View all current blog posts, discussions and podcast sessions by ProIntermediaries and ProAdvisors on BizBen.com that are associated
with selling and buying Ski Shops 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.
Even without meaning to be dishonest, sellers or brokers talking to someone who wants to buy a small business often make statements that are not true. And sometimes what is said is known to be a lie. The buyer is smart to carefully evaluate what they hear - six untrue statements sometimes told.
To be successful in buying a small business you must be able to look objectively at the company and determine whether or not it is a business that will be able to grow into the future. The key to long term survival is when a business is able to change and grow along with the needs of their consumer.
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.
Knowing how to advertise a business for sale without revealing too much is an important skill for anyone who wants to find a buyer for a small or mid-sized California business at a good price. One caution about giving too much detail is that it might identify the company and ruin confidentiality.
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?
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.
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.
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.
Our BizBen Panel of Experts was consulted on a problem posed by a visitor to our site, who asked what to do about selling her flower shop, considering that she has a manager who is interested in buying it and would be good at running it, but lacks the funds to make that happen.
In this month's Business Buyer survey for BizBen.com, we asked participants in our ProBuy Program and 250 other random business buyers what they look for and avoid when looking at a business for sale postings online. Of the 20 potential posting characteristics we asked about, 8 stood out.
Only 30% of all small businesses for sale that are put on the market overall are sold! A surprising statistic to most business owners, agents, and brokers trying to sell a small business! If however you follow the strategies (BizBen Protocol Method) in this blog post you should see success!
If inventory is an asset of the small business, why is it treated differently from other assets in setting the business value and conducting the transaction? Tim Cunha, San Francisco Bay Area Business Broker explores this topic about how the inventory amount affects a business valuation.
Choosing a business broker to sell your business can be crucial to the success of it selling. A broker who you have an exclusive listing agreement with, which I recommend vs. open listing, will essentially be your partner during the listing term in getting your business sold. Joe Ranieri explains.
At What Point Do You Show Key Marketing Info And Materials To Buyers? Robb Hartman, Business Broker at BizBen discusses this topic with others on this BizBen Discussion.
Business buyers, brokers, owner/sellers all ask this question at some point. So I decided to ask some of the top Intermediaries in the 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.
There are a lot of misconceptions about what enhances the value of a business. The following factors in this Discussion are aspects of a business that really drives its value and pricing. A business owner asked me this question today so I wanted to get others view points as well in this Discussion.
When purchasing a small to mid-szied business, there are a multitude of things to evaluate. One area that is often overlooked is the business's culture. Peter Siegel, MBA with BizBen discusses with potential buyers the importance of understanding how the business runs on a day-to-day basis.
A couple newer brokers asked me today what thy thought the escrow process costs and if there is a large variation amongst escrow or closing companies when it comes to closing fees? Multiple ProIntermediaries and ProAdvisors discuss this topic on a BizBen Discussion.
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.
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.
Every business broker knows that a listing taken is not a listing sold, in fact the ratio of listed vs. sold could be discouraging if you really thought about it. Joe Ranieri (Orange County Business Broker) discusses what you should do if you finally have to close the doors and call it quits.
Should I Sell My Business During The Holidays Or Wait Till After The New Year? Business Broker Joe Ranieri and others chime in on this BizBen Discussion about selling a business during the Holiday Season.
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
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.
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.
Buying a business with a partner/partners, family members can make one think twice about ever doing it twice! However in this BizBen Discussion Post I chat with others about identifying roles, defining goals, attorney visits, and other relating issues.
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.
