In our last newsletter, we explored the critical steps to listing your firm or business for sale and highlighted a sobering statistic: According to the International Business Brokers Association, 80% of businesses listed for sale do not sell! The primary culprit? – Improper pricing. What is the proper price for your firm? Like any investment […]
What Is Your Firm Really Worth? The Only Two Factors That Matter Read More »
Welcome to another installment in our series of Referral Partner Profiles. This is the final profile of 2019, and I think it’s particularly pertinent to the current economic climate. Hunt Dawkins is Vice President-SBA Division Manager at Axiom Bank. He eloquently describes his job as “financing the hopes of dreams of business owners.” But because
Commercial Financing Insights from Hunt Dawkins Read More »
Getting the initial offer to buy a business right is vital to ensure a smooth purchase transaction. Your best option is to have a business lawyer draft your letter of intent (LOI) to ensure it accomplishes the five goals of an LOI. Those goals are dependent on having certain provisions and sections in the letter.
5 Critical Sections for Your Letter of Intent Read More »
I can’t tell you how many times I’ve heard first-time business buyers tell me that they were shocked that they didn’t get to look at more financial and business information before they were expected to make an offer. On the one hand, I certainly take their point. It’s true that the financial information you get is
5 Questions to Ask During the In-Person Visit (+3 bonus questions!) Read More »
As you go through the various steps in the process of buying a business, there will be key points that can make or break your deal. One such milestone is your official offer to buy the business, which you will make either through a purchase contract or (more likely) through a letter of intent (LOI).
The 5 Goals for Your Letter of Intent Read More »
Business owners have insurance to protect their business assets in the case of liability loss or accidents. They create business entities—LLCs or corporations—to protect their personal assets. It makes perfect sense that they would also want to protect the business’ services and products from unfair competition by a former employee. Noncompete and other “restrictive covenant”
What Every Business Owner Should Know about Florida Noncompete Agreements Read More »
The Tax Cuts and Jobs Act (TCJA), signed into law nearly a year ago on December 22, 2017, transformed the corporate tax code. In particular, it significantly changed the way that small businesses depreciate assets by expanding both Section 179 deductions and first-year bonus depreciation. With these two methods, businesses can elect to write off
Two Huge Tax Breaks for Business Buyers Read More »
The Federal Franchise Law and the franchise rules and regulations issued by the Federal Trade Commission govern a franchisor’s distribution and obligations in the disclosure of their Franchise Disclosure Document (FDD). In some states, franchise systems also have to register and get their FDD approved at the state level. Every FDD must include these 23 disclosure items.
FDD and Me: What Are the 23 Franchise Disclosure Items? Read More »
Owning and operating a business, being your own boss, is an inextricable part of the American Dream. It’s no coincidence that a particularly common mantra for politicians—both Democrat and Republican—is “small business is the backbone of the American economy.” And it’s true. According to data from the Small Business Association, in 2016, small businesses accounted
Buying a Business Is Less Risky Than a Startup Read More »
There are two primary ways that a business can be bought or sold: a stock (or equity) sale or an asset sale The most common method, by far, is the asset sale, but that doesn’t mean an asset sale is the best option for you. Many factors influence what deal structure will maximize your benefits
How to Choose Between a Stock and Asset Sale Read More »
