View all current blog posts, discussions and podcast sessions by ProIntermediaries and ProAdvisors on BizBen.com that are associated
with selling and buying Electrician Services small businesses throughout the USA. Thanks.
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.
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.
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.
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 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.
Would you like to know what your business is worth? What's more, what it could be worth with a small amount of effort and investment? Business brokers have a variety of methods to determine value. Tim Cunha, JD a SF Bay Area Business Broker discusses his answers to this question about valuation.
If you are planning to offer your small business for sale, you ought to learn about your chances of succeeding. The probability of making a sale depends largely on which of seven seller types describes you. Use this self-test to find out what kind of seller you are and determine if you'll succeed.
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.
The first broker I ever worked for said, "Every deal you have will die at least 5 times before it closes. How you handle that, will determine whether you can survive doing this for a living." As I enter my 11th year doing this, I still smile at that memory because it is as true today as it was then.
When selling and buying a business, it is almost always necessary to allocate the purchase price to various categories of assets for tax and accounting purposes, whether this is a transfer of all the assets of the business or an actual stock sale of the business entity. Broker Tim Cunha explains.
When selling your small business, offering seller financing is a great way to help your business standout from others on the market and it is also a good strategy to consider that can help you close a sale. If you plan to offer seller financing there are a number of things you need to know.
Most business acquisition financing strategies involve borrowing money to meet the purchase price. But an entirely different approach, equity sharing, is sometimes pursued if borrowed money is not wanted, or is not available to complete the purchase. Peter Siegel, MBA - BizBen.com covers this topic.
Selling or buying a small to mid-sized business is serious business so BizBen took a recent survey about three groups important to the process of buying/selling a business: small business owners/sellers, business buyers, and business brokers & agents.
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.
Sometimes business brokers just can't win with their clients, because if an offer comes in too fast & too early then they must have lowballed the price & the seller is suspicious, and if not enough offers come in after putting the business on the market - they may look unproductive to their clients.
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
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.
As the year winds down, it's tempting for business brokers to go through their old files and throw them out to make room for new client's folders, but that would be foolish. Joe Ranieri (Orange County Business broker) discusses strategies for saving files - a key annual strategy for brokers/agents.
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.
When considering buying a business that is losing money one has to be very careful. There are reasons that the business could be losing money that aren't fatal or extremely difficult to fix and there are other reasons that should send you running in the other direction. Peter Siegel, MBA explains.
Buying a small business is hard enough when there is no competition, so how might a buyer navigate the process when there is additional competition from other buyers? Peter Siegel, MBA (BizBen ProBuy Program) and others explain a few of the ways that a buyer can beat out other buyers.
Applying for a business acquisition loan can be challenging for someone who hasn't been through that process in the past. If one has a mortgage one knows that the value of the property being pledged has to at least equal the amount of the loan, SBA loans to buy a small business are very different.
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.
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.
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.
When seeking SBA loan financing many potential business buyers have wrong information about the process of securing the best financing to buy a business. Peter Siegel, MBA a business purchase financing expert delves into the myths regarding SBA financing and business purchase financing.
It's important to remember that selling a business takes time. Unlike selling a house, which can be sold relatively fast, a business can take up to six months to a year to sell. I discuss this topic with other advisors and intermediaries on this BizBen Discussion.
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!
