Selling

Why To Sell Your Business After Your Best Year Ever

Business owners come to me to sell their businesses. I’m a VR Business Broker serving the North Carolina Triangle Market so owners observe the exits I help other owners achieve and ask me about how to achieve their own. Some of these owners I can help; they have a transferable business producing significant cash flow. Others I can’t. They may have had a great business, but now they are trending downwards. Unfortunately for many of these owners, they may have more of a problem than Read More>>

Thinking of Selling Your Motel? Here's How to Know it's the Right Time

Are you a motel owner who’s planning to sell your business soon and capitalize on your previous efforts? Planning is of the essence; by clearly anticipating all obstacles, you’ll be able to work through them effectively. If you’ve been running a motel for a while, you’re probably no stranger to this logic of anticipating problems and finding solutions in advance. In fact, that is probably the reason why you’re reading this article right now. Luckily, you’ Read More>>

Attorney Selection for Business Deals

As a business broker I answer a lot of questions about how to sell a business. One of my FAQs that I share with all business owners planning to sell is call the “Do We Use My Guy Or Yours?” While the “guy” could be a “gal,” the question is all about attorney selection. The point of that FAQ is that sellers must have legal representation when selling a business, whether it’s someone they already know or someone I’m going to recommend. Here are s Read More>>

Selling Your Business?

JoAnn Lombardi VR President Learn to Think Like a Buyer You’ve built a great business with love and care. It has grown larger than you’d ever imagined, and generates a nice profit that has allowed you and your family to live comfortably. Now you’re ready to sell. You assume there’s a buyer out there who w Read More>>

The Stakeholders In Successful Deals

It takes a village to raise a child, and it takes a team to close a deal. Going at it alone can be a challenge, as business deals have multiple, opposing stakeholders on both sides. Here’s a roster of some of the major players in a business deal assuming you are the seller of a successful small business: Your Deal Making Team: You: You are the most important element in the deal. You have created a small business that has created cash flow and job opportunities for your employees. Read More>>

Facing the Marketspace

JoAnn Lombardi VR President Since the beginning of the 20th century, advertising drove our economy in the form of a pre-packaged, one-way story. Today, it's a different story. We've gone from three channels to 500, from no web pages to a billion web pages. The choices that consumers have today are astronomical. There are more than Read More>>

The Advantages of Self-Educating Whether Buying or Selling

Peter King VR CEO As any VR business intermediary will tell you, buying a business gives you a greater chance of success than starting one from scratch. 80% of new businesses fail in the first three years due to factors such as poor location, low product quality, under-capitalization and lack of management skills. Buying an establ Read More>>

Why an Exit Plan is Critical When the Time Comes to Sell

Peter King VR CEO Every business owner should have an exit plan in place. If you currently own a business, you know as every other successful entrepreneur knows that you won’t be doing this forever. You want the value of the business to stay high so you can attract qualified buyers to take over ownership and expand whenever Read More>>

Follow the Necessary Steps to a Successful Business Sale

JoAnn Lombardi VR President Most business owners, who are looking to sell, make the mistake of not preparing early enough. This can result in not receiving the maximum dollar amount for your business transaction. The selling process should start when you buy your business. You should know the return that you are receiving on your i Read More>>

How Seller Financing Can help you Find a Qualified Buyer for Your Business

Peter King VR CEO When you are exploring the option of selling your business, you may want to offer seller financing in order to attract a larger buyer pool, which, in turn, will generate a higher selling price. At VR, we strongly recommend using this route to help sell your business. Whether you've sold a business before or not, V Read More>>

Poor Pricing Strategy: Seeking Suckers

I help sellers go to market all the time, typically after we walk through a “Broker’s Opinion of Value,” but sometimes sellers have their own price in mind. Going With The Gut When sellers come to me and they have a price set I like to ask them how they got to their price. Normally it’s a combination of what they invested in their business, what they need to move on, and what they “feel” is right. When it was time to sell my business a dec Read More>>

Selling Your Business? Learn to Think Like a Buyer

JoAnn Lombardi VR President You’ve built a great business with love and care. It has grown larger than you’d ever imagined. It generates a nice profit. As a result, this has allowed you and your family to live comfortably. Now, you’re ready to sell. You assume there’s a buyer out there. You want someone Read More>>

Separating Yourself From The Market

Peter King VR CEO The strategy is fundamental in creating significant value in your business and leads to sustained growth and returns. To create a successful strategy, you must ensure that it has the following: • Uniqueness; • Ability to create new markets; • Provides elements that inspire Read More>>

Walking the Road to the American Dream

JoAnn Lombardi VR President People want to be their own boss. By far, this is the biggest reason people want to go into business ownership. Some may be frustrated in their current job or position. Others may not enjoy their current boss or employer, while others feel that their abilities are not being used properly or efficiently. Read More>>

How to Attract the Attention of a Seller

BusinessesForSale.com When a seller puts their business on the market, they are usually prepared for a lot of time-wasters. Most sellers try to reserve their energy for buyer enquiries that they think are serious. This means that, if you are one of those buyers, you need to stand out from the crowd. Your enquiry needs to give the selle Read More>>

Selling the Family Company

Peter King VR CEO It may seem like just yesterday, but in reality its many years ago and you started your company. At that time the goals for you and/or your family were closely aligned with that of your business. Time has marched on, the family has grown up, homes have been paid for, and you are once again considering what the Read More>>

How to Attract Serious Buyers

BusinessesForSale.com When you are trying to sell a business, your main goal will be trying to attract the people that are serious about buying so that you don’t your time with people that are not. To do this, you need to be serious about selling and there are a few things to do to make sure that you are. Preparation Preparing Read More>>

Where Your Company Fits In

Peter King VR CEO Knowing where your company fits into the world of business is a must if you want to understand the dynamics of selling it. The rules that govern the sale of public companies like Ford, Microsoft, and General Electric are radically different from the rules that control the sale of closely held, owner operated, founder Read More>>

Selling your Business? Here’s How to Remove Yourself

BusinessesForSale.com Building a business and maintaining it takes dedication. Understandably, the relationship between owner and company can become so close that the two are fused in some respects, which can be problematic when it comes to selling it. To clinch a successful deal and allow a business to thrive under new ownership, it’s import Read More>>

How Not to Deceive Potential Buyers

BusinessesForSale.com When you’ve made the decision to sell your business ideally both the premises and your books need to be on point. If the business does not appear to be looked after, the buyer can suspect some concealment or deception. Along with this you’ll need to be careful about your responses to any questions you are asked. Th Read More>>

5 Essential Tips to Master the Art of Selling your Business

BusinessesForSale.com Have you started to contemplate the eventual sale of your business? Never sold a business before? Here are five essential tips to help you prepare the business for sale, find a buyer and achieve a deal on price and terms that you’re happy with.1. Value the businessGet an accurate valuation of your business from a t Read More>>

Can Your Business Broker Answer These 7 Questions To Your Satisfaction?

BusinessesForSale.com The only thing worse than no professional support is the wrong professional support. Ask these questions to secure the right broker. Selling a business on your own to save money is often a false economy, but hiring the wrong business broker is arguably even worse. If you are to avoid appointing a broker who is unscrupu Read More>>

Do I Need A License To Become A Business Broker?

Peter King VR CEO We often get the question from those wishing to become a business broker: Do I need to have a license? And the answer is yes and no. First, there is no such thing as a "Business Broker License". However many States and Provinces do require a real estate license to facilitate the selling of a business. Below is a lis Read More>>

Avoid These Pitfalls When Selling Your Business

BusinessesForSale.com From a lack of preparation to proceeding without the help of a business broker, these are some of the most common mistakes made by sellers. Selling a business for a satisfactory return and within your preferred timescale can be a challenging prospect. Attracting buyers requires a focused approach, careful groundwork a Read More>>

5 Things You Need to Know When Selling Your Business

BusinessesForSale.com Selling your business is never going to be an easy process. It’ll take longer than you expect, and could be more complicated than you anticipate. However, if done correctly, it can set you up financially for the next step in your life – whether that’s retirement, another business venture or something els Read More>>

Closely Held Businesses and Compensation Plans

Duane Merchant, CFP® Financial Advisor How to ARM Your Key Employees for Success Most business owners would love to have employees who are as passionate about the company as they are. It makes sense: The future of a closely-held or family business depends on how securely its select employees are tied to it. But creating Read More>>

How to Sell to Millennials

BusinessesForSale.com Move over Baby Boomers. The next market business brokers should be paying attention to is Millennials, whom are defined as being between ages 18 to 34 in 2015. There are many misconceptions about this generation, but in reality, Millennials are the future business owners of America. The Power of the Millennial Genera Read More>>

Employment Based Fifth Preference (EB-5 Program) - A Summary

Larry Behar Behar Law Group The fifth employment based visa preference category ("EB-5"), created by Congress in 1990, is available to immigrants seeking to enter the United States in order to invest in a new commercial enterprise that will benefit the US economy and create at least 10 full-time jobs. The EB-5 Program is governed b Read More>>

Explore Your Selling Opportunities

Michael Langford VR Sacramento, CA I recently met with a business owner who, because of health problems, wants and needs to sell his business. He has a key employee that supervises much of the work that is performed by the company. He offered to sell the business to the employee, and they agreed on a price, with the seller carrying a Read More>>

9 Point Checklist: How to Attract the Right Buyer

JoAnn Lombardi VR President When considering selling your business, every buyer expects a business of great value as an investment. Depending upon the qualified candidate, it could be an entrepreneur with a specific set of needs that motivates them to invest in an established business or it could be a private equity group that sees t Read More>>

Top 5 Reasons Why Being on Social Media Boosts the Worth of Your Business

Joshua Jones VR - Communications The art of selling your business is simple yet complex, that's why it is best to consult an experienced business broker. With so many emerging technologies, it can be hard to know what to adapt to and how it can benefit your business in the long run. Most of these worries can be eased once given th Read More>>

5 Things to Avoid When Selling Your Business

BusinessesForSale.com If you’re considering selling your business, congratulations! This could be a great move for you. Or, it might not. It’s definitely a big step, though, and one that requires thought and preparation in order to optimize the outcome for everyone involved. Unfortunately, many business owners go into the sale o Read More>>

Baby Boomers Are Keeping Business Brokers Busy

BusinessesForSale.com Financial forecasters say that the US’ 70,000,000 Baby Boomers are all set to make waves in the American economy. With a great number of this demographic owning businesses and planning to retire, some predict a 'tsunami' of Baby Boomer enterprises will hit the business sales market – though fewer are disposed t Read More>>

7 Steps On How To Write An Eye Catching Selling Memorandum

JoAnn Lombardi VR President Prepare a Selling Memorandum when marketing a business to sell. The selling memorandum is a written summary which outlines the selling features of the business, highlighting those points which would be of interest to a prospective purchaser. The package acts very much like a brochure on the business. It pr Read More>>

How To Prepare For An Interview With A Qualifying Buyer

Peter King VR CEO All phases of business sales stress being prepared in advance, and the Buyer Interview is no exception. Preparing psychologically in advance empowers you with an inner confidence to control the situation, rather than being controlled by the circumstances. You have successfully handled the Ad Call and closed for the Read More>>

The Art Of Selling.....A Business

JoAnn Lombardi VR President As with any profession that involves making important decisions, selling skills are key elements to success in Business Sales. Before examining the technical side of the Business Sales industry, it is important to understand a few elements of the psychology of selling to gain an appreciation of the skills Read More>>

5 Types Of Discretionary Earnings To Be Aware Of Before Selling a Business

Peter King VR CEO 1. Owner's Salary Most business owners do pay themselves some salary on the books. The key here is whether there are other members of the family included in the payroll expense, and whether or not these individuals serve a function in the business. (A buyer can only replace one salary, so be careful which salary(s) Read More>>

Preparing An Offer Presentation Between The Buyer And The Seller

JoAnn Lombardi VR President While writing an offer may seem like the final or ultimate step to the buyer, it is really just the first step in the process. It starts the negotiations process and sets the ground work to determine how flexible a seller might be. If a buyer, writing an offer should be relatively straight forward. The key Read More>>

How To Deliver a Business Listing Presentation To a Seller

Peter King VR CEO Your effectiveness as a listing agent depends on your ability to make a good listing presentation to a potential seller. Professional business intermediaries understand that the key is to determine the seller's true motivation for selling. You must discover how far along the seller is in the "thinking about it" sta Read More>>

How To Understand a Buyer's or Seller's Personality Type

Peter King VR CEO The key to good observation and listening skills is to build a better picture of how the seller or buyer is likely to react. You want to anticipate reactions so that you can solve problems before they become an issue. To build this picture, it is helpful to use a model to describe general personality types. Althoug Read More>>

5 Ways VR Business Brokers Educate Sellers

JoAnn Lombardi VR President As a professional business broker, it is important to insert yourself as the expert on how to sell or buy a business among other needs based on the potential client. Before a seller lists their business for sale there are a few things you can do to educate your client and keep them satisfied with your serv Read More>>

How To Attract The Right Prospects Like A Magnet

Peter King VR CEO A professional business Intermediary develops his platform for success by prospecting for listings. Listings are the life blood of the business sales industry. They constitute the inventory we offer to the buying public. Selling this inventory is our business. Advertising this inventory is what attracts the buyers t Read More>>

Getting The Deal Done....Ways To Develop a Closing Strategy

JoAnn Lombardi VR President Once all of the papers have been submitted to escrow for preparation, you should receive back a total amount the buyer will need to bring to closing in certified funds. This figure is based on prorating each applicable item to a certain day of closing. If you’re closing day changes or a new prorated Read More>>

Six Steps On How To Handle Objections When Selling a Business

Peter King VR CEO An important part of the selling process deals with handling objections and addressing issues and problems raised by the prospect. Most novices make the mistake of jumping in and attacking an objection, and as a result, lose ground with their prospect. To be effective at answering objections you must be a good prob Read More>>

The Importance Of Effective Communication In Business Sales

JoAnn Lombardi VR President Just as listening and observing skills are important, so are careful, well thought out communication skills. With important decisions such as buying or selling a business, it is critical to convey each point carefully. Equally important is that the recipient interprets a point in the way it was intended. O Read More>>

5 Tips for Selling Your Business

JoAnn Lombardi VR President Businessowners own life-long dreams, not businesses. When the time comes to pass on that dream, care should be taken to get the best price. The followingtipscan helpbusinessowners successfullyselltheir businesses. 1. Position yourbusinessforsale. This process should begin the day you purchase or start th Read More>>

Business Books & Records….Who Cares? Your Buyers Do!

JoAnn Lombardi VR President You likely didn't go into business for yourself because you relished the idea of creating, organizing and maintaining financial documents. Financial records are part of your ongoing operations, but if you're like most business owners, you likely don't focus on them often or think about them regularly; howe Read More>>

How To Make More Money Selling Your Business

Peter King VR CEO The sale of your business is of extreme importance. Regardless of the reason you may be selling, consulting with a professional business broker presents a better opportunity. The sale of a business consists of a presentation, finding the most suitable buyers and ensuring you receive payment for what the company is a Read More>>

Knowing the Right Time to Sell Your Business

JoAnn Lombardi VR President It can be a tricky endeavor, figuring out the best time to sell your business in a market that is constantly fluctuating. Using a VR Business Broker can help you identify important signs to look for in determining the best time to conduct business valuations and see your company sold on the market. Sell Y Read More>>

Getting the Most Out of Your Business Before Selling

JoAnn Lombardi VR President Selling a business isn’t simple as most people would think leaving the entrepreneur with more options than they can think of. Taking the wrong approach could have a negative impact financially both for the seller and company, so knowing the advantages and disadvantages from a professional intermediar Read More>>

Seven Ways to Sell - It Depends on Your Objective

JoAnn Lombardi VR President 1. Top price at all costs The objective is clear, just like the submarine commander who said, “Damn the torpedoes, full steam ahead.” Whether it is a public company divesting a subsidiary or a private owner, regardless if the plant is moved and the employees are dismissed, the top price is pa Read More>>

The Importance of Keeping Your Business Books Up-To-Date

Peter King VR CEO At least once a month, you should be doing an analysis of your business,and making sure that your books and records are in working order. It's not only good to see the progression of your business, but to verify thatboth your accounts payables and receivables are in the black. If you are thinking about selling your Read More>>

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