Tweet

Entrepreneurs Business Brokers and success

Written by: Joe Cooper

Article Overview: A few important issues to consider when looking for a Business Broker to help you buy or sell a business.

Entrepreneurs Business Brokers and success

Selling a business....

Business Brokers can help with all aspects of the sale and will make life easier for you.

What you should be aware of....

Taking the decision to sell your business is the easy part, to about selling it is another problem altogether, which is exactly why a Business Broker can prove invaluable. The important aspects include setting a price for the sale, advertising, negotiating with a buyer, and compiling all of the legal and financial details that need to be addressed and placed in order to make the sale a smooth professional transition. Your CPA needs to be advised so that accounting for the financial activities of the business can be presented to the buyer. Business Brokers and your CPA deal with these issues frequently, therefore it is advisable to let the experts move in to help you; this might incur costs but will be beneficial to you in the long term.


Confidentiality at all times....

Discretion is the key…Your Business Broker should be able to promote your business for sale without employees, customers or competitors knowing that it is for sale. This is important to ensure the smooth transition of the business during the selling process.

Time is of the essence....

A Small Business Broker can save you time and frustration when in comes to selling your business. Funds and Loans is the place to go to when looking for a Business Broker in your area, they are the business experts who can guide you through every aspect of the selling process, from start to finish.

Marketing.... the experts do it best....

Nationwide, so many businesses go on the market each year - selling a business requires an expert to deal with it. At Funds and Loans, you have the advantage of selecting a network of business brokers that are independent and have been exclusively selected for each state in the nation. We can expose your business to prospective buyers not only in your local area, but also throughout the United States as well as Globally.

When buying a Business....

What you should expect from your Business Broker and what your Business Broker can do for you.

Make your funds available....

For your security and success, when buying a business, you the buyer should be prepared to act quickly therefore your finances should be in place for you to be able to react effectively and assist your Business Broker with the tools that are needed to be able to negotiate the best deal for you.


Commercial Business Financing can be a minefield....

At fundsandloans.com we finance businesses internally, however a personal Business Broker can bring further options to the table for you.

Using a Business Broker you will get further assistance in obtaining additional financing. Generally, banks are reluctant to finance business purchases. Funds and Loans, together with its Business Brokers, make it easier to attract a Private Investor or a Venture Capital firm. Most small businesses typically try to minimize profits on financial statements to reduce tax liability, therefore making it difficult to substantiate earnings. Over 90 percent of business purchases are financed by the owners, which demonstrates their confidence in the business.

Confidentiality is extremely important....

Especially when buying a business. Not only is it important for you, but the seller and the financier will require discretion, certainly until the transaction is complete.

You should be confident that your Business Broker would ensure that all inquiries are held in strict confidence and handled with the utmost professionalism.

Things a Business Buyer should know....

Your business broker should be capable of finding a business for you that you like and would feel comfortable buying and managing to fit your requirements.

When viewing a business, the track record of the business, although important, should not be the final deciding factor. Your Business Broker should make you aware that businesses are put up for sale for many different reasons.

The location of the business might be perfect and the concept equally attractive, however its sale could be due to the current owners not being capable enough to make it profitable. You on the other hand could have the expertise to make a substantial profit.

Another example could be that the current owner has lost interest over the past months or years and has decided not to concentrate properly or that the owners personal circumstances have affected the way in which the business has been managed.

Assuming that you find a business that you like and its location is good, due to poor management, the business may not show the greatest track record. If it were purchased for the right price and on the right terms, this business could become more successful with proper management, making it a good way to achieve your business goals.

Your Business Broker should also make you aware that as a prospective business buyer, you could view a business whereby you will feel concerned as to why the business owner is selling the business. It could be for various honest reasons such as retirement, bad health or re-location, if it is a good business for you, the reason for the sale could become irrelevant

Remember, call your broker whenever you need assistance or have questions about the process....

Finally, a professional Business Broker should be able to negotiate and help you to complete the whole purchase from start to finish. Be aware that many businesses sell for less than the sum they are listed for. If it is a business that you like, don't be afraid to make a lower offer, as long as you feel your offer is reasonable and fair, your Business Broker will be glad to make the offer to the seller.

Related Articles
  Are Business Brokers Licensed?
  Choosing a Broker
  Brokers, why use them?
  Why Franchisees Should Consider Using a Franchise Broker
  What is a Business Broker?

Article Tags: accounting, business broker, business brokers, business business, business experts, business for sale, business funds, confidentiality, cpa, discretion, financial details, frustration, loans, professional transition, prospective buyers, selling a business, selling your business, small business, smooth transition, time is of the essence



Related Forum Posts
Here to Meet Great People! - Hi Matthew Ferry here! I am a life coach and also an entrepreneur. I work with people from all walks of life, Real Estate Agents/Brokers, Entrepreneurs, Businessmen. Great to be here in this forum! Looking forward to hear from you! Thanks!
Del Castienne - International Business and Project Brokers - In addition to the above, Del Castienne is an international brokerage firm specializing in various entrepreneural services. Del Castienne is more than just a brokerage, as we facilitate Private International Venture Capital for Business and Projects from Commodity Speculation Transactions, MBO, MBI, M&A, Bridging Finance, Patents, Branding, JV, Corporate Advisory Services, Business Plan Development, etc.. Del Castienne is linked to 1200 private international Venture Capital consortiums and Funding Syndicates with a funding capacity of $ 115 billion and 5000 international Investment Bankers and Business & Project Brokers. This in itself should provide you with a gateway to the best source of funding in the world. Through Del Castienne any entrepreneur can have up to a potential success rate of 25% (conditions apply) with absolutely no up front costs. Del Castienne charges a maximum of 5% commission which is far below the international standard of 10% - 12% on project value. If you are tired of running back and forth with countless dissappointments, please give us an opportunity to assist you. Our minimum Venture Capital amount is $1 million and we a Commitment Letter can be provided with in 30 days after formalities are in place and your information was received.
Craigslist/Kijiji Sales - Would like to know who on this forum is having any success with generating business through Craigslist or Kijiji by posting ads there? What kind of business do you run and what do your ads state? I've been using the sites to generate leads for Foreclosure properties and I've been having some success. One of my Business Coaching client is a software developer and he's been having a lot of success with Craigslist - almost $7000/month. what's your view on it ?
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Elevator Pitch in 10 Words - "Winning Business Design For Aspiring Entrepreneurs Based On Their Idea"


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Five keys to business success

The Substance Abusing Employee

Attracting Passionate Employees

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.