Business Brokerage, Buying a Business, Features, Selling a Business
Want to Sell Your Business? Then Think Like a Buyer!
March 3, 2010 by Kyle Griffith · 1 Comment
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There are many things that come into consideration when someone is thinking about buying a business. Statistics reveal that out of about 15 would-be business buyers, only one will actually buy a business. It is important that potential sellers be knowledgeable on what buyers go through to actually become business owners. This is especially true for those who have started their own business or have forgotten what they went thorough prior to buying their business.
If a prospective business buyer is employed, he or she has to make the decision to leave that job and go into business for and by himself. There must be enough cash flow available to service the debt of the business. Sellers must understand when a potential buying is considering to purchase their business that after the business debt is paid there must be enough”meat to live off of”. Also the new owner will likely need to execute a lease or assume an existing one, which is another financial commitment. These financial obligations are almost always guaranteed personally by the new owner.
The prospective business owner must also be willing to make that “leap of faith” that is so necessary to becoming a business owner. There is also the matter of family and personal responsibilities. Business ownership, aside from being a large financial consideration, is very time consuming, especially for the new business owner.
There is a lot to think about when it comes to purchasing a business.
All of these factors have to be weighed very carefully by anyone that is considering business ownership. Buyers should think carefully about the risks – and the rewards. Sellers should also put themselves in a buyer’s position. The services of a professional business broker or intermediary can help determine the relative pros and cons of the transaction.
Make use of the services of a qualified Certified Business Intermediary, they can assist you determine your business’s value, create a comprehensive marketing plan to attract qualified buyers, and negotiate on your behalf to maximize the price and terms of your transaction. If you are in the New York area I highly recommend you give New York Business Brokerage a call at 1-631-247-6999 to schedule a free no obligation complimentary business value assessment. NYBB Inc will provide you with a highly credible assessment of your business’s value.
Also you can visit WWW.IBBA.ORG and search for a Certified Business Intermediary in your area.
What is a a Certified Business Intermediary? Click here for more info on:
The Value of a Certified Business Intermediary.
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