09 Jun 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 BusinessBroker.net entitled “Here’s Why it’s the Perfect Time to Become a Small Business Owner” discusses why now is as good a time as ever to take the leap into business ownership. If you have a passion for the business you intend to own, the excuses not to do it are just that – excuses.
Of course, while passion is critical, it’s not everything that makes for a successful business. It is important to consider the market, financing options, consumer demand, etc. With the right conditions, the right business model, and the right passion, you will be well-positioned for success.
A recent article from Sunbelt entitled “How to Sell a Motel During COVID-19” explores the idea of selling a distressed motel amidst the COVID-19 pandemic. The travel sector has been hit hard, and some motel owners may wish to make an exit before their business has fully recovered.
There are buyers out there, but it is important to position the business so that it is appealing to those buyers. To make your motel stand out, consider the following:
- Make improvements to the grounds, rooms, systems, etc.
- Organize all of your financial documents and have a valuation done
- Implement a well-rounded strategy for marketing your business to potential buyers
A recent article from Viking Mergers & Acquisitions entitled “When the Money Does Matter: Why You Should Use a Business Broker” discusses the fact that when it comes to selling your business, money does matter. You’ve worked hard to build your business and selling it should generate funds for the next chapter in your life.
One of the best ways to get top dollar for your business is hiring a business broker. A business broker can help maintain confidentiality, maximize value, and find the right buyer. They know what you are going through and that the final selling price has significant implications for you.