You have worked hard to build up your business over 20- to 30-years, in order to leave it to your children (who it turns out don’t want it) or to sell it to finance your retirement.  So you value it at what you think it’s worth, including all of your “sweat equity” (I hate that term). Almost every business sale includes a value by the seller which is much higher than the actual value of the physical assets of the business.  If you are the buyer, how do  you know you are not paying too much for the business?
The Secret: …read more

Will your customers remain on board in a business sale?  If you are selling or buying a business, you want to be sure the customers stay with the business.  Before the paperwork is complete, be sure you have worked out a transition plan that will keep the customers smiling and eager to remain.  Particularly in personal service businesses, this is tricky, but there are some procedures you can follow to keep the maximum number of customers.
Case in Point: I recently worked with a friend who has a cleaning business.  Her health is declining and she wanted to sell her business …read more