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 […]
You are a business owner. You have worked hard, possibly for decades, building your business. You are smart. But you have never sold a business before. You have questions. Lots of questions. Where do you start? To whom do you turn? Your lawyer? Your accountant? A business broker? An investment banker? Who will you sell your business to? What is your business worth?