Archives for March 2016

Keys to a Successful Closing

The closing is the formal transfer of a business. It usually also represents the successful culmination of many months of hard work, extensive negotiations, lots of give and take, and ultimately a satisfactory meeting of the minds. The document governing the closing is the Purchase and Sale Agreement. It generally covers the following: • A … [Read more...]

“Red Flags” in the Sunset

Unlike that poetic title of an old-time standard song, Red Sails in the Sunset, red flags are not a pretty sight. They can cause a deal to crater. Sellers have to learn to recognize situations indicating there might be a problem in their attempt to sell their business. Very, very seldom does a white knight in shining armor riding a white horse … [Read more...]

The Confidentiality Myth

When it comes time to sell the company, a seller's prime concern is one of confidentiality. Owners are afraid that “if the word gets out” they will lose employees, customers and suppliers. Not to downplay confidentiality, but these incidents seldom happen if the process is properly managed. There is always the chance that a “leak” will occur, but … [Read more...]

Technobuddy: Fatal Computer Mistakes and How to Avoid Them

By Bill Husted, a.k.a. Technobuddy When it comes to computing there are glitches, just small hiccups that are annoying but not serious. Then there are the fatal mistakes. That’s when your computer becomes a beige paperweight and you lose all the data you’ve stored. It’s worthwhile to spend today talking about the really big mistakes … [Read more...]

A Selling Memorandum

A sellers memorandum includes all those points one would normally expect to see in any business plan, to wit: an executive summary, a business description, financial requirements, target market niche, identification of top management, an operations review, analysis of strengths and weaknesses, and current financial statements and projections. Guide … [Read more...]

A Selling Memorandum

A sellers memorandum includes all those points one would normally expect to see in any business plan, to wit: an executive summary, a business description, financial requirements, target market niche, identification of top management, an operations review, analysis of strengths and weaknesses, and current financial statements and projections. Guide … [Read more...]

Noted Economist to Speak to GABB on March 29

Noted Georgia economist Roger Tutterow, a Kennesaw State University Professor of Economics, will speak March 29 to the Georgia Association of Business Brokers. The GABB, the state’s only professional association dedicating to buying and selling businesses and franchises, will meet at 10:30 a.m. on March 29 at the South Terraces Conference … [Read more...]

Common Seller Questions

How long does it take to sell my business? It generally takes, on average, between five to eight months to sell most businesses. Keep in mind that an average is just that. Some businesses will take longer to sell, while others will sell in a shorter period of time. The sooner you have all the information needed to begin the marketing process, the … [Read more...]