Skip to content

Posts from the ‘Sell a Business’ Category

28
Aug

5 Must-Do’s for Creating a Winning BrokerWorks Profile

brokerworks-profile-picBizBuySell receives over 1.4 million visits each month from active business buyers and sellers – an ideal opportunity for brokers to market themselves and gain new clients. Not only does your BrokerWorks profile allows you to promote yourself to prospective clients, it distinguishes you from other brokers. What someone does or doesn’t see in your profile can make all the difference in their decision to select you to represent them versus your competition.

 

Here are 5 must-do’s for a winning BrokerWorks profile that’s both powerful and informative:

 

Step 1: Put On Your Best Face. Images are important, and what you need to include is a simple, professional profile photo of yourself. Try to avoid unnecessary objects in the background.

 

Step 2: Your personal tagline should be catchy. Include good keywords and phrases that may also help you appear in web search results. A headline such as, “Top Selling Business Broker Specializing in Restaurants and Franchises” creates a great first impression and includes information about how you can help potential clients.

 

Step 3: Distinguish yourself from others. Your introduction and background should not be limited to a few bland sentences of work history. This is your chance to be creative, distinguish yourself from others and provide value to potential clients. Phrases such as, “I am the founder of XYZ Business Brokerage, the leading business brokerage firm in Dallas. For over 20 years, I’ve assisted both buyers and sellers successfully close deals, from search and due diligence, to valuation, financing and ultimately closing the deal …” reveal specific details about your skills and abilities.

 

Step 4: Make it personal. Always write in the first person; this is your personal profile, not a company description.

 

Step 5: Gain credibility by association. By mentioning your affiliation with professional groups such as the IBBA, M&A Source and other relevant associations, you suggest you are focused and a committed player in your industry. You also stand out from the competition.

 

If the tasking of updating your BrokerWorks profile seems too daunting, try setting aside 15 minutes a day to focus on improving just one section. At this rate, you’ll have a winning profile in no time.

13
Aug

6 Key Financial Strategies to Get Top Dollar for Your Business

Closing-a-Business-Deal-PicYou’ve worked hard for many years building a successful and profitable business. Now, as you prepare to sell your business, the big question is: How much is it really worth? According to The BizBuySell Guide to Selling Your Small Business, what your business is most likely to sell for is based on a buyer’s assessment of financial statements, industry comparable sale figures, asset values, return on investment, and the goodwill worth of your business as a going concern.

 

Following these 6 key steps will get you on your way to setting an asking price for your business:

 

Step 1: Get Your Financial Statements In Order. Consult with your accountant or bookkeeper and put together the following key financial statements:

 

  • Income Statement – This should show your gross revenue, costs, and how much your business made or lost each year.
  • Cash Flow Statement – This should show how much money was received and paid out of your business and how business assets changed as a result.
  • Balance Sheet – This should show the value of all tangible assets owned by your business less the liabilities your business owes.
  • Seller’s Discretionary Earnings Statement – This should show how much your business makes after backing out non-recurring and discretionary expenses.

Read more

10
Dec

Selling Your Business: How To Tell Your Employees

Original post on Inc. by Curtis Kroeker
 
78404099_30717The sale of a business is a major milestone for an entrepreneur. In fact, your exit-strategy probably has been top of mind for months, even years, and you’ve had ample time to process how the sale will impact your personal and professional life.
 
But your employees? Not so much. In fact, they’ll be shocked to learn that they will soon be answering to a new boss.
 
 As a compassionate business owner, you want to help ease the transition for your workers. But telling them that you’re planning to sell before a transaction is complete could jeopardize the timing and price of your deal.
 
So what do you do?
 
Although there may be unique circumstances that require you to inform all employees about your sale intentions early in the process, it’s almost always better to wait until the deal has closed to bring your employees up to speed.
 
 
Read the full article on Inc. here: http://www.inc.com/Curtis-Kroeker/how-to-tell-your-employees-about-a-sale.html

10
Dec

4 Reasons Sales of Small Businesses Are Booming

02102012_Small_Business_article

As reported in BizBuySell’s 3rd Quarter Insight Report, small business transactions jumped 42 percent over the same period in the previous quarter, to reach nearly 1,700 closed transactions. Sales of restaurant and retail businesses have led the way, with transaction growth of 11 percent and 61 percent respectively.
 
 
To put this in comparison, BizBuySell reported just over 1,000 transactions in the fourth quarter of 2009. A recent article in The Fiscal Times uncovers why, after years of slow sales following the recession, the business for sale market is making its comeback.
 
“As the economy continues to improve, consumer confidence increases, and small businesses continue to gain in market share, you’re going to see more businesses looking to sell,” says Brian Miller, COO of AdviCoach, a national business coaching company. “The best time to sell is when a business is doing well.”
 
According to The Fiscal Times, the small business market is thriving due to these 4 factors:
 
1) Prices have improved. The median business sale price was up 3% last quarter, making it the fifth quarter to show gains.
 
“During the downturn a lot of potential sellers paused because their business’ valuations were down,” says Andy Cagnetta, CEO of brokerage firm Transworld. “Now that earnings have picked back up, they feel like there’s an opportunity to sell again.”
Read more »

5
Nov

6 Issues to Consider Before Hiring a Business Broker

By Curtis Kroeker in The Business Journals | November 4th, 2013
  
When selling your business, you have the option to either sell it yourself or hire a business broker. Though selling your business is possible, hiring a broker will often ensure a smooth sale and transition from ownership.
  
“Unlike many small business owners, brokers have years of experience in selling small businesses. They know what works and what doesn’t, making them extremely helpful when Read more »

10
Oct
2013Q2_National_ClosedSmallBusinessTransactions

Small Business Transaction Growth Continues, Up More Than 41% from Same Time Last Year

BizBuySell.com Insight Report shows significant spike in business sales for third straight quarter with restaurant, retail industries leading growth.

  

BizBuySell.com the Internet’s largest business-for-sale marketplace, reported today that small business transactions jumped 41.7% in the third quarter Read more »

28
Aug

Client Services Q&A: How to Optimize Your Listing

Learn a few of the most common questions about online business-for-sale listings, and how you can make yours stand out.

Kristal, from BizBuySell Client Services
 
Posting a business for sale online can be a process that raises a lot of questions. As a member of the BizBuySell Client Services, there are a few common questions I receive every day; Sellers may second guess the words used to describe their business, ask how they can boost exposure for their listing, or call to find out how their listing is performing.  In an effort to help sellers get the most value and attract the right buyer, I have created a list of these top three checks to perform once your listing has been submitted to BizBuySell.
Read more »

9
Jul
Checklist-for-Buying-a-Business-300x232

Key Differences in Performing Due Diligence on Online vs. Brick-and-Mortar Businesses

Bryan O’neill, co-founder of a web asset due diligence company, analyzes the key differences between the recommended due diligence process for acquiring traditional businesses, in comparison to that for internet businesses and websites.
Read more »

26
Jun
AgingPop

Time to Sell-High: Why Now’s the Time to Sell Your Business

Economic indicators and demographics are suggesting an improved environment to sell a business. As the saying goes, “buy low and sell high”, and a recent article on Inc. Why Now’s The Time to Sell Your Business explains why now might be the high-selling time.

BizBuySell recently reported that in the first three months of this year, the number of closed small business sales jumped 56 percent Read more »

26
Jun
Handshake

Experts Weigh in Finding the Right Business Broker

BizBuySell’s recent contribution on Inc. explained a few of the biggest advantages to using a business broker and asked some of the industry’s leading business brokers to give advice on how owners can find the right broker to sell their business.
Read more »

Follow

Get every new post delivered to your Inbox.

Join 74 other followers