Are you a business owner thinking about retiring or changing your career? Or maybe you’re at the other end of the spectrum, thinking about buying a small or medium-sized business. I was recently interviewed on the subject of buying and selling a business by Norman Jack for CFRA Radio’s Experts on Call program.
A franchise is a business that is built for someone else. Thinking about your own business in those terms can give you fresh perspective on what will make your business more sellable when you’re ready to go to market. And acting on that insight will make your business more productive and profitable in the here and now.
As we move into spring a good many of us get that restless feeling prompting us to seek change in our lives. For many business owners the change involves selling their business.
Business owners will be selling into a very competitive marketplace, which means it's likely that only the most attractive and well-prepared businesses will sell for what they're worth. You'll want your business to be one of them. Here are our top 10 tips to sell your business AND protect its value, increase your personal wealth and reduce the taxes you will need to pay on the proceeds.
How many of you remember Victor Kiam, the businessman who liked his Remington shaver so much he bought the company? Well, the three Inner Circles I experienced in the U.S. impressed me so much that I bought the company – at least the Canadian Master Franchise.
If a hidden camera recorded the comments of prospective buyers touring your business behind closed doors what would it reveal?
Do you already own a business? Is much of what you need to operate your business “in your head”? Businesses that rely on their owners for success have less value because replacing the owner is much more difficult and they are not ready for growth. Yet that’s how most small businesses still operate today.
Have you a dream of owning your own business with an income that will support you and your family the way you want. Or have you reached a point in your life where you're ready to sell your business, providing you're able to leave it in capable hands.