Category: Business For Sale

Announcing the Sale of Your Business: Common Employee Questions and Concerns

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Announcing the sale of your business to employees can be a delicate matter that requires good communication and keeping the news confidential until the sale is definite. Mishandling communication can lead to a host of unwanted problems that can easily be avoided with some preparation. Before you ...
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How Getting Your Business Valued Shapes its Future

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The journey of business ownership is an adventure filled with ups and downs. To navigate this path with more ease and clarity, understanding the true value of your business is akin to having a reliable compass. This process isn't just about numbers; it's about making informed choices that shape your ...
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Considering Selling Your Business in 2024?

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Selling your business is a significant decision that requires careful planning and execution. Too often, a business owner waits until they are ready to sell their business to start planning their exit. While it can be done on the fly, a lack of planning often leads to an unnecessary decrease in ...
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Know Your Company’s Worth

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Posted by Melanie Smollen on

Most people know what a business valuation is (the process of figuring out what your company is worth), but not everyone knows the different reasons valuations are performed. Aside from the obvious need for a valuation when you’re ready to sell the business, valuations are preformed for many d ...
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Selecting a Broker

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You’ve decided you are ready to talk with a business broker about buying or selling your business. It wasn’t an easy decision; there is a lot to consider! You’re a little nervous about making the call and starting the process, but you’re even MORE nervous about making sure you select the rig ...
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When is it Time to Sell?

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Posted by Jennifer Smith on

How do you know when it’s time to sell your business? To some it might seem like a silly question, but for a business owner (and particularly for a family-owned business), the decision can cause some sleepless nights. Since we work with a lot of sellers, here is a list of some of the tell-tale sig ...
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Value vs. Sellability

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Posted by Jennifer Smith on

  One of our favorite things to talk about is how to increase the value of small and mid-sized businesses. Most business owners know how to impact line items on their financial statements (i.e. revenue, salaries, bank balances, etc.), but we find that driving the actual value of the business ...
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A New Year’s Resolution for 2021

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Posted by Jennifer Smith on

It’s a new year! And while it may not feel that much different than the challenging one we left behind, it’s still traditionally a time to assess our current situation and make a resolution to change things that need to be changed. Often, we try to look at ourselves objectively and determine if ...
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Throwing Good Money After Bad

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Posted by Jennifer Smith on

“Know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run…” Kenny Rogers may have been talking about gambling, but the lyrics work for business owners too. Over half of businesses in the US have been impacted by COVID this year to some degree and as we ...
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Marketing Blindly and Nationally

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Posted by Jennifer Smith on

If you’re a savvy business owner, you know that maintaining strict confidentiality is critical when selling your business. Only a handful of people should know you’re thinking of selling: your spouse, financial planner, accountant, and attorney. Often, this element alone will push a seller towar ...
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Coronavirus and Business Brokerage

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Posted by Jennifer Smith on

[embed]https://youtu.be/VQFHdUgdgTc[/embed] Coronavirus. Yep, we’re jumping on the bandwagon. Why on earth are we, business brokers, talking about Coronavirus?! It has nothing to do with buying or selling business, right? Hang with us for a minute… On March 3rd, the Federal Reserve cut int ...
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Retaining Key Employees

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Posted by Jennifer Smith on

Think about the key employees in your business. The ones who understand how everything works: employee roles, client preferences, supply chain, cash flow, compliance, etc. When they take a well-deserved vacation, you FEEL it and so does everyone else. They might be in sales, support, administration, ...
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2020 Forecast

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Posted by Jennifer Smith on

2019 is in the books. In general, people are feeling pretty good right now. The S&P 500 was up 28.9% and the Nasdaq was up 35.2%. Unemployment is crazy low at 3.5%, optimism is high, and although there has been lots of turmoil nationally and globally, it has mostly impacted a few specific sector ...
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The Importance of Knowing Your Business’s Value

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Posted by Jennifer Smith on

How much is your business worth? How much is it actually worth to a buyer if you were to sell it right now? Even if you’re not ready to sell at this moment, knowing this number is very important for a few reasons: Planning: We know that most business owners work with financial planners and ac ...
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Competition

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Posted by Jennifer Smith Hendrickson on

Non-competes. You’ve probably been exposed to them at some point. Perhaps you have employees sign them or maybe you have signed one yourself at some point. Non-competes are also a very important component of a business transfer. Imagine this: You bought a high-end restaurant. Since you struck a ...
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8 Ways to Make Buying a Business Less Scary

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Posted by Jennifer Smith Hendrickson on

In addition to eating a ridiculous amount of candy corn, with Halloween around the corner, we’ve been thinking about all things scary. Here are some things that can make an entrepreneurial leap a little more comfortable. If you’re a business owner looking to sell, take note of these things too a ...
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Business FSBO

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Posted by Jennifer Smith Hendrickson on

With all of the online options at our fingertips these days, it is easier than ever to sell things. You can buy everything from a couch, to a car, to a house just by listing them online. In these days of the FSBO (For Sale By Owner) posts, wouldn’t it just be easier to try to sell your business th ...
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Should I Tell My Employees I’m Selling?

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Posted by Jennifer Smith Hendrickson on

The short answer: no. We have sellers all the time who ask us this and our answer is always the same: it’s a bad idea. Even if your team is small in number and a very tight knit group, we still recommend that you don’t take them along with you on the ride of selling a business. There are a few l ...
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How We Value Businesses

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Posted by Jennifer Smith Hendrickson on

You’ve probably received a few newsletters from us now that mention getting your business valued and why you should do that. Perhaps you’re wondering how we actually determine the value of your business. Below are the steps in our process. When we compare our valuations to actual sales prices, w ...
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Knowledge is Power

Business For Sale

Posted by Jennifer Hendrickson on

Selling a business shouldn’t be a mysterious process done behind a black curtain and only understood by a select few.  The more you understand how your business is valued, how to make it more attractive, and how the selling process works, the better equipped you will be.  That’ ...
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