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
Cash vs accrual account method Read More »
Many business owners would like to sell their business one day, but have no immediate plans to put it on the market. This is a great time to start preparing your business for an eventual sale. There are a few things you can do right now, no matter where you are in the
Selling Your Small Business? Do these 3 things first. Read More »
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
Specialized marketing or BS? Read More »
In the world of very small businesses, talk about selling your business is almost non-existent. Changing jobs is accepted and understood but the idea that you’d sell your business to go do something else is not an intuitive for most in the very small business world. Why is this? Personally I think it is because
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There are two main approaches to valuing your very small business, asset valuation and multiplier approach. Asset Valuation for Small Businesses With an asset valuation, the value of the business is derived from the value of the assets. Assets are all of the things that the business uses as part of its operations. Assets are
Valuing Your Very Small Business Read More »
When you are selling your small business, you need to decide whether or not you are going to tell your employees the news. It’s a personal choice the will depend on the business owner, the size of the business, the roles of different employees and their work relationships. There are some scenarios where sharing the
Telling Employees about a Potential Business Sale Read More »
Sales Deck Basics Your sales deck, sometimes called your “prospectus” is a multi page document that you will send to prospective buyers. The sales deck needs to be visually appealing, concise and easy to navigate. You must include all the basic information about your business and how it operates in your sales deck. A
What is a sales deck and why do I need one to sell my business? Read More »
How long can a small business owner expect the sale process to take, from ad listing to closing? The way you approach and structure your sale will go a long way to determining how long it will take to sell your business. Much of this depends on the health of your business,
How long will it take to sell my small business? Read More »
Selling your business is a process. While every sale is different, there are several stages that most business owners go through when they sell their business. First, an owner makes the decision to sell his/her business. For some owners, selling is an easy decision. For others, the decision to sell takes more thought and effort.
What Is the Process for Selling My Business Read More »