In today's dynamic business landscape, buying a business franchise has emerged as a popular and promising option for aspiring entrepreneurs. It may offer the advantage of a proven business model, established brand recognition, and ongoing support.
Telling potential business buyers about unreported income could come back and bite you if not careful. It's best to be honest when dealing with business buyers but you should also highlight what's reported in the tax returns and what cash may be seen "between the lines".
When seeking large SBA business acquisition financing loans, it helps to review seller's add backs (cash flow analysis) as a source of funding to service the debt. Peter Siegel, MBA - SBALoanAdvisors.com Founder covers this specific topic for business buyers, owner/sellers, agents, business brokers.
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.
A business buyer in our ProBuy Program searching to buy a business asked me to sum up what I though the biggest mistakes business buyers make when they search for and bought a small business. I asked ProIntermediaries on BizBen their thoughts on the matter and received a diverse response.
What is your goal in 5 years? Do you want to become a business owner? Buying a business can be an exciting, safe opportunity to gain financial freedom. But how to buy the right business? This article will walk you through the process of buying a business.
Selling a small to mid-sized business in can be a difficult process for owners and intermediaries. Statistics show that over 70% of all owner / sellers never end up selling their small to mid-sized business. That is why we initiated the BizBen ProSell Program for business owners & intermediaries.
It is not uncommon for business Owner/Sellers to get uncomfortable when a potential Buyer requires a SBA loan to purchase the Seller's business. Often times Owner/Sellers will say "the Buyer is the one getting the loan; why am I the one under the microscope?" This blog post addresses this topic.
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.
There are companies who specialize in purchasing Business Notes (of course at a discount). You can sell all or part of your note. Peter Siegel, MBA BizBen Founder and ProBuy & ProSell Lead discusses this entire process in his latest article on selling your business note after you sell your business.
The use of add backs & sellers discretionary cash is common among sellers of businesses when showing their financial information & explaining that the buyer will actually enjoy more profit than is shown. But buyers are cautioned to review documents closely. Peter Siegel, MBA with BizBen explains.
A question sellers ask: how do I sell my business without getting sued, isn't a subject just for discussions with lawyers. A seller can take some precautions to reduce potential legal problems. Peter Siegel, MBA Founder Of BizBen and BizBen.com's ProBuy and ProSell Programs discusses this topic.
Owners should keep the fact that they want to sell their small business confidential. Before releasing information to prospective buyers, buyers should commit to confidentiality in writing & should understand why it is important. Peter Siegel, MBA a ProBuy and ProSell Advisor with BizBen explains.
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.
Before you buy a dry cleaners small business, read these critical tips about this industry. Discover why a dry cleaner needs to be "green" to be profitable. Peter Siegel, MBA (BizBen ProBuy, ProSell Program Advisor) explores this topic and other helpful strategies on buying a dry cleaning store.
Most people who think they want to buy a gas station don't realize that finding the right business to own in this industry and determining its fair price pose more complex problems than buying a fast food franchise, retail store or most types of businesses. There are many variables to consider.
Since most people who want to acquire a business for sale spend their time and energy responding to ads, it's no wonder that a majority never find a company they want to buy. Meanwhile, proactive buyers "push" their requirements and qualifications to purchase, and attract owners ready to sell.
Some California entrepreneurs think they might like to buy a vending business but have heard negative things about the industry and aren't aware of important facts about this business. Here are some tips from BizBen's Peter Siegel on what to look for in buying a California vending business for sale.
The idea to buy a business with seller financing is clearly understood by most people whose career move is to purchase their own company. But not everyone knows how to structure a deal with the seller carrying back part of the price. Be prepared for three situations when negotiating your purchase.
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.
In this month's Business Buyer survey for BizBen.com, we asked participants in our ProBuy Program and 250 other random business buyers what they look for and avoid when looking at a business for sale postings online. Of the 20 potential posting characteristics we asked about, 8 stood out.
First the dreaded statistic: 80% of all business buyers looking to buy a small business never end up doing so! Peter Siegel, MBA BizBen.com Founder & ProBuy Director) covers successful tactics & strategies all business buyers of small to mid-sized businesses should utilize now to buy a business.
SBA large loan expert and advisor Peter Siegel, MBA (BizBen.com & SBALoanAdvisors.com Founder) shares his views and experience for getting the right SBA loan for larger deals, getting deals professionally prequalified & analyzed, and getting that loan through underwriting with fewer complications!
There are many myths associated with the process of selling a small business and some of them can actually cause deals to fall through. Don't let your sale be compromised, be aware of these common misconceptions related to the process of selling. Peter Siegel, MBA with BizBen explores this topic.
The idea to have a buying a business checklist follows the adage that it's always useful to start with a plan when searching to buy a small business for sale. Peter Siegel, MBA Founder of BizBen.com and top advisor of the BizBen ProBuy Program suggests six items for all business buyers to utilize.
The key to finding the ideal business broker or agent and selling a small business is asking the right questions and getting the right answers back! Peter Siegel, MBA with BizBen & several top business brokers and agents in California (ProIntermediaries) contribute to this topic to assist sellers.
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.
Don't confuse a business opportunity with a going business for sale. In the broadest sense, an existing business being offered on the market is sometimes called a business opportunity. But for a buyer's purposes, seeking to invest in a business to own and operate, there are important differences.