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Hardware Store Interview With The Owner/Seller: Selling A Business Tips



Peter Siegel, MBA chats with hardware lumber store owner about the sale of her Southern California small business.

This store is 2nd generation owned & operated, "high volume-essential hardware/lumber store", since 1974, Commitment to excellent customer service, an extensive range of high quality products to include: lumber, doors, plumbing, paint, lawn and garden, tools and hardware. Great records. Growing. Inventory $1.1M+.

Issues And Questions Discussed In This Podcast Session Include:

As the owner what is your day like? What functions do you perform? How many hours per week do you work?

Is the business seasonal? What times of the year are busy, what times are slower?

Is the sale of your business confidential? Do your employees know it's for sale?

Do you have a concentration of accounts - do 1 or 2 clients comprise more than 30% of annual revenues?

How many employees do you currently have?

Are you selling the real estate with the business or are you leasing? What are the terms?

Why are you selling? What is your time frame for selling?

What experiences have you had with business brokers? agents?

What do you wish business buyers would do differently, now that you’ve dealt with some?

How did you come up with your asking price?

What is the deal structure? How did you come up with the deal structure?

Is there inventory that comes with the business?

Have you been pre-qualified for SBA financing on the sell side?

Who is the ideal buyer for your business? Why? What characteristics would make a good buyer/future owner?

What could a new buyer do to increase business? Make it better?

Does your business need any special licenses to operate? Contractors, Liquor License? Medical?

To see this actual ProSell Posting on BizBen and read more information about this business (and real estate) for sale go to:

BizBen Posting 263599 Southern California Hardware Store With Real Estate For Sale

We hope you enjoyed this podcast session. Please listen and subscribe to all upcoming podcast sessions on BizBen.com

Categories: Business Broker Information, Deal And Escrow Issues, General Info, How To Sell A Business, Selling A Business, Small Business Financing

Contributor:

Peter Siegel, MBA
Areas Served: Nationwide - All Areas
Phone:  925-785-3118 Cell, 925-785-3118 Text
Peter Siegel, MBA - Founder Of BizBen.com (since 1994), I am the Lead Advisor for the ProSell, ProBuy, & ProIntermediary Programs. I advise/coach buyers, sellers, and brokers daily about buying & selling small to mid-sized businesses throughout the Nation. I can be reached direct at 925-785-3118.