Defining Goodwill

    25 Apr     Defining Goodwill Posted at 08:25h in Uncategorized by bbpadmin You may hear the word “goodwill” thrown around a lot, but what does it really mean?  When it comes to selling a business, the term refers to all the effort that the seller put into a business over the year.  Goodwill can be thought of as the difference between the various tangible assets that a business has and the overall purchase... Continue Reading →

A Deeper Look at Seller Financing When Selling A Business

  19 Apr A Deeper Look at Seller Financing When Selling A Business  A buyer typically has one of three ways to buy a business – Cash, SBA Finance or Seller Finance. Cash deals are rare and require a discount in the value to attract a cash offer. SBA Finance have pros and cons and can be expensive to obtain. Also, not all businesses can qualify for SBA or business acquisition loans. The bottom line is that most buyers don’t have the... Continue Reading →

Important Things To Consider When Selling

  05 Apr   Posted at 11:48h in Uncategorized by bbpadmin     The recently published Axial article entitled “How Customer Due Diligence Led to a 30% Reduction in Offer Price” explains how important the due diligence process is for a prospective buyer during a business transaction. The author goes in-depth into a case study that demonstrates how proper due diligence can save a bad deal from coming to fruition, while giving... Continue Reading →

Selling a Business? Be Aware of These Four Potential Issues

Selling a Business? Be Aware of These Four Potential Issues Posted at 12:56h in Seller Articles by bbpadmin We’ve outlined below a few unexpected aspects of the business sale process that can pop up.  Sometimes they severely impact the turnaround time of a sale.  But if you can understand these potential issues better, you will be better prepared to try to circumvent them. It’s helpful to use an intermediary who will assist with the... Continue Reading →

Your Company’s Undocumented Worth

  20 Mar     Your Company’s Undocumented Worth Posted at 08:27h in Seller Articles by bbpadmin The valuation is a major factor that influences the overall selling price of the property.  Business appraisals are based upon a multitude of criteria and indisputable records such as comparables, projections, discount rates, EBITDA multiples, and more.   While the appraiser may have all the information he or she needs, the... Continue Reading →

Service Businesses Perform Highest When It Comes to Sales

14 Mar Service Businesses Perform Highest When It Comes to SalesPosted at 09:26h in Uncategorized by bbpadminRecently, Business Brokerage Press performed a survey of brokers across the country to see what sells at the highest rate, and what they discovered was very interesting.  Retail business sold at 17%, food and drink related businesses at 14%, service oriented businesses sold at 25%, auto related businesses sold at 9%, manufacturing... Continue Reading →

Gaining a Better Understanding of Leases

  06 Mar Gaining a Better Understanding of Leases   Leases can, and do, play a significant role in the buying or selling of businesses. Leases are a common feature of many businesses and simply can’t be ignored. It is important to understand the lease upfront to avoid issues down the road.    Leases and Working with Your Attorney Whenever a small business is sold, it is common that leases play a major role.  In general,... Continue Reading →

What is Really in the Mind of Your Buyer?

It is always important to try and put yourself “in the other person’s shoes” during the entire sales process. This fact is of paramount importance when dealing with prospective buyers.  Thinking like a prospective buyer could, in fact, be the difference between selling your business and not selling your business.   It is easy to think that because everything is going smoothly with the sale of your business that the tough part... Continue Reading →

Does Your Asking Price Truly Matter?

    It is no great secret that sellers often aim high.  The logic sellers use is simple, “I can always reduce my price.”  While that is true, sellers do need to remember that if the asking price is initially too high, buyers won’t even take a serious look.  In short, your selling price must be bound by reality and what the market will bear. Pricing Does Matter When an asking price is too high buyers will simply move on... Continue Reading →

Strong Selling Points: Let Your Strengths Work for You

“Independent Business Owner” is a phrase with two meanings.  Of course, it means being the owner of an independent business.  But another way to look at “Independent Business Owner” is to let this phrase define the very personality of the person at the helm.  Independent, Confident, Self-Assured, Strong-Willed.  These are vital entrepreneurial attributes, but, ironically, they can sometimes work against the business... Continue Reading →