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Each day, more than 10,000 Baby Boomers turn 62. Around this age, Americans, many of which are small business owners, start to think about their exit strategy from the workforce. For a small business owner, the process can be complex and their decision to retire has an impact on many others.

When selling a California business, owners should use our salability checklist to determine whether the effort will be successful. Ten factors must be considered to properly prepare a business for sale. Three of the factors account for more than 50% probability of achieving success in selling!

A business buyer in the BizBen ProBuy Program asks how to handle the inventory amount in the purchase price of a business. Other questions answered in this article: Do you add the inventory value to the business value? Should the owner be expected to take back a note for the value of the inventory?

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.

To understand the pros and cons of diverting funds from your retirement funds towards the purchase of a business, it is first necessary to brush up on some investment basics. Before approaching the issue of using retirement funds to buy a business, let's take a quick look at stocks and bonds.

When buying a business you may also have the option to buy the building it occupies. There are advantages and disadvantages to owning commercial property. In order to determine whether or not you should buy the property that comes with a business purchase, here are a few questions to ask yourself.

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.

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.

Peter Siegel, MBA - Lead Advisor with the BizBen.com ProSell Program discusses critical steps to prepare a small to mid-sized business including: which documents will be needed, key advisors to have involved, pricing the business, and how to attract the right business buyers to your listing.

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.

A micro business is a type of small business that typically has fewer than five employees or as many as ten. It is often a one-person operation or a very small team, and it operates on a small scale.

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.

To receive the fullest exposure for selling their business, small business owner/sellers should make sure their listing broker or agent is co-operating with other business brokers and agents on their deal. Christina Lazuric a Orange County business broker discusses this topic with BizBen Users.

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!

What are some ways a broker can prevent a buyer and seller from doing a deal behind their back and what to do about it if it happens? Joe Ranieri (Orange County Business Broker) discusses ways a business broker or agent can protect themselves from buyers and sellers trying to circumvent them.

Can a seller of a small business back out of an ongoing escrow? Probably, yes, it all depends how far along the escrow is, which will dictate how messy things will get for both owner & buyer. Joe Ranieri (Southern California Business Broker) gives his feedback with others on this BizBen Discussion.

I often get asked by owners who are looking to sell their business about what type of buyers they should expect to encounter during the sales process. The answer depends on the type of business being sold, but in general there are several different types of buyers that could be encountered.

We're hearing more and more about "crowd funding" through sites like gofundme and kickstarter as a possible way to raise the cash needed to buy a small business. This method of collecting funds has proven successful in other kinds of situations. Could this strategy work when buying a small business?

50% of all California small business for sale transactions fail to complete. Why do businesses for sale fall out of escrow? Joel Miller (a senior care business specialist) discusses his 5 top reason why businesses fall out escrow along with other brokers, advisors on this BizBen Discussion.

Was just asked the question from a business owner what the "typical commission" amount is for a broker and if upfront fees are common? Thought this might be a great Discussion topic on BizBen for both business owner/sellers and potentially for business buyers (buyer representation).

It can take months, sometimes longer to sell a small business. Here are 6 questions plus other information from myself plus other BizBen Users to ask yourself to help you determine why your small to mid-sized California business isn't selling. You might be surprised what those reasons are!

For those who don't know, a non-compete agreement is a contract between a buyer and seller of a business, which after the sale, prohibits the seller from engaging in direct competition with the business they previously sold. Joe Ranieri (Business Broker) adds this topic to a BizBen Discussion Post.

We all understand the idea of paying too much for a small business. But is there such a thing as not paying enough? That seems like an odd notion, but I'm familiar with situations in which a buyer acquired a small business for a figure substantially under what probably was market value.

A huge part of any exit strategy is properly planning for that moment in time when employees find out the business is for sale or, preferably, has been sold. Your workers have been kept in the dark for as long as possible. Some won't be a bit surprised. Others may be devastated.

What are the Pros & Cons of selling a business yourself? I get asked this question all the time and would like to share with other Intermediaries on BizBen all the angles of business owners taking the initiative and selling their own business.

Many factors determine whether inventory is included in the asking price. Among them are: the standard for that particular industry or type of business, the quality and age of the inventory, whether the inventory levels are cyclical, whether the inventory is the normal amount, etc. BizBen Discussion

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.

What qualities should you look for in a escrow and bulk sale service when buying/selling a business? I often get asked this question by other brokers and business sellers. See what I tell others and what other BizBen Advisors have to say on this topic in this Discussion.