07 Oct 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 Market Watch entitled “Retiring from your small business? You need a good exit strategy.” discusses the importance of exit planning for baby boomer business owners heading towards retirement. Proper exit planning maximizes the value of the business, minimizes tax burdens, and fulfills the goals of the owner.
Exit planning essentials include establishing the value of the business, having thorough accounting, and understanding contract options.
Exit plan options include staying on as chair and having management run the business, transferring ownership to employees or family, or selling to a third party.
Click here to read the full article.
A recent article from Total Food Service entitled “How To Successfully Position Your Restaurant For Sale” offers tips for restaurant owners who might be considering selling the business. This can be a difficult task for many reasons, so the better positioned the business is, the greater the chances for a successful sale.
When approaching the sale of a restaurant, consider the following tips:
- Maximize value by selling when there are consecutive years of revenue growth
- Utilize a business broker
- Be realistic about the selling price
- Maintain your equipment
- Keep a strong online presence
Click here to read the full article.
A recent article from Teton Gravity Research entitled “Consider Working With A Business Broker When Selling Your Business” discusses the benefits of utilizing a business broker for the sale of your business. This is a complex process with high stakes, and a business broker can help,
Business brokers can be of great value in several ways such as:
- Avoiding common pitfalls and mistakes
- Maximizing the sale price
- Tax planning
- Paperwork and formalities
- Marketing to buyers
