BTEP: Where Should You Start? You are a business owner. You have worked hard, possibly for decades, building your business. You are smart, and the business has been successful, but it is time to move on. Perhaps you want to retire; maybe you want to try your hand at something new. Regardless of the reason, […]
So You’re Selling a Business: Now What? For most business owners, selling a business is a once-in-a-lifetime event. These owners want to maximize their proceeds and they may be super salespeople, but likely have little experience selling a business. In fact, their exit may be the only meaningful transaction they experience. This is why it is […]
How Do I Love Thee Advantages of a Buy-Sell Agreement? Let Me Count the Ways… Businesses with more than one owner face unique challenges in planning for the future. A buy-sell agreement is an arrangement between business partners to govern potential ownership transitions, including the “four Ds”: death, disability, divorce and disagreement. One of the […]
Selling a Business – Planning Is Key There are several factors that determine if an owner is selling a business at the right time. The greatest challenge for many owners is creating a strategic plan based on the owner’s individual priorities. An owner who is happiest post-sale is the owner who stuck to the plan, […]
Business owners say they understand the importance of transition planning, yet few actually plan their exit. What is going to happen when you finally relinquish day-to-day control over your business? Are you going to sell it and live off the proceeds? Do you have a successor lined up to continue your legacy? Only you can know but, whatever you have in mind, it pays to have a formal and well thought-out succession plan and exit strategy.
Before you sell your business, make sure to minimize your expenses and maximize your presented earnings.
You’re a business owner who is contemplating a sale. Intuitively, you understand that it’s important to make your business look as attractive as possible to potential buyers. If you haven’t sold a business before, you probably don’t know the best way to accomplish this.
In the right circumstances, seller financing can be the key to negotiating a better deal or closing more quickly. Seller beware, however, because cash is king and you will have to sue a buyer who defaults on an obligation to pay a Seller Note.
If you are fielding multiple offers for your business, it is important to keep a sober perspective and to work toward strengthening your final agreement. As the seller, you probably have greater leverage in a multi-buyer situation, but that does not necessarily make it an easier sale.
Buying a business is not like buying other assets. Much of a business’ value is intangible, and many of its component parts are difficult to price correctly. A wise purchaser relies on the due diligence process for protection.
Assignment and Assumption Agreement An Assignment and Assumption Agreement is an agreement between a seller and buyer by which the seller (the assignor) transfers its rights and obligations under one or more executory contracts to a buyer (the assignee). The assignor may not be completely relieved of potential liability under a contract being assigned. Audited […]