When Is It Time to Sell Your Business? Part 2
These might be additional reasons the timing might be right. Health A sale is sometimes necessary due to the health of the owner. Structuring a deal for a quick sale due to the owner’s health does not have to be for a lower price. A seller can set up a low down payment and an…
Read MoreWhen Is It Time to Sell Your Business? Part 1
A business owner can spend his entire career developing a business. It’s his “baby.” Selling can be the most difficult decision a business owner will make. It is filled with emotions similar to sending a child off to college or giving a daughter away at her wedding. The timing and reasoning for selling must be…
Read MoreAre Social Media Accounts an Asset When Selling?
In case you haven’t noticed, customers no longer just go to the mall and shop. They now ‘google’ everything. And then they may (or may not) just order what they are looking for online. Whatever your business, however well-established you are, however impressive your website is, your business probably should be using social media, too. …
Read MoreHow To Compare Businesses You’re Interested in Buying
You’re looking for the perfect business to buy. You find several that interest to you, so it’s important that you compare them. How do you know which would be best? Here are several important things to look at. Financials – Obviously it’s important to take a close look at financials. They’ll give you a…
Read MoreCaution: Your Cognitive Bias is Showing When Determining Selling Price
When you are ready to sell your business, a common psychological disorder that will interfere with you selling the business yourself is your cognitive bias. A cognitive bias refers to the systematic pattern of deviation from norm or rationality in judgment. Your cognitive bias is totally understandable. You desire to maximize the return on your entrepreneurial efforts. …
Read MoreThe Process: Selling a Business
By the time Peterson Acquisitions has found a buyer for your business, you’ve already prepared much of the paperwork a financial institution will need from you to loan money to someone interested in buying your business. You’ve already supplied at least three years worth of the businesses tax returns, income statements and a balance sheet.…
Read MoreHow Do You Know the Sale Price of a Business Fair?
The bottom line is that a fair price for a business is the amount the seller is willing to take and the buyer is willing to pay. But before that point is reached in negotiations, buyers want to feel comfortable that the asking price is fair. The best way to do that is to ask…
Read MorePreparation is Key When You Exit Your Business
There are many things that come into play–both emotional and financial–when you decide it’s time to exit your business. While the money received from the sale of your business can be life changing, make sure you’ve planned for the next phase of your life. Owners are deeply engaged in their businesses. They have invested a lot…
Read MoreBefore You Buy a Business…Consider An Asset Purchase Agreement
You’re buying an existing business. Congratulations! Before you close the deal, here are a few things to keep in mind: Buy the assets, not the business. Under no circumstances should you buy stock in a business. Instead, buy the assets of the business and form a separate company to act as the purchaser. There…
Read MoreConsider Your Talents and Interests When Buying a Business
Buying an existing business represents less of a risk than starting a new business from scratch, but it’s important that you consider your talents and interests. Being honest about your skills and experience can help you make the right choice. Only you can determine the right business for your needs, but you’re going to be…
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