01 Apr 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 Viking Mergers & Acquisitions entitled “Complete Checklist for Selling a Business” offers practical advice for business owners preparing to sell. This can be an overwhelming event, so having a step-by-step process is extremely helpful.
Consider the following checklist:
- Gather Advisors
- Sign Confidentiality Agreements
- Organize Financials
- Property & Equipment Check
- Business Valuation
- Buyer/Seller Meeting
- Offer For Purchase
- Accept, Reject, Or Negotiate
- Due Diligence
- Prepare Closing Documents
A recent article from Forbes entitled “Seven Steps Every Owner Should Take Before Selling Their Business” explores key action items to prepare your business for sale. The sale process is intricate, however with a proper approach you can set yourself up for a successful transition.
Consider the following steps:
- Clean House – get the business in shape physically and financially
- Build A Team – establish management and systems to run the business
- Look At Value As A Buyer – what are you offering and what is the ROI
- Keep Management Focused On Business – the day-to-day operations must go on
- Put Together Your Advisor Team – business broker, transaction attorney, tax advisor
- Consider Tax Implications – work with an experienced advisor to assess
- Plan Your Finances – how will you fund the next stage of your life
The International Business Brokers Association recently published its Spring 2022 issue of IBBAinsights Magazine which is an excellent industry resource for business brokerage and M&A professionals. The quarterly publication offers insights on buying and selling businesses.
The Spring 2022 issue contains the following features:
- A letter from IBBA Chair Randy Bring
- Should the Business and Real Estate be sold together?
- Working with High Net Buyers and Their Concerns
- Business Lessons Learned from 2020-2021
- The Future of Business Brokerage
- Preserving Legacies and Creating Futures
- Legislative Updates