Key Elements for Every Partnership Agreement
You should never forget that your partnership agreement is, in fact, one of the most important business documents you will ever sign. Many people go into business with loved ones, relatives or lifelong friends only to discover (once it’s too late) that they should have had a partnership agreement. A partnership agreement protects everyone involved…
Read MoreEmbracing Retirement and Selling: 4 Tips for a Smooth Transition
No one works forever. Regardless of how much you love your business, sooner or later you will have to step away. Owning a business can be very demanding. This fact can be doubly true for owner-operators of businesses. The simple fact is that you’ll have to embrace retirement at some point. Most business owners have…
Read MoreWhat Fees are paid for Selling a Business?
Should you pay an upfront fee for selling your business? You have worked long and hard to build up your business and now you are thinking of retiring. The question is how should you go about selling your business and what types of fees can you expect to pay? Some Mergers & Acquisitions firms and…
Read MoreIs It Time to Become a Business Owner? 3 Questions to Ask Yourself.
Many people know that owning a business isn’t for them. But for others, the appeal and lure of owning their own business can be powerful indeed. If you are uncertain as to whether or not this path is for you, there are a few simple questions you can ask to gain almost instant clarity. In…
Read MoreThe Top Two Ways to Purchase a Business without Collateral
Banks love collateral and for a very simple reason. If you have collateral, then the bank has something it can take if you fail to repay your loan. At its heart, collateral is a remarkably simple concept. However, unfortunately, many people who want to start a business lack it. All of this leads us to…
Read MoreFairness Opinions
Since one often hears the term “fair value” or “fair market value,” it would be easy to assume that “fairness opinion” means the same thing. A fairness opinion may be based to some degree on fair market value, but there the similarities end. Assume that you are president of a family business and the other…
Read MoreAre You Asking a Reasonable Price for Your Privately Held Company?
Placing a price on a privately-held company is usually more complex than placing a value, or a price, on a publicly-held company. There are many reasons for this fact, but one of the top reasons is that privately-held companies don’t have audited financial statements. Why are Audited Financial Statements Lacking in Privately-Held Companies? Preparing an…
Read MoreExamining the Mind of the Serious Buyer – 5 Points to Consider
Are you looking for a way to perfect your presentation? Understanding what the typical serious buyer wants will help you get your business ready for selling. Let’s turn our attention to looking at what these types of individuals and entities really want. After all, your time is precious. 1. An Interest in the Industry First,…
Read MoreHow to Buy and Merge a Business With Mine
When you merge your business with another business or businesses, you consolidate two or more companies into one. You can compare a merger to a marriage. The companies involved in the merger join their assets, staff and other resources together, forming a new legal entity. As with a marriage, things can go well for…
Read MoreIs Now the Right Time to Sell Your Company?
Like many things in life, timing can be everything when it comes to selling your company. Every day more and more baby-boomers are now reaching retirement age. Soon, the market will likely be flooded with companies looking to sell. According to a 2016 survey of business brokers, 54% plan to exit in the next ten…
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