When it comes time to sell your very small business, you’ll need to consider how your future buyer will pay for the business. You may wish to consider offering seller financing for some or all of the purchase price. What Is Seller Financing? Seller financing is when a business seller offers the business buyer a […]
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If there is one thing we’d tell every single very small business out there about selling their business, it would be this – start planning for your business sale now (even if you love your business and cannot imagine every selling it). The earlier in your business ownership that you consider plans for selling, the
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Do not make any significant changes to your business when it is for sale. In the months leading up to a business sale, you’ll want to carefully get everything ready. Once the business is listed for sale, you will want to avoid making any changes to how you run your business. Here are some specific
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Stu News Newport is reporting that Balboa Island’s Sugar ‘N Spice is for sale. Normally, when a business is for sale, the name of the business is not disclosed to potential buyers upfront. You’d see an ad saying something like “Historic Newport Beach Dessert Ice Cream and Dessert Shop for sale”. Potential buyers would see
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In the overwhelming majority of sales, owners of very small businesses do not want the world to know that their business is for sale. So, how do you find the right balance between advertising your sale and making sure that only qualified potential buyers find out about the sale? Obviously, you’ll want to have a
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When it’s time to sell your Pilates studio in California, you want to work with people who actually understand what Pilates is. You need a team to support you who knows how your schedule software works, who your clients are, and the nuances of how you teach Pilates at your studio. We know Pilates. Murphy
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Many fitness businesses offer specials or discounts to entice members to commit or sign up for packages. When it comes time to sell, does this affect your business valuation? It depends. To get you thinking, here are a handful of scenarios that we’ve seen at fitness businesses. If your business offers specials from time to
Discounting & specials at your fitness business affect valuation? Read More »
When you are selling your fitness business, you will want to be careful and deliberate about maintenance of your equipment. As you prepare your sale, you will need to maintain your equipment and have it serviced. Pilates reformers should be services and springs should should be within their lifecycle. Treadmills should be serviced and cleaned.
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As you are preparing to sell your small business, you will of course be compiling your financial records for potential buyers. When it comes to accounting methods, does the type of accounting you use have any impact on your business sale? Like many things, it depends. Cash accounting method is what most small businesses use
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We recently saw a business broker post about how you need “specialized marketing” to sell your business. He is both right and wrong. Any successful business sale required a comprehensive marketing plan developed specifically for your business sale. Developing this marketing plan requires knowledge of the business that is for sale, industry knowledge and having
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