Category: Buy a Business

Business Brokers: Should You Be Selective? Should business brokers be selective when considering taking on an assignment to sell a business? The short answer is, “Heck yeah!” But while the “short” answer might be yes, little in our business can be reduced to one word. Early in your career the

Letter of Intent: Lots of Questions Wow! Last week’s letter of intent post certainly struck a nerve! That post focused on an LOI’s “no-shop” clause because it was an issue that caused significant agita for one of our brokers a while back. But the general topic of letters of intent

Letter of Intent: The “No-Shop” Clause A letter of intent – the LOI – from any knowledgeable buyer will often include an exclusivity period meant to restrict the seller’s ability to continue marketing the business to other buyers. We refer to this as a “no-shop” clause because the seller is

Business Brokers: The Importance of Co-Brokering Business brokers and co-brokering. Anyone that has gone through our course or who has been trained by me or anyone in our network, knows how much importance I place on co-brokering. In our course on becoming a business broker, we devote an entire lecture

Selling a Business to the Employees: ESOPs Two weeks ago, my post was about selling a business to the business’ employees. In that post I gave a passing mention to selling a business using an ESOP, an Employee Stock Ownership Plan. From the reaction to that mention, it appears that

Selling a Business: Two New Considerations As if there wasn’t already enough agita-inducing complexity in the process of selling a business, two new issues have been added to the mix. One, hopefully, will be banished in a few months. The other may not be. The first, of course, in the

Selling a Business to the Employees Though not too many owners think of it, selling a business to the employees is a legitimate option as an exit strategy, particularly during this time of business uncertainty caused by the current pandemic. One reason, of course, is that the employees are likely

Is Now The Right Time to Buy a Business? Wow! Did last week’s post ever open up a box of worms! That post addressed a question we get all the time. “Is now a good time to sell my business?” (And for those of you who haven’t read it yet,

Is Now the Time to Sell My Business? Of all the questions we get asked, the most frequent one lately has been, “is now the time to sell my business?” The first couple of months of 2020 were pretty positive for most businesses and most sectors. Low interest rates, plenty

Selling a Business: Tire Kickers Whether you’re a business broker or business owner, when selling a business tire-kickers can waste a lot of your precious time. Selling a business can be a time-suck under any circumstances and no one wants to have their time wasted by people that are, if