Buyers & Sellers Need to Socialize to Make Deals Happen

Buyers & Sellers Need to Socialize to Make Deals Happen

It’s not uncommon to get more than one offer for your business – if you’ve hired the right broker to help you through the steps.  In a perfect world, these offers all come in at the same time.  But that’s usually not the case.  Your broker should continue to follow through on your marketing plan once an initial offer is received and encourage other good potential buyers to place an offer before it’s too late.  This helps to maximize the price. 

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You’ve received an offer to buy your business. Now what?

You’ve received an offer to buy your business.  Now what?

It’s not uncommon to get more than one offer for your business – if you’ve hired the right broker to help you through the steps.  In a perfect world, these offers all come in at the same time.  But that’s usually not the case.  Your broker should continue to follow through on your marketing plan once an initial offer is received and encourage other good potential buyers to place an offer before it’s too late.  This helps to maximize the price. 

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Sooner or later you will sell your business. What’s that like? Part 1

Sooner or later you will sell your business.  What’s that like?  Part 1

When was the last time you sold a business?  If you’re like most people, probably never.  It is not a common transaction like buying a home or a vehicle.  So, you can’t poll your friends for their insight because they probably haven’t done it.  You might not want to discuss it with your business peers either because of your concerns about confidentiality. 

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Know Your After-Sale Role

Know Your After-Sale Role

Letting go of a business that has been built on your hard work is never easy.  It’s natural to want to protect the legacy of a life’s work – the brand and the relationships with employees, suppliers, and customers.  It’s also not a cake walk for the new owner to be handed the keys and a wave goodbye.  There are many things a new owner needs to know in order to be successful at taking over the business.  Not all of these details can be addressed before closing the deal and that is why there is typically some form of a transition period with every business sale.

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Entrepreneurs Wanted: How Much Financing & Cash to be your Own Boss

Entrepreneurs Wanted: How Much Financing & Cash to be your Own Boss

Considering buying a business? Are you asking yourself, from where will I get the money?

There are two cash requirements to think about when you are considering buying a business.

  1. How much cash do you need for a down payment?

  2. How much cash is required to close the sale and start out on a sound financial footing?

These are two different uses for your cash, and you would be well advised to look at both carefully as you plan for the purchase of a business.

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Top 10 Things to Do if you Plan to Sell your Business in 2-5 Years

Top 10 Things to Do if you Plan to Sell your Business in 2-5 Years

When you’re preparing to sell your business, you need to take a step back and have an objective look at the company from an outsider’s perspective.  It’s important to start the “house cleaning” well in advance of the actual sale of your business.  Some of the things that should be done can take a long time to correct so if you want to get the most from the sale of your business, it’s best to start early. 

Here are the top things to tend to if you plan to start the process of selling your business in the next 2 to 5 years. 

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Earnout or Seller Financing: Which is better for your business sale?

Earnout or Seller Financing: Which is better for your business sale?

When structuring a business sale, a common problem that arises is a difference in opinion on the value of the business. It's important to recognize that the two parties are motivated by different information. Buyers are focused on past earnings and the operational risk in the business that will affect future earnings. Sellers typically focus on the company's recent historical performance, hoping to maximize their profit from the sale.

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Systems Create Value when Selling your Business

Systems Create Value when Selling your Business

It's important to have well-crafted, documented systems and procedures in place for your business well before the time comes to sell. Systems lessen the reliance on the owner for the business to operate successfully, which gives a potential buyer confidence that they can take over the role. This increases the marketability of your company, and can help achieve a higher price.

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4 Tips to Help you Sell Anything!

4 Tips to Help you Sell Anything!

Salespeople are in short supply in Saskatchewan so most business owners would love to know the secret recipe for increasing sales.  Deep down, though, you know that there are not 4 silver bullets just waiting for you to read them so your sales will go through the roof.  You know there’s a lot to making a sale – especially when buyers are tightening their belts.

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What does 2017 forecast for your business?

What does 2017 forecast for your business?

Welcome 2017

A lot happened in 2016 that affected your business and your customers. A weak mining sector, low oil prices, decreased construction activity, rising unemployment rates, declining housing market, a turbulent US election, and general market uncertainty surrounding the pending carbon tax.  This all made a difference to your local economy and the conditions that impact your customers.

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The Downside of DIY Business Deals

The Downside of DIY Business Deals

We are in an unprecedented era of specialization.  These days there are people to help in our businesses with hiring, cleaning or doing the books.  You can find someone to do almost anything to get your product out the door.  In George Clooney’s 2009 movie Up in the Air, Clooney played the part of a man who travelled across the country just to fire employees.  Remember when you used to do everything yourself?  As your business matures, you will find yourself doing a cost/benefit analysis of every hour of your time.  Consciously or not, you ask yourself, “If I do this, what am I not able to do?” or “What would it cost me to pay someone else to do this?”   We make a quick evaluation of the value of our time vs. the task at hand and decide whether or not we are the best person for the job – for the skills and the cost.

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Top 3 Reasons Deals Fall Apart

Top 3 Reasons Deals Fall Apart

“What just happened?”  Have you ever felt like the Coyote when the Roadrunner sped by and foiled the plan?  Many of our clients who have tried to sell their businesses on their own come to us after a deal that they thought was a sure thing has fallen apart.  These seasoned professionals have nurtured the deal and everything seems to be falling into place, and then, out of nowhere, the deal is off.

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