Bakeries service all occasions from weddings, birthdays, retirement, and a whole host of other special occasions. Many bakeries do a brisk retail business, but really make their money in catering. Joe Ranieri a Southern California Business Broker looks at the top tips when trying to sell a bakery.
Californians love coffee, and many will find a way to get their "fix" though out the day. Many opt for convenience when getting their coffee, and when they are unable to make a coffee run, they will buy from a coffee cart. Joe Ranieri discusses all items related how to buy a coffee cart business.
The process for making a liquor license transfer used to take approximately 55-70 days, but now because of labor shortages and work protocols, it can be up to 3 months in California, for example. The longer an escrow is open, the greater the chance of having it fall out of escrow.
Only 30% of all small businesses for sale that are put on the market overall are sold! A surprising statistic to most business owners, agents, and brokers trying to sell a small business! If however you follow the strategies (BizBen Protocol Method) in this blog post you should see success!
As an Advisor On BizBen I talk to many California business owners, business buyers, brokers, and agents on a daily basis about valuing California small to mid-sized businesses. Many key factors go into this analysis including market demand, history of earnings, and even how the deal is structured.
One of the most difficult challenges when purchasing a small business is expressed by this prospective buyer of a liquor store who is told by the seller that there is more money being made than shows up on the books. Should the buyer accept that statement by the seller & go ahead with the purchase?
Even without meaning to be dishonest, sellers or brokers talking to someone who wants to buy a small business often make statements that are not true. And sometimes what is said is known to be a lie. The buyer is smart to carefully evaluate what they hear - six untrue statements sometimes told.
Buyers search for an absentee business, wanting to collect profits generated by a successful enterprise without having to stand at the sales counter or cash register, without having to cook, operate equipment or talk to customers. Peter Siegel, MBA offers his intake on absentee run businesses.
The laundry business model and the full justification of value of the business are based on its anticipated longevity. In this blog/article, laundry industry consultant and specialist Chuck Post covers the topic of coin laundry valuations.
Being an Entrepreneur has its perks, it can also be challenging. You need to make sure you're ready for the challenge. Here's a list of 10 important questions to get you started when buying a business. Peter Siegel, MBA (BizBen Founder) reviews this topic for business buyers of small businesses.
The unfortunate truth is that approximately 50% of all small business sales transactions fall through. While failed transactions can happen for a variety of reasons, Peter Siegel, MBA (BizBen Founder & Lead Advisor) discusses the most common reason deals fall through; unrealistic asking prices.
Laundry buyers and investors should expect both challenging times and opportunities for success in 2022 and 2023. Chuck Post, Laundry Industry Advisor explores growth opportunities, equipment advances, industry challenges and trends all laundromat buyers and investors should know about.
You've found your dream business. You've called/emailed/texted the broker or owner; you've tried to reach out again via phone/email/text. However you're not getting a response and it's getting frustrating. How to get brokers/owners to return your calls/emails/texts - what key strategies to utilize.
One of the most popular business searches (and eventual business purchase) on BizBen is the self serve and full service car wash. Peter Siegel, MBA (ProBuy & ProSell Programs Director) with BizBen.com reflects on three types of car wash models and what buyers should look for in a car wash purchase.
Entrepreneurs who think they want to buy a towing business need to have some idea of what to look for when examining businesses for sale in this industry. The assets, including tow trucks and perhaps the property where towed vehicles are stored, determine much of the value of this kind of company.
Using an earn out can benefit both buyer & seller of a business purchase. A recent question by a buyer in the BizBen ProBuy Program about the best way to structure a business earn out prompted me to ask a panel of BizBen Resources how they would deal with the buyers question on earn out structures.
For starters, a pop-up restaurant is a short-lived dining experience in a temporary location, most found in abandoned factories or warehouses, rooftops, barns, or an already existing restaurant location, so basically anywhere done legally and safely. They exist for a few days, weeks or a few months.
You have a strong entrepreneurial spirit. You know you want to be a small business owner. Now what? Do you buy an existing business or start one from scratch? An existing business can save a lot of time and effort. I will share with you some of the advantages of buying an existing business.
Showing your business when selling is one of the most important steps in the sale process & how it is done will greatly affect the selling price. There are two areas to be concerned with, how the business looks & how you react to the prospective buyer.
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. Peter Siegel With BizBen.com explores this issue.
Often business buyers actions cause a deal to tank but they never know why. Peter Siegel with the BizBen ProBuy Program discusses what mistakes business buyers make in the search process to buy a business with some of the best business brokers and recent sellers on BizBen about this topic.
Read why longer leases increase the value of a card or coin laundromat when buying or selling a laundry. Chuck Post (Laundry Advisor, Consultant at 619-227-5711) expands on the topic of lease structures on the purchase or selling of a laundromat. He also discusses tips on working with landlords.
Coin operated laundry for sale (also referred to as a laundromat), which typically can yield a 20% to 30% profit (before taxes, interest, depreciation and amortization) on gross revenues to the owner. Peter Siegel, MBA with BizBen.com discusses this topic on buying small to mid-sized laundromats.
In The New Economy that we are buying and selling and businesses in, finding funding can be the most challenging part of a sale. Many buyers will have limited funding and need to finance a good portion of the sale but what happens when a buyer has NO money? Peter Siegel with BizBen explains how.
Throughout the recession, it was very difficult to get approved for business purchase financing. If you are considering incorporating some alternative funding sources in your next small business acquisition, here is what you need to know to protect yourself and your investment.
When selling your small business, offering seller financing is a great way to help your business standout from others on the market and it is also a good strategy to consider that can help you close a sale. If you plan to offer seller financing there are a number of things you need to know.
Fees charged borrowers of SBA-backed loans to purchase or to expand small businesses will continue to be waived or reduced through the next fiscal year. The benefits were set to expire at the end of last month. SBA administrator says the move helps to support underserved small business communities.
Buying a food truck is an option to consider if you want to get into the food service business. With food trucks growing in popularity, they are quickly becoming a viable alternative to buying a traditional brick and mortar restaurant and using it as a vehicle to get your food out to the masses.