If you are a business owner contemplating a sale somewhere in your future, consider these common misconceptions about selling your business.
Summary of tax code changes in the American Taxpayer Relief Act of 2012
For inexperienced or first time buyers, having a buyer broker may give them confidence about moving forward on a business deal. Buyers should make sure they have the right broker representing them: buyer side brokerage is VERY different than seller brokerage. Seller side brokers’ job and fiduciary responsibility is clear to all parties: their job is to package, market and sell the business for the best terms agreeable to the seller. It may appear that a buyer broker is acting as the counter point but just be aware that you may be asking them for expertise beyond their skill set or creating a conflict of interest between their benefits and your needs.
Buying a franchise does not reduce risk or mitigate the need for a thorough analysis, but unfortunately many franchise buyers assume that a franchise is a low risk concept and the operational systems are a guarantee of success.
When is too late? If you have only weeks or months left before you are forced into bankruptcy there may be little a broker can do. A quick closing can still take many months between due diligence, financing and drafting sales agreements. Generally selling a business can take one to two years--especially if the business needs to be prepped. All things being equal, you will be better off selling your business before it peaks, rather than after.
Acquire a well-established specialty construction services business with a defensible market niche, experienced workforce, strong demand drivers, and significant opportunities for continued growth.
9.24.26 6:00PM Basics of Buying and Selling a Business. Portland, ME. Thursday September 24th.
This workshop will help you navigate the sale or acquisition of a business.