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For More Information Call:

Eric Wayne
United Realty Group
12323 SW 55th Street,
Suite #1002
Cooper City, FL 33330

Cell: (954) 562-2019
Fax: (954) 775-3747

E-mail: EricWaynePA@Gmail.com

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Press Releases by Eric Wayne

Get Expert Advice From a Business Broker to Sell Your Business in This Downturn

Selling a business should never be taken lightly. In this recession, working with a business broker can help a business owner tap into the vast resources that they have available. In such a scenario, if you are considering putting up your business for sale, you should seek expert advice of a reputable business broker.

An experienced business broker will guide you through every step of the process, from determining the most probable selling price to sifting through the list qualified buyers. Many business brokers are licensed real estate agents, and their experience will come in very handy when you put your business on the market.

A business brokerage firm can lay out the whole business selling process in front of you even before you can think of the first step. Business brokers also have a list of buyers in their databases which it can match with your requirements. Such preparation on part of the business brokerage firm saves you the time and effort that goes into looking for the right buyer. Business brokers also possess strong negotiating skills, which will be very useful in getting you the best price for your business during a downturn.

Finding the right business broker and using expert advice from him/her will help you sell your business and overcome the disadvantages of the current recession.

Eric is a sales agent with United Realty Group with over 25 years of previous management experience managing Fortune 100 Companies. With proficiency in sales and marketing and his experience in starting up, building, and managing several successful companies, Eric has the ability to get the job done on time and within budget.

United Realty Group offers expert advice to both buyers and sellers of business through its experienced network of business opportunity specialists.

Aug 20, 2012

Selling Your Business: Know What Buyers Are Looking For

Selling your business does not have to be complicated but it is a process that is unique and one that most business owners don't have much experience with.

What Buyers Want in a Business

Business buyers are a fickle bunch. Most of them (some say as many as 90%) will never actually buy a business. The role of the business broker is to distinguish the serious buyers from those that are "window shopping". This is a critical role that a business brokerage plays. The focus of this article is to examine some key elements that most "serious" buyers look for in a business for sale.

Historic cash flow

There is an expression that says "cash is king". This is a very true statement if you are considering selling a business. Buyers are very interested in firms that have a strong track record of historic earnings and cash flow. If you are an owner thinking of an exit plan for your company, take a look at the past two to three years of your financials. Determine what the cash flow is. If you need help, talk to your accountant or business broker for assistance. It is very difficult to sell a venture that is losing money or one that is only marginally profitable. Too often, brokers hear that an owner wants to "sell my business - but it has potential". Potential is great, but there must also be cash flow.

Is the cash flow sustainable?

A buyer is not only interested in how much historic profit a business generates, but is more so interested if the earnings are sustainable. A buyer will be interested in a firm that has an excellent earnings history only if he or she believes that they can buy the organization and not have the profits evaporate once the sale closes.

Is the business priced right?

If a business has strong historic earnings, sustainable returns and is easy to transition - but is not priced properly - then the business will be difficult to sell. Getting the valuation (or listing price) correct for a business sale is critical. Example - if you own a small shop that generates $75,000 in earnings every year to an owner/operator and you expect to ask a $1,000,000 price, this will be extremely difficult, if not impossible, to sell. Consider that most small firms are currently valued at 2-3x 'seller's discretionary cash' when you think about a selling price. If you need help, talk to a broker or a business evaluator to assist you. If you are serious about selling your company please be realistic about the asking price.

Potential

Don't approach an intermediary with "I'm thinking of selling. My shop earns me about $50,000 every year but it has potential, so I'd like to ask half-a-million dollars for it". Potential needs to be a given during a sale. Buyers expect potential. If there is none, then it will be very difficult to sell your business. If that is all you are offering though, you need to re-examine your sales strategy very closely. Buyers will naturally ask if there is so much potential in the business why you haven’t done anything with it yet. This is a very important point.

June 15, 2012

How to Sell a Small Business - Know What You Are Worth

What if you discovered how easy it is to sell your business if you have these components in place?

Here are 3 simple steps to get you started...

Step 1 - What is the income of your small business?

Step 2 - Do you have traffic and products that sell like crazy?

Step 3 - Now your business will sell by itself.

Here are step by step details that you can apply quickly and easily...

Step 1 - What is the income of your small business?

Do you know how the value of your small business will be calculated when you are planning to sell it?

Here's how it will get done. You will receive twice or even thrice of the annual net profits that your small business is earning. If suppose you are earning $10,000 net profits annually you can expect to receive up to $30,000 when you sell your business.

Here's how to go about increasing the value of your business...

Step 2 - Do you have traffic and products that sell like crazy?

Traffic is the key to success of any business whether it is online or offline. Therefore you have to focus in building organic traffic that comes to your website every single day if you want more value out of your site. Also make sure to have quality products in your sales funnel to increase the market value of your small business.

Step 3 - Now your business will sell by itself.

Once you have the above components in place your business will literally sell itself because big named companies are hunting for profitable businesses that they can purchase which has ready made traffic and product base. Make sure you read this article and get started today as this will take your online profits to new heights. There has never been a better time to get started than it is today.
Nov 2, 2011

Avoid Common Problems When Selling Your Business

Here are 10 common mistakes you can avoid when you go to sell your business. In today's troubled environment, buyers are especially skeptical. You can make your business stand out by taking the extra steps named here. Mistakes you want to avoid include:

1) Not committed to the process- are you and your spouse ready to move on? Are there any partners that need to be convinced? Do you have an ongoing business that is easily identifiable and is legally able to be sold?

2) Poor Packaging of the Business- you're selling a financial asset. Does it look like one? Will a potential buyer see the dollars that your business generates? Make sure the income and assets are readily recognizable and verifiable.

3) Unsupportable Price for the Business- looks at the cash flow, assets and industry to determine a realistic price on your business. Make sure your price is defensible and that you've used sound logic and industry practice to arrive at your price.

4) Marketing Your Business in the Wrong Places - make sure the right people know about your business, understand its value and can get excited enough to contact you. There are other businesses for sale, why should someone buy yours?

5) Wasting your Time with Unqualified Prospects- less than 5% of potential buyers actually buy a business. Of those who did, almost none of them bought a business in the first industry they reviewed.

6) Letting the Business Slide while you deal with potential buyers- remember, you're selling a financial asset. If your sales or profits drop while you're managing the sales process, it could impact the value of your business.

7) Poor Sale Management- once you get an offer and agree on a price and terms, the hard work starts. The due diligence process when selling your business takes time, and this is best done with the assistance of a business broker.

8) Lack of Flexibility- what looks like a good deal to you might not look so good to a potential buyer. Most business don't sell, they just close their doors. Keep an open mind to things like seller financing, and different terms to make a deal.

9) Mismanaging Inventory- the buyer expects a certain amount of inventory at closing. You need to make sure the buyer has the right expectations on what is current and what is probably not going to sell.

10) Not using a professional business broker- if you look at the previous nine mistakes, the biggest one could be trying to do it yourself. Your business is a complicated asset that requires a lot of work to generate the most value. You need to run your business till closing to get the most out of it. Use a professional business broker to help you.
May 5, 2010

Selling a Small Business With a Business Broker

If you are a business owner thinking that the time is right to sell, there are a few options that are open to you. Usually though, it boils down to selling the business privately or using the services of a business broker. This article will focus on a few items to bear in mind if you do decide to sell your business with a business broker.

Patience. It takes time to sell a business. Most reputable business brokers are constantly being approached by small business owners who would like to sell a business. Unfortunately, many of these businesses are losing money or are very difficult to sell for a host of other reasons. Business brokers usually turn down more business listings than they take on. Even with this being the case, it usually takes several months for a business brokerage to find a buyer for a company listed for sale. Many times, business owners that have "just listed" their business with a professional business intermediary expect rapid response and a lineup of buyers hoping to view the business. Things don't usually work this way, unfortunately. If you have decided to list your company with a business brokerage then there are many positive benefits you can expect from the relationship. However, please do be patient.

Multiple Showings. After you enlist the services of a business brokerage to sell your small business, don't expect the first buyer to be shown your business to be "the one". Often, it takes showings to 10-12 different 'qualified' buyers before a purchaser of found. Sellers tend to get excited at the first showing of the business to a prospect but the reality is that it many take many different people to see the business. There are times, however, where the first person who sees the business ends up buying it so please take these comments with a grain of salt.

Expect False Starts. Selling a business sometimes means being expected for a few false starts. When a business is sold, the first step is (usually) the conditional sale agreement. Typically then, buyers enter into a conditional due diligence period where the operations and financials of the business are scrutinized. In this scenario, the business buyer can walk away from the deal at any time. Sellers are usually quite disappointed if this happens since they put so much time and effort into the deal and now they must start again at square one and start the process over to find a new buyer.

Deal Must Be "Win Win". In a business sale, the dynamic between the buyers and the sellers must be such that both parties to the transaction feel comfortable with the terms. Unlike some real estate transactions, a business sale must not be confrontational in order to successfully come to a close. The process in a business transaction, especially small business sales, can be quite emotional. The buyer must feel good about the seller and vice versa. The process is much too long and there are too many "outs" along the way for both parties that if a confrontational or aggressive negotiating stance is taken that the deal process could potentially fall apart. The role of the business broker is to 'reign in' the emotions of both sides. Be prepared for frank discussions with a business brokerage professional if negotiations (or emotions) get heated.
Feb 25, 2010

Things To Do When Selling Your Business

Running your own business is a truly satisfying experience, as most people who have done it will confirm. The "buzz" you get operates on a number of levels, not least of which are the feeling of being your own boss and in control of your own destiny, and the challenge of driving the business forwards, thinking of the next idea to give you an advantage over your competitors.
However, nothing is forever. Eventually you will reach the time when you want or need to dispose of the business, and then you will need to devise a suitable exit strategy. Assuming that your company is generating healthy profits, your exit strategy will probably entail selling a business, rather than winding it up - at least, that is the assumption behind this short article.

I think we all probably realize that when we are buying a business we need to employ professional business transfer agents. After all, there are all the legalities to attend to, the searches, valuations and negotiations. Perhaps it is not quite so obvious that we also need professional help us to dispose of a business, but that is certainly the case if we want to employ the best possible exit strategy, and maximize our return on the disposal.

Just as you need to carry out a thorough review of a business before you give serious consideration to buying it, you need to go through a similar process before selling your business.

How much is your business worth?
How will the sale of the business affect your personal taxation situation?
How will the sale of the business impact on your pension arrangements, and what do you need to do to safeguard your pension?
These are just three of the considerations that you will need to take into account, and it is vital that you get the best possible advice on all of them.

You will need a good accountant who is experienced in working on selling a business to examine your accounts and give you informed advice. You will need to ensure that you have filed your statutory accounts up to date, but any prospective buyer will also want to see monthly management accounts and asset registers for the period since the last statutory accounts. This information will enable them to see the up to date financial situation of your business, and satisfy themselves that the business has been run in a professional manner. They will also want to see forecasts of future profit & loss and cash flow.

Of course, a buyer will want to see that your business has been generating healthy financial results. If your company is a loss making concern you will find the process of selling a business much harder.

Sound personal taxation advice is very important if you are to maximize your financial position as regards the sale. Capital GainsTax rules need to be taken into account fully, as do the regulations as regards Trust Funds. Changes to the relevant regulations take place quite often, and you will need an advisor whose knowledge on these matters is right up to date.

Personal pension rules are also constantly changing, and it is very important that you obtain sound advice on these matters before devising a business exit strategy. After all, you will definitely want to safeguard your future pension prospects to the best of your ability!

It will take quite a bit of time to put into place an effective exit strategy for selling a business and carry it through. You should anticipate that the process could take several years. This includes a period of time to make sure that the company's profits are maximized, thereby enhancing its appeal to potential buyers.

There is no doubt that selling a business is extremely complex, and is probably one of the most important processes that you will experience in your working life. It therefore makes sense to ensure that you employ the best possible expertise to guide you through the devising and implementing of an appropriate business exit strategy. An experienced firm of business transfer agents will certainly be able to smooth your path through this process. They can help you to evaluate the worth of your business, and to implement a business exit strategy that is designed especially for you. Additionally, they can ensure that you receive the best possible advice throughout the process.

When it comes to negotiating the deal they are there to ensure that your interests are safeguarded and drive the deal through to conclusion, leaving you to wonder what you were worried about!
Aug 21, 2009