Articles tagged: Buying a Business

Succession Planning and Exit-Strategies Are Too Important to Ignore

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.

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Pre-Sale: Cleaning Up Your Balance Sheet

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.

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Seller Financing: How to Strengthen Your Deal

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.

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How Do I Evaluate Multiple Offers? 

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.

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What Is the Due Diligence Process?

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.

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