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How to Sell a Business or Restaurant- The Process

July 10, 2012 by Shelli Margolin

How to Sell a Restaurant Fast

February 24, 2012 by Shelli Margolin

As with most businesses, price is a prime factor in selling a restaurant fast. However, restaurants can sell for their asset value alone, such as furniture, fixtures and equipment (FF&E) along with their permits and licenses.  Knowing how to value those assets is the key to selling a restaurant quickly. Price is not the only determining factor in procuring a quick sale.  You need to get into the “buyer mindset” and make sure a buyer sees the same value in your restaurant as you do.  Here are some no nonsense step to getting your restaurant sold fast: 1.       Price – Price – Price!!! Just like anything else…   the better the deal, the faster someone will snatch it up.  Some factors that go into determining the price are location, FF&E replacement values, permits and licenses. 2.       Make it easy to understand -

How to Sell a Business Fast

February 24, 2012 by Shelli Margolin

Price is not the only determining factor in procuring a quick sale.  You need to get into the “buyer mindset” and make sure a buyer sees the same value in your business as you do.  Here are some no nonsense universal step to getting your business sold fast: 1.       Price – Price – Price!!! Just like anything else…   the better the deal, the faster someone will snatch it up. 2.       Make it easy to understand - If someone can’t understand how you do business and how you derive your net profit, they generally aren’t going to buy your business at any price. Make sure you have straight forward profit and loss statements for the last three years Put together a list of inventory and other assets such as furniture, fixtures and equipment (FF&E) and list their replacement costs. Have any employment contracts organized and ready for review Organize your customer/client lists List out any debt that will need to be dealt with in the sale

Keys to Selling Your Business

January 24, 2012 by Kendric Foultz

Knowing what a business buyer wants is the key to selling your business and getting the best price for it.  In this market climate, most buyers are looking for two things, a cash flowing business and a deal.  Here are a few things that a business buyer is gong to want to know that will allow the buyer to asses the situation and determine if yours is the right business for them. • Is the business currently producing an income for the owner? • Is the business seller retiring and fully funded his or her retirement plans?          • Does the sale of the business only represent a small part of the retirement portfolio? • Is the business debt free? • Do the financials show that the depreciation schedules are completely exhausted? Affirmative answers to these questions tell the business buyer that the business is making enough money for their needs and you are indeed in a financial position to sell your business and sell it within the constraints of the marketplace.

Selling a Small Business as a Short Sale

December 05, 2011 by Shelli Margolin

Drowning in business debt!?! Even when a company’s sales start increasing, debt can eat away at the profits… More and more small business owners are finding that profits are going to servicing their debt and keeping their business operational.  In such cases, an option is to sell the business through a short sale.  Especially if a business owner is burnt-out, looking at shuttering the business and declaring bankruptcy. Declaring bankruptcy is different as a small business owner.  It’s not just an anonymous bank or bureaucratic phone company that is owed money; it’s often suppliers and vendors with whom there are long-term personal relationships.  And often, friends and family have invested in the business or lent large sums of money to help keep the business afloat.

Why isn't my business selling?

October 21, 2011 by Kendric Foultz

Almost nothing is as upsetting to a business owner than listing their business for sale and then having it sit on the market for months with no activity on it!  “What is wrong, why haven’t you sold my business” you ask the business broker.  The answer might be complex or very simple.  The best thing to do as a business seller is to ask yourself a basic question.  “Does this offering make sense?  Would I buy my own business as presented?”

Selling a business in the media, entertainment, creative, film and TV industries? 10 Things to Consider

September 06, 2011 by Stuart Gross

Are you the owner of a small or medium-size business in the creative of media industry who dreams of “getting out” and retiring, writing a memoir, or simply getting away from it all? Thinking about selling your business? In today’s economic climate, selling your media or creative business can be a complicated and daunting experience. The skills and knowledge you acquired by running a successful business are not necessarily the same skills you will need to sell it. Here are 10 things to consider: 1. Am I REALLY ready to sell my business? One of the most important questions a buyer has is, “Why are you selling?” Selling your company is a life-changing event, with both positive and negative effects on your financial condition. Your mental and physical health may also be affected. You need to know if you will have enough money, moving forward, to live the way you choose. It is a very big decision. …And you need to be able to answer the question for potential buyers as

Jered Chapman joins BizEx Business Brokers in Marina Del Rey

June 28, 2011 by Jered Chapman

MARINA DEL REY, CALIFORNIA (June 21, 2011) – BizEx is pleased to announce that it recently welcomed Jered Chapman as the newest member of its team of business brokers. Jered brings years of business experience to BizEx.  Following a successful career as a college coach, he began overseeing operations and consulting with various companies and organizations in Philadelphia and Los Angeles.  He has worked with business owners in various industries, including restaurants, night clubs, health clubs, sports apparel retail, graphic design, and distribution centers.  Jered’s background emphasizes his knowledge in business development, operations management, and consulting.  He is a skilled communicator and project manager, helping clients understand the business selling and buying process.

5 Essential Items to Sell Your Business Quickly

June 03, 2010 by Dan Munter

As a business broker and as a former business owner, I know that the decision to sell a business is not easy. But once it is made, I know that usually the seller wants to sell it as soon as possible. I always tell a seller to pretend that they are the buyer looking at buying their business. What would they need to see to decide to buy the business? From my experience and my logic, I have come up with a list of 5 items that really facilitate the selling process. 1) Have  credible P&Ls for the past 3 years. 2) Have financial records to verify the value of the inventory and FF&E 3) Make sure that the key employees will stay employed 4) Make sure that the landlord is willing to lease for reasonable terms 5) Make sure that the key customers will continue to buy services or products.

Selling Your Small Business? What Makes a Good Buyer?

April 20, 2010 by Stuart Gross

Anyone who has ever sold a business knows that attracting interested and qualified buyers is the name of the game. When a buyer has inquired about your business for sale they will have questions about the business and how it runs. You or your broker should answer those questions and interview the buyer. You want a buyer who is genuinely interested in this business, one who has the skills necessary to run the business, and the financial wherewithal to make this purchase. Your questions and the buyer’s answers must resolve these issues. If you do not know about your buyer you are likely to waste a lot of time and take your eye off of running your business and finding the right buyer. There are many nightmares that the wrong buyer can cause:

Selling a business in the media, entertainment, film and TV industries?

March 16, 2010 by Stuart Gross

The first thing to consider when deciding to sell your business in media and entertainment (or any of the many creative business sectors including advertising, graphic, communications, branding and even consulting)  is transferability. And it’s not just the creative skills that may need to be transferred, it is also the relationships that mean business to your business.  Can a new buyer learn to do what you do and maintain and attract business? If you conclude that your business is transferable you need to have solutions to some key issues. What kind of buyer is capable of taking over this business? Where will I find this buyer? Will my key people stay on? How will I handle my clients in transition? How long should I stay on to make an effective transfer? Should I work with a broker? How do I make a deal? How will the buyer finance the acquisition? Am I really ready to move on from my business?