Realistically speaking, selling a business is a difficult step but sometimes, it’s time to retire, or change vocations or do something for yourself. There is both good and bad news for you if you’re ready to sell. The bad news?…
Dear Buyers: Have you ever considered socializing with sellers? I know it goes against the grain for buyers to build relationships for smooth purchase and sale transactions but believe it or not, it makes a huge difference. Buyers like…
Currently, 10 to 1 at least, are buyers over sellers. In Toronto, this proves to be a challenge when attempting to buy a profitable business. Below are options potential business buyers should consider to locate great businesses for sale…
Famous first words… I want to buy a business! But the process of buying a business often ends up being more of a pain than anything else. Obviously, a business broker will tell you to get a business broker. Will…
Personal Goodwill has always been a fascinating subject, impacting the sale of many small to medium-sized businesses – and possibly even larger companies. How is personal goodwill developed? An individual starts a business and, during the process, builds one or…
Basically, there are three major negotiation methods. 1. Take it or leave it. A buyer makes an offer or a seller makes a counter-offer – both sides can let the “chips fall where they may.” 2. Split the difference. The…
Important questions to ask when looking at a business…or preparing to have your business looked at by prospective buyers. • What’s for sale? What’s not for sale? Does it include real estate? Are some of the machines leased instead of…
The closing is the formal transfer of a business. It usually also represents the successful culmination of many months of hard work, extensive negotiations, lots of give and take, and ultimately a satisfactory meeting of the minds. The document governing…
Unlike that poetic title of an old-time standard song, Red Sails in the Sunset, red flags are not a pretty sight. They can cause a deal to crater. Sellers have to learn to recognize situations indicating there might be a…
When it comes time to sell the company, a seller’s prime concern is one of confidentiality. Owners are afraid that “if the word gets out” they will lose employees, customers and suppliers. Not to downplay confidentiality, but these incidents seldom…
A sellers memorandum includes all those points one would normally expect to see in any business plan, to wit: an executive summary, a business description, financial requirements, target market niche, identification of top management, an operations review, analysis of strengths…
How long does it take to sell my business? It generally takes, on average, between five to eight months to sell most businesses. Keep in mind that an average is just that. Some businesses will take longer to sell, while…
