ENTREPRENEURSHIP THROUGH ACQUISITION
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Why There's No Better Time Than Now to Buy a Business
So, if you’re thinking about buying a business, you’ve likely considered the risks and the rewards.
So, if you’re thinking about buying a business, you’ve likely considered the risks and the rewards.
What you might have also questioned, however, is the timing. Before you walk away from closing a deal, let us outline why there’s no better time than now to buy a business. Here’s why:
Valuation
More businesses have sold in 2021 than in previous years. This is because recent market trends have shown the economy rebounding. More buyers are looking to sell, given the increased valuation. As a result, you have more room to negotiate a price you can "deal" with as a buyer. Private and public companies continue to grow in this market, increasing demand for profitable companies.
Business Availability
Additionally, business owners in 2020 took time to rethink their life aspirations. Many, chose to list their business for sale to retire and spend more time with their family. The ease of virtual business deals increased significantly over the past two years. Business listings that solely existed outside of the “www” decided to make their listings available online. Over 440 thousand businesses were started in 2021. There are several businesses for sale, but when it comes to investing in the right one, BizNexus has you covered.
Financial Support
Moreover, from personal banking, VCs, partnerships, angels, crowdfunding, grants, and more, there are many ways to obtain the funds needed to buy a business. Be careful, you want to choose the option that best fits your needs.
BizNexus helps you find a business for sale that’s right for you.
Whether you’re looking to buy a business to diversify your portfolio or a first-time business extraordinaire, BizNexus can help you get started!
Featured Posts on Buy a Business
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BUSINESS ACQUISITION
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THE BIZNEXUS ROUNDUP
Quick & dirty interviews, war stories & tips from the trenches of business acquisition, growth & sale. We aim for value, efficiency & fun, so you'll walk away with something useful to take with you along the journey of buying, growing & selling a business.
Tips on Selling Your Business With a Business Broker
When the decision to sell a business is final, business sellers often try to go it alone to save themselves the cost of a commission.
When the decision to sell a business is final, business sellers often try to do it alone to save themselves the cost of a commission (or because they don’t even know what a “business broker” is, which indicates a larger awareness issue in the industry…).
Today, business acquisition & sale markets are awash with high-tech platforms that claim to make selling a business less labor-intensive and stressful. At BizNexus, we don’t allow sellers to post directly on our platform, and we do that because we believe in the value a great intermediary can provide when it comes to vetting, pricing, and negotiating a unique transaction. If you’re a would-be seller thinking of going along, it’s best to understand the resources available to you to help make a successful transaction actually happen before you jump in on your own.
Data and Reviews
We’re big fans of people, -real people who absolutely should be involved in any company sale process. Use reviews to help you build your deal team. Lawyers, business brokers, CPAs…. It’s 2020 people, -if there’s no data on the interweb about a professional you intend to work with there might be something off, so be sure to check with references and verify, verify, verify before you sign any contract. When a business owner has a business for sale, the process can get sticky leading to a potential transaction close, and we strongly recommend having experienced, capable professionals on-call to help you get your transaction over the goal-line.
Finding the Right Marketplace to advertise a Business for sale
There are certain features to consider when it comes to finding the best marketplaces to advertise a business for sale. These include:
Do you have clarity on who potential buyers actually are?
Does the marketplace simply allow you to post a business for sale for a fee? Or is there a professional involved at some point in the process for valuation and listing?
Is there any degree of confidentiality? Can you anonymize your information, location, etc., and still get in front of the right buyers?
An Online Site Based on People & Professionals
When the decision to sell a business is final, we recommend you try to get matched with the best intermediaries for you based on industry, location, deal size, and real-time transaction data. Check out BizNexus, and get matched up with your perfect business intermediary. We’re a platform for active business sellers and business brokerages active in the industry.
BizNexus - A Solution For Busy Entrepreneurs
If you’re busy running the day-to-day of your business, you might not have time to give the selling process the TLC it deserves. It’s a classic situation of not being able to focus on what’s important because you’re buried with everything urgent. BizNexus is a marketplace created for entrepreneurs, and it only takes a few seconds to get matched up with the best business broker for you, so give it a whirl if you want to get the ball rolling on setting yourself up for a great exit.
BizNexus -Learn More From Our YouTube Playlist:
PREPARING TO EXIT YOUR COMPANY
Have you checked out our podcast?
THE BIZNEXUS ROUNDUP
Quick & dirty interviews, war stories & tips from the trenches of business acquisition, growth & sale. We aim for value, efficiency & fun, so you'll walk away with something useful to take with you along the journey of buying, growing & selling a business.
5 Best Practices For Preparing Your Business For Sale
Are you ready to put your business up for sale? Here are some best practices we recommend you use to properly prepare your business for the sale.
Are you ready to put your business up for sale? Here are some best practices we recommend you use to properly prepare your business for the sale.
Business for sale
When you have a business for sale, you need to be certain that you are leaving no stone unturned when it comes to the details.
In addition to figuring out exactly why you want to sell, you'll need to cover your legal bases and come up with a strategy that works. This will help you fetch the biggest price, while also getting help with negotiating the deal.
Follow these tips so you can prepare your business for sale.
1. Get a Thorough and Up to Date Valuation
For starters, you'll need to get a proper business valuation. During a valuation, professionals that understand the market will take an objective look at your company to see how much it is worth.
They will look into all matters of the business, including your cash flow, debt, future growth potential, and other variables.
When your business has been valued, you will know what kind of sell price the market dictates and how much you can stand to earn. Having this report will also give you leverage and clarity when you're speaking to buyers.
Start to put together documentation for your business well in advance so that you can show clean, accurate records of your revenue, budgets, and other important matters.
2. Understand Completely Why You Want to Sell
Aside from financial implications, you need to know exactly why you intend to sell the business.
For some, it may simply be time for retirement, and selling the company can give you plenty of liquidity. You may also be at a point where cutting your losses and selling a majority of your company in an acquisition might make good sense.
Your reason for selling will help you choose which strategy can work best for you.
3. Carefully Vet Your Prospective Buyers
In addition to the sales price, you need to know who you're selling the company to.
Work with a business broker so that you can research every buyer's background. Finding a broker is crucial because studies show that only 20 to 30 percent of companies ever even find a buyer.
When you are seeking a buyer, move as carefully as possible so that your company lands in good hands, and at a good price.
4. Have a Plan in Place For the Transition
You need to have a solid exit strategy in place so that you can comfortably transition ownership and management.
When you have a plan, you're better able to choose a successor and make sure the company is in good hands once the sale goes through. It will protect the brand moving forward, and any future equity you might retain in the company.
5. Get Some Marketing Help
Your first two priorities should be to get legal help to know exactly where you stand and making a point to stay silent on it until the time is right for you to share terms with the public.
Once you are ready to announce to the public, make sure that you have a marketing team in place to help you communicate your message.
Follow the Right Tips When You Have a Business For Sale
When you have a business for sale, these are the tips that you need to keep in mind. It will help you get the best deal while protecting your interests.
Get in touch to set up a free consultation for our business sale and acquisition advice.
BizNexus -Learn More From Our YouTube Playlist:
PREPARING TO EXIT YOUR COMPANY
Have you checked out our podcast?
THE BIZNEXUS ROUNDUP
Quick & dirty interviews, war stories & tips from the trenches of business acquisition, growth & sale. We aim for value, efficiency & fun, so you'll walk away with something useful to take with you along the journey of buying, growing & selling a business.