Approaching business owners directly to see if they want to sell can sometimes work well for business buyers searching to buy a small business. Another way is to broadcast your search criteria via the BizBen ProBuy Program to all brokers, agents, and intermediaries who are selling a small business.
Looking to buy a small business? There is good news regarding business purchase financing. More financial institutions are coming back into the market with business purchase financing. After years of being selective many lenders are more open to financing deals they would not have in the past years.
Buying a coin laundry like other types of small business purchases has its nuances. Chuck Post a laundry specialist specializing in assisting those selling and buying coin laundries shares his knowledge with coin laundry buyers and what to watch out for when searching for and buying laundromats.
Owners often ask agents to sell business offerings for them. It's usually more difficult than selling houses when working to find a buyer for a business, to satisfy contingencies and close escrow. Business sales intermediaries either agents or brokers may want large fees, but often are worth it.
7-Eleven franchises are one of the biggest names in the convenience store industry. Established in 1927, there are now more than 8,500 7-Eleven franchises across the U.S. & Canada giving them a substantial portion of market share. So with so many locations, is a 7-Eleven franchise a good investment?
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.
Selling a business online, while often effective for finding the right buyer, is a strategy sellers need to execute correctly in order to be successful. That means avoiding the six common mistakes made by sellers. Peter Siegel, BizBen Founder talks about what it takes to effectively sell a business.
The coin laundry industry is nearly 50 years old and most laundries are operated by individual owners. Mike Hurrell with Golden State Laundry Systems discusses how to buy a coin laundry. Topics include financing a coin laundry, what to look for, what types of laundries are available in Southern CA.
In my experience working with the "right banks and financial institutions" repayment ability sometimes overrules collateral pledged by someone needing financing for a business purchase or a down payment. Peter Siegel, MBA - BizBen's ProBuy, ProSell Lead Facilitator explores this important topic.
A BizBen blog reader emailed me this question: "I am starting due diligence this week on buying a cocktail bar With a 48 license what should I be asking for, thinking about, watching out for? Is there a list of items I should ask for?" Peter Siegel with BizBen answers this question.
Determining the right time to sell a private business is as much an art as a science, because there are so many factors at play and each business is unique. The timing of a business sale is critical. Christina Lazuric, CBI, Orange County Business Broker discusses this topic on this BizBen Blog post.
Nothing can be more exciting, and a little daunting for a new owner than finally being handed over the keys to their newly owned restaurant. Many buyers, especially those who have never been business owners before are much too eager to make the restaurant "their own". Overspending can take place.
Despite challenges in the business for sale marketplace, some of the brokers who make a living by facilitating a deal between buyer and seller are known to stand in the way of a completed transaction because of some outdated ideas. Too bad they put greed ahead of the needs of their clients.
Looking to buy a California gas station? Consider these five questions first before buying a gas station, saving lots of money & headaches. Peter Siegel, MBA and Founder of BizBen.com and BizBen's Top Advisor for the BizBen ProBuy and ProSell Programs discusses this topic of buying CA gas stations.
Owning your own laundry business can be the most rewarding adventures one can take professionally. But for some it is a nightmare. The most common reason for this is poor awareness & poor preparation. Chuck Post, Laundry Consultant For Sellers & Buyers chats about the process of buying a laundry.
Peter Siegel, MBA - BizBen.com & SBALoanAdvisors.com Founder discusses the difference between a hands on owner and an absentee owner. It covers why someone would want to be an absentee owner and then goes on to discuss the pros and cons of buying an absentee run small to mid-sized business.
Peter Siegel, MBA discusses buyers who want to buy a business or franchise know about asking the seller to provide part of the financing with a carry-back note. Many business buyers need some cash to help fund the down payment and for working capital. Here are four ideas about how to get that money.
Lee Petsas, a Southern California business broker addresses how he handles potential business buyers when they request information on a business for sale listing. He gives his strategies and tips for handling and directing business buyer inquiries.
Laundromats and coin operated Laundromats are popular choices among business buyers as they often can be successfully run as an absentee run business. You need to be strategic about when you sell your Laundromat so you don't get taken to the cleaners by a buyer and so that you maximize your profits.
Selling a business is hard enough but using the wrong word, text, and strategy can really delay or outright kill a campaign to sell a small business successfully. Peter Siegel, MBA Founder of BizBen.com shares what words, phrases, and strategies work (and not) when selling a small business online.
In my opinion and experience, an LOI may very well be appropriate for lower middle market transactions of $5,000,000 or more; but, for deals less than that an Asset Purchase Agreement ("APA") with contingencies on the actions of the buyer (and seller) is much more efficient and effective.
Buying a liquor store? First, ask yourself these three critical questions to find out if owning a liquor store is right for you. Questions like hands on vs absentee ownership, inventory turnover, licensing issues. Peter Siegel, MBA (BizBen ProBuy & ProSell Program Lead Advisor) explores this topic.
80% of all California business buyers never end up buying a business! Many factors contribute to this statistic, but by following the points below and utilizing the ProBuy Method of buying a business you should be successful in locating a business that interests you and completing the transaction!
The coin laundry is an all-cash, necessity of life service business. What could be better? Yet, understanding how the business justifies such a high purchase price is baffling. In fact, many times the value is so misunderstood that it results in investors over-paying. Sometimes grossly over-paying.
There are several things to consider when placing a value on a preschool. Businesses that are regarded as leading preschools in their area can go for premium prices so know what you have so a potential buyer can't take advantage of your lack of knowledge. Peter Siegel with BizBen.com explains.
Demonstrating sufficient cash flow to cover a business acquisition loan is key to getting a lender's approval. But buyer must be knowledgeable. Support a business acquisition loan with the target company's cash flow. And know how to determine the actual cash flow amount. Peter Siegel, MBA explains.
Any deal when selling a business tends to have a life of its own. Joe Ranieri discusses a restaurant deal in Orange County that has had many twists and turns. This article shows what types of issues can and do come up when selling a business or in this case a restaurant.