For Tampa Bay business owners, negotiating a commercial lease requires a clear exit strategy from the start. Planning for potential future changes, such as selling your business or exiting the lease, will help you avoid unnecessary penalties and roadblocks down the road. Here’s what to consider when crafting a lease agreement. 1. Limit Personal […]
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Understanding the Three Key Methods of Business Valuation for Tampa Businesses
Business valuation is essential for Tampa business owners looking to sell, secure investors, or even gauge their company’s worth in today’s market. Understanding the right valuation method helps in presenting an accurate and compelling business value. Here, we’ll cover three widely-used approaches for valuing a business: the Asset-Based, Market-Based, and Income-Based methods.
Selling Your Company? Why You Should Hire a Business Broker
Selling your business can be a daunting task, laden with uncertainties and stress. Questions about timing, valuation, crafting a compelling sales listing, and navigating the sale process can overwhelm any business owner. However, there’s a crucial ally to simplify this journey: a business broker. Business brokers are seasoned professionals dedicated to the art of […]
Navigating the Sale: Avoiding Common Pitfalls by Michael Shea, Tampa Business Broker
**Navigating the Sale: Avoiding Common Pitfalls by Michael Shea, Tampa Business Broker** In my experience as a business broker, I’ve witnessed a recurring narrative where business owners embark on the journey to sell their businesses independently, motivated by the idea of saving on broker commissions. However, this often leads to a perilous situation akin […]
Why You Should Buy An Existing Restaurant As Opposed To Starting From Scratch
The owner leases a space, and gets a partner who is an expert because “he was in the industry”. They select a site, hire contractors, lease the space…and spend…the buildout was 350,000…floors, walls, hood system, plumbing, etc. All the while spending dollars on rent, insurance, and time in a location that is not producing any sales or profits.