02 Jun 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 Mainebiz entitled “How can I get ready to sell my business?” offers advice for business owners who are considering selling the company. A key consideration is preparing for due diligence.
The buyer will want to look closely at every aspect of the business to see if there are any issues. It is wise for the seller to do the same in advance, identify any potential issues, and resolve them before listing the business for sale.
Resolving issues before the sale can be the difference in a buyer moving forward or not, and securing financing or not.
Click here to read the full article.
A recent article from Nation’s Restaurant News entitled “How to sell your restaurant amid retirement, burnout and economic uncertainty” explores key considerations for restaurant owners who are contemplating a sale. While the industry does face challenges, buyer interest remains strong.
Consider the following steps:
- Get your financials in order
- Document processes and recipes
- Assess the condition of the facility and equipment
- Understand your lease
- Seek out an experienced broker
Click here to read the full article.
A recent article from All Business entitled “Thinking of Buying a Business in 2023? Here’s the Market Outlook” discusses the business for sale market as well as advantages of buying a business. There are positive indicators that work in the favor of buyers.
Key market highlights include:
- 42% of business brokers think the market favors buyers and 29% feel it is balanced
- 44% of business owners looking to sell are doing so to retire
- 28% of business owners are speeding up their exit timeline
- Business revenues and cash flows are up
Advantages of buying a business include:
- Existing customer base
- Existing suppliers and vendors
- Trained staff
- Established marketing
- Proven track record
- Existing cash flow
