At some point, every business owner will need to think about selling his or her business. This means you’ll need to be ready to overcome a range of obstacles, as the process of selling a business can be both confusing and time-consuming. This is especially true for those who have not gone through the […]
Between the high demand of businesses in the market, to labor shortages putting stress on small businesses, 2022 may just be the year to sell your business. If you are considering selling your business, be sure to contact one of our agents at Certified Business Brokers in Houston. As the midpoint of the year […]
After decades of hard work, selling your business can be an exciting and rewarding time. Yet, many business owners overlook the importance of focusing on the legal matters associated with sales. In this article, we’ll explore three of the most significant mistakes sellers make. 1. Not Using an NDA The first critical mistake that […]
KEY TAKEAWAYS: Internal and external factors are important considerations when selling a business. Here are issues you should think about when trying to time your exit. There are many factors that determine best timing for selling a small business: the financial condition of the company, valuation, growth cycle, profit history and the current market. Usually, […]
KEY TAKEAWAYS: When it’s time to sell your business, your numbers must tell the right story. Ensure you know your numbers inside and out by following these 9 tips. The lack of financial integrity is one of the most common hurdles encountered during the process of selling a business. Reliable financial records are not only a […]
When buying or selling a business, it is critically important that you evaluate the lease. It is a strange phenomenon that otherwise savvy business people will treat leases as a secondary concern. However, problematic terms in a lease can literally force you to pack up a business and move. This would not only be a […]
Most people think of starting a business from scratch, developing an idea, building a company from the ground up. Starting from scratch, however, has its disadvantages including – developing a customer base, marketing the business, hiring employees and creating cash flow … without any history or reputation to rely on. To avoid these challenges, buying […]
Are you thinking about taking the leap of faith into being part of the self-employed — into business ownership? If you are one of those people who have long yearned to be self-employed, to call your own shots and design your own destiny, you must break through all those yeah-buts that have been stopping you. […]
The past 12 months have presented businesses with challenges they’ve never seen before. While circumstances are improving, things like PPP loans, Covid-19 protocols, and employee engagement are still weighing on business owners. If you know exactly what I’m talking about, you might not believe me when I say that today is actually an excellent time […]
You are the heart of American commerce. You are a small business owner. You’ve built your business up over time. We recognize and applaud your achievements. We are much like you in that nearly all of us have walked in your shoes by owning and running a company ourselves. Now you are considering letting go. […]
Now that the election is over, some Americans are worried that they’re going to have to pay more in taxes in the near future. During the campaign, President-Elect, Joe Biden, wasn’t shy about telling the American public that he wants to raise taxes on the wealthy. That’s a big part of his overall tax plan. […]
An earnout is a type of payment agreement which is sometimes used in a business acquisition. An earnout is a buyer’s commitment to pay the seller a certain amount of the money tied to future performance after a sale. It bridges a valuation gap between what the seller wants out of the business and what […]
Business is thriving in Houston……..and No Wonder! Houston is the fourth-largest city in the United States, located in a culturally diverse metropolitan region of 4.8 million residents – and growing at more than twice the national pace. It has a low cost of living, a well trained and educated workforce, has one of the largest […]
Why Should the Seller of a Small Business Consider Financing the Deal? One of the best ways to finance the acquisition of a business for a buyer is through the seller. The seller’s willingness to provide financing will be influenced by the buyer’s qualifications and by his or her own requirements such as tax considerations […]
Clear A New Lease With The Landlord Before You Sell Your Business. A lease is a contract that represents the right to operate a business from rented premises. It is a legally binding contract between the landlord and the tenant. It sets out the terms, conditions and rights as well as the obligations of both […]
Former Chairman of SCORE® Houston, a Nonprofit Organization, Takes Mission to Private Sector — the Small Business Marketplace HOUSTON, TX — (MARKET WIRE) — February 21, 2007 — After serving three years as Chair and Vice Chair of Houston Chapter of SCORE®, Thomas Pence, an expert in global trade and logistics, shifts back into the small business marketplace to […]
Closing the deal can be the most challenging part of buying or selling an operating business. Valuations, investigations, and negotiations are complete and now it’s a matter of getting everything into writing in a form that satisfies everyone so that the transfer of ownership of the business can take place. However, you can definitely count on someone […]
Job and Population Growth Bode Well for Small Business in Houston as its Economy Expands A revised report issued on March 8, 2007 by the Texas Workforce Commission (TWC), says Houston’s job growth rate was a full percentage point higher than the initial estimate released seven weeks ago. Houston’s 4.2 percent job growth during 2006 is well above […]
6 Steps in the Buying Process Step 1: Self Assessment When you meet with a Business Broker, be prepared to discuss your background, work experience and financial ability to purchase a business. A Business Broker cannot adequately help you find a company that meets your needs without this knowledge. A personal resume and financial statement […]
Sustaining established family-owned businesses into the next generation is an important issue for rural community leaders. Many small rural businesses are family-owned, but statistics show that few survive beyond retirement of the current owner. According to the U.S. Small Business Administration, only 30% of all family businesses succeed to the second generation. And of […]
A Simplified Checklist When Selling A Business & Closing A Deal – Adjust purchase price This would take care of prorated items such as rent, utilities and inventory up to the time of closing. – Review documents required to be provided by the seller This would be a corporate resolution approving the sale, evidence that […]
Preparation for putting a business on the market is like rehearsing for a stage performance….as the main character….in the spotlight. When entering the center stage spotlight, both a business owner and a star performer must know their roles, the script, the story, as well as the other major players and the roles they will play. […]
THE SUCCESSFUL CLOSING Now that all of the contingencies have been satisfied and removed from the Contract, it’s time to draft the final closing documents. These documents may be prepared by the Seller’s attorney, Buyer’s attorney or a third party attorney employed by the business broker. The basic documents associated with the transfer of a small business generally […]
Due Diligence is the last phase in the buying process. This is the time when you will have access to all of the company’s books, records and files. You will have a pre-determined period of time to investigate the information that you have been given so far to verify its accuracy. The goal of an […]
Kissing your business goodbye. Experts say it’s never too early to start thinking about selling. In fact, they suggest developing an exit strategy long before that next business opportunity beckons or it’s time to retire. “Things can be done today that can have big impact on how valuable the business is 20 years from […]
The Answer — in a Nutshell: The best time to sell a business is when the business has upward trending revenues, when the industry is in an upturn, when the economy is strong, when there is a multitude of buyers looking for business acquisitions, and when interest rates are low. There are many questions that need to be answered before […]
Whether you are buying or selling a business, your accountant can make or break the deal. If you choose to engage advisors, such as a CPA, to assist you in the sale or purchase of a business, it is important that they be deal friendly and transaction experienced. They must have a clear understanding […]
Who are the Buyers for Privately-Held Companies and What is Their Acquisition Criteria? Understanding who the buyers are and their acquisition criteria will enable business owners to be better prepared when the time comes to sell. Unrealistic expectations of value and factors that drive value result in many business owners being unable to sell their […]
Whether you are buying or selling a business, your legal counsel can make or break the deal. If you choose to engage advisors, such as an attorney, to assist you in the sale or purchase of a business, it is important that they be deal friendly and transaction experienced. You must articulate your objectives and […]
The Individual Buyer Category represents the largest number of prospective buyers for small to midsize privately-held businesses. Understanding who the buyers are and their acquisition criteria will enable business owners to be better prepared when the time comes to sell. The individual buyer category encompasses a variety of buyer types that include wealthy individuals, […]
Family and private businesses are sold in an environment that is unlike the selling environment of anything else you can imagine! Sound surprising? After you review the following ten reasons that make selling a business different, perhaps you will agree. (1) Confidentiality Making the decision to sell one’s business is a difficult enough task in […]
Why? Because SBA prequalified businesses for sale in the marketplace sell faster. The normal train of thought for most people is that it is only the buyer’s responsibility to get prequalified and get financing for the purchase of a business. Yes, the buyer must be able to qualify for a loan. However, the business must be […]
Closing the deal can be the most challenging part of buying or selling an operating business. Valuations, investigations, and negotiations are complete and now it’s a matter of getting everything into writing in a form that satisfies everyone so that the transfer of ownership of the business can take place. However, you can definitely count on someone getting cold […]
“Texas is a land of buccaneering capitalism.”- The Economist, 12/19/02 In addition to having a low cost of living and a great quality of life, Texas has one of the nation’s most favorable business environments. By 2030 the U.S. Census Bureau projects Texas population will increase by 60 percent compared with 2000 and will be one of the […]
A growing number of investors are selling properties and paying taxes later through a deal structure called a 1031 exchange. Section 1031 of the U.S. Tax Code permits a seller of commercial properties to defer the capital gains obligation if it identifies a replacement property within 45 days of closing the sale. The seller must […]