September 2014 - Beal Consultants Advisor

The Beal Business Advisor

September 2014

Contact Number: 204-478-7266

In This Issue

Upcoming Seminars
Buying a Business - Competitors
Selling a Business - Myths About Selling Your Business (Part 3)
Question of the Month - Developing a Unique Selling Proposition
Current Businesses for Sale

Competitors

Last month we discussed marketing, this month we want to discuss competitors.

Some of the key questions you want to explore with any business you are looking to acquire include:

- Who are the business' competitors?

- What is their market share?

- What are each competitor's competitive advantages/disadvantages?

This information will help you understand the strengths and weaknesses of your potential business versus the competitors.

Next month we will discuss business website issues.

In the meantime, if you would like more information on buying a business, contact us at 204-478-7266x110.

Myths about Selling Your Business (Part 3)

Myth #3 "I Know What it's Worth"

We are half-way through our top five myths that business owners have when they think about selling their business. Last month, we talked about the difference between selling a business versus selling a house. This month, we want to talk about valuing your business.

Some owners will base the company value on what they need for retirement. Others will tell you they want $100,000/year for "sweat equity." Still others utilize industry multiples.

A third party valuation is a good idea for anyone seriously considering the sale of their business. An outside valuation will include a thorough analysis of the business and the market it operates in. This will provide a solid understanding of the company's growth potential, not some vague industry average. We can help you with this process, accessing information on comparable businesses and a detailed understanding of your business and its financials. Need help selling your business or knowing its value? Give us a call.

Next month's myth: - "I'll sell when I'm ready"

In the meantime, if you would like more information on selling or valuing a business, contact us at 204-478-7266x110.

Current Businesses for Sale

Window Installation Business

Fitness Facility

Winnipeg Tailor Business

Electrical Estimating Service Business

Professional Services (Conditionally Sold)

Rural Restaurant

Electrical Contracting Business

Winnipeg Automotive Service Centre

Franchised Foods Retailer

Convenience Store (Northern Manitoba)

Winnipeg Catering Business

Winnipeg Pharmacy (Conditionally Sold)

Franchise - Tanning Studio

Small Town Dollar Store

Winnipeg Meat Shop - Grocery Store

Bridal Shop

Metal Fabrication Business

Small Town Grocery Store/Meat Shop

Automotive Repair and Power Product Dealership

Trucking Company - NW Ontario

Plum Creek Gifts

Winnipeg Convenience Store

High Volume Retail Chain

Thompson Hotel and Restaurant

Print and Online Publication - Business Opportunity

Employment Service - Franchise Opportunity

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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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Quick Links

Beal Consultants Website

Quote of the Month

"It is our choices, that show what we truly are, far more than our abilities."

J.K. Rowling

How do I Develop my Unique Selling Proposition (USP) and Why is it Important?

A unique selling proposition (USP) is a phrase used in marketing communications that differentiates one product from another and ultimately convinces the customer to purchase from you.

The first step to developing your USP is to identify the unique benefits of using or owning your product. Identify the uniqueness of your product, your offer and your guarantee. Also identify negative customer experiences in your industry as a way to understand what your target market values most!

When preparing your USP, keep it short, simple, easy to recall, and incorporate the unique identifiers and ways your business can make customer experiences more positive than the industry standard.

The recent trend in designing USP's has been to write them so that every customer feels like they are being spoken to - it is a technique termed mass customization. The prior trend was to write them so that customers felt they could aspire to be something/someone if they used/purchased the product.

Have fun writing yours!

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

About Us...

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.

Legal

Copyright 2014 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.