|Small Business Information|
Buying a Business
Start thinking about buying an established business if you want to avoid the immense risks involved in starting one. Not everyone wants to start a business from scratch, and buying a business with the infrastructure in place lets you focus on building it up, as opposed to getting a new business off the ground. This is not to say that it's easy to buy an existing business; it's a fairly complicated process throughout which you need to know exactly what you're doing.
First off, decide that you do want to buy before you begin your research. This way you will look at options more carefully. A particular business may not be exactly what you're looking for, but if you're sure that you do want to buy, then you won't brush it off immediately, without first considering how you might grow with it. Vested Business Broker's deals with a wide range of businesses and will surely help you make up your mind quickly.
Talk to the people in your life who are likely to be affected by the venture. Let them know the hours that you are likely to have to work and the risks involved. You might need their support if you initially go through a rough patch.
Using a Broker
It would be more prudent to use the services of a broker in buying your business. All the important groundwork in terms of research would already have been done. And, you can focus on finalizing the deal.
A broker will handle all those complicated negotiations which you may just find too much to handle. And, when things turn unpleasant you can leave it all to your broker.
Brokers are supposed to have systems in place to take care of deals. The sale is usually a time of some stress for both the buyer and the seller, so having someone to put everything together and take care of the paperwork is very helpful. You will appreciate a broker's services as it will allow you to concentrate on getting a worthwhile deal, and not have to worry about whether all the documents -and there are a lot of them- are in order.
Of course, your broker will charge you a substantial commission, but it will all be worthwhile if you get the deal you want. Vested Business Brokers can be counted on to take care of the nitty-gritty that ensures a successful deal.
Once you figure out your particular area of interest, think about the size of the business that you want to buy, the location of prospective sellers etc. Know your financial resources so that you don't waste time looking at businesses that are beyond your reach, even if you have always fantasized about being a ship-builder.
Identify your strengths. Are you good at sales? Operations? Look out for a business that is in a position to benefit from your particular strengths.
Once you've identified a business that you want to buy, make contact with the seller but hire professionals i.e. accountants, attorneys, etc. to take care of different aspects of the purchase. Using Vested Business Brokers services would surely help you narrow down your search and identify all the expertise you might need to close the deal successfully.
Allow yourself a gut instinct about the seller and the business. Feel free to ask why they want to sell the business, and evaluate your decision based on their reasons. It might just reassure you that you should go ahead with the deal.
There are many methods of valuing a company, and it is up to the seller to decide how to go about it. Make sure the price is a fair representation of how valuable the company is likely to be to you. It is obviously disadvantageous to you if a non-performing company that is heavy in assets is priced based on the net value of its assets.
The asking price is negotiable. Even in a situation where the seller is firm on her price, enquire as to the method of valuation and challenge it if you think it leaves you with an unfair deal. While negotiating, be prepared to challenge the seller with facts and statistics.
Find out what specific concerns the seller has about the deal, and address them. Be sensitive to the fact that selling a business can be an emotional process but at the same time make sure that you don't end up paying for its sentimental value. With Vested Business Brokers you can be sure to get yourself a fair valuation of the business of your choice.
Financing the Deal
To finance the deal, seller financing is probably the best option available to you. You won't get a bank loan without offering a 100% collateral. The Small Business Administration does offer some financing but only for deals that meet a strict set of criteria.
The good thing about seller financing is that it shows that the seller is being serious and honest about the deal, and is not trying to offload an ailing business onto you. It shows that he has enough faith in the business he is selling to share the risk involved in running it with you. There's no better way to be sure that a business is really worth buying. Seller financing also allows for far greater flexibility than any other kind of financing.
Most people who start looking for a business to buy never actually end up buying. If your first deal doesn't come through, don't let it deter you from looking for other businesses. Learn from the experience and use it to sharpen your skills so that the next time around, you know exactly what you want and how to go about getting it. Vested Business Brokers can offer you a range of financial options.
Vested Business Brokers offers all services required in buying a business:
1. Initial Consultation - You will have a one-on-one via phone or in person with a broker in your area to discuss all of your questions and concerns regarding the business buying process. Our brokers are trained to help you with business concerns as well as personal concerns. We realize that this is not only a financial decision, but a lifestyle decision as well.
2. Buyer Profile - Once all of your concerns have been addressed and you have signed a buyer registration agreement, your Vested Business Broker will create a buyer profile by which he/she can search for the exact type of business you are looking for.
3. Viewing Listings - Once we have entered your criteria into our database, our computer will generate matches. Your Vested professional will then go with you to take a look at the listing and address any questions you may have.
4. Offer To Purchase - If one of these businesses fits what you are looking for and you have had a chance to think about making an offer (sometimes you may have to make several visits to the business to be certain), your broker will help you fill out an offer sheet. This sheet details the price and terms at which you would like to purchase the business. Here the experience of your broker will help you in making the best offer. In addition, Vested offers financial services that can help make a deal happen, even if you are short of funds.
5. Due Diligence - Once the offer has been accepted, the buyer conducts a period of research on the business. Basically, due diligence is the process by which you work with the seller to verify the financials of the business as well as a period in which you learn the inner workings of the business. This process typically takes two weeks. A buyer may want to bring in his/her attorney or CPA to help during this phase of the purchase. (We have many relationships with excellent professionals, if you need a referral). Your broker will be available to assist you in the due diligence process in every way.
6. Contract & Closing - Following a successful due diligence period in which all of your concerns have been addressed, a contract will be drawn up between yourself and the seller of the business. Typically this is done between your attorney and that of the seller. (Again, Vested has relationships with many attorneys if you need a referral). If the contract meets all contingencies you have set forth, it can be signed and a closing date set. At closing, the business will officially change hands and you will have completed the buying process. Keep in mind that our brokers are here for you every step of the way to ensure that you are making informed decisions.
The process doesn't end at closing. Vested has developed relationships with many business service providers to offer new business owners services that are vital to the success of their businesses.
At Vested Business Brokers we have enough experience in putting together successful deals. Our web page is http://www.vestedbb.com
We assist to buy a business, sell a business and to be a business broker. Get the deal you want with Vested Business Brokers.
Want to Grow Your Business? Make an Irresistible Offer
My clients and many of my readers are small and home-based business owners, and one of the biggest struggles they face is getting new customers.
Small Business and Branding ? Why and How?
When we speak of branding most of the time people try to relate it to big business house, however, the fact is that every business needs to establish their brand in order to survive the competition. This is nothing new; experts and management gurus had been preaching the same sermon for years now but what they have not told is why you need to brand your small business? How is branding going to help you to establish your business? How can you establish your brand without spending a fortune on it?
Small Business Vendors; Getting the Best Service
If you are a small business you know that you must rely on your vendors to make sure you have everything your customers need. Lack of vendor support can lead to upset customers or even loss of your business. Be pleasant and courteous to all vendors and potential vendors. Try and treat vendors like your favorite customers treat you. Do you remember recently when you went out of your way for a customer, the whole time knowing you weren't going to make any extra money by doing so; yet you did, simply because you liked that particular customer. That customer; whether you know it or not, probably told five friends of your gallant effort; something you may not even have thought about. This type of extra concern and effort is hard to come by these days from local business people. You will, from time to time, need this type of gallant service from your vendors, so start now by being extremely pleasant to those you do business with. Remember, also to refer your customers to your vendors whenever the opportunity arises.
How to Curb Antique Shop Theft Inexpensively
If you have ever had your antique shop or mall ripped off, you understand that it's very hard to detect. There are simply so many items to keep track of, and an item can be missing literally for months and you may not realize it.
Are You Ready to Own and Operate a Business?
How often has someone thought of starting a business based solely on the fact they think it will be easier than working for someone else. Fact is, owning and operating a business can be one of the most grueling experiences you will have. Granted, there are many advantages, but unless someone has actually run a business there is much to consider before you make that decision.
Going Public by Way of Regulation D (504) Offering
Under the Securities Act of 1933, any offer to sell securities must either be registered with the SEC or meet an exemption. Regulation D (or Reg D) provides three exemptions from the registration requirements, allowing some smaller companies to offer and sell their securities without having to register the securities with the SEC.
A Lesson From ?The Apprentice? That Can Make You A Master
I have to admit, I was curious. When I saw previews of a new show called "The Apprentice," it made me want to at least watch the premiere to see what was going on. Immediately, I was hooked. The whole idea of candidates - from all walks of life, not just college grads fresh from their commencement ceremonies - vying for a position in one of Donald Trump's organizations piqued my interest. What kept my interest were the real-life advertising lessons every business owner needs to be reminded of.
Administration Of Your Small Business
You've been meaning to tend to the administration part of your business, that is, the growing list of things to do that relates to your small business. You've shoved all other appointments aside and starts getting down to working on the nitty gritty details, you're ready to go all out and tick everything on the list off! But where in the world is the list?
Keeping your Business Alive
As long as you eat and breathe you will stay alive. But is that really living? In a crisis that may be enough. If your business is in crisis - deal with it. But the secret to keeping your business alive is growth.
The 5 Traits of Baby Boomer Business Owners
As a practitioner and student of Small Business Marketing, I was recently contemplating ways to enhance my business. I found it fascinating to realize that over 95% of my customers and hot prospects were Baby Boomer's who own a small business.
Mobile Detailing VS Fixed Site Detailers
Mobile detailers will find themselves with lots of competition even if they do not see them around town. There are also many fixed site detailers who specialize in wholesale detailing or the retail detail or both. Many fixed site detailers have accounts with new and used car dealerships. This provides them with lots of work. If they are good, they usually do prep work for all new cars at all the local dealerships or share the work with a couple of other detail shops, additionally there are always lots of used trade ins at new dealers and used car lots. If the shop is totally busy, obviously they: Have a great location, or Do extremely great quality, or Have very competitive rates, or all of these.
FFP vs. CPFF Contracts
SBIR Corner: FFP vs. CPFF contracts:
Cabinet Refacing Business Opportunities
With all the cabinet refacing business opportunities out there, you could have a home based business that grows in this expanding industry. You've wanted your own kitchen updated, or talked to friends and family who have put out thousands of dollars remodeling theirs. It is an industry that will expand continuously, as homes are getting older and people want a new modern look.
Financial Strategies for a Mobile Car Wash Business Plan
Writing a business plan for a mobile car wash is fairly easy, yet often operators fall down in understanding the financial strategies and costs. Bankers and Investors alike will want to see that you have a well thought out business plan to insure your start-up goes successfully. Below you will find a sample mobile car wash strategic financial strategies section for a business plan. I recommend that you print this out and modify it to best fit your over all plan and then once you have a good rough draft think on it for a few days and add in your additional costs and thoughts or insights. Then type it up and use it in your over all business plan so that you can get the funding necessary for a success start-up either thru a loan or investor partner. This sample is written from the perspective of a franchisee, which is part of a larger franchise company. If you are to be an independent business your plan may slightly vary somewhat.
Top Ten Tips for Leveraging Conferences for Big SUCCESS!
As I am preparing for my attendance to the CoachVille's Third Annual Coaching Conference, I have been considering how I can make the most of my conference attendance. These ten tips will support you in leveraging those conference you will attend in the future and for creating an unforgettable experience!
Environmental Boat Washing and Detailing
Some marine biologists feel that the concentration of dead marine growth on boats and in boat harbors can create hypoxic zones or a lack of oxygen. This causes a decline in the water quality and may at times cause adverse effects on living marine life such as salmon in the case of the State of Washington. Also some paints have heavy metals in them, which come off with the use of pressure washers. If you coat the boat with our glass-coating product and wash it with our readily environmentally biodegradable soap, we can actually re-oxygenate the water.
Analyzing Customers in Your Business Plan
The Customer Analysis section of the business plan assesses the customer segments that the company serves. In it, the company must 1) identify its target customers, 2) convey the needs of these customers, and 3) show how its products and services satisfy these needs.
Marketing Your Small Business with Success Stories
-- The One Pager Shortcut Series --
The Game Plan ? The Difference Between Small Business Success And Failure
It is an American dream to own a business. But sadly, according to the U.S. Department of Commerce, only 1 in 5 businesses is still in business 5 years after it opens.
Maintaining Your Carpet Extractor in Your Auto Detail Shop
Auto Detailing: Maintaining A Commercial Carpet Extractor
|home | site map|