Monthly Archives: February 2010

Priscilla’s Top-Ten Transition Tips 1)    Do as much in advance as you can of the things that must be done in the first 2 months of ownership. Set up bank accounts Establish merchant services Buy the software you know you will need that does not come with the business, i.e. accounting, design, inventory control, etc. Establish professional relationships…accountant, lawyer, banker, bookkeeper Find the place to live and the things to live with Have [...]

Entrepreneurs looking for businesses for sale can benefit by working through a broker. Brokers are not necessary for any sale and they are not only for Sellers.  Some brokers work exclusively with buyers and are paid by buyers, not sellers. What about the money side of things?   The buyer working through a business broker may spend more money for the business as a seller not paying a commission may have a lesser price [...]

Recently someone was about to sign a listing agreement, for the sale of their business.  At the last minute, they elected to try to sell the business themselves.  At this point they had received some of the materials a broker might typically use for the sale of the business, a list of the places any business might be marketed on the internet, and input from the broker as to the general nature of [...]

Susie has a business for sale.  The business is a marketing company.  She has been in business for ten years and has made a nice income, kept reasonable records,  built a list of clients, has a company name beyond her own, and has evidence of her services in the market place in a permanent fashion, one that carry forward. Being conservative, Susie has never had an office, uses her own car to get [...]

Yesterday I met with an attorney.  We were chatting about the sale of a business and the implications of inventory. Imagine, it is the day before close, after a month or two of due diligence.  The demands of the buyer have been slightly on the nerves of the seller.  After all, did the buyer not realize the great value of this business?  The buyer feels like he had to slug through the due [...]