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8 Tips to Consider When Selling Your Business

Are you trying to sell your business, and quickly? Check out these tips as they may help you achieve your goal.

1. Have a reasonable listing price.
2. Be prepared to negotiate.
3. Have a folder of information readily available for a qualified buyer.
4. Run the business as usual.
5. Make sure the business presents well; give it a “spit and polish.”
6. Get a current snapshot of the business financials and keep them up-to-date.
7. Put together a current list of Fixtures, Furniture, and Equipment (FF&E).
8. Consider counting all inventories so the value is known. This helps the buyer understand the final purchase price and reduces one of the many areas of negotiating a deal.

Of the reasons a business does not sell, the number reason is that the price listed for sale is unreasonable. An unreasonable price can be seen by looking at the earnings the business is generating and then looking at the business from the buyers perspective. The buyer will have their fixed cost minimums such as mortgage and household bills to cover. If they buy a business they need a requisite down payment plus the business needs to have enough cash flow to support any debt the buyer needs to service. Plus their needs to be a buffer in case the business loses sales due to the business transition.

To make sure the business is reasonably priced, a valuation can be performed and this will guide the owner on the most appropriate listing price. The cost of a valuation can vary from $500 up to $3,000 depending on the complexities of the business.

If you are motivated to sell your business quickly, be careful how you handle each buyer inquiry. If you disclose too much information too quickly it may result in a lower offer from the buyer. Additionally, the buyer may sense your urgency, also contributing to a lower offer or in some cases, frightening the buyer away as they may be concerned something is being hidden.

According to the California Association of Business Brokers, it takes about 7 ½ months to sell a business; if it sells. Once you receive a written offer from the buyer and start the negotiation process, it will take anywhere from 6 to 8 weeks to close escrow if inventory is included in the sale. It may take longer if licenses such as alcohol, contractors and other specialties are required.

There are many complexities to selling a business. Using the services of a qualified business broker can protect you and your business and achieve your goal of selling your business in the shortest time possible for the highest purchase price.

If you would like more information about selling your business, visit my website; and order a copy of my book Successfully Sell Your Business: Expert Advice from a Business Broker.

Free Business Listing

The internet technology has an immense influence on our business world today. Through the internet technology it has been possible to provide free business listing services to the society. Of which, it is a convenient and well-suited way to advertise one’s business and also search for particular products or services by potential consumers. There are varieties of organizations that offer physical and over the internet business listing.

For example, Google local business center; they offer the services for free. Business listing is whereby a business owner can list his or her business to indicate what products or services his or her business offers. When customers search for particular products or services over the internet, they will be sure to find your business there. As a result, you shall increase your sales. Free business listings are mostly done over the internet and are well suited for individuals who want to start up a business but do not have enough capital to promote it. For that reason, advertising their business could be strenuous to the financial situation of the business.

As long as you have access to a computer and good internet connection then you can easily work at home. In the process, list your business online. Seeing as, most people have no time to go around looking for particular services or products; they do so over the internet. Therefore, online listing of business can be a very suitable promotion tool. The free business listing organizations also assist the consumers. Especially when a potential consumer is searching for particular products or services but have no idea where to start from.

The business listing does come in handy because the potential consumer can search the product or service provider information in the available listings with ease. This is so because; the listings are done according to the categories of the products and services. The free business listing services do not only help people advertise their organization but also give opportunity to people to start up businesses using their skills, for example, a consulting firm for people who want to start a catering business or cooking school can be started by a stay-at-home mother through the use her experience in cooking.

It is important to choose an online directory that relies on search engines to increase the flow of visitors to your website. In conclusion, people working from home have no time or the resources to promote their business therefore; free business listing could be well suited to boost their business sales. This is possible since business owners do not have to put so much effort in the promotion of their business products and services. As it is said “the world is a global village”, online business listing can give you the opportunity to capture that. Whereby, you will get customers from all over the world and as a result, you shall cut the costs your business could have incurred while advertising your products or services to target consumers in another locality; even continent.

Home Business – Then and Now

Home base businesses in the early nineteen century was generally physical products made such as tailoring, dressmaking and home baking but since the introduction of computers and the internet to the outside world, home base business ideas more managerial , cost effective and simplified.

You have to be able to manage your time appropriately.

Managing a business from your home require some proper scheduling, especially when you have children around. Conventional businesses usually more flexible to children around because scheduling won’t interfere much with the business operation. Nowadays, every home business manages differently and it all depends on the target market. Back then you didn’t need much management, you just produce some tangible products and your target market general is geared toward a small regional market. Businesses today require a more task management strategy. If you want to know the art of internet business you will need to have some good management skills. You must be able to set-up advertising media and monitor its operation over time. You can’t afford not to get your business established or else you will lose money. It uses to be easy to set up home business and get a few customers but that is the old way of thinking. You can manage an online business with less cost than usual and you can easily earn a decent income from if. If you can monitor your bank statements, you can manage an online home base business because the tasks are easily accomplished.

You don’t require a large investment to begin online.

The cost to run a home base business is way less than the usual. you don’t have to invest in large equipment and facilities to have a home base business. Back then people didn’t have to worry much about large advertising dollars. Word-a-mouth was the effective method and a little social networking like church assembly and other community events. The major cost online is advertising but if you can understand all the free method you might save some agonizing time and money.

Online business is a fun way to begin exploring your ideas. You can set up a business with as little as zero to a hundred dollar. you don’t have to spend time and money on heavy equipments, facilities and location research. Online you can get free resources and tools needed to promote your business. you need to invest in a good computer and a reliable internet service. There are no limits to how cost-effective it is to operate a home base business online; you only need to have the senses to use the free promotional technique available to you.

You can choose some simple business ideas

You can choose any simple niche online to begin an internet business and you might also find some simple promotion tools and method. Home base business was generally done by stay at home parent, craftsmen and retiree.

Online there is no “real business idea” and any one can begin exploring without having the slightest idea what to do. Everyday some new ideas popped up online, some are good and some are bad. you can begin using some of the proven and simple ideas online. Some simple ways might be having a blogging business set up on any free blog host. Some of these simple ideas don’t must be an income to quit your job but at least you will get some understanding about online business. Statistic proves that if you can duplicate anything online, even from the simplest ideas, you can earn money.

Another simple method you can invest in for less than fifty dollars is online survey business.
There are numerous ways to get started immediately and if you are new to internet, you don’t have to bend your pocket book. There is no get rich quick business idea in the market-place.

If you are looking for some simple ways to get you acquainted with the internet and home base business idea then you should try blogging on some business related topics or start a survey site.

Finally, it is possible to have an additional income

A home base business is additional income potentials and now, almost every “average Joe” wants to have a home business. you can utilize your human resources skills because of the possibility to have a profitable home base business; the fact is you have to learn the techniques used when unveiling yours. You should be able to equip your business with some management skills, cost effective method and some simple business practice.