Areas of Practice
EXISTING BUSINESS SALES
Every business will sell at some point. A business owner can’t take it with them. Many business owners don’t think of selling their business until the last minute. Some business owners may say at a first meeting, I want to sell the business right away. I can help with that. Other business owners are not under pressure and want to start the selling process 3 to 5 years in advance of the actual sale. That is the best process. The financial records can get cleaned up, strategic changes can be made to drive the sales and profits. That will all add to the value of the business when it sells.
business financing
There are many ways businesses can obtain financing. Whether its for ongoing business operations or growth needs, or with a buyer purchasing a business. We can help. If a buyer can’t obtain financing for the purchase of the business, the deal is not going to close. We can help arrange financing early in the process, to help avoid unnecessary surprises later in the deal.
negotiating the deal
Every deal is different. There are different types of stake holders involved in a business transaction. Knowing the value drivers of each stake holders is critical. It will help obtain buy-in and cooperation during the process. A deal often “dies” three times during the selling process. Having an experienced business broker can help the parties stay on track and work through the “roller coaster ride of the deal.”
franchise resales & start-ups
A business buyer may be a great candidate for a franchise opportunity. It could be the resale of an existing franchise business or starting a new franchise business. We have worked with both types of opportunities. There are certain considerations with each opportunity. Having an experienced business broker can help you with each process and opportunity.
preparing business for sale
Most business owners are focused on starting and operating their business. It can be all consuming from a time and energy perspective. Selling the business is often not considered until the very end. Ideally, a business owner should start the selling process 3 to 5 years before they actually exit. Cleaning up the financial records is a big way to increasing value.
closing the deal
Working with all the professionals in a transaction is necessary. There will be other professionals involved, including bankers, attorneys, landlords, property owners, franchisors, etc. The broker will move effortlessly between them. Meeting their needs and ensuring their cooperation, to stay focused on completing the closing. An experienced broker can act as a buffer to keep everyone on track.
business valuations
A business owner should get a business valuation several times during the life of the business. The valuation is not only valuable with the sale process, it can help with identifying opportunities and challenges during the life of the business. It can also help with estate planning purposes. Knowing what the business is worth can help structure the transition in the most tax efficient way. The business owner wants to get the most, after-tax, as possible with the sale of the business for them and their family members.
marketing for the sale
There are many potential types of buyers for a business. Casting a wide net into the buyer pool can help with obtaining the best deal for the seller. There are many ways to target those buyers. Using an experienced business broker can help you locate and present your business in the best light. A seller often gets “one bite of the apple” with a buyer.
confidential process
Most business owners want to maintain the confidentiality of the sale. They don’t want the employees, vendors or competitors to know the business is for sale until the very end. If the sale is revealed too early, employees might leave, vendors may stop selling to the company or competitors might emerge and take business from the seller. A business broker can help maintain the confidentiality of the entire process.