Before You Buy — Recognizing Small Business Value Drivers

Before You Buy — Recognizing Small Business Value Drivers

Tips for Buying a Business, Tips for Selling a Business
By The BizBuySell Team Small Business Value Goes Beyond the Financials When it comes to determining small business value, one of the most common question buyers ask is, ‘If I buy this business, how much money can I make?’ Yet, it’s important to look beyond the financial records when determining small business value. Oftentimes, financial records can be inaccurate or incomplete. Furthermore, they are intended to help minimize taxes, not show how well the business is doing. Beyond the financials, here are some key value drivers to consider when buying a small business: 1. The Business Has Been Providing a Steady Income for Several Years A business that has been operating for at least 3-5 years is worth recognizing. This means the owner has been able to make some sort…
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4 Financing Mistakes New Business Owners Make

Tips for Buying a Business
By BizBuySell There are so many components that make up the launch of a new business that sometimes the most important part gets lost in the shuffle: financing. To help set new entrepreneurs up for success, we've outlined four common mistakes that are made when the search for business or franchise funding begins: Not Cleaning Up Your Personal Credit When you're applying for loans or new business credit lines, your credit score will be taken into consideration by lenders. If you haven't demonstrated sound budgeting in the past, it'll be all the more difficult for you to prove your capabilities. Be sure to pay all of your monthly bills on time and minimize inquiries to your credit report in advance of applying for funds. Not Doing Your Homework Many new…
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Should You Sign a NDA when Buying a Business?

Should You Sign a NDA when Buying a Business?

Tips for Buying a Business, Tips for Selling a Business
Loren Marc Schmerler, CPC, APC and President/Founder of Bottom Line Management, Inc. and an expert Business Broker/Business Intermediary says, “Recently, I came across this article “Should You Sign a NDA when Buying a Business?" and from my more then 30 years experience in the Business Brokerage Industry, to protect my Sellers and Buyers I have always insisted upon using NDA documents." Article from GlobalBX and Biz Builder.com, George Massalas There are some steps in the business for sale process that benefit both the seller and you, the buyer. These steps protect the seller from “time-wasting” buyers, and the buyer from acquiring lemons. One of the most important questions when buying a business is “Can I see your financial statements?” Numbers provide vital information to help you decide if you should…
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Take a Small Business Workshop

Take a Small Business Workshop

News, Tips for Buying a Business, Tips for Selling a Business
Can you answer YES to any of the questions below: Are you tired of working for someone else and want to start your own business? Are you already in business, but you want to take it to the next level? Do you want to grow your business to the point where you can sell it for top dollar? Do you want to know how to create “customer loyalty programs” where referral and repeat business lets your business thrive? Do you want to know everything you must do to get your business ready for sale? If so, THEN join us for LIVE, small business workshop, "Maximizing your Bottom Line and Building Sweat Equity" led by Bottom Line Management, Inc. founder, Loren Marc Schmerler and hosted by SCORE North Metro Atlanta, a…
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Get consumers to buy through understanding their reasons for buying

Get consumers to buy through understanding their reasons for buying

Tips for Buying a Business
Bryce Sanders Contributing Writer Jan 30, 2017 BizBuySell The consumer drives the economy. Consumer spending is estimated at 70 percent of GDP. For the health of the economy, the consumer needs to stay in a buying mood. It’s often said the definition of a bargain is when both parties feel they are getting a good deal. So how do you get them buying in your store on your website? How do people decide where to buy goods and services? Advertised discounts — This is the traditional American model. You go to the mall. Jeans are on sale. The price is great! You buy a pair. It doesn’t matter if you have a dozen pair already at home. It was a deal. A memorable line from the CBS TV series The…
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Questions Business Owners Ask Me and the Answers I Give Them

Tips for Buying a Business, Tips for Selling a Business
Loren Marc Schmerler, President and Founder of Bottom Line Management, Inc. contributed “Questions Business Owners Ask Me and the Answers I Give Them” article for Business Broker Press, an organization dedicated to support the business brokerage industry. [ms_divider style="dotted" align="left" width="100%" margin_top="30" margin_bottom="30" border_size="5" border_color="#f2f2f2" icon="" class="" id=""][/ms_divider]   How much is my business worth? The correct answer is the price a Buyer offers you that you are willing to accept. It makes no difference whether you are making money or losing money. It makes no difference whether sales are increasing, declining or flat. It makes no difference how much blood, sweat and tears you have put into your business. It makes no difference how much money you have invested in the business. It makes no difference how much money…
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