If you’re beginning to think about selling a business, you need to ensure that you have a sound exit strategy in place. Why? Because comprehensive exit planning will aid in assuring a smooth and lucrative transfer of ownership of your business. Here are some of the many benefits that business owners will realize from proper…
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No one wants to waste their time and energy trying to sell their business to someone who isn’t actually planning to buy. That’s why it’s so important for you and your business broker or M&A advisor to focus on the most qualified and serious buyers. But how can you really make these kinds of assessments…
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There are clearly qualities that make a person an ideal candidate to be a business owner. On the other side of the coin, however, it’s clear that owning a business isn’t for everyone. Let’s take a look at some of the unique personality aspects that help motivated individuals identify owning a business as a good…
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If you’ve ever gotten any type of substantial loan, chances are that you’re already familiar with the concept of collateral. This is when something of value is pledged as security. As a result, the lender has something of value that they could potentially take if the loan is not repaid. Collateral is designed to protect…
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A partnership agreement is a legal document that provides an outline of how a business will be run. This agreement will often be used by small for-profit businesses when two or more people are involved. It’s an essential document to have, especially in the case when a dispute arises between partners. Even if you have…
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As a business owner, the time will come when you’ll need to secure a business valuation that adheres to the Uniform Standards of Professional Appraisal Practice (USPAP). The USPAP are national standards applicable for most U.S. appraisals, adopted by Congress in 1989. Whether you need the valuation for tax purposes, exit planning, a planned merger,…
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As a business owner, your natural inclination is likely to be considering the strengths of your business and how to perform even better in the future. However, the truth is that sitting back and thinking about your flaws can actually benefit you in the long run. When you have a full understanding of where you…
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BizBuySell has issued their latest insight report, which summarizes market growth and trends from last year. In this report, they have several interesting areas to report including a summary of how lower sales prices and rate hikes impacted the value of businesses in recent months. The report can be found at https://www.bizbuysell.com/insight-report/#reportArchive. Overall Trends in…
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BizBuySell just released its latest insight report, which tracked sales and growth in 2022 and compared it to the prior year. Overall, we are seeing a high demand for service-based businesses as well as an increase in restaurant business sales. The insight report also reveals what business brokers across the country are expecting for 2023…
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Business owners planning to sell their businesses will need to create an offering memorandum. Also known as a selling memorandum, or a selling memo, this document will provide an overview of the business, and reasons why the business would make a good investment for potential buyers. Here’s what to include, in a business selling memorandum.…
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