13 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 Exit Strategies Group entitled “From 60 days to 6 months: Why you need an M&A attorney?” discusses the importance of working with an experienced business transaction attorney and what the attorney will do for you and your business.
An experienced M&A attorney will look out for your best interests, help you understand and mitigate risk, translate legal terms, evaluate deal terms, work with your broker, draft and review contracts, and advise you on your rights and responsibilities.
Business transactions are complex with varying deal structures. They involve delicate negotiations. They require forward motion. Your attorney should have experience in all of these areas.
Click here to read the full article.
A recent article from Sunbelt Network entitled “4 Tips to Sell a Dental Practice” offers helpful advice for dental practice owners who are preparing to sell. While the article is geared towards dental practices, these tips are also applicable to most other types of businesses.
When preparing to sell your dental practice, consider the following:
- Develop a transition plan to define how the business will successfully transfer from you to a new owner
- Go through your books to make sure all of your financials are in order and provide a clear picture of the business
- Look at your practice through the eyes of a buyer to determine what a first impression might look like
- Get a dental practice valuation to determine a fair market value for your business
Click here to read the full article.
A recent article from Axial entitled “The Trick to Selling your Business: Think Like an Investor” explores the lower middle market and how to make your business appealing to buyers. Middle market firms are growing revenues and growing their workforces, which is a good sign for sellers.
The following insights and tips can help you prepare to sell to an investor:
- Investors want an easy transition
- An advisory team that is familiar with business transactions and the state of the market can be very valuable
- Look at your business as a buyer would, considering its appeal and what value it offers
- Conduct a mock due diligence 12-18 months before going to market
- Develop good relationships with potential buyers
