The National Franchise & Business Opportunities Show 

Closed Transaction 

Buying a Business - Business Acquisitions (The Importance of Understanding Your Cash Flow)  

Selling a Business - Myths About Selling Your Business (Part 5) 

Question of the Month:  I Am a Local Small Business Owner with Only a Few Employees; Do I Really Need a Website? 

Current Businesses for Sale

Upcoming Seminars     

Quick Sandwich Franchise     

The Undersigned Has Acted as an

Advisor to the Vendor

Beal Consultants

Steven Beal, MBA, CGA, CFA, CBV

204-478-7266 ext. 109

www.bealconsultants.ca

Ever bought a house? The math looks good - you have the downpayment, you even know what you will pay in land transfer tax, so you're good, right? Not by a long shot. The closing costs will kill you - lawyer's fees, moving costs, new furniture, painting, and dozens of other new expenses you didn't even think of!

It's the same when you buy a business. The costs you don't know about will be the ones that kill you. Some costs are evident (lawyer's fees), but others can creep up on you unawares (PST, for example). But the real killer can be just the daily working capital you will need to run the business. Many buyers buy a business with barely enough money for the downpayment. Don't fall in to that trap - make sure you understand the monthly cash flow of the business and what you will need to run the business going forward.

Feel free to contact us at 204-478-7266x110.

Over the past five months, we have been talking about the five most common myths that business owners have when they think about selling their business. Last month, we talked about the timing issue. This month, we want to talk about the difference between selling a business versus selling a house.

Preparing to sell your house may take a few weeks, then you want to get the word out to everyone that the house is on the market.  Once you get a satisfactory offer, you sign on the dotted line, turn over the keys and move on. 

Selling a company is much more complex.  A successful business sale usually requires a great deal of pre-planning, possibly up to a year and maybe as long as three years to drive sales, develop key staff, document the operations and control expenses.

The average house will sell in less than four months, while the average business takes nine months to a year.

Even after the business is sold, the seller can be expected to put in at least a few months, and possibly a year or so of transition time, helping to make the new owner a success. Sound sale strategies will bring you the optimum price the market will bear. Go to market with realistic expectations by getting a professional valuation and using a professional business broker. We can help.

If you would like more information on selling or valuing your business, contact us at 204-478-7266 x110.

Specialized Local Trucking/Disposal Bin Business - Conditionally Sold 

Construction and Renovation Company - Conditionally Sold 

Trucking Company - NW Ontario  

Greeting Card Distribution Route - Conditionally Sold 

Plum Creek Gifts - Price Reduced 

Rural Restaurant and Convenience Store  

Swimwear Retail Store - Conditionally Sold 

Winnipeg Convenience Store   

High Volume Retail Chain  

Fitness Studio  

Indoor Tanning Studio and Massage Salon  

Small Town Convenience Store 

Thompson Hotel and Restaurant    

Prepared Fine Foods - Catering, Wholesale, and Retail 

Memorial Retailer - Conditionally Sold 

Addiction Treatment Center

Established Painting Franchise 

   Marine Dealership and Services - Saskatchewan  

    Reputable Accounting Practice Outside of Winnipeg -  

Conditionally Sold 

 Existing Quick Service Sandwich Franchise 

 Web-Based Specialty Food Seasonal Importer & Retailer - Conditionally Sold 

Manitoba Bottled Water Plant & Retail   

Rural Gas Station/Convenience Store - Conditionally Sold 

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To review any of these business profiles, please click  here .

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We do not advertise all of our listings to the public.

If you have a specific type of business in mind,

please call 204-478-7266 x110 to inquire!

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 Beal Consultants Website  

 "A little knowledge that acts is worth infinitely more than much knowledge that is idle"  

  Khalil Gibran   

Question of the Month:  I Am a Local Small Business Owner with Only a Few Employees; Do I Really Need a Website?

 

When was the last time you used the yellow pages to look up a business? We all have phone books, but with today's Internet Age it is often much easier to just go online. People are online now more than ever, and the ease of internet searches means fewer people are looking in traditional advertising outlets for companies.   

Why do you need a website? In today's world, consumers are more and more likely to expect a company to have their own website.  In the eyes of a consumer, having a website is a measure of viability, of stability.  

Despite all the advantages of having a website, many small business owners are not yet online. Perhaps the cost of developing and maintaining a website may seem daunting to many small business owners, but I can assure you, the benefits will definitely outweigh the negatives.

Here are just a few reasons you, as a small business owner, should be online:

• Expanded customer reach - by having an online presence you make yourself available to people around the world, and have the opportunity to gain more customers.
• Affordable and easy to update - a website is an affordable, cost-effective way to advertise your business, specifically if you use social media websites, and is easier to update than print material.
• 24/7 access - having a website allows your customers to gain access to your company's information all day, every day. This will help aide in customer satisfaction.
• Your competitors are doing it - chances are your competitors are online, so you should be too, and if they are not? Then you are ahead of your competition. Having a website will allow you to compete with your larger competitors.
• Attract new suppliers - your website will not only be viewed by customers, but it may also be viewed by suppliers who may request your company to offer their product or service.
• Useful information - having a website allows your customers to gain access to the types of products and services you carry or offer, as well as, your company's information and historical background.
• Credibility - having a website gives your business credibility and makes it more trustworthy. No matter how young or small your business is, a web site can convey stability.
• Market research - you can use your website statistics to gain additional information about your customers, as well as utilize features of your website such as customer comments and visitor polls to gain insight and feedback from customers.

If you are a small business and you do not have a website, you are missing a great opportunity. Small businesses need to take advantage of every possible outlet of marketing to compete in today's competitive environment. So should your business have a website, even if your business is small and sells products or services cannot be sold online? YES! It is 2013; your business needs a website!

For more information, contact us at 204-478-7266x110.  

Beal Business Growth Consultants, Inc. helps owners of small and medium-sized businesses to buy, sell, value, and grow their businesses.  We also work with individuals who are looking to buy or start a business or franchise.

Call us at (204) 478-7266 x110 for a free, initial 30-minute consultation to explore how we can help you buy, sell, value or improve your business.  .

Copyright 2013 by Steven Beal, Beal Business Growth Consultants, Inc.  The information herein is not complete and is intended only to provide guidelines to supplement counsel the reader receives from a qualified professional.  It is distributed with the understanding that the author is not rendering legal, accounting or tax advice or opinions on specific facts or matters, and accordingly, assumes no liability in connection with its use.

Published by Beal Business Growth Consultants, Inc.