Most retiring business owners expect that their financial needs will be met when they sell their companies.
Unfortunately, that is not always the case. Business owners should have a business valuation performed by an independent professional and then create an “Exit Plan” to close the value gap if one exists.
Click here for a brief MSNBC video on preparing to leave your business.
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“I had the pleasure of working with Suzanne De Lucia in both purchasing and selling my business. Suzanne is an individual who made decisions based on solid facts and amazing expertise in her profession. Suzanne clearly knows how to structure a deal that is beneficial to both parties with the highest of integrity. I am honored to recommend Suzanne.”
“Top Qualities: Great Results, Expert, Good Value.”
Janice Charles
Owner
Rocky Mountain Popcorn Company
“This sale would not have been realized if Thom Beckett was not in the captain’s chair.”
Mark Wimberly
Owner
Pioneer Sports
“Thank you for helping me make one of the most important transitions in my life. The pace and smoothness of the sale were unprecedented.“
Josh Child
Owner
Summit Landscaping
Many businesses are going through very tough times with no end in sight.
But as we know, as bad a situation as people may be in, it can always be worse – much worse. Business owners have to be strong, optimistic and provide leadership in these difficult times. They also need to seek good advice and make smart decisions to keep their businesses surviving until things improve.
Or in some cases, they might have to consider selling their company before the situation gets even worse.
“The element of efficiency comes to mind when conducting business through Front Range Business, Inc. My company, Royal Merchandising, searched out an inspiring company in which to conduct business with and we found it with Matt Williams’ help. All of my questions were answered thoroughly. I have the utmost admiration for large corporations that take the time and effort to support, promote and encourage small companies to expand.”
“The experience has been gratifying to say the least. The service provided has been refreshingly cooperative, sincere and most satisfying. I look forward to purchasing our second, third and fourth franchise in the […]
Many business owners have operated their companies for too long and have lost their interest or drive.
As a result, the business can flounder and stop growing. Not only do revenues and profits suffer, but the value of the company goes downhill. And it only gets worse in a down economy.
When a business owner hits burnout, he or she must learn how to deal with it – click here to read an article – or take steps to sell the company.
The most popular method of valuing a business uses a multiple of earnings over a period of years.
Business owners should be aware of that while attempting to reduce the bottom line with personal expenses to minimize taxes. Though there are a number of deductions that may be added back to determine true cash flow, not all add-backs are considered legitimate by buyers or lenders.
Being too aggressive in minimizing taxes today may cost a business owner big dollars at closing. Click here for an article […]
Unfortunately, there are businesses whose market has changed so drastically that their products or services now have limited demand. And it might not be the slow economy!
Those business owners may have to consider a whole new business model and get into the research and creative thinking mode. A good starting point is searching for ideas on the internet.
Click here to see a video on Re-Inventing Your Business Model from the Harvard Business Review – it will make you think.
The title to the 1969 song by the Rolling Stones seems to echo what the market is telling many business owners these days.
There is no question that prices for many businesses are down and for various reasons. But if there are offers on the table, a business owner must take a hard look at any offers and be realistic as to what has to change in the business the economy for the price to go up.
Sing along as you listen to the song.