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Recently a business broker who has facilitated over 850 transaction, those of his own and those of folks who have worked under his management said: "In all of my 26 years of selling businesses, I have never seen private investors, particularly friends, come to the table."  Perhaps this is an exaggeration but can it happen? A buyer working to find money has had three 'friend' investors but really they did [...]

Even for the business-for-sale entrepreneur, social media may be important.  As a leading-edge (meaning older) baby boomer, social media is perhaps not quite my cup of tea but I must not ignore it.  Thus, there is this blog and my LinkedIN and Facebook presence to stay, if not cutting edge, at least properly in tune. THEY say businesses typically have a 20-year life span.  It seems this is really more [...]

My mantra to the person wanting to sell their business: “If your business is not performing today as well as it can and you can wait, do wait (to sell.)” However, for some waiting is not an option.  There are dread diseases that threaten the business owner or her family.  There are long awaited retirements.  There are other desired business opportunities that cannot wait.  The current owner may not see [...]

If your business is ready to be sold and you have an inside buyer, some friend, family member, staff or other known party, you can sell to them, perhaps with more confidence.  However, there are cautions to take. 1)   Don’t short yourself on seeking professional advice from your accountant, attorney, and broker.  They can each take a role in helping you to ensure a sound transaction. 2)   Use someone, perhaps [...]

A friend sent me this via email.   Consider your business, your life... THE SITUATION In Washington DC , at a Metro Station, on a cold January morning in 2007, this man with a violin played six Bach pieces for about 45 minutes.  During that time, approximately 2,000 people went through the station, most of them on their way to work.  After about 3 minutes, a middle-aged man noticed that there [...]

Many business-for-sale buyers come from corporate environments, rich with education and colleagues providing opportunities for collaboration and group think. Often a new small to mid-size business owner, coming from that rich, though flawed, environment, finds themselves lonely with no sounding board.  Further, they have limited opportunities to share what they know with others. Business Tip:  In most every community there are networking opportunities already.  Join in or create your own.  [...]

Priscilla’s personal experience in buying a business for sale:  Some years ago I was in a transaction with a business broker.  We identified the likely business to buy and I reviewed a lot of the business background.  At one point, the seller asked me “Are you interested in the business only because of the money?” Prior to this question, I had determined the key components of the proper business for [...]

What if you were the buyer of your business for sale?  What would you look at to determine whether it is a great buy? This is a great exercise to do prior to selling the business. This is a checklist you might use: Note:  This list does not pass judgment at all on the proper answers to the questions but merely suggests you should know the answers and change those [...]

Over and over this year and last, the word has been to so many who would like to retire or merely move on to other business ventures “don’t sell your business now if you can wait.” The unfortunate piece of this message is that folks are tired.  They are not finding the energy they once had to find new solutions, take more cost out, do the jobs once someone did [...]

The slow economic turn around has many owners having to make the tough decision of selling low, getting out through liquidation, or waiting to sell their business. If you have decided the best strategy for you is to wait until the economy and your business rebounds, don’t sit and wait.  It is hard but, in the situation where you want to sell your business but barely seem to have the [...]

How does a vending company as a business-for-sale secure the validation of its business. Eample:  Jordan had moved to the community after college and a brief stint working abroad.  He recognized the economy was not going to help him find a job.  He also knew that having sufficient money to pursue various dreams would not grow on trees.  So, he elected to build a business for sale, anticipating a profit [...]

Imagine this:  You have just been successful in purchasing a business for sale or starting your own business.  You are busy:  New staff; New systems; Tight cash; Grumpy customers.  Certainly you can wait to plan the sale of the business.  Right? Wellllll, perhaps you are even a bit, but just a bit, behind the eight ball. Actually, it is never too soon to plan.  One never knows what might happen [...]