12 Ways to Not Mess Up the Sale of Your Business
By: Jeff Swiggett, CBI, M&AMI, Owner of VR Office in New Haven, CT
As a seller, you can contribute to a successful sale in many ways. Remember that your view of the business may differ from the potential buyer. Here are a few guidelines:
Be friendly and cooperative. If the buyer requests information, provide it as soon as possible. By responding quickly, you will help establish trust and thus giving the impression that your business is well managed and you have nothing to hide. Delays cause buyers to become very skeptical about the seriousness of a seller's intentions.
Communicate openly and honestly. Many transactions are completed because trust and good chemistry exist between a buyer and a seller. This is developed through honest, open communications.
Be ready to disclose sensitive information.
Be prepared to discuss financial information, customer/market information, product "secrets", etc. This allows the buyer the ability to develop a deeper understanding of the operation of your business.Click Here to Read Full Article
The American Dream....Owning Your Own Business
How many times have you heard someone say they would like to own their own business? As a long time, banker and now a strategic business advisor who works almost exclusively with business owners and business leaders, I have heard that comment more times than I could ever remember.
What is it about owning a business that elicits that comment? Is it the perception of job security? Financial independence? Controlling your destiny? Personal satisfaction? Pride of ownership? Satisfy entrepreneurial desire? Other? All of these perceptions of what one can experience from owning a business can be realized. It can truly be like living The American Dream.
But, we would be naive to think that owning a business is always all peaches and cream. There can be sleepiness nights when worrying about meeting payroll or getting an order completed and delivered on time to a good customer or handling an irate customer over a mistake that your employee made or whether to relocate the business and incur higher expenses when you are bursting at the seams.....or others too many to list here.
Keeping the Train on the Tracks.... VR Explains How to Sell Your Business
By: Peter C. King, VR Business Brokers/Mergers & Acquisitions, CEO
Normally, a business owner who's looking to sell has to keep their intentions close to the chest. You don't want to upset your employees, your customers or the vendors; any of which could cause a major disruption in your operation and be a detractor to potential buyers. Since selling your business can be both an emotional and overwhelming process, it's important to consult VR Business Sales. We will facilitate the process to where you will be able to continue operating the business as normal while we look for a qualified buyer. A qualified buyer will want to see a thriving and well-operated business if they are
put down a substantial financial investment.
Each VR business intermediary is equipped with the tools and experience to ensure that you don't make any pivotal mistakes. Below are some areas that we will help you stay on the track with to get you to completion of the deal.
Click Here to Read Full Article
The State of Mid-Market M&A: Q4 2016
After a record-breaking 2015, M&A activity is on the decline. Worldwide M&A activity for the first nine months of 2016 is down 22% from the same period in 2015, deal-making activity is down 32%, and PE-backed deals are down more than 27%, according to data released by Thomson Reuters.
We checked in with three deal professionals to see how these trends are being felt in the middle market, and get their predictions for the months to come.
VR Office in Oak Brook, IL Facilitates the Sale of NTN Chicago
VR's Oak Brook, IL Office has recently facilitated the sale of NTN Chicago which is a resident tenant screening business. The company provides business information services to a niche market. Most of the business activity is repeat customers while new customers pay a signup fee and a fee for each report requested. The business has systems in place and practically runs itself. This is a five day a week business and is perfect for the new owner to focus on marketing and future growth. Congratulations to Dan Eitel on a successful transaction!
VR Continues to Match Qualified Buyers with Businesses for Sale
In today's business climate, our clients demand quality and professionalism. We applaud our VR business intermediaries for a job well done!! Here is a small sample of transactions that have closed across the VR network recently:
Thinking of selling your business or looking for an established business to purchase?
VR Office in North Tampa, FL has been Engaged to Assist in the Sale of a Transportation Brokerage Business
Our VR Office in North Tampa, FL has been engaged to assist in the sale of a transportation brokerage business. The eight-year-old company specializes in transporting juice, frozen seafood, dairy products, and produce for Fortune 500 companies throughout the United States. Their services are insured and licensed to ensure merchandise reaches its' destination safely and in a secure manner. The sale includes a sixteen fleet of over the road trucks being at the average age of 2011 or newer and fifteen trailers with an average age of 2010 and equipped with APU.
The current owner has developed a proven business model that produced excellent growth and profitability with net revenue up 12% from the previous year. A well-trained staff is in place and will help facilitate a smooth transition to the new owner. Congratulations to Curtis Stokes on your new engagement!
Businesses For Sale
Your dream business awaits you...take advantage of these featured opportunities
VR has for sale now!
Seafood Restaurant & Market$1,150,000Wilmington, NCAudio/Video Security Company$720,000Artesia, CAYogurtland Franchise Store$890,000Artesia, CAProperty Management Company$925,000Sacramento, CAGarden Center$1,280,000Waukesha, WIOrthopedic Urgent Care Facility$545,000Boca Raton, FLRetail Flooring Company$199,000North Dallas, TXMachine Shop/Marine Fabrication$1,000,000Fort Lauderdale, FLUsed Auto Dealership$375,000Apollo Beach, FLUpscale Medical Spa$1,997,500Miami, FLBed & Breakfast$656,000Charlottetown, PEI, Canada
The time has never been better to become a part of the VR team!
Small businesses make up over 56% of the annual U.S. GDP and every year a large amount of them change hands.
VR is the industry leader in facilitating such transactions.
For more information how to join VR!
You Don't Buy from "Hard Closers", Neither Do They
By: Bob Burg
After a recent speaking engagement at a sales conference, one of the attendees, brand new to the profession of sales, confided in me, that he felt he needed to get better at doing "harder close".
Bob Burg is coauthor of the International Business Bestseller, The Go-Giver (over 500,000 copies sold in 21 languages). To read Chapter One and connect with Bob visit www.thegogiver.com. You can listen to his popular, The Go-Giver Podcast at www.thegogiver.com/podcast.