What is my business worth? It's a question I've asked myself hundreds of times over my 40-year long ownership career. And valuing your business, as an exercise, is a great thing to do from time to time -- it gets you thinking and dreaming, which is not a bad thing. But it wasn't until I started buying, expanding, and selling my own businesses that I really got a feel for what … [Read more...] about Valuing Your Business: What is Your Business Worth?
Sell a Business
For most people, selling a business is a once-in-a-lifetime event. It can be an emotional and stressful time for the owner. To optimize your success in selling your small business, it is important that you plan ahead. Here are a few important topics to consider when preparing yourself (and your business!) for the sales process. 1. Be ready to sell. There is no sense … [Read more...] about 10 Steps in Selling Your Small Business
Website owners have a different reason for creating their sites. You may have created your website with the goal of making it as your sole or additional revenue source. Or you may have altruistic motives whereby you don't really aim to make big money (or any money, for that matter) out of it, but simply want to get your message across your target audience. Whatever your … [Read more...] about Thinking of Selling Your Website? How to Determine Your Website’s Value
While no two deals are ever quite the same, the purchase and sale of a business will usually fall in to one of three categories: an asset purchase; a stock purchase; or a merger. There are numerous pros and cons for each type of transaction. Asset Purchase Probably, the easiest way to buy a business is to purchase a seller's assets, free and clear of any and … [Read more...] about Types of Purchase and Sale of a Business
So you've been thinking you'd like to sell your business, retire and have some fun. Does your business own you instead of you owning the business? Or do you have other business interests you would like to pursue? Determine the Value of the Business The first thing you need to establish is what the business is worth and what the bottom line price is for you to walk away. … [Read more...] about Tips for Selling Your Business
Not all brokers are created equal – there are some experts who represent their field with professionalism and many others who are less than competent. It is important to get to know your broker and his/her experience, communication style and strengths. In short, you and your business broker should ‘fit’ as a team working toward the goal of selling your business at … [Read more...] about How to Choose the Right Business Broker to Sell Your Business
Buying a business is the quickest and fastest route to entrepreneurship. Instead of spending time pre-planning and starting a business, you will have in your hands a business that may have already proven viable. An existing business may come with a solid customer base, supplier relationships, and even a well-developed brand. This is the best option for you if you want less … [Read more...] about Determining the Price of a Small Business