Selling a Business

And a Letter of Intent Is…

The Letter of Intent (LOI) is a pre-contractual written instrument prepared by the buyer for the seller, which is usually the preliminary understanding of both parties. The Letter of Intent can also be called Agreement in Principle or Memorandum of Understanding. They all have the same general meaning and lay out the following: What is …

And a Letter of Intent Is… Read More »

Why Deals Fall Apart

There are lots of reasons why the sale of a business falls apart. The reasons can be grouped into four major categories: those caused by the buyer; those caused by the seller; those caused by a third party; and those caused by “acts of fate”. (Anything that does not fit the first three categories can …

Why Deals Fall Apart Read More »

Pre-Sale Tuneup

Business owners are often asked, “Do you think you will ever sell your business?” The answers vary from: “Only when I can get my price” to “Never” to a realistic “I don’t really know” with everything else in between. “When will you sell your business?” is often asked, but very seldom answered. Certainly, misfortune can …

Pre-Sale Tuneup Read More »

Thinking About Selling?

Here are some tasks business owners should consider completing before going to market to help their businesses sell. Remove any items not included in the sale. That family heirloom portrait behind the counter of Grandfather William, founder of the business, should be removed. Remove or repair any non-functioning equipment. Prepare an operations manual to show …

Thinking About Selling? Read More »

Confidentiality Agreement – What Is It ?

Confidentiality Agreement – A pact that forbids buyers, sellers, and their agents in a given business deal from disclosing information about the transaction to others. It is common practice for the seller, or his or her intermediary, to require a prospective buyer to sign a confidentiality agreement, sometimes referred to as a non-disclosure agreement. This …

Confidentiality Agreement – What Is It ? Read More »

Are You Ready To Sell?

What a “loaded” question you may think, but the reality is that almost no business owner and their business reach the qualifications of “Ready to Sell” without professional assistance from a qualified individual. Getting your business and yourself,  as the business owner “ready to sell”, takes quite a bit of work and preparation. You need …

Are You Ready To Sell? Read More »

FOR YOUR CONSIDERATION

BUYERS WANT CASH FLOWRecasting financial statements will help you provide a potential buyer with a better view of cash flow.  Cash flow is not the same as profit.  All potential buyers will want to see the income tax returns, profit and loss statement, owner compensations, etc. LOOKS CAN MAKE A DIFFERENCEJust as you will need …

FOR YOUR CONSIDERATION Read More »

Is It Time to Raise Prices?

Increasing the price of your products or services is, in most cases, the most difficult decision a business owner has to make. Looking at the negatives is easy. •    Our business is too competitive to increase prices. •    Our customers/clients are used to our pricing. •    Customers are too price-conscious. •    We won’t be able …

Is It Time to Raise Prices? Read More »

Scroll to Top