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>>
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>>
Buying a restaurant is an exciting investment. Finding the right one can be a process taken over by passion. This can cause you to jump into a purchase too quickly.
In this article, we discuss some of the mistakes that you could make and how to avoid them! Because, running a successful restaurant will mean buying the right one and avoiding any unwanted surprises!
1. Forgetting to check the lease terms
Most restaurants that you buy will be leasing the premises from which they operate. You Read More>>
Running your own business is a common dream shared by many. Many dreamers dismiss the idea immediately however, telling themselves it’s sure to be an uphill struggle.
In reality, while taking responsibility for a new enterprise may be tough at times, there are some myths which distort the true picture.
So, to help weigh up the options, let’s separate the fact from the fiction about business ownership.
Were you born for it?
If becoming an entrepreneur was always a walk in the par Read More>>
I help sellers go to market all the time, typically after we walk through a “Broker’s Opinion of Value,” but sometimes sellers have their own price in mind.
Going With The Gut
When sellers come to me and they have a price set I like to ask them how they got to their price. Normally it’s a combination of what they invested in their business, what they need to move on, and what they “feel” is right.
When it was time to sell my business a dec Read More>>
When a seller puts their business on the market, they are usually prepared for a lot of time-wasters. Most sellers try to reserve their energy for buyer enquiries that they think are serious.
This means that, if you are one of those buyers, you need to stand out from the crowd.
Your enquiry needs to give the selle Read More>>
When you are trying to sell a business, your main goal will be trying to attract the people that are serious about buying so that you don’t your time with people that are not.
To do this, you need to be serious about selling and there are a few things to do to make sure that you are.
Preparing Read More>>
Building a business and maintaining it takes dedication. Understandably, the relationship between owner and company can become so close that the two are fused in some respects, which can be problematic when it comes to selling it.
To clinch a successful deal and allow a business to thrive under new ownership, it’s import Read More>>
When you’ve made the decision to sell your business ideally both the premises and your books need to be on point. If the business does not appear to be looked after, the buyer can suspect some concealment or deception.
Along with this you’ll need to be careful about your responses to any questions you are asked. Th Read More>>
Have you started to contemplate the
eventual sale of your business? Never sold a business before?
Here are five essential tips to help you
prepare the business for sale, find a buyer and achieve a deal on price and
terms that you’re happy with.1. Value the businessGet an accurate valuation of
your business from a t Read More>>
Buying a business and running
it as a family-owned enterprise remains an entrepreneurial dream for a great
many people. So much so that America relies on family businesses to generate 60
percent of its current employment.
It’s easy to see the appeal:
the thought of choosing your own direction while working alongs Read More>>
When Is The Best Time To Enter Business Ownership?More and better businesses opportunities are available now
than we have seen in history...if you know how and where to
find them. This may be your best opportunity to take
advantage of gaining the years of hard work and investment of
someone else. The current economy is the most favorable we
have seen in years to make your move!
At some point the owner of every business and professional
practice will exit his/her business through a sale or Read More>>
The only thing worse than no professional
support is the wrong professional support. Ask these questions to secure the
Selling a business on your
own to save money is often a false economy, but hiring the wrong business broker is arguably even worse.
If you are to avoid
appointing a broker who is unscrupu Read More>>
decided you want to be your own boss, next you have to choose not just your
sector but whether you start a business from scratch, buy an established
independent business or buy a franchise.
option has its own merits and drawbacks and which one suits you depends on your
personal attributes and what you want Read More>>
From a lack
of preparation to proceeding without the help of a business broker, these are
some of the most common mistakes made by sellers.
Selling a business for a satisfactory return and within your preferred
timescale can be a challenging prospect. Attracting buyers requires
a focused approach, careful groundwork a Read More>>
All business brokers need a back-office
function to deliver whatever the business needs at any particular time. This means
that some business people invest in more capacity than they actually need, so
that their firm is not overrun at peak times.
However, working efficiently means
cutting away excess resource so that th Read More>>
Selling your business is never going to be an easy process. It’ll
take longer than you expect, and could be more complicated than you anticipate.
However, if done correctly, it can set you up financially for the
next step in your life – whether that’s retirement, another business venture or
something els Read More>>
Duane Merchant, CFP®
How to ARM Your Key Employees for Success
business owners would love to have employees who are as passionate about the
company as they are. It makes sense: The future of a closely-held or family
business depends on how securely its select employees are tied to it. But
creating Read More>>
While some prefer to go it alone, small
business owners are increasingly using the services of a coach to help them
streamline their day to day operations.
Efficiency is an essential attribute to
business success but often we forget about the effectiveness
of the entrepreneur themselves.
Being a business owner who has g Read More>>
Biz Finance Solutions
Have you felt the impact
of increased regulation on the small business sector? It seems that no matter which business vertical you are
involved in, some government entity wants to make sure you are carrying out
your business activities in a manner compliant with laws and regulations.
Some of these Read More>>
Biz Finance Solutions
Since the passage of ERISA
in 1974 (the Employee Retirement Income Security Act), thousands of new
businesses have been financed by retirement funds without penalties or a
taxable distribution. Using their
existing retirement funds held by a former-employer qualified retirement plan
or IRA to fin Read More>>
Move over Baby Boomers. The next market business
brokers should be paying attention to is Millennials, whom are defined as being
between ages 18 to 34 in 2015.
There are many
misconceptions about this generation, but in reality, Millennials are the
future business owners of America.
The Power of the Millennial Genera Read More>>
Behar Law Group
The fifth employment based visa preference category ("EB-5"), created by Congress in 1990, is available to immigrants seeking to enter the United States in order to invest in a new commercial enterprise that will benefit the US economy and create at least 10 full-time jobs. The EB-5 Program is governed b Read More>>
It’s been the mantra of real estate
agents forever, and it still rings true when discussing the relative values of
any sort of residential or commercial property. But, this focus on location is
an even more important factor when that real estate purchase involves starting
or taking over a business.
are three Read More>>
Want to be your own boss but not sure which
way to go about it? Here, you can weigh up the pros and cons to see whether
buying a franchise or a business would suit you best:
One of the positives of buying a franchise
is the increased number of loan options available to you.
Brand names and a transpare Read More>>
VR Sacramento, CA
I recently met with a business owner who, because of health problems, wants and needs to sell his business. He has a key employee that supervises much of the work that is performed by the company. He offered to sell the business to the employee, and they agreed on a price, with the seller carrying a Read More>>
It’s not easy to make the leap from small business to big business. In
fact, the odds are against small business owners. Research shows that only
one-tenth of one percent of companies will ever reach $250m in annual revenue.
If that’s not big enough for
are five strategies to build your business.
According to the Global
Entrepreneurship Monitor 2014 Report, entrepreneurship rates in the U.S rose to
approximately 14 percent last year - a far cry from the recession low of 7.6 percent
The Bureau of Labour Statistics states that Americans change their
approximately job every 5 years, many taking the leap and Read More>>
VR - Marketing
I have spoken a lot about the importance of creating good, relevant content for your website and/or blog. Great posts can lead to others linking to it, which helps increase your chances of being found. But there are many other ways to generate incoming links to your business' website. Here are 4 tips to ga Read More>>
VR Charleston, SC
Starting or buying a business is a big step for most people and trying to find the right business for your particular skill set can be difficult. Becoming a VR Business Brokerage owner should be evaluated just like any other business you might consider. To be successful at VR you will need to have a c Read More>>
VR - Communications
The art of selling your business is simple yet complex, that's why it is best to consult an experienced business broker. With so many emerging technologies, it can be hard to know what to adapt to and how it can benefit your business in the long run.
Most of these worries can be eased once given th Read More>>
If you’re considering selling
your business, congratulations!
This could be a great move for you. Or, it might not.
It’s definitely a big step,
though, and one that requires thought and preparation in order to optimize the
outcome for everyone involved.
Unfortunately, many business owners go into the sale o Read More>>
VR McKinney, TX
U.S. FRANCHISING FACTS
· It is estimated that franchising creates 18 million jobs
& generates $2.1 trillion to the economy
· Approximately 1 out of 12 businesses in the US are
· The franchising industry accounts for approximately 40% of
· Read More>>
Charles Winn Cox, P.A.
VR Boca Raton, FL
Good question and not easily answered. A license is merely authorization to do a particular thing in
accordance with the issuing authority's policy, regulation or law. In this case we think of issuing
authority as being a State. To find
out if the State requires a license, you can now do so Read More>>
VR Aspen, CO
If you are a real estate agent thinking of becoming a business broker, or to adding business brokerage to your current real estate practice, there are some similarities as well as some critical differences between the two practices to keep in mind. Success in real estate brokerage takes local knowledge of t Read More>>
Financial forecasters say that the US’ 70,000,000 Baby Boomers are all set to make waves
in the American economy. With a great number of this demographic owning
businesses and planning to retire, some predict a 'tsunami' of Baby Boomer
enterprises will hit the business sales market – though fewer are disposed t Read More>>
In today's business environment, small companies can be swamped with data of different kinds. Even the most local business is now likely to have some sort of online presence, and this adds a whole new level of useful information to collect and analyze.
What is more, the old streams of financial data and customer feedback are s Read More>>