Business Broker’s Dirty Little Secret

Plan ahead. Before you go ahead and find potential buyers, it would help if you organize updated records of your business history and sales portfolio. You must have income tax returns for the last 3 years and documents showing the profitability of your business. These documents can help in determining the real worth of your business.

Oh Wait! I almost forgot. There is one more problem with either of those options. You see, there is a direct relation to your leadership skills and the value of your company. However, the problem is; now listen to this very carefully: the stronger your leadership, the less valuable your company is in the marketplace without you? Ask yourself this question: If I were no longer here how much business would we lose immediately? Within the first quarter? Within the first year? Starting a business in Thailand know this and they devalue your company based on their perception of your leadership and involvement.

In this situation there are no dumb questions, there are just questions that you do not know the answers too. The worst mistake you can make is to not ask and assume you know the answer. Your assumption could be absolutely wrong and you need to find that out before the purchase. Ask about the success stats they have on Business brokers online new owners and what caused the failures that have occurred. Major franchises have a very high success ratio with new owners. Lesser franchises may have a very spotty record in this area. You need to know before you buy.

Since this business has a high dollar cost to get into, most buyers will need to have substantial funds available or solid financing in order to buy an existing business or start one up. The money sources for this venture can be the current owner, an Internet business lender, your bank, your relatives, loans on property you own or family-money. This purchase is not a small consideration and most likely will take some kind of financing for most new owners. You should be aware of this going in and a discussion with a business broker could help you figure if it is feasible for you to make happen.

He bought the business for more than I suggested because he saw where he could improve the business instantly. The profit turned out not to be $500,000 as the seller guaranteed, but exactly $350,000 as I had determined. David took over sales and marketing and within 1 year had the company profit up to the $500,000 he was promised.

Achieve the highest price through Buyer competition. Since this can be tricky, you are wise to let your broker, as a third party, create a competitive situation with buyers, to position you for the best transaction value.

OOnly large professional firms have videos in their websites. Creating a video is inexpensive and posting it on your website by your webmaster is also inexpensive but ads a nice touch that puts your firm above the rest.

11. Sunshine Coast Business Brokers can advise you on a good strategy for selling your Sunshine Coast Business. This can save you money in the long run.