You and your wife own a business. Like many of our clients, you run the operations while your wife does the books. The business provides full employment for one or more of your children, too. Your dream has been to keep the business in the family-to see it continue through the generations that follow-a legacy. It’s what you’ve always wanted. And you thought your son and daughter did too. They never said otherwise.
A crisp new year... have the country’s banks opened their wallets any wider for the purchase of small businesses in Canada? Don't bank on it! Instead, prospective buyers depend on the seller taking back a percentage—usually some 20 to 50 per cent—of the agreed-upon purchase price in the form of a loan.
If you are a business owner, nobody is going pay you for what you put into the business - they will only pay you for the value they believe they can get out of it. Yet when it comes time to sell their business, many sellers have faulty expectations of what their business is worth and what the market will pay.
The rules of the business highway work to protect and benefit travelers in both directions - buyers as well as sellers - and sellers who ignore them, innocently or intentionally, usually end up losing time and money.
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.
As far as grammar goes, "lawyer" is just a noun. In practice, though, the word comes with heavy baggage and associations that go way back in time, as seen in this quote in Voyager, by Diane Gabaldon.
Buyers and sellers sometimes overstate, understate or "forget" to state. Like teachers and the proverbial "dog ate my homework" cover story, seasoned business brokers have also heard it all. Only our tall-tale tellers are taller. And they often don’t realize what they’re telling us is untrue.
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.
Few realtors are business brokers, but a large number of business brokers are realtors. It's an important distinction—especially if you want to successfully sell your business.
The Process of Selling a Business