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June 2021 Trends & Predictions: BizBen.com Monthly Report

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   In our BizBen.com June 2021 Monthly Report the top ProIntermediaries and ProAdvisors on BizBen offer their thoughts about the current status of the business for sale marketplace with trends and predictions for Business Buyers, Owner/Sellers, Business Brokers, Agents, Advisors in the near future.
How Much Should I Expect To Make From A Car Wash Business?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   This is a hard question to answer specifically without any knowledge of the business. What kind of car wash it is (auto, self-serve, or full service)?, How many bays does the car wash have? Is there any other streams of revenue? We discuss this topic regarding car washes on this BizBen Discussion.
Pocket Listings - Vast Hidden Market Or Myth With Buyers And Sellers?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   What percentage of businesses for sale that are advertised and/or sold are pocket listings? What is the best way to find out about pocket listings? Are they advertised? Are they a big part of the businesses sold marketplace? In this Discussion ProIntermediaries and ProAdvisors discuss this topic.
Buying A Gas Station: What To Look For When Doing Due Diligence

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Doing due diligence when buying any type of business is extremely important. Regardless of what type of business you are buying there are certain things you will always look at such as, financials, equipment, legal issues etc. We take a look at several angles for optimal gas station due diligence.
Selecting A Business Broker To Sell My Business: What Should I Look For?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   What should your business broker do for you to successfully sell your small to mid-sized business? Well, there's many things that a qualified business broker can and should be doing for you. Multiple ProIntermediaries and ProAdvisors give suggestions and tips to sellers in this BizBen Discussion.
As A Business Buyer What Questions Should I Ask The Seller?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Asking the seller straightforward questions and getting straightforward answers in return is an important part of the buying and due diligence process. In this Discussion, both ProIntermediaries and Advisors offer thorough questions you should be asking during your meeting with a business seller.
Should Sellers Of Small Businesses Give Potential Buyers Their Tax Returns?

Posted By: Joe Ranieri, Business Broker: LA, Orange Counties, California.   Should small business owners/sellers or brokers/agents give potential buyers direct access to past company tax returns and financials (profit & loss statements) either before or pre the due diligence process? Multiple ProIntermediaries and ProAdvisors discuss this topic on this BizBen Discussion.
What Are Some Possible Reasons Why My Broker Didn't Sell My Business?

Posted By: Joe Ranieri, Business Broker: LA, Orange Counties, California.   What are some reasons a business that was previously on the market with another broker didn't sell? Every broker or agent understands that not every business they list will result in a sale. There can be many reasons small businesses don't sell and many are discussed on this BizBen Discussion post.
Buying A Self-Serve Car Wash Business: What Should My Expectations Be?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Before purchasing a car wash (quick serve or full serve) you must understand that the industry as a whole will provide you with plenty of competition. More importantly, depending on what your interests are, you will identify what type of car wash you want. We discuss this all in this Discussion.
Why Is A Small Business Sale Kept Confidential? How Is That Done?

Posted By: Timothy Cunha JD, Business Broker: San Francisco Bay Area.   Recently a business owner asked me on the phone, "Why do you keep the sale of a business confidential? How do you keep the sale confidential - any good tips?" Would like to hear from other Members - what would be your answer to this business owner? ProIntermediaries on BizBen discuss this topic.
What Do I Need To Disclose To A Prospective Buyer Of My Business?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   When selling a small business you always run the risk of a lawsuit. They aren't as common as one may think in this litigious world in which we live in, but whenever there is money exchanging hands & attorneys involved the stage is set for a lawsuit. Various ProIntermediaries share their viewpoints.
Does Curb Appeal Really Help Sell A Business?

Posted By: Timothy Cunha JD, Business Broker: San Francisco Bay Area.   This post is essential reading for any prospective business seller. Curb appeal is critically important, not just to the amount of the final sale price, but also to whether there will be a sale at all. Top ProIntermediaries and ProAdvisors discuss this valuable topic on this BizBen.com Discussion.
Are Home Healthcare Businesses Good Investments? Future Growth?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   A business buyer asks about the viability and purchase of a home health care service and about the future of this industry - Peter Siegel, MBA takes on this question with other ProIntermediaries & Advisors on BizBen regarding the home health care industry and it's future for potential buyers.
Seller Doesn't Have Recent Financial Figures: What Should I Do?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   The owner selling the business doesn't have recent financial information or documentation but insists revenues are increasing. Should buyers believe the seller? What should buyers do in this situation? ProIntermediaries on BizBen answer the question of verifying seller / owner's financial claims.
I am Selling A Small Business - How Do I Qualify Potential Buyers?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Being prepared when potential buyers contact you about your business for sale is a good idea. Too many sellers (and brokers) are unprepared & miss good opportunities or get involved with unqualified buyers. This Discussion post and answers from ProIntermediaries on BizBen assist with this issue.
Brokers Not Returning My Calls: How Do I Get Them To Call Back?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   There can be many reasons why Brokers take awhile to get back to potential Buyer & to other Brokers and Agents if they are cooperating on the listing. Broker's reasons include: unprofessionalism, too busy, the listing is no longer available, the buyer doesn't sound viable, etc. We discuss them all.
Is There Such A Thing As A Buyers Broker Or Representative?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Can business buyers actually get full representation from a broker? With 70% of all California brokers not cooperating with each other it may be a good idea to have someone on your side representing your interests. Is buyer representation a reality? ProIntermediaries discuss this topic on BizBen.
Buying A Liquor Store - When Do I Perform The Inventory Count?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   The only time to get an exact and accurate inventory count, and valuation, is at the time the business is being transferred. To do so beforehand, would mean that any merchandise sold after inventory is taken, but before close of escrow - Peter Siegel, MBA with BizBen & others discuss this topic.
Should A Buyer Be Allowed To Operate A Business Before Escrow Closes?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Business buyers, brokers, owner/sellers all ask this question at some point. So I decided to ask some of the top Intermediaries in the California marketplace what they thought of the idea. Most of the ProIntermediaries on BizBen agreed with me on taking early possession before the close of escrow.
What Info Should Be Included In A Non Disclosure Agreement?

Posted By: Timothy Cunha JD, Business Broker: San Francisco Bay Area.   Just had a discussion with a owner/seller about non-disclosure agreements and confidentiality agreements when selling a business. Here was her question: "I am selling my business and I have heard I should have potential buyers sign a NDA. What items of information should I have on my NDA?"

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Buying A Car Wash Small Business Buying A Self-Serve Car Wash Business: What Should My Expectations Be?

Before purchasing a car wash (quick serve or full serve) you must understand that the industry as a whole will provide you with plenty of competition. More importantly, depending on what your interests are, you will identify what type of car wash you want. We discuss this all in this Discussion.
Keeping A Business Sale Confidential Why Is A Small Business Sale Kept Confidential? Advisors Discuss This Topic

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Appealing To Restaurant Buyers During COVID Tips On Selling A Restaurant: Appealing To Restaurant Buyers During COVID-19

ProIntermediary, Joe Ranieri (Business Broker) shares what buyers are looking for in this unprecedented market. COVID-19 has made curb appeal more important than ever when selling a restaurant. Sellers still have the power to attract buyers in this market with focus of a few key requirements.
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Buying A Health Club Successfully Working Out A Deal: Things To Consider When Buying A Boutique Fitness Gym

First thing you may be asking, what is a boutique gym? Simple, a boutique fitness gym is on average much smaller than your typical large-scale gym, ranging from 800 to 2,500 sq ft. In this BizBen blog post, Joe Ranieri (Southern California Business Broker) discusses this topic for gym buyers.
Buying An Absentee Small Business The Pros And Cons Of Buying An Absentee Run Small Business In California

Peter Siegel, MBA - BizBen 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 business in the California marketplace.
Buying A Business Without Financials Business Seller Doesn't Have Recent Financial Figures: What Should I Do?

The owner selling the business doesn't have recent financial information or documentation but insists revenues are increasing. Should buyers believe the seller? What should buyers do in this situation? ProIntermediaries on BizBen answer the question of verifying seller/owner's financial claims.
Business Brokerage Questionable Practices Sellers: Watch For These Business Broker Questionable Practices

Lee Petsas (Southern California Business Broker) shares his concerns regarding some questionable business practices by some California Business Brokers lately. Other Business Brokers and Advisors weigh in as well on this BizBen Blog post with other "dirty tricks" they have observed and heard about.
Business Buyers Biggest Mistakes What Are Buyers Biggest Mistakes? The Pro's Examine 25 Of The Most Common

A business buyer in our ProBuy Program searching to buy a small business asked me to sum up what I thought 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.