Know When to Sell Your Restaurant
A commentary by Mike Handelsman of BizBuySell.com
Most business owners will find it hard to consider selling when things are going well, but that could be precisely the best time to get out.
A growing, expanding, smoothly running business will be most likely to attract multiple buyers, creating an auction-like atmosphere that will often lead to a higher selling price.
This article doesn't just apply to restaurants. Read Entire Article
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It's a Seller's Market, According to National Survey
Results from a survey conducted on May 24, 2011 by BizBuySell.com suggest that 2011 may be the time to sell for small business owners.
BizBuySell.com, the Internet's largest marketplace for buying or selling a small business, released the results from a recent survey of the nation's business brokers on the state of the business-for-sale market.
Of the brokers surveyed, 73% said that the number of buyers interested in purchasing a business is increasing, while about half - 54% - said the number of owners looking to sell is increasing. "There are more buyers than sellers. Wealthy buyers are stepping up to buy businesses instead of stocks. This is a seller's market," said one surveyed broker. Additionally, about 66% of brokers said market conditions will improve over the remainder of 2011, and 51% said they expect to see even more transactions in 2012.
"These numbers suggest that there is currently more demand for businesses to buy than supply of businesses to sell," explained Mike Handelsman, Group General Manager of BizBuySell.com and BizQuest.com. "This, plus the fact that the market will likely improve over the course of the year and into next year, means that business owners looking to sell should think about doing so now."
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Selling a Small Business is Unlike Selling Anthing Else You Can Imagine!
Small businesses are sold in an environment that is unlike the selling environment of anything else you can imagine! Sound surprising? After you review the following 10 reasons that make selling a business different than selling anything else, perhaps you will agree.A business sale properly conducted is a business sold for the best price and terms without anyone ever having known it was for sale.
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Ask the experts section.
Q: How can I improve the value of my business without incurring costs?
A: This is a common question from business owners who are thinking about selling. While there are many ways to increase business value without incurring costs, the following quote sums it up in a nutshell. It is relevant to any business and will spark the thought process for a DIY project.
"Every business has something that drains resources without delivering value back. This is dead weight the business is fighting against to stay afloat. Dead weight could be the rock star sales rep of three years ago that now spends more time on Farmville than rainmaking. It could be a product that never launched but is held onto for sentimental value. It could be an expensive vendor that no one takes the time to replace. The dead weight that's the hardest to recognize and drop, though, is a philosophy that no longer matches the reality of the business or its customers." -- Charlie Gilkey |