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What is a Business Broker & How Do They Help Me Sell My Business?
What is a Commercial Business Broker? A Business Broker helps a Business Owner Sell his or her business to a Buyer. Similar to Residential Real Estate Agent, except the client/product is a business, not a house. Here are common questions we get: Question: Does a Business Broker Buy the Business from a Business Owner? Answer: No! A Business Broker packages a business for sale and markets the business to attract qualified buyers. What does a Business Broker Do for Business Owners? Prepare the … Read entire article »
Filed under: Business Tips, Business Valuation, Commercial Leasing, Due Diligence, Featured, Negotiation, Selling A Business
Business Valuation Too High Using Wrong Methodologies
Many a client we have come across has a business valuation in their hands that is much higher than reality dictates. The reason for this is multi-faceted. Let’s start with unscrupulous M&A sounding firms who claim to be able to sell businesses for outrageous multiples based on future earnings. Often, these types of firms put on slick presentations and claim to have sold many businesses for great premiums. … Read entire article »
Filed under: Business Valuation, Featured
Does Trust Matter in the Due Diligence Process
You have your Due Diligence Checklist, and you are making progress on completing it, but one thing is in the back of your mind. Trust. Do you really trust the other parties involved in the transaction? … Read entire article »
Filed under: Due Diligence, Featured
Due Diligence Service for Small Businesses – The Process & Checklist
When it comes to doing Due Diligence on the purchase of a small business, it is important to recognize that every business is different and you will need to figure out which are the most important items in your situation. With that in mind, the above are some basics to have in your checklist. Remember, not all of these may apply to your particular situation, and your situation will require specific focus. For a consultation … Read entire article »
Filed under: Due Diligence, Featured
Due Diligence Buying a Coin Laundry Laundromat
A self service ‘coin’ operated laundry sounds like a glamorous and easy profit business. It isn’t, but it can be. If you polled a lot of laundry owners, as we have, you will find that most of them will tell you from experience that there are a lot of ways to lose your shirt when investing in a laundry business. While a coin laundry sounds like a simple business that you buy and then collect … Read entire article »
Filed under: Business Opportunity For Sale, Business Tips, Due Diligence, Featured
Franchising: CNBC’s ‘Inside’ Look at it
CNBC just broadcast a show highlighting five Franchise Brands. The official title is ‘Behind The Counter: The Untold Story of Franchising.’ The show had three story lines. One was about Franchisors doing a good job of growing and maintaining a brand (Proctor & Gamble and Five Guys), … Read entire article »
Filed under: Business Tips, Featured, Franchises, SBA, Uncategorized
Unhappy Franchisees
I am sure there are more of these, and that most franchise brands have their own franchisee run website for gripes about the franchise, but Unhappyfranchisee.com is a resource to hear some horror stories to educate yourself on things to watch out for when getting into a franchise network. That is the one thing I have noticed in my years as a broker, so many people get into a business or franchise without knowing all of the relevant facts, and like they said on G.I. Joe, knowing is half the battle. What you don’t know will lead to horror stories like the kind you will find on Unhappyfranchisee.com … Read entire article »
Filed under: Business Tips, Featured, Franchises
Getting Ripped off on Merchant Credit Card Fees?
Getting Ripped off on Merchant Credit Card Fees. I have seen this many times when escrow closes on the sale of a business to a buyer. The first places people think of when they look for merchant processing is the bank which with they have set up the business banking accounts with. When setting them up, they’ll be told that Bank also offer Merchant Processing for them. Be Careful to review the terms your bank is offering, often times you can shop around and get better terms with another third party processor. Watch out for getting locked into an unfavorable contract and paying inflated prices on the actual physical processing equipment you receive. If you buy them from the processing company they could be charging huge markups or trying to … Read entire article »
Filed under: Business Tips, Featured
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