Courtesy of Business Brokerage Press
It’s always nice, when eating at a nice restaurant, for the owner to come up and ask how everything was. That personal contact goes a long way in keeping customers happy – and returning. It seems that customer service is now handled by making a potential customer or client wait on a telephone for what seems forever, listening to a recording saying that the call will be handled in 10 minutes. Small businesses are usually built around personal customer service. When is the last time you “worked the floor” or handled the phone, or had lunch with a good customer? Customers and clients like to do business with the owner. Even a friendly “hello” or “nice to see you again” goes a long way in customer relations and service.
The importance of knowing your customers and/or clients could actually be extended to suppliers, vendors, and others connected with your business. When is the last time you visited with your banker, accountant, or legal advisor? A friendly call to your biggest supplier(s) can go a long way in building relationships. A call to one of these people thanking them for prompt delivery can pay big dividends if and when a problem really develops.
Owning and operating your own business is not a “backroom” or “hide behind the business plan” business. It is a “front-room” business. Go out and meet the customers – and anyone else who has an interest in your business.
This subject and others are important considerations in owning a business and can affect the sale of a business in a positive or negative manner. If you are thinking of selling your business, or just want to discuss possible exit scenarios down the road, please call to speak to one of our brokers here at Sunbelt Indiana... 317-573-2100. The consultation is free with no obligation!
Showing posts with label sell my business. Show all posts
Showing posts with label sell my business. Show all posts
Thursday, February 23, 2012
Friday, July 15, 2011
Recent Businesses Sold in central Indiana...
The following are businesses recently sold by Sunbelt Indiana brokers ... congrats brokers - great job!
- Free Spirit Lounge (Broker Gary Stehle)
- Kem-Co Chemical (Broker Tim Koger)
- Midas Location (Brokers Brian Knoderer & Dave Gorman)
- Mears Automotive (Broker Dave Gorman)
- Jack's Pizza - Danville (Broker Tim Koger)
If you are interested in learning more about selling your business, buying a business or planning for an exit strategy down the road, please contact us immediately. Sunbelt Indiana has been selling businesses in the Indiana marketplace for over 30 years! We have sold over 1,300 and can help you sell yours.
Ph. 317-573-2100
marketing@sunbeltindiana.com
Thursday, July 7, 2011
MOTIVATED SELLERS, what makes them motivated?
By Ralana D. Shelley, CBI
Sunbelt Indiana Business Resource
You see this term on many business listings online or hear it from listing brokers all the time. Have you ever wondered what makes a seller a "Motivated Seller?"
There are several reasons that a Business Seller would be considered a "Motivated Seller." Generally they all have a sudden important "motivator" such as a serious personal or family health issue, or they are planning on moving out of the geographic area for reasons beyond their control. Perhaps they are just really burnt out and want to get out of the business. These are only a few of the possible reasons for a seller to be especially motivated.
Whatever th reason, the "Motivated seller" is usually spurred on by a need to sell as quickly as possible. This is good news for you as a buyer. Often it means that a seller will consider an offer that maybe they would not have considered previously, or that this business may go for a little less than others comparable to it. You want to see this term on a listing.
There are certain precautions one should take to ensure that the motivator is not a negative material fact of the business, reasons you do not want to see are poor performance, or a downturn in the industry/market that is not expected to recover, or a lease that will eventually bury the business, just to name a few. Just be prepared, good advisors such as your business broker, accountant and/or attorney can assist you in making an informed decision on any turnaround business.
Currently, Sunbelt Indiana Business Resource has over 100 businesses listed, some of which have "Motivated Sellers." To review our current listings... click here.
Sunbelt Indiana Business Resource
You see this term on many business listings online or hear it from listing brokers all the time. Have you ever wondered what makes a seller a "Motivated Seller?"
There are several reasons that a Business Seller would be considered a "Motivated Seller." Generally they all have a sudden important "motivator" such as a serious personal or family health issue, or they are planning on moving out of the geographic area for reasons beyond their control. Perhaps they are just really burnt out and want to get out of the business. These are only a few of the possible reasons for a seller to be especially motivated.
Whatever th reason, the "Motivated seller" is usually spurred on by a need to sell as quickly as possible. This is good news for you as a buyer. Often it means that a seller will consider an offer that maybe they would not have considered previously, or that this business may go for a little less than others comparable to it. You want to see this term on a listing.
There are certain precautions one should take to ensure that the motivator is not a negative material fact of the business, reasons you do not want to see are poor performance, or a downturn in the industry/market that is not expected to recover, or a lease that will eventually bury the business, just to name a few. Just be prepared, good advisors such as your business broker, accountant and/or attorney can assist you in making an informed decision on any turnaround business.
Currently, Sunbelt Indiana Business Resource has over 100 businesses listed, some of which have "Motivated Sellers." To review our current listings... click here.
Tuesday, March 29, 2011
Inventory: A Key Component to the Business Sale
Ralana D. Shelley, CBI (bio) Sunbelt Indiana Business Resource March 28, 2011
One of the most overlooked but important issues in the health of any business is inventory. Inventory plays a pivotal role throughout its entire lifecycle, from purchase to storage to sale. It is just as important how inventory is kept and sold as who it is bought from, how much is paid for it, and how much one can charge a customer for it. Below are three key issues to consider abuot inventory and how it affects the health and future sale of your business.
Inventory Accounting... Once a business has purchased its inventory, it becomes important how that business is going to handle it. How quickly or slowly it is turned over can have a direct impact on business value...
To Include in the purchase price or not to include... Most businesses offered through an intermediary will clearly state up front whether inventory is included in the purchase price, or whether it is in addition to the price...
Counting Inventory at Closing... There are basically two ways to count inventory before closing...
Inventory is not so simple when considering its impact on the value of a business both while running it and while trying to sell it. It is certainly something to handle and track carefully, and prepare if you are thinking of selling now or in the future.
To read the full article and learn more about inventory's impact... click here.
One of the most overlooked but important issues in the health of any business is inventory. Inventory plays a pivotal role throughout its entire lifecycle, from purchase to storage to sale. It is just as important how inventory is kept and sold as who it is bought from, how much is paid for it, and how much one can charge a customer for it. Below are three key issues to consider abuot inventory and how it affects the health and future sale of your business.
Inventory Accounting... Once a business has purchased its inventory, it becomes important how that business is going to handle it. How quickly or slowly it is turned over can have a direct impact on business value...
To Include in the purchase price or not to include... Most businesses offered through an intermediary will clearly state up front whether inventory is included in the purchase price, or whether it is in addition to the price...
Counting Inventory at Closing... There are basically two ways to count inventory before closing...
Inventory is not so simple when considering its impact on the value of a business both while running it and while trying to sell it. It is certainly something to handle and track carefully, and prepare if you are thinking of selling now or in the future.
To read the full article and learn more about inventory's impact... click here.
Friday, March 11, 2011
Exit Planning - Prepare for an out while you're still in
Running a succesful business is time consuming, leaving you little time to plan what may seem like distant succession issues. It's important, however, to outline an exit plan and make succession decisions as early as possible. Evaluating and grooming possible successors or preparing for an outside sale can take years. And it's never too early to make retirement and estate plans.
To read the full article from Sunbeltmergers.com... click here.
To read the full article from Sunbeltmergers.com... click here.
Friday, August 13, 2010
Check out our newest Seller Newsletter... Seller's Eye on the Market...
Great articles about what Buyers expect. If you are thinking of selling your business in the near future, this is a must read...
click on image to view newsletter...
click on image to view newsletter...
Tuesday, June 15, 2010
When is the right time to exit?
By Pete Sokoloff
Security Systems News
The number one question I get asked in speaking with company owners is, "When is the right time to sell my business?"
There is a great deal of emotion that goes into selling a business. In terms of stress, it has been rated right up there with divorce and the death of a loved one. Though there are numerous logical reasons to sell or not sell a business, at the end of the day all decisions about making an exit are most heavily influenced by the emotions of the owners. This commentary will discuss not only the elements that should be considered, but what constitutes the right and the wrong mindset.
The logic of the right time to sell any company is indisputable. It is when multiple buyers are interested and the highest price can be commanded. This "perfect storm" occurs when the following elements are in place: 1. There is a history of financial improvement in your business over the last few years, both in revenues and earnings. 2. There is strong evidence that revenues and earnings will continue to increase in future years. 3. Market conditions are such that the investment community believes there is good upside ahead for the industry segment your company serves.
When these conditions are met, the owners of the business are in the enviable position of being able to find many interested buyers and a premium price for their company. So, why would a potential seller disregard this logic?
To read the full article … click here.
Security Systems News
The number one question I get asked in speaking with company owners is, "When is the right time to sell my business?"
There is a great deal of emotion that goes into selling a business. In terms of stress, it has been rated right up there with divorce and the death of a loved one. Though there are numerous logical reasons to sell or not sell a business, at the end of the day all decisions about making an exit are most heavily influenced by the emotions of the owners. This commentary will discuss not only the elements that should be considered, but what constitutes the right and the wrong mindset.
The logic of the right time to sell any company is indisputable. It is when multiple buyers are interested and the highest price can be commanded. This "perfect storm" occurs when the following elements are in place: 1. There is a history of financial improvement in your business over the last few years, both in revenues and earnings. 2. There is strong evidence that revenues and earnings will continue to increase in future years. 3. Market conditions are such that the investment community believes there is good upside ahead for the industry segment your company serves.
When these conditions are met, the owners of the business are in the enviable position of being able to find many interested buyers and a premium price for their company. So, why would a potential seller disregard this logic?
To read the full article … click here.
Tuesday, June 1, 2010
Hard Times?
Now may actually be a good time to sell a business.
Given the state of the financial markets and general economy, now may seem like an unlikely time to sell a company. But selling in the current market can actually be less challenging than you think -- and may even provide benefits you haven't considered.
Determining whether to sell is always a difficult and complex decision, involving many considerations specific to your plans and business. For example, how urgent is your exit plan and how much do you hope to realize from the sale? Although the current economic environment may factor into your decision, it shouldn’t be your primary consideration.
To read the full article... click here.
Given the state of the financial markets and general economy, now may seem like an unlikely time to sell a company. But selling in the current market can actually be less challenging than you think -- and may even provide benefits you haven't considered.
Determining whether to sell is always a difficult and complex decision, involving many considerations specific to your plans and business. For example, how urgent is your exit plan and how much do you hope to realize from the sale? Although the current economic environment may factor into your decision, it shouldn’t be your primary consideration.
To read the full article... click here.
Friday, April 23, 2010
4 Keys to Selling In a Buyer's Market
Don't leave money on the table that could have been in your pocket.
By Mike Handelsman
Entrepreneur.com, April 13, 2010
"This is a great article for anyone considering selling their business in this economy. It is possible to sell, but the better prepared you are...the less chance you will leave cash at the table... and that's where we come in." says Ralana D. Shelley, Certified Business Intermediary at Sunbelt Indiana Business Resource.
The business-for-sale market has been slowly recovering for the past few quarters, and the first quarter of 2010 was no different. According to industry data, the number of closed business-for-sale transactions rose slightly last quarter, by 0.3 percent, as compared to the first quarter of 2009.
Although this is a relatively small increase, it's a positive sign, especially given the deep declines in closed deals in the past two years. And evidence of a turnaround is more apparent when comparing Q1 2010 data to the prior quarter, which shows a healthy 6.3 percent increase in transaction volume.
While deal volume is up, there's still downward pressure on the business-for-sale listing prices... the data suggests that it's still a buyer's market out there. This is the result of a few factors, most notalby weaker financials for selling companies, a lack of confidence from buyers that the economy will improve quickly, and a dearth of capital available to those who want to buy a business.
For business owners looking to sell in this market, there are things you can do to improve the odds of closing the deal and to ensure you receive a good price for your business. These tips will get you started.
By Mike Handelsman
Entrepreneur.com, April 13, 2010
"This is a great article for anyone considering selling their business in this economy. It is possible to sell, but the better prepared you are...the less chance you will leave cash at the table... and that's where we come in." says Ralana D. Shelley, Certified Business Intermediary at Sunbelt Indiana Business Resource.
The business-for-sale market has been slowly recovering for the past few quarters, and the first quarter of 2010 was no different. According to industry data, the number of closed business-for-sale transactions rose slightly last quarter, by 0.3 percent, as compared to the first quarter of 2009.
Although this is a relatively small increase, it's a positive sign, especially given the deep declines in closed deals in the past two years. And evidence of a turnaround is more apparent when comparing Q1 2010 data to the prior quarter, which shows a healthy 6.3 percent increase in transaction volume.
While deal volume is up, there's still downward pressure on the business-for-sale listing prices... the data suggests that it's still a buyer's market out there. This is the result of a few factors, most notalby weaker financials for selling companies, a lack of confidence from buyers that the economy will improve quickly, and a dearth of capital available to those who want to buy a business.
For business owners looking to sell in this market, there are things you can do to improve the odds of closing the deal and to ensure you receive a good price for your business. These tips will get you started.
- Price your business right.
- Remember you're still running a business.
- Be willing to share some of the buyer's burden.
- Offer a roadmap to success.
It's a buyer's market out there, but that's not necessarily a reason to hold off on selling. Business owners who get it right are still closing deals at prices that can satisfy all of the parties involved in the transaction.
* This is a synopsis...to read the full article... click here.
Monday, March 29, 2010
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