So having sold probably 75 of these things I thought I would compile some information for you buyers out there: The following video gives you a brief overview of the industry here and the following stats are drawn from the Business Brokerage Press Guide. Rules of Thumb: 40 to 45% of annual sales plus inventory […]
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The Four Mistakes Sellers Make When Selling Their Business
TOP FOUR MISTAKES BUSINESS OWNERS MAKE WHEN TRANSITIONING A BUSINESS At some point, nearly every business owner faces a business transition. The 3 D’s are inevitable: Death, Divorce, Divestiture. As the business often represents the single largest asset on many owners’ personal balance sheets, its value can represent a lifetime of focus, energy, and work. […]
Family Business and Protecting Your Family Wealth
SYNOPSIS: “EVERY FAMILY’S BUSINESS” 12 COMMON SENSE QUESTIONS TO PROTECT YOUR WEALTH “Every Family’s Business”, Written by Thomas William Deans, Ph. D. is on the New York Times: 10 Books Business Owners Should Read Preface “Only one third of all family businesses make it to the second generation. Only 10% of that one third make […]
When You Are Ready to Sell Will Your Business Be Ready?
WHEN YOU’RE READY TO SELL YOUR BUSINESS, WILL YOUR BUSINESS BE READY TO SELL? It’s been estimated that the owner of a typical small- to medium-sized business has up to 90% of their personal net worth tied to their business. Their retirement plan is simple: Sell the business for a whole lot of money and […]
The Role of Seller Financing In a Deal
ROLE & IMPORTANCE OF SELLER FINANCING IN SELLING A BUSINESS Almost without exception, all business sellers would prefer to get 100% of their selling price in cash at closing – and for some very good reasons. Most sellers have heard horror stories about other sellers who sold their business for little or no cash down, […]