same industry and relatively […]
How to Sell an Awning Manufacturing and Installation Company
Awning manufacturing and installation companies are taking advantage of recent residential and commercial growth Traditionally, the commercial real estate sector has driven the awning manufacturing and installation industry. While commercial projects are still the primary revenue sources for these companies, an increase in residential work has proven substantial. According to a 2017 report by Grand […]
You Might be Dealing with a Bad Business Broker if…
Business brokerages are no different than any other businesses – there are good firms and there are bad firms. So how do you determine a bad business broker from a good one? First, don’t confuse a broker’s personality with his/her business practices. There can be very poor business brokers with likable personalities, so it’s important […]
How are Privately Owned Businesses Valued?
What is My Business Worth? While it can be relatively simple to value a publicly traded company, there is so much confusion associated with how a non-publicly traded company is valued. In this article, I want to help clear up any confusion and help outline the well-tested and well-vetted process of how all businesses are […]
Seller Question #2: How is My Equipment Handled in a Business Sale?
When you sell your company, the equipment used in the operation is included in that sale. Any asset that helps you generate revenue is part of your overall enterprise value, and those assets (in almost every case) need to be conveyed to the buyer free-and-clear of all debt as part of an asset sale, which […]
How to Sell a Cabinet Manufacturing Company
When you are looking to sell a wood cabinet manufacturing company, it is important to be prepared to go to market. In this article, we are going to discuss the factors that are involved in selling a cabinet manufacturing company as well as areas that you are able to benchmark to help improve the value. […]
Seller Question #3: What Responsibilities Will I Have After I Sell My Business?
Most business owners give a lot of thought to what they are going to do once they no longer own their companies. But with all the anticipation of retiring, traveling, spending more time with family, starting a new venture or simply slowing down, it’s easy to forget about what you’ll be doing immediately after the sale. All […]
Seller Question #4: How Important are my Business Tax Returns?
“I make a lot more money than my tax return shows.” If we only had a dollar for every time we’ve heard that! Most business owners wage a constant battle between clean, accurate tax reporting and tax liability minimization. No one likes to pay taxes, so this struggle is understandable, and most business owners will […]
Seller Question #5: Why Should I Consider Seller Financing?
Generally speaking, there is an overriding negative connotation amongst business owners when it comes to the subject of carrying a note as part of a business sale. While many of the seller financing horror stories floating around the golf course and dinner party are true, when seller notes are structured properly with equitable terms, they […]
Seller Question #6: How do I Maintain Confidentiality When Selling My Business?
Maintaining confidentiality during the process of selling your business is critical – there is simply no sugarcoating this statement. It does a business owner absolutely no good, and in fact can be potentially damaging to the business, if employees, customers, competitors or vendors find out your business is for sale. Buyers and Confidentiality Buyers happen […]