If you're buying or selling a business, at some point you're going to have to take the big step of drafting or reviewing an offerto purchaseThis may seem like an intimidating process if you've never been through it before. So now what?
The best advice is to ensure you're being guided by a professionalfull timebusiness broker, and an attorneywho is experienced insuccessfullycompleting business transactions. Yourbusinessbroker will assist you in understanding the deal overall, which is required ... Read More>>
Most business buyers are first time buyers, and there’s a lot to learn about running a business. The fundamental rule of business is to make more than you spend, and the largest fixed cost of many businesses is often the rent. Most first time buyers have never had a commercial lease either, so there’s more to learn here…
Today we’ll explore some important aspects of a commercial lease, and how it could affect both the buyer and the seller of the business.
Fixe ... Read More>>
Currently, gas stations and their corresponding convenience stores are some of the most profitable businesses in the United States. Across the country, there are over 100,000 gas station/convenience stores which bring a cumulative of over $400 billion revenue each year.
Since the country literally runs on gas where people have to commute to different places and goods also have to be ferried to different states, the gas station business is one whose future is quite certain. Below are some reason ... Read More>>
Experienced entrepreneurs who have bought a business before will have an advantage over a business owner who is experiencing selling their business for the first time. That being said, most buyers have a very difficult task because of the due diligence portion of the transaction is typically an area that the ... Read More>>
Business owners come to me to sell their businesses. I’m a VR Business Broker serving the North Carolina Triangle Market so owners observe the exits I help other owners achieve and ask me about how to achieve their own.
Some of these owners I can help; they have a transferable business producing significant cash flow. Others I can’t. They may have had a great business, but now they are trending downwards. Unfortunately for many of these owners, they may have more of a problem than ... Read More>>
Buying a bar is a dream that has crossed the mind of many would-be entrepreneurs. Finding the right bar for you and for the market can be tricky, though and, once you have found the ideal bar, you will want to move fast to put down the money and make sure you don’t lose it.
You will need to be prepared in advance, though, if you are going to be able to do this. In order to get you as prepared as possible, we give you a breakdown of all the costs involved so that you won’t get caught ... Read More>>
When you’re on the cusp of buying a restaurant, it can be an exciting time. And you’d hardly qualify as a would-be restaurateur if your head wasn’t full of food trends, recipes, presentation, cool interiors and more. But there’s a range of less-motivating tasks you’ll also need to nail down if you want to realize your dream purchase anytime soon.
It’s a list of items whose importance to your future business prospects can easily be underestimated when your hea ... Read More>>
Are you a motel owner who’s planning to sell your business soon and capitalize on your previous efforts? Planning is of the essence; by clearly anticipating all obstacles, you’ll be able to work through them effectively.
If you’ve been running a motel for a while, you’re probably no stranger to this logic of anticipating problems and finding solutions in advance. In fact, that is probably the reason why you’re reading this article right now. Luckily, you’ ... Read More>>
As a business broker I answer a lot of questions about how to sell a business. One of my FAQs that I share with all business owners planning to sell is call the “Do We Use My Guy Or Yours?” While the “guy” could be a “gal,” the question is all about attorney selection. The point of that FAQ is that sellers must have legal representation when selling a business, whether it’s someone they already know or someone I’m going to recommend.
Here are s ... Read More>>
VR Shows How to Negotiate a Business Sale
If you've never purchased a business before, negotiating is one
of the most challenging aspects of the transaction. What can
happen in many cases is that the buyer will spend more for the
business than originally intended and the seller receives less
... Read More>>
How Unlimited Choices Have Given Way to New
Since the beginning of the 20th century, advertising drove our
economy in the form of a pre-packaged, one-way story.
Today, it's a different story. We've gone from three channels
to 500 and from no web pages to a billion web pages. The
choices tha ... Read More>>
When you are looking to buy a business, it is important to find
the right business first before worrying about the right price.
Never base your search simply on finding a good deal because
you will find yourself ultimately in a place that you don't want to
The price must be considered secondary to your ... Read More>>