A recent survey revealed that the average time between listing and sale was 9 months. Why does it take so long to sell a business? Price and terms are the biggest reasons. Not over-pricing the business at the beginning of the sales process is a big plus, as well as...
If you are considering selling your business, remember that there are positive factors that influence value and those that detract from it. Looking at your business from a buyer’s perspective is important since a prudent buyer will be adding and subtracting these...
How does someone else, for example, a potential buyer, rate your business on the issues listed below? Rate your business and yourself on the time-honored “A” to “F” scale. You can even use a plus or minus. What’s your average? Too many business owners operate on gut...
Plan on selling your business? Here is a much-needed checklist! Here are some tasks business owners should consider completing before going to market to help their businesses sell. Remove any items not included in the sale. That family heirloom portrait behind the...
Some years ago, when Ted Kennedy was running for president of the United States, a commentator asked him why he wanted to be president. Senator Kennedy stumbled through his answer, almost ending his presidential run. Business owners, when asked questions by potential...
If you are even thinking about selling your business, it’s important to know the questions that buyers generally want answers to. For example, the first question almost always asked by buyers is: If this is such a good business why is it for sale? How you answer this...
If you are an independent business owner, you are most likely also an independent business seller–if not now, you will be somewhere down the road. The Small Business Administration reports that three to five years is a long enough stretch for many business owners and...
Determining an asking price for your business can be tricky. If you price it too high, you won’t attract any interest. If you price it too low, you risk leaving money on the table. The business-for-sale marketplace is a dynamic exchange in which both asking prices and...
Are you looking to sell your business this year? If so, here’s some good and bad news. First, the bad news. If you’re looking to sell right away, you probably won’t get full value, as it takes a good year of preparation to sell before you actually put your company on...
Not every prospective buyer actually buys a business. In fact, out of 15 prospective buyers, only 1 actually makes a purchase. Sellers should remember that being a buyer can be stressful. The bottom line is that buying a business is usually one of the single largest...