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Posts from the ‘Sell a Business’ Category

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

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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
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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
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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
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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
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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 »

22
May

How Retiring Baby Boomers are Driving Small Business Sales

100029946-shopper_5_gettyp.240x160Walt Popcock, a small business owner, dreamed of selling his business and traveling around the US in a motorhome. After successfully selling for the full asking price this April, he’ll be able to do just that. Popcock and numerous other baby boomers are fueling the trend of retirees who are seeking professional services to prepare and sell their businesses in order to capitalize on the improving economy.

The Associated Press wrote about the recent spike of listings in the small business marketplace in Retiring Boomers Driving Sales of Small Businesses. In the first three months of 2013, the number of closed business sales jumped 56 percent Read more »

20
Mar

Q&A: Lessons Learned From a Successful Sale

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We caught up with Brett, a San Francisco business owner who recently sold his college counseling business with help from BizBuySell. It took Brett approximately five months in total to sell his business, from starting the listing process on BizBuySell until signing the sale agreement, and transitioning the business to the owner.  Below is our interview:

Q:  What type of business did you own?

I had started a college counseling business while doing my MBA; The business was focused on helping high school students leverage their academic and athletic skill-sets to get into their best fit college.
Read more »

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