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 Transworld Business Advisors entitled “Selling Your Business” discusses the process of selling a business. This can certainly be very complicated, however there are ways to simplify the process.

Consider the following steps:

  1. Determine your reason for selling – it is important to acknowledge why you want to sell
  2. Confer with professionals – utilize the experience of a business broker to manage the process
  3. Organize your finances and properly package your business for sale – understanding the financial position of the business is critical for both the seller and the buyer
  4. Understand the value of your business – a business valuation tells you the true worth of the business so you know how much to list it for
  5. Confidently market your business – getting the business in front of many buyers is key, yet this must be done in a way the protects the business

Click here to read the full article.

 

A recent article from Exit Strategies Group entitled “New law exempting M&A Advisors from SEC registration is welcomed by small businesses and those who depend on them” discusses recently passed legislation with significant impacts for business brokers and M&A advisors. This legislation is the Consolidated Appropriations Act, 2023 (H.R. 2617).

H.R. 2617 includes a provision exempting M&A brokers of small businesses from federal broker-dealer registration. The law defines small businesses as those with up to $250 million revenue or $25 million EBITDA. It also applies to change-of-control transactions only, not equity securities offerings.

This is a benefit for brokers, sellers and buyers because it eliminates regulatory burden, reduces costs, and gives sellers & buyers more flexibility in who they can work with.

Click here to read the full article.

 

A recent article from Entrepreneur entitled “Which Franchise Is Right for You? Start By Evaluating Your Goals.” offers advice for prospective business owners who are trying to decide the right franchise for them. There are thousands of possibilities, and a good strategy can help you narrow it down to the right one.

It is wise to use a goals-oriented approach. This involves creating a goal map and then identifying which franchise opportunity best aligns with your goals. When creating your goal map, consider the following questions:

  • What do you want out of life?
  • What are you willing to give up?
  • Do you want to make millions and accumulate generational wealth, or will a nice income suffice?
  • Do you want independence?
  • Do you want stature in the community?
  • Do you want to pursue a more personally satisfying career?
  • Do you want to cash out of the business after five years? If so, for how much?
  • Are you looking to retire somewhere tropical and luxurious?
  • Are you looking for a business you can build and then pass on to your heirs?

Click here to read the full article.