Avoid These Pitfalls When Selling Your Business.By JoAnn Lombardi, VR Business Brokers/Mergers & Acquisitions, President
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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 and realistic expectations. Here are some common pitfalls you should avoid to boost your chances of a successful outcome.
Lack of Preparation
Owners frequently underestimate the time required to prepare for a business sale. Most business brokers advise allowing something like two years to thoroughly prepare for a market listing.
Choosing the Right Business For You As a Buyer.
By Peter C. King, VR Business Brokers/Mergers & Acquisitions, CEO
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 be.
The price must be considered secondary to your personal preferences relating to how you want to spend your time and energy. Remember that you will be spending between 40 and 80 hours a week at the business you choose to buy. Click Here to Read Full Article
The Pet Industry Remains an Active Space for Middle Market Investments and Growth.
Activity within the pet industry has become increasingly interesting to investors as well as entrepreneurs because of the sheer size and growth of the market and the passion that people have for their pets, said Jodi Burrows, a vice president at SDR Ventures. The American Pet Products Association (APPA) estimated that total consumer spending on pets will be $62.7bn in 2017 and is projected to reach $69.4bn in 2018. Private equity firms are eyeing the investment opportunity. However, certain disclosed transactions that have garnered outsized valuations and middle market multiples overall are driving higher valuation expectations among some industry players, regardless of scale, growth or profitability.
Why Failed Startups Are a Part of Business Success.
All aspiring entrepreneurs want to know the secret to success. The truth is, there is no scientific formula to ensure that a startup succeeds. However, there are lessons I've learned along my own entrepreneurial journey-starting and running my own business and investing in many entrepreneurs as an angel investor. I believe every business owner should embrace these maxims as they start their own entrepreneurial journey:
You Can't do It Alone
First and foremost, successful entrepreneurs all know one truth: You can't do it alone. A founder is the one who came up with the business idea, but without a team of trusted individuals, that idea will never flourish. An entrepreneur needs a network of people both inside and outside the company they're building in order to thrive. Highly successful entrepreneurs have mentors, learn from other leaders, and seek guidance from those who have gone before them. The successful entrepreneur will keep that network of business experts close and learn from them every day.
Your dream business awaits you..take advantage of these featured opportunities VR has for sale now!
Temporary Housing for Insurance Company Claims | $850,000 | Boca Raton, FL
VR Located in Minneapolis, MN is assisting in the Sale of a Residential Home Care Portfolio.
Exceptionally well run and fully turn-key AFH operation now being confidentially offered for sale. The business owns and operates multiple AFH facilities across Southern Wisconsin with over 70 beds. They have a full management team in place including house managers, HR, maintenance staff and program staff. The business has averaged in excess of $1.3MM in NOI over the last three years. Revenues have averaged roughly $5MM over the last three years. Services and support for residents are paid through various public pay MCO's. Current census has only one vacancy across all facilities. The full portfolio is being offered as a single transaction. The owners will not break apart select facilities in multiple transactions.
|VR in Greenville, SC Facilitated the Sale of A Plumbing Supply Business.
Plumbing supply business with 20,000 sq. ft. showroom, office & warehouse on 2 acres. It is a full service supplier of plumbing products and materials with >$3 Mil. Revenue per year. Customer base includes small & large plumbing companies, contractors, facility managers and DIY homeowners. The company is located in the Upstate South Carolina region and had an asking price of $2.5 Mil. for the business and real estate. It attracted interest from almost four dozen potential buyers, both local and neighboring regions. The various buyer types that inquired were strategic, financial and owner operators. The Buyer is a "strategic Buyer" that owns similar businesses in other locations and thus will achieve additional synergies through the acquisition. One of the sellers is staying on to manage the business for the new owners, while the other is retiring after a 40+ year career.
Congratulations to Bruce Johnson on another successful transaction!
|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:
Have you ever considered selling businesses?