Blog

How to Transfer Your Business to a Family Member

Are you thinking of transferring your business to a family member? This occurrence is fairly common, especially among small businesses. Here are some considerations that will help with your planning and decision making. Do You Have a Good Contract? Sometimes close family members are tempted to skip a contract, but it’s always a mistake not…

When it’s time to sell a business, you will want to keep confidentiality first and foremost in your mind. The reality is that many deals do not succeed when confidentiality is breached and others learn that your business is for sale. Let’s take a look at why this is the case. What Can Occur When…

When is it Time to Sell Your Business?

Businesses are sold for many reasons. However, when the owner(s) are not prepared to sell, the process can be a traumatic and emotional event. Here are some common reasons why businesses are sold. If you’re thinking you might soon sell a business in Philadelphia, Pennsylvania, New York, Connecticut, Rhode Island, Maine, Vermont or Massachusetts, you’ll…

What Kinds of Professionals Assist with the Process of Purchasing a Business?

When it comes time to buy or sell a business in New Jersey, New York, Connecticut, Maine, Vermont, Pennsylvania, or Massachusetts, you’ll need to enlist the assistance of various professionals including business brokers, attorneys, accountants and other advisors. But what will these advisors do and why are they necessary? Let’s take a closer look. Accountants An…

No one ever said selling a business was predictable. However, the truth of the matter is that every sale is different. Even the reasons behind a business owner deciding to sell his or her business vary tremendously. If you are getting ready to sell, it’s important to be aware of the various aspects that could…

There have been countless instances when someone has gone into business with a relative or close friend and made the mistake of skipping a formal agreement. No matter how good a friend may be, you will always want to get the terms of the partnership in writing. A partnership agreement is a vitally important document…

Many business owners are truly committed to their businesses. As a result, it is very difficult for them to step away even when they approach retirement age. It is not uncommon for business owners to keep working into their golden years. But the truth of the matter is that at some point almost everyone will…

SBA Loans Versus Traditional Loans

Business buyers often ask our business brokers in CT, VT, NY, MI, PA or MA for advice on which kinds of loans are best. This article compares some pros and cons of SBA loans versus traditional loans from a bank. If you are in the market to buy a business, please feel free to reach…

When one sells their house, the best deal is usually the highest price. When one decides to sell their business, there may be other factors to consider. Many buyers are similar to the “overlooked” buyer described below, serious and qualified; and most sales of businesses are win-win transactions. However, there are a few exceptions, and…

Recognizing Symptoms of Burnout and How a Business Broker Can Help

Burnout affects many business owners. Sometimes the best solution is to sell the business before it begins to suffer as a result. While potential buyers may find business burnout an unlikely reason to sell, it is considered a valid reason. Cashing out sooner rather than later will help you avoid devaluing your business and being…