Being the owner of your business makes you the person with the most knowledge of your business and you should probably be the one to sell your business. However, if you will feel better when the sale is handled by a business broker, you should go for it. A business broker can be invaluable in […]
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As a business owner, you likely have experience using advertising media to promote your company’s product or services. While you’ll certainly draw on that skill set to list your business for sale, marketing your business is a bit more refined. Rather than casting a wide net in order to broadcast information about your business to
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Here are 6 steps to determine your business valuation: 1. Go over your financial statements. Review your financials, including your sales and profit history to ensure that your business is in sound financial condition, with its assets exceeding its liabilities. Ideally, you will have at least 3 years of financial records, displaying consistency in keeping profits
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What are the top Senior Care Franchises? As you go from owning and running a business to selling it, you may need to undergo a shift in mindset: You have to think like the buyer. The value of your business is a subjective estimation of the purchaser, so you will want to make the business
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Steps for Selling a Business This will serve as a plan, and it may last many months or several years. Your steps may include the following: Get the business as profitable as possible. Find a broker and meet with them. Have an accountant prepare your necessary financial documents. Collect information regarding insurance, agreements with vendors,
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Compile the following documents in preparation for your business sale: Profit & loss statements for the current and past 2-3 years Current balance sheet Cash flow statement Business tax returns for the past 2-3 years Copy of the current lease Insurance policies Non-disclosure/confidentiality agreement Personal financial statement for the buyer to complete Executive summary of
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Unlike a cash sale where the seller can comfortably walk away from the business with money in the bank, when you seller finance a business, the seller continues to be tied to the business for a pre-determined amount of time after the sale is complete. If the business succeeds, the new owner pays back the
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Here are 7 important steps you can take now to boost the value of your business and sell it for a maximum return: 1. Increase profitability. The first step to take, so potential investors will understand the value of your business, is to get proof of continued increasing profits. If you can show them your profits
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