Topics: exit planning, exit strategy, exit plan, selling my business, Thinking about selling my business, business exit, exit planner, life after my business, retirement plan, life after your business
The market for U.S. business sales is hotter than it’s been in years, according to business sales site BizBuySell. It’s a boom time for selling a business and will likely remain that way through 2016. If you’re a business owner who is thinking about selling or transferring your business to someone else within the next year, you need to start preparing. You want to make sure that you’re ready to sell when the time is right from a market perspective and from a business and personal standpoint as well.Read More
The truth is most owners don't know how much their business is really worth today. They also don't realize that different types of sale transactions bring different values. If you are planning on selling your company internally or externally one day to fund your retirement, do you know how much your company needs to be worth in order to achieve your goals? Do you know what you would likely net from the transaction after taxes and fees? Sadly, many owners don't know the answers to these questions until it is too late.Read More
Selling your business requires the assistance and expertise of professional advisors who specialize in business transfers. However, regardless of the type of sale you are contemplating, the first step is to prepare a Business Ownership Transition Plan TM —a comprehensive written document that outlines how and when the ownership of a business will be transferred to others, either internally or externally, in order to achieve the owner’s goals. This process will assist you in determining the best sale method.
For the first time, baby boomer retirement is the number one reason driving business sales for the Main Street (companies with values < $2 million) and lower middle market (companies with values between $2 million and $50 million) sectors, according to the fourth quarter 2012 Market Pulse Survey Report by the International Business Brokers Association (IBBA) and M&A Source.