Just Because the other guy does not see it, Does not mean it’s not real
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Timing Your Business Sale....Speed and Variables Matter
Timing Your Business Sale: The Exit May 2, 2019 by Michael Shea PA (Edit) Timing the sale of your business is critical. All too often when a business owner considers selling their business, the fail to factor the time it takes to sell and the variables associated with their business. So the purpose of this blog is to set some expectations and give business owners some time considerations as well as some other factors that impact a deal. How Long Does It Take To Sell A Business How Long Does It Take To Sell A Business? The National Average is 8 to 12 months. I have sold one in as little as 5 days but that is far from normal. Why so long? Well lots of reasons ranging from overpricing, bank qualification, immigration delays, interest rate changes, due diligence discovery issues, and a million others. Also, keep in mind there are seasons to things both in the short term (summer, fall, holidays) and the long term (election years, Brexit, recessions). As a busin...
Grading the Business You Want to Buy
Let's get one thing straight right now. If you are looking for the perfect business, stop looking, it doesn't exist. And if you really want to buy a business you need to settle! That's right buying a business is a lot like being in a bar at 2am...ponder on that for a moment. Seriously all businesses have their drawbacks, risks, pain points, skeletons in the closet and warts. Your job is to find them all, understand them completely, decide if you can manage them and if they will stop you from buying. Let look at some of the business attributes you will want to rate: Income - This is my number 1 concern. You are not buying a hobby, you want to buy a future income stream. So you want to know if it is provable, sustainable, and can you grow it. Length in business - I love businesses that have been around for more than 5-10 years. You should too. Cu...
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