Monday, June 22, 2015

7 Unique Ways to Find a Florida Business for Sale

For the average person, finding a profitable Florida business to purchase can be a challenge. Business owners do not always wish to broadcast the fact that they are planning on selling, as there are often legitimate concerns about letting customers, vendors and partners know that the owner is looking to exit. Often the owners themselves may not yet have fully decided that they want to sell. Here are some unique ways of locating profitable businesses to buy.

7. Check the Divorce Column
It's a sad fact that divorce is one of the leading causes of people selling their major assets. When people divorce, it can be difficult to evenly split a business unless it is sold outright, and many divorced people want to start a new chapter in their lives by leaving their businesses behind. Looking for people who are getting divorced and tactfully asking if they are looking to sell can be a good way to find businesses for sale at attractive prices.

6. Read Trade Publications

Everyone retires eventually, but knowing who is retiring and when isn't always easy. Looking through trade publications for people who appear near retirement age can provide you with a good source of prospects to follow up with.

5. Make Cold Calls

Cold calling may seem like throwing darts in the dark, but it often takes less work to find a bargain than you might think. A good approach is to call businesses in the industry that you are looking to buy into and ask if they know someone who wants to sell. Wait for a couple weeks, then send a letter providing your contact information to the same list of prospects to follow up.

4. Ask about Partnerships

Even if someone is not looking to sell yet, they may still be interested in forming a partnership. For example, if you have particular marketing expertise, you may be able to negotiate equity in exchange for your consulting time. Having a foothold in the business will enable you to get a better sense of the market and the profitability of the business. You can then decide if you want to acquire the business outright at a later date.

3. Network with Professional Investors

Professional investors who put money into a range of businesses can be a good source of leads. Professional investors may be looking to divest from one of their businesses. Professional investors will typically look to divest at a reasonable price, but they can also bring less emotion to the negotiations and provide you with valuable information.

2. Leverage Lawyers and Financial Advisors

Lawyers and financial advisors can be a useful source of information about potential business buying opportunities. The nature of their work puts them into contact with many business people. Networking events, business associations and social organizations are all useful places to meet these professionals.

1. Work with a Professional Business Broker

Finally, you can save yourself considerable time, stress and money by choosing to work with a business broker. An estimated 50 percent of all deals between business buyers and sellers never close, primarily because they lack the expert advice of a business broker. Brokers have the experience to identify deals that are suited to the needs of the buyer. Using a business broker is invariably the smartest way for most buyers to locate and close on a profitable business. For more information visit Florida's trusted BusinessBroker here. 

Monday, June 15, 2015

Important Information You Should Know About Business For Sale

If you simply close down your business, then you will get nothing out of your business and it may happen that you might end up paying off outstanding liabilities e.g. under a lease. Therefore, for this reason it advisable to sell or transfer your business to potential buyers. When business owners make the decision to put their business in the market for sale, they are usually provided with a number of choices regarding how to handle the whole procedure. For several people, working with a professional broker proves as an easy way out to deal with the whole procedure.

To get the most out of your business, it is very essential to determine your priorities, evaluate the timing of the sale and assemble your professional team who will assist you along the way. Besides this, you need to understand the legal and ethical duties which you need to face when you make an exit from your business. Selling a business is a very daunting task, so it is very important to get it done in the right manner.

After taking the decision to sell your business, it is very important to consider below mentioned issues before you actually dive into the process of businesses for sale in Florida:

1. Priorities – First of all, you need to determine your priorities. What are the crucial aspects of business sale that are most important to you?

2. Strategy – You should follow a properly planned strategy for selling your business. This will help you to add value to your business, when you will sell it to the potential buyer. Are you able to maximise or minimise shorter or longer term profits by selling it? To be precise, you should sell your business by keeping in mind seller’s perspective.   

3. Legal/ethical considerations – What are the vital things which you need to consider at the time of describing your business and further discussing business issues (if any) to potential purchasers.

4. Value – In order to get the best value out of your business sale, it is important to offer your business to several potential buyers. Moreover, you can also consider creating a competitive bidding war among potential buyers.

5. Timing – When is the right time to sell your business to the buyer? How long it will take to sell your business to the prospective buyer?

6. Finances – If you want to keep a stake in your business, then you should restructure company’s finances. Besides this, another good option is to increase your bank borrowings and selling some of your company shares back to the company.

7. Assets – It is very essential to consider transferring your business assets which don’t generate any income out of your business like cash you don’t require, car or loan amount. Besides this, it is important to declare dividends before selling your business out to the prospective buyers. In case, if there is value in brands, goodwill, etc. owned by business and if it doesn’t appear in the balance sheet, then it becomes very important to get an informal summary of their value for bringing the attention of the buyer.

8. Find potential buyers for your business – You can advertise regarding your business sale through several methods which basically include giving advertisement on both offline and online mediums.

9. Professional advisors – How will you find professional advisors for selling your business? Will you prefer to go with references provided to you by your friends/kinsfolk?

Thus, by considering these suggested points at the time of selling your business will help you to gain maximum benefit out of it.

Wednesday, June 10, 2015

Useful Guide to Select the Best Business Broker for Your Business Sale

Buying and selling your business is one of the important events in your life, so no one wants to just approach the first business broker. An experienced business broker plays a pivotal role in helping the business owner to take the right decision at the time of buying and selling a business.

Need For Business Brokers

There are different reasons as to why it is important to consider the assistance of a professional broker for selling your business:
  • For starters new to the business world, Florida business brokers fort myers offer in-depth sights on valuation, prospecting, negotiations and other important elements pertaining to business sale.
  • Professional business brokers have the required knowledge and skill set of attracting multiple qualified buyers for any given business sale. When there are multiple parties who are interested towards buying a business, then mostly two things happen: First the seller has a good chance of getting the best market value for their business. Second is the risk pertaining to business sale is never accomplished and greatly reduced.
  • Business brokers usually know how to manage with different types of obstacles which causes hindrance in closing of a business sale.
  • Business brokers are right professionals to approach for business sale as they help you to assess your business in a right way and tap into a wide array of useful resources and professional network, which helps business owners to achieve a business objective which matters to them the most at the time of selling their business.
How to find the right business broker for the purpose of selling your business?

1. Experience – It is important to take help of only experienced business broker, who has years of experience in selling different types of businesses in your local market/specific industry.

2. Due diligence –
It is very important to engage the services of the expert professional business broker as it will create a huge impact on your financial condition.

3. Share your expectations –
You should share your expectations with the broker and give them a brief idea about your expectations pertaining to business sale. Share your plans with the broker and if he agrees with it, then you can go ahead and plan the rest of the important things of your business with him. A professional and genuine broker will assist you as well as guide you about how to proceed with the business sale.

4. Reliability – This factor is very important as the business broker you hire will carry out an important task of selling your business. How will you judge this? The best way to do this is to contact references provided by the professional business broker. They can tell you about the performance of the broker in a business sale.

5. Avoid heavy upfront fees – Usually a professional business broker charges up to 10% and 15% of the sale price as upfront fee. It is a customary practice for them to ask some upfront fees to initiate the process of selling a business. It is very important to make sure that upfront fees are deducted from the sales fee when the business is sold off. By following this piece of advice, business owners can save from investing huge amount before they actually go ahead with the process of selling their business.

Thus, when you follow these mentioned steps you can approach the best business broker to sell your business in the right manner.

Monday, June 8, 2015

6 Great Tips To Get The Most Out of Your Business Sale

If you are seriously planning to make a successful exit from your business, then it is very essential to contact a professional agent. It is very important to effectively communicate all the details pertaining to your business to the prospective customers. Get a fair idea about what information potential buyer would require and prove very helpful to increase number of interested buyers. To sell your business, there are plethora of things you can do to enhance the appeal of your company to prospective buyers.

Here, are some great tips that will help you to maximise Florida businesses for sale by owner:

1. Look at strategic ways – Before considering business sale, it is essential to consider some strategic ways that will help you to increase your business value, profit margins and also help you to address certain elements which will have a direct impact on your business value. As a business owner, it is important to spend quality amount of time “on” the business instead of “in” the business. This will help in increasing profit margins and make it more attractive for potential buyers of your business.

2. Select a professional advisory team – To get the best value out of your business sale, it is very crucial to consider assistance of a professional advisory team. They will guide you about certain facts pertaining to business sale which in turn will help you to get an exact idea about the process. Besides this, they can create a remarkable difference between maximising the value of business and causing minimum distraction.

3. Leverage the process of sales – There are several profitable ways in which one can strategically increase business value. When correctly followed, the sales process can increase overall deal value of your business. A professional agent or business broker will guide you throughout the business selling process and manage it for you, whilst enabling you to concentrate on other core activities of your business.

4. Grow your business to sell it a high rate – Buyers generally prefer to buy a business which provides them with a good ROI. If in case a company’s success rate doesn’t appear to be that great, then it can cause a great negative impact on the sale value of its business.

5. Evaluate impact of external factors – The climate in which your business operates can have a huge impact on your business valuation.

6. Review your documentation – It is very important to make sure all the work undertaken is covered under contract and is as per the standard market terms and conditions. Besides this, it is important to reduce obligations and any risk of penalty.

Following are some tips that will help you to leverage the whole business sales process:
Carry out an in-depth online research to identify and approach potential buyers who will gain maximum benefit from acquiring your business. It will ultimately lead to several parties having keen interest in buying your business. This in turn creates a competitive market which drives a good amount of deal value.

You can take help of a professional advisor who will guide you on your role in negotiation and structure the right deal.

To co-ordinate with all the concerned parties, it is very important to take help of a professional advisor. On your behalf the advisor will make sure that interested parties are fully informed and deadlines are met and that the sale transaction stays firm until the whole business sale takes place.

Thus, when you follow above mentioned things in a right manner then you are sure to maximise your business value and get the most out of your business sale.

6 Important Considerations For Selling Your Small Business

Selling or closing your business is one of the vital decisions, which you need to make. There may be different reasons as to why business owners decide to sell their business to an interested buyer:

=> Your business is not making enough profit

=> You are deciding to take retirement from your business

=> You no longer wish to operate your business

=> Your business has achieved its intended objective

To make the whole process of business sale much easier, you can approach professional broker, attorney and accountant, as you proceed. The whole process of business sale usually requires lot of time and when the business gets sold, you can determine some effective ways of handling business profit in the best way.

Selling or Closing a Business – Which is the best option?

If you have decided that you no more want to operate your business, then you need to determine whether you want to consider Florida business for sale by owner or close it down. This depends on numerous factors such as:

=> Your business size

=> Whether your business is profitable or not

=> Whether there is any potential buyer to whom you can pass on your business

Here are few essential considerations for selling your business:

1. Timing of the Sale
It is very essential to start making preparations for business sale as early as possible say for instance a year or two ahead. This will help you in managing all the essential financial records, customers and business structure, which in turn will make your business more profitable. Such type of developments in your business will make the whole process of transition easier for the buyer and will also help your business to operate smoothly.

2. Business valuation
Next, you should determine the value of your business and make it a point to neither price it too high or low. If possible, you should locate a business appraiser who will get you the best business valuation done.

3. Preparing necessary documents
It is very important to prepare financial statements and tax returns of last 3 years and review them by taking help of a professional accountant. Besides this, you should prepare a list of equipment which will be sold along with your business. Create a list of contacts pertaining to sales transactions and equipment. Also, you should keep certain important papers with you such as current lease. Create extra copies of these documents and distribute them among potential buyers whom you think are qualified for your business purchase.

4. Finding a potential buyer
It is not easy to find the best suitable buyer for your business. Whatever may be the situation, you should not limit your advertising as it will help you to attract qualified buyers for your business.

5. Handling profits
It is important to take out sometime before you spend profits from your business sale. Create a proper plan which describes your financial goals and also get some knowledge about tax consequences associated with it. Further, you should speak with a financial expert in order to determine how you want to invest your money. Besides this, you should focus on long-term benefits like saving money for retirement or paying off debts.

6. Prepare a sales agreement
It is important to get a business sales agreement prepared before you sell your business to the buyer. Further, you should make sure the agreement is accurate and also contains all the important terms of business purchase.

Thus, in this way you can sell your small business to a potential buyer.