Around the Web: A Week in Summary

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 Comstock’s Magazine entitled “What It Takes to Sell Your Business” offers advice for main street and lower mid-market business owners to successfully sell and exit their business.

Six steps to selling and retiring include:

  • Know your numbers
  • Separate your identity from your business’s
  • File your taxes properly
  • Set your buyer up for success with proper documentation
  • Make a plan for personal fulfillment after retirement
  • Calculate your sale to live comfortably

Click here to read the full article.

 

A recent article from Forbes entitled “Should You Buy A Franchise Or Start Your Own Business?” discusses the pros and cons of purchasing a franchise and the pros and cons of starting a business from scratch. The best course of action will depend on the individual and their skillset, preferences, etc.

Pros of buying a franchise include existing brand recognition, tools, systems, manuals and support.

Cons of buying a franchise include the inability to do everything the way you want to, royalties and fees.

Pros of starting a business include having total control over everything, greater flexibility and creative freedom.

Cons of starting a business include having to figure everything out yourself, starting from zero and a longer path to establishing a presence.

Click here to read the full article.

 

A recent article from Forbes entitled “Questions To Ask Yourself Before Selling Your Business” explores important components of preparing for a liquidity event – aka selling your business. It’s important to ensure your post-sale goals and reality are aligned.

Consider the following questions:

  • How much is your business worth?
  • How much do you need to fund your lifestyle post-sale?
  • Does the value of your business and your desired sale price match up?
  • What potential options exist beyond selling or holding?
  • Why do you want to sell?

Click here to read the full article.