About This Blog
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Peter Siegel, MBA is a nationally known consultant and author - with over 25 years experience on the topic of selling, buying, and niche financing (the purchase of), small to mid-sized businesses. His clients include: business buyers, business owners/sellers, small business advisors, and business brokers. |
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This Blog contains observations, tips, news, events, and case studies relating to selling or buying a small business. |
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This Blog is ideal for business buyers, business owners, advisors, business brokers & agents. |
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Opinions expressed on this site do not necessarily represent those of BizBen. |
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Opinions expressed here do not constitute legal advice. Those interested in specific guidance for legal matters should seek competent professional advice. |
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Posts tagged 'selling a business'
The following posts are associated with the 'selling a business' tag.
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Results 1 - 30 of 132 |
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Posted on October 27, 2009 Contributed by Peter Siegel
Should Real Estate Be Included In The Sale Of A Business?
Should business opportunity offering include the real estate? There are no right or wrong answers to the question about whether the seller of a business should include the real property, or sell the company only and continue on as the landlord/lady. This question was posed to our panel of experts and we got a diverse range of suggestions and ideas, demonstrating that the solution to this puzzle depends on circumstances and requirements of the parties.
Posted at 8:10am | 3 Comments
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Posted on October 26, 2009 Contributed by Peter Siegel
Selling A Business: FREE Online Webinar For Owners - 10/28
70% of all small and mid-sized businesses never sell when they are put on the market. Selling a business is not like selling a piece of real estate or any other type of asset. This webinar is designed for small and mid-sized owners who are thinking of selling their business and need to know how to prepare and follow-through the right way to successfully value and sell their business. Selecting the right business broker or agent is also critical for this process and we will explore what to look for in an intermediary and what you should expect from them. This FREE webinar is designed for business owners of small and mid-sized businesses and is presented by Peter Siegel.
Posted at 7:24am | 0 Comments
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Posted on October 21, 2009 Contributed by Peter Siegel
Six Seller Secrets - Avoid These Errors
Recognizing that 70% of the small and mid-market-sized businesses offered to buyers are never sold, and that some of the obvious reasons--over-pricing, inadequate records, insufficient lease--have been discussed in detail, it might be useful to point out lesser- known problems, often resulting from errors made unknowingly when attempting to sell a business.
Posted at 6:09pm | 6 Comments
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Posted on October 8, 2009 Contributed by Bob Klein
Showing Your Business: Tips For Business Buyer Visits
Showing your business when selling is one of the most important steps in the sale process and how it is done will greatly effect the selling price. There are two areas to be concerned with, how the business looks and how you react to the prospective buyer. Bob Klein with Business Appraisals discusses this topic with BizBen readers.
Posted at 8:15am | 4 Comments
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Posted on October 8, 2009 Contributed by Steve Fitzgerald
San Diego Workshop: What’s My Business Worth in Today’s Market? 11/11
Steve FitzGerald, a San Diego business broker is presenting his next San Diego workshop: What’s My Business Worth in Today’s Market? He will provide information on how to ascertain a realistic valuation range on your business, whether in good times or bad. He will also cover recent changes to the availability of credit to business owners as well as buyers looking to purchase a business. This workshop is free, but participants must RSVP.
Posted at 7:25am | 0 Comments
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Posted on October 8, 2009 Contributed by William N. Kobayashi, CBI, CSBA, CMEA, CBC
LA Workshop: Secrets Of Selling Your Business - 11/11
William N. Kobayashi CBI, CSBA, CMEA is the Principal of KMK Business Solutions in Los Angeles County present this workshop, "What Is Your Business Worth?" where he answers the questions: Is this a good time to sell? How about financing? Will I need to finance part of the business? How long will I need to stay on for training? Can a gain a lift in value with a formal business valuation? How can I best market my business? How do I prepare my business for sale? How do I minimize or defer taxes related to the transaction?
Posted at 5:22am | 0 Comments
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Posted on September 21, 2009 Contributed by Willard Michlin
Business Appraisers, CPA's, Due Diligence Experts
The buyer of a small California business needs three experts on his or her team when conducting due diligence. What are their functions and how do they carry out their work in the case where a seller's statements about the company's earnings cannot be proven? Here are some insights that will be useful for someone engaged in, or planning to conduct due diligence.
Posted at 6:05am | 5 Comments
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Posted on September 16, 2009 Contributed by Jeff Back
Good Management Beats A Good Location
People who know me know my opinion about what it takes to be successful in the restaurant business - and it’s not just a good location. What makes a difference time and time again is the difference in management. Good management is the key to success. Every time you hear its Location Location Location, I say it’s Execution Execution Execution! This blog post/article was written by Jeff Back, restaurant sales specialist in the San Francisco Bay Area.
Posted at 7:42am | 6 Comments
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Posted on August 26, 2009 Contributed by Steve Fitzgerald
Factors That Influence When To Sell A Business
Factors that influence a business sale include: {1} if someone offers you substantially more than what the business is really worth, {2} if you have reason to believe you have significant health issues ahead of you, {3} if your spouse hates the business and wishes that you were no longer involved in owning it, {4} if you are ready to retire or want to move on to other opportunities, and {5} if you can accurately predict forthcoming doom and gloom coming in either your industry or in the overall economy. Steve Fitzgerald, business broker in San Diego explores these issues with BizBen Blog readers.
Posted at 8:25am | 5 Comments
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Posted on August 18, 2009 Contributed by Lee Petsas
Selling A Business: When And How To Tell Employees
Lee Petsas a Southern California business broker writes about his experiences relating to when to tell employees the business is for sale or has been sold. If you are thinking of or in the process of selling a small business but not sure when to approach your employees read this article for different approaches and ideas.
Posted at 8:08am | 5 Comments
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Posted on August 10, 2009 Contributed by Bob Hughes
What To Do When Your Business Isn’t Fun Anymore
Just because its time to sell your business does not mean you’re throwing in the towel. Many times small business owners are ready to move on to other things; retirement, a new job, a new venture, more time with family, a focus on personal health, or any combination of factors. Bob Hughes with Hughes Properties explores these issues in this blog/article on BizBen.com
Posted at 8:58am | 5 Comments
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Posted on July 28, 2009 Contributed by Lee Petsas
Selling Your Business Note After You Sell Your Business
It definitely helps to sell your business if you carry a note for the buyer. What about selling your note after the close of escrow? Do you want to effectively “cash out” of the sale? There are companies who specialize in purchasing Business Notes (of course at a discount). You can sell all or part of your note. Lee Petsas discusses this entire process in his latest article on BizBen.
Posted at 8:05am | 4 Comments
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Posted on July 24, 2009 Contributed by Christina Lazuric
Signatures On An NDA: Question From Christina Lazuric
Christina Lazuric, a business broker in Orange County asks the questions:
1- Is it legal in the state of California to put that legal blurb in lue of a signature for an NDA. 2- Does anyone have the correct phrase?
Posted at 6:54am | 0 Comments
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Posted on July 15, 2009 Contributed by Tawnya Gilreath, CBB
Why Earnest Money Deposit Requirements Can Be High
Tawnya Gilreath a Los Angeles area business broker explains why earnest money deposits serve two purposes. First, they show the Seller that you are serious about buying the business. Secondly, in the event that you as the Buyer default on the purchase agreement after due diligence and other contingencies have been removed, the earnest money deposit typically serves as liquidated damages to the seller.
Posted at 8:09am | 7 Comments
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Posted on July 14, 2009 Contributed by Joe D. Robertson
When Do I Tell My Employees The Business Is Being Sold?
With the multitude of factors that come into play when deciding the appropriate time to inform your employees that your business is for sale, I do not offer a standard or general answer. When sellers consult me as to my opinion on when it is the right time, I like to review the major issues that will affect the decision.
Posted at 9:36am | 6 Comments
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Posted on July 14, 2009 Contributed by Ron Hottes
Cash Flow/SDE: Determining The Worth Of A Business
The value of the small business is mostly determined by the cash flow (or business brokers use the term "Seller's Discretionary Earnings" instead to be more accurate). Seller's Discretionary Earnings (SDE) is defined as net income before taxes (operating income); interest; depreciation and amortization; owners compensation; owners benefits; and non recurring expenses. James Jun, MBA - Vice President with Business Team in Southern California (Ron Hotte's office) explains how he calculates the value of a business.
Posted at 9:01am | 6 Comments
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Posted on June 29, 2009 Contributed by Tawnya Gilreath, CBB
Selling A Business With A Month-To-Month Lease
There is no "one size fits all' answer or solution in business transactions. That is part of the challenge. Every business is unique as is every Buyer and every Seller. Tawnya Gilreath explores the issue of month to month leases in this blog/article.
Posted at 5:15am | 4 Comments
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Posted on June 18, 2009 Contributed by Christina Lazuric
A Business Brokers Perspective On The Present Economy
Christina Lazuric a business business broker in Southern California expresses her thoughts and approach to our current California economic condition. Whether you are thinking of buying, starting, or selling a business Christina offers her ideas of getting through this period.
Posted at 8:18am | 5 Comments
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Posted on June 16, 2009 Contributed by Joe D. Robertson
Important List Of What Brokers Need From Sellers
Joe D. Robertson, an Orange County business broker provides a list of important items, documents, and paperwork of what he feels is important for sellers to give to brokers (and agents) before the business for sale process begins. If an intermediary is truly serious about selling a business opportunity they should read this blog post/article and see what types of information should be provided to potential business buyers.
Posted at 7:03am | 6 Comments
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Posted on June 11, 2009 Contributed by Ron Hottes
Business Sellers Need To Be Optimistic, But Realistic As Well
If you are a small business owner thinking of selling your company you need to be realistic on how the sale will move forward. You need to put just as much preparation into the sale of your business as you did when you started it. A seller needs to be optimistic about their expectations, but realistic as well. Ron Hottes, a business broker in Southern California notes several items business owners should think about before going to market to sell their business.
Posted at 7:56am | 4 Comments
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Posted on May 21, 2009 Contributed by Sean Edelstein
5 Common Seller Slip Ups When Selling A Business
After many years of selling flower shops and other businesses, I’ve compiled a list of the top five reason sellers “Slip up” when trying to sell their business. Rest assured there are many more than five reasons; these are just the most common. Sean Edelstein, a Southern California business broker discusses these "slip ups" with BizBen viewers.
Posted at 9:54am | 6 Comments
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Posted on May 21, 2009 Contributed by Peter Siegel
Owner Asks: Good Time To Sell With Lease Coming Up?
A potential small business owner/seller asks the question: I have a preschool and am thinking about selling it but my lease is ending soon. What would be the best thing to do? Do I renew the contract or do I act the landlord to sign a contract to the new buyer? and is it a good time to sell?
Posted at 7:40am | 4 Comments
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Posted on May 19, 2009 Contributed by Peter Siegel
Times When It's Your Broker Who Should Handle Negotiations
While much of the negotiating for purchase of a small California business is conducted at “arms length,” meaning that the principal is not present when his or her offer or counteroffer is presented to the other party, there are times when buyer and seller find themselves at the same table, where they attempt to come to an agreement on a deal.
Posted at 8:50am | 1 Comment
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Posted on May 19, 2009 Contributed by Peter Siegel
SELLERS: Don’t Make It Hard To Buy Your Business
After spending several days talking to dozens of people who claim to have an interest in a business for sale; after answering the same dumb question for the millionth time; after discovering that a great majority of these so-called buyers lack either the money, the common sense, or enough business etiquette--maybe all three--to purchase the business in the first place, it is not surprising that many sellers start to burn out on the process.
Posted at 6:48am | 3 Comments
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Posted on May 7, 2009 Contributed by Peter Siegel
Tips For Getting A Vending Route Ready To Sell
The population of qualified buyers for small California businesses has grown dramatically over recent months, with corporate layoffs releasing thousands of business-savvy people with cash and borrowing resources into the market for companies they can buy and manage. A well-run organization with a history of profitability, in a business that doesn't require advanced university degrees to understand and operate, is exactly what these buyers want.
Posted at 8:29am | 3 Comments
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Posted on May 5, 2009 Contributed by Peter Siegel
Seller Training: An Overview About This Provision
Seller training from a business owner after a sale of a business can mean all the difference to a buyer and how successful the transition. This article by Peter Siegel of BizBen talks about different aspects of seller training after a small business has been sold.
Posted at 5:42am | 2 Comments
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Posted on April 20, 2009 Contributed by Peter Siegel
Earn Outs: Latest Feedback, Structuring An Earn Out
Questions regarding earn outs in deal structures is starting to come up a lot these days. "Answers To Viewers Questions" section of the BizBen Blog we explore answers to the question, "Is this a good time for buyers and sellers to use "earn outs" so if the business value has slipped because of the economy, the seller stands to gain when things get better, and the buyer can get a good business at today's discounted price, then pay for its recovered value from proceeds of the business? Also, how do you recommend structuring the earn out" See what our panel of professionals and viewer comments have said to answer this question about some mistakes buyers of small businesses make.
Posted at 9:30pm | 5 Comments
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Posted on April 14, 2009 Contributed by Jonathan Smith
Deal Pre-Qualification Before Selling A Business
In today’s ever changing financial markets it is now more important than ever to pre-qualify a listing long before you have a potential business buyer. Allowing a finance expert to review the business listing will not only help when you start speaking with prospective buyers but it will also help speed up the funding process.
Posted at 8:49pm | 4 Comments
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