When Is the Best Time to Sell Your Business?
Many experts say that the best time to sell is when the business is better than it’s ever been. This may be good advice, but few follow it. Why sell when business is good? You just suffered through a few not-so-great years and now the experts are telling you to sell? Right or wrong – good or bad – the decision to sell is generally event-driven. For example: declining health, a partnership...Read More
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Confidentiality Agreement – What Is It ?
Confidentiality Agreement – A pact that forbids buyers, sellers, and their agents in a given business deal from disclosing information about the transaction to others. It is common practice for the seller, or his or her intermediary, to require a prospective buyer to sign a confidentiality agreement, sometimes referred to as a non-disclosure agreement. This is almost always done prior...Read More
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Are You Ready To Sell?
…….What a “loaded” question you may think, but the reality is that almost no business owner and their business reach the qualifications of “Ready to Sell” without professional assistance from a qualified individual. Getting your business and yourself, as the business owner “ready to sell”, takes quite a bit of work and preparation. You need to know and work...Read More
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10 Questions A Seller Should Ask A Broker
Are you a Certified and Registered Broker/Intermediary? Are you affiliated with any business brokerage associations or trade groups? Will you provide any references? (Sellers, Attorneys, etc.) How will you determine how much I should ask for my business? Will you display my business on any Internet sites? If so, how many? How, other than the Internet, will you market my business? How can you...Read More
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FOR YOUR CONSIDERATION
BUYERS WANT CASH FLOW Recasting financial statements will help you provide a potential buyer with a better view of cash flow. Cash flow is not the same as profit. All potential buyers will want to see the income tax returns, profit and loss statement, owner compensations, etc. LOOKS CAN MAKE A DIFFERENCE Just as you will need to do all that you can do to show a well organized, profitable...Read More
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