After you have made the hard decision and decided to sell your business, the next step is to understand what a fair market price is for your business. This is the time to be realistic about what a buyer will pay for your business. To determine a realistic market price you must take all of [...]
A common question I am regularly asked is do I tell my employees I am selling the business? As usual there is no simple answer. Most business owners I talk with expect the worse, i.e. their key employees will leave as soon as they advise them they are selling the business. So what should you [...]
Selling a business and selling a house is like apples and oranges – they cannot be compared to each other. However a lot of buyers and sellers approach business sales as if they are one in the same. Statistics show that real estate agents sell 8 out of 10 houses they list. Whilst for business [...]
You have made the biggest financial decision you will make – you have decided it is time to sell your business. Now what is the market going to give you for all your time and hard work? Before you can determine what price to put on your business, you first need to understand what category [...]
In last months article you would have seen the following: From 1 July 2012 until the year 2029, there is going to be a constant supply of businesses on the market. The first of the baby boomers turned 65 years old in 2011 and population statistics show the birth rate of baby boomers growing every [...]
It still amazes me that businesses are still reluctant to spend money on technology for their business. After visiting numerous businesses when undertaking an appraisal of its value, the first thing I notice is the lack of spending on hardware. This lack of spending only brings down the value of the business as buyers want [...]
When you are asked what you like most about owning your business, the majority of business owners put “freedom” at the top of the list. You might describe it in a number of ways – working for myself, being my own boss, making my own hours, but it all leads to the same outcome – [...]