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>>
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>>
It takes a village to raise a child, and it takes a team to close a deal. Going at it alone can be a challenge, as business deals have multiple, opposing stakeholders on both sides. Here’s a roster of some of the major players in a business deal assuming you are the seller of a successful small business:
Your Deal Making Team:
You: You are the most important element in the deal. You have created a small business that has created cash flow and job opportunities for your employees. 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>>
Since I’ve been a business broker and interviewed countless business owners, seen their options for exit and been a part of their exit planning, I’ve thought back on what I wish I had known when I started my small business in 2003. Here are three takeaways that I would have acted upon if i had the experiences and insight then that I have now…
The two ways to make money with a small business
You can make it along the way, or you can make it at the end. Businesses t Read More>>