How are businesses priced?

Generally, at the outset, a prospective seller will ask the intermediary or business broker what he or she thinks the business will sell for. The intermediary usually explains that a review of the financial information will be necessary before a price or a range of prices can be suggested for the business. Most sellers have Read More …

What does it take to be successful?

Certainly, you need adequate capital to buy the business and to make the improvements you want, along with maintaining some reserves in case things start off slowly. You need to be willing to work hard and, in many cases, to put in long hours. Unfortunately, some of today’s buyers are not willing to do what Read More …

What should I look for when searching for a business?

Obviously, you want to consider only those businesses that you would feel comfortable owning and operating. “Pride of Ownership” is an important ingredient for success. You also want to consider only those businesses that you can afford with the cash you have available. In addition the business you buy must be able to supply you Read More …

What happens when I find a business I want to buy?

What happens when I find a business I want to buy? When you find a business, the intermediary or business broker will be able to answer many of your questions immediately or will research them for you. Once you get your preliminary questions answered, the typical next step is for an intermediary or business broker Read More …

When Buying a business do I need an Lawyer?

Do I need an Lawyer? It may be advisable to have an Lawyer to review the legal documents associated with the transaction. It is important that the attorney you hire is familiar with the business buying process and has the time available to handle the paperwork on a timely basis. If the attorney does not Read More …

Why Should I go to an intermediary/Business Broker?

Why should I go to an intermediary/business broker? A professional intermediary (or business broker) can be helpful in many ways. They can provide you with a selection of different and, in m any cases, unique businesses, including many that you would not be able to find on your own. Approximately 90 percent of buyers end Read More …

What Your Birth Certificate Says About Your Succession Plan

In our experience, your age has a big effect on your attitude towards your business and how you feel about one day getting out. Here’s what we have found:   Business owners between 25 and 46 years old Twenty- and thirty-something business owners grew up in an age where job security doesn’t exist. They watched Read More …