10 Feb Around the Web: A Week in Summary
The following information has been sourced by Business Brokerage Press for the benefit of the business brokerage community. The views of these articles do not necessarily represent the views of Business Brokerage Press. We hope you find this information helpful.
A recent article from Sunbelt Business Brokers entitled “How to Attract Buyers for Your Business in 4 Steps” offers advice for business owners that are looking to sell their business. Despite the pandemic, aspiring entrepreneurs are seeking stable businesses and interest rates are very low, meaning businesses are still being bought and sold.
When selling your business, attracting buyers is key. To help improve your chances of attracting the right buyers, consider the following:
- Identify Your Potential Buyer Pool
- Fine-Tune Your Online Presence
- Sell Your Story
- Don’t Hide Weaknesses or Threats
A recent article from Forbes entitled “Thinking About Buying A Franchise? What Are You Waiting For?” explores the benefits of franchise ownership. As the pandemic has brought on major challenges for businesses, franchisors have stepped up to help franchisees with things like new safety procedures, reduced royalty payments and PPP loan guidance. The franchise industry is expected to surpass its predicted 2020 growth rate by 1.5%.
For prospective franchises, it is important to consider the dedication it takes to run a successful business. With hard work and a commitment to the process, a franchise offers you a blueprint for success.
Several industries have proven to be resilient amidst the pandemic such as home service, health and wellness, education and childcare. These industries in particular may offer viable franchise opportunities.
A recent article from Viking Mergers & Acquisitions entitled “Is Now a Good Time to Sell Your Business?” discusses why it might in fact be a good time to cash out. Despite the pandemic, there are several things working in the seller’s favor.
Current conditions that are favorable to sellers include:
- A surge in buyers
- SBA initiatives to help buyers be able to purchase a business
- Advantageous tax structure