One of the issues that sellers of businesses frequently neglect to consider is the transition period as ownership of the business shifts from the seller to the new owner. Some buyers prefer a clean break, taking the reins from day one. This is quite rare. Most others insist on a transition period, requiring the seller [...]
Any day you get served with a lawsuit is not a good day for your business. Lawsuits may be unexpected, and they clearly are unpleasant, but they may be unavoidable, especially in this litigious society in which we live. If you own a business, and if it’s successful, you present a bigger target for anyone [...]
If the competition in your market is aggressive in trying to lure away your customers, a would-be buyer may hesitate. The buyer will want to know how the competition is affecting your business. The buyer may even consider the possibility that increased competition may be the reason you’re selling and decide to walk. Even as [...]
Selling a business has many challenges, which is why it's important to consult with a professional business brokerage/M&A firm. Below are just two samples of potential challenges Sellers should consider looking into prior to listing their business for sale: Liens It’s time to do a little digging. Think back about your financial and business growth. [...]
When selling a business, often a key component is the contracts to which the company is a party. They may be contracts with customers, which include the company's revenue, contracts with vendors, or various licensing agreements that allow the company to operate. It could involve a lease for a particularly favorable location or on particularly [...]
For many business owners, the idea of selling their business may seem inconceivable. It may seem so distant they do not even consider the significance of negotiating a new lease. However, a business’s leased premises can be one of its most important assets. Can you negotiate a lease with the landlord while selling your business? [...]
Diversification is a well-known strategy for minimizing risk in investments. It’s what you should be doing with investments outside of your business. It is also inside the investment you’ve made in private equity, namely, your business. Use the law of diversification within your business to fortify and protect the business. This will reduce the risk [...]
Details, details, details. When you’re negotiating the sale of a business, everyone comes to the table with their own details—what they want and don’t want, what they need and don’t need, and their own strategies and expectations. Negotiating the sale of your business can involve everything from price to employees to branding to intellectual property [...]
It is imperative that you maintain the trust of the person who is interested in buying your business. The last thing you want to do during negotiations when selling your business is to lose credibility with the buyer, otherwise, it’s most likely that your deal will go up in smoke. Buyers come to the table [...]
As a business owner, it can be very exciting when a potential buyer inquires about your business for sale. This may happen when your business isn’t even on the market. Although there may be many aspiring business owners in the community, many of them will never be business owners. They may not have the skills, [...]
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Deal Killers is a practical guide for current and future business owners who will, at some point, consider the sale of their business.
