Working with Lawyers to Get Your Deal Closed Randy J. Bring, RA., CBI, CM&AP In my 20 years as a Business Broker, I have dealt with probably a few hundred attorneys. While they are all different, some great, some certainly less than great, I have learned a few things along the way about working with them. Importantly, I have learned how to create a professional alliance with
Hiring a business broker may seem complicated and an unnecessary expense to someone who is trying to save money and simplify the sale of their business. Why add more to your long list of to-dos when you have enough going on? Well, the thing is, a business broker is so much more than just an extra set of hands. Studies have shown that working with a broker increases your chances of selling
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Are you ready to take the next steps in your career? Are you hoping to sell your business but unsure of where to begin? Follow these simple steps for selling your business for the best price and wherever you need an extra hand, we recommend you reach out to an experienced business broker for guidance. 1. Business Valuation A business valuation is always the fi
Did you think we would still be discussing COVID-19 this summer? Some of you knew we’d be in this for a long time, others may have believed the world would normalize by May. Whichever may be the case for you, this pandemic is still very real within our borders and it is affecting our lives and businesses. You don’t need to put on hold all of your plans. Interestingly enough, business s
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The day will come when you may have to walk away from your business and begin a new chapter of your life. Quite often, businesses are transferred from one family member to another – many times from parent to child. If you have reached that well-deserved retirement, here are factors to consider when transferring your business to a family member. 1. G
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As the owner of any size business – growth is what motivates every financial and marketing decision. Not only is this completely normal, but it is also encouraged. New generations have different interests. What motivates consumers to invest their money is often influenced by the current economic or political climate. For instance, Generation Z is much more concerned about making eco-consciou
Be ready this year! View our Pre-Sale Checklist for Selling Your Business Starting fresh in the first quarter is always a perfect time to plan for the coming year. As a small business owner, you might be thinking about selling your business. Whether the reason is early retirement or the desire to invest in a new endeavor, there are definite steps you can take to prepare your business for sale. Co
Small business owners do not have the cushion of IPOs and board members to fall back on. In fact, many of these businesses do not have million-dollar investors knocking on their doors for the latest advancement in tech. Small business owners are everyday people – with common, everyday anxieties. A new year can often feel like a fresh start, but in some cases, it can feel like the beginnings
The road to reach closing is a long and tedious one. As a seller, working with your broker, you have already gone through business pricing, organizing financial documents, and working on the offering package. After all of that, there is still the process of meeting and negotiating with potential buyers with your broker until you have found the right one. Likewise, as a buyer, you have had to work
In order to predict business trends in 2020, one must reflect on the previous year. As we enter into the first months of this new year, let’s take a look at some of the fastest-growing new industries in the United States. Wind Turbine Installation Automated Guided Vehicle Manufacturing Solar Power Social Networking Platforms Telehealth Services Peer-to-
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The moment you have found the perfect business to buy, it is time to start the negotiation process. There are strategic steps to take to ensure you are getting the best price. With the guidance of your business broker, buying a business does not have to feel daunting. Consider these five ways to get the best price when buying a business. What are your requirements and limitations as a buyer and
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Arguably, there is never a wrong time to sell your business. There will always be interested buyers – the only caveat is the selling price, depending on the market and the health of your business. However, you may be in a position where you would like to sell sooner rather than later. Here are six signs that it’s time to sell your business. Are you lacking passion? It is not unco
Company Named to Top 500 List, Top Franchises for Under $100,000 and Fastest Growing Franchise July 16, 2019 // Franchising.com // WEST PALM BEACH, FLA. - Transworld Business Advisors, the world’s leading Business Brokerage and Franchise Development Company, has been named to Entrepreneur Magazine’s Franchise 500®, and most recently to its Top 100 Franchises under $100,000 an
"Having worked in the franchising industry for over 25 years, I have witnessed firsthand the powerful impact franchising can have on a business' growth," said Bill Luce, president of Transworld Business Advisors. "As once a small brokerage firm that is now the largest business brokerage franchise in the world, Transworld Business Advisors is a prime example of how franchising can propel a bus
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As you can imagine, purchasing a business is one of the biggest decisions you will ever make. In fact, it is one of the most expensive commitments you will make in your lifetime. Therefore, choosing the right one is important. When you are looking to purchase a business, there are a number of factors to consider before making an offer. The first step, of course, is to think about the industry and
Buying a business often requires you to have the money necessary to complete your acquisition. This can be achieved in a variety of different ways. No matter what method you finally choose to pursue, to be successful you will need to be aware that different sources of capital will have their own priorities. So, to give you the best chance of securing the funding you need, let’s look at thre
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There are many benefits to franchising your business or becoming a franchise owner. However, one does not often hear about the next step: reselling a franchise. As an entrepreneur, it is not uncommon to be satisfied with accomplishing one goal and while constantly looking for new challenges. Your franchise business could have been a passion project, but your time to start your next project has arr
Not all industries are created equal and not all industries are worth investing in. As the job market improves and unemployment rates drop - to 3.8% in February 2019, to be exact, your next business investment may just be around the corner. You may have your specific interests, your niches, and your curiosities; however, some of those may be more valuable in today’s market than other
Transworld Business Advisors, the world's leading business brokerage and development franchise, celebrated 40 years of service to the business community at its recent conference held in Orlando – attended by more than 200 brokers. "The convention was the single most important event of the year because franchisees from around the world came together to engage, collaborate, and learn be
Successfully selling your business is tough, but with the guidance of the experts at Transworld Business Advisors you can get it done! At Transworld we have detailed and proven steps, to ensure the process stays on track. You need to continue to run your business to ensure it continues to be profitable, right through the sale date. Let the professionals at Transworld take
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Following trends is not just about hashtags and designer labels. Market research for entrepreneurs and business owners can make all of the difference when on the hunt for the next big purchase. Market research is conducted to get into the psyche of the consumer - what makes someone more or less inclined to purchase your product or service? Once a business owner understands this, it can improve
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Transworld Business Advisors is proud to announce our latest milestone, welcoming our 200th franchisee to our network of business exit experts. With more than 235 territories in 16 countries, Transworld is the world’s leading business brokerage franchise. Read the press release here
Goodwill, much like it sounds, is a company’s positive reputation. More specifically, business goodwill is an accounting term that describes intangible assets. In essence, a company’s brand name, loyal customer base, good public reputation, and patents, for example. An intangible asset cannot be quantified like sales or property but is just as important in determining a business'
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As the saying goes, “never judge a book by its cover.” The same can be said about a business. There are many factors to consider in order to determine the value of a business. It does not merely come down to numbers in a financial statement. If you are considering selling your business sometime in the future, there are a few things you can do to maximize the value of your business.
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The services of a business broker are, typically, enlisted by the seller. From the seller's perspective this is often a real bargain: a professional business broker will weed out the 'tire kickers' to help find the perfect new owner for the business - one that has the right experience, sufficient money and realistic expectations. From the buyer's perspective, however, the bu
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Buying a business is without a doubt a multi-step process. However, the steps do not merely begin at the point of research for businesses for sale or making an offer, but rather, in deciding what kind of business is right for you. There are a number of personal factors to consider when coming to this decision; keep in mind these five factors when picking the right business for you to buy. Lifes
Your business may be unique to you but because it belongs to an industry and has competitors, it falls under certain well-known categories. In order to stand out during a sale and get the best offer possible, there are 5 factors to consider. These factors will not only set your business apart, but they are also great guidelines to consider as you begin preparing to sell your business. 1. Strong
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Transworld Business Advisors is pleased to name United Franchise Group President, ‘JT’ Jim Tatem, as newest franchise partner and owner of Transworld Greenville East. Read the full press release here.
The Small Business Administration (SBA) is an agency of the US government that supports entrepreneurs and small businesses. It is the duty of the SBA to “aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns.” A major function of the SBA is partnering with banks, credit unions, and other lenders to provide loans for said entrepreneurs and
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If your business is successful and there are customers who travel from near and far to visit it, then you may have considered franchising. With numerous benefits for you and aspiring entrepreneurs, it is a profitable and healthy next step for your growing business. At Transworld Business Advisors, we not only support your business endeavors but we have a dedicated program to assist you. The Fr
An award-winning business brokerage franchise with more than 500 brokers in nearly 200 offices worldwide, Transworld Business Advisors celebrates and reflects on a record-breaking year in 2018, while looking forward to the promising continued growth projected for 2019. Read the full press release here.
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“Selling a Business in 2019: Three Important Things to Keep in Mind”, written by BizBuySell president Bob House – featuring a Transworld mention and a quote from Andy Cagnetta. Transworld Business Advisors CEO Andy Cagnetta weighs in on projected 2019 trends in Inc. article “Selling a Business in 2019: Three Important Things to Keep in Mind”, written by BizBuySell p
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When in the market for a new business, the search can feel long and tiresome. The moment the right business to purchase comes along, the next step is to make an offer. That being said, when buying a business, few would advise you to offer what a seller is asking. A broker might advise you to counteroffer to get the best possible deal. In order to do so, however, you need to do your research to e
Nearly 8,000 small businesses were sold in 2016. That means the process of selling is not unfamiliar to many Americans. However, for someone who may be going through this journey for the first time, it may feel daunting and perhaps even impossible. Do not fret – with the guidance of an experienced business broker and some research, you can find yourself on your way to sign on the dotted line
Selling your business is an important step in your career - almost as important as beginning it. Knowing how and whom to sell your business to is not a process to be taken lightly. Similarly, being in the market for a new business can be tedious. In fact, almost every article you will find online both buyer and seller will argue for hiring a broker because it is a lot to figure out on your own. Th
Read More “Choosing a Business Broker to Sell Your Business: 7 Questions to Ask”
With the holiday season in full swing, Transworld Business Advisors weighs in on how a businesses seasonality is a key factor to consider. Read the press release here.
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According to Investopedia, an exit strategy is defined as “[...] an entrepreneur's strategic plan to sell his or her ownership in a company to investors or another company.” An exit strategy gives a business owner the capacity to reduce his/her stake in the business. If a business is successful, the business can make a substantial profit, but if the business is not highly successf
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When a local business begins seeing success in not only its location, and niche market, but beyond that, it may consider opening a second shop nearby or perhaps even in the next town over. When the success continues to grow and word of mouth has reached further distances, a franchise is often the most natural and appropriate next step. A franchise is a business that has multiple locations that are
Extra! Extra! Read all about it! Transworld’s latest podcast channel, The Deal Board, launches tomorrow. Are you ready to listen and subscribe? Read the press release here.
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Transworld Business Advisors is pleased to welcome our newest master franchisee, David Newport, naming New Zealand as our 16th country to represent our extensive global network of leading business brokerage experts. Read the full press release here.
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President of Transworld Business Advisors, Bill Luce, has been named as Division Leader of United Franchise Group’s new Business Consulting Division, in addition to his current role, leading to unprecedented growth and synergy ahead in 2019. Read the full press release here.
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In order to determine the worth of a business, there are multiple factors to consider. It goes beyond how much money is made on an annual basis; in fact, all aspects of its past, present, and future are considered. It can seem daunting to try to calculate this on your own. For this reason, a proper business valuation must be conducted. This is the first step you will need to take when workin
Reaching the decision to sell your business is an important one. However, the next big decision is whether to sell it on your own, or with the help of a broker. With many steps and details to consider, there are numerous advantages to having a broker to mediate, guide and close the deal. 1. Valuing your business The moment you have decided to sell your business, you have to begin to p
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Selling your business can itself be a daunting prospect, and that’s even before you have to think about how and when to tell your staff, and how they will react. Change can be unsettling, but if the process of delivering the announcement is properly prepared, it doesn't have to be a negative event. So, here are some tips on how to handle the situation when you break t
Transworld Business Advisors releases the Top 10 and most unique industry listings for 2018 Read the full press release here
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A franchise is easily defined as a local storefront of a nation-or state-wide business. This means that as a franchisee, a person owns one of potentially many neighborhood versions of a larger corporation (i.e., McDonald’s, Applebee’s and Signarama). Although there is someone who represents the head of the company in a corporate context, a franchisee owns their business. Once the init
Whether you are buying or selling a business, there are several actions that are required from both parties. From establishing the price and starting negotiations to reaching an agreement and writing a check, business transactions have a specific timeline. With reputable expertise to advise buyers and sellers, experienced brokers have perfected the buyer/seller timeline. Here are some easy-to-foll
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Transworld Business Advisors is pleased to announce successful midyear growth. In addition to last year’s 70 new territories, so far in the first half of the year, Transworld has sold 41 territories, including global expansion into New Zealand, Jordan and France. New US Transworld markets include Alaska, Arkansas, Idaho, Iowa, Mississippi and Washington, D.C.. "We continue to improve upon t
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Buying a business is not a decision you have come to lightly. In fact, the decision to purchase a business is only the beginning of the process. Before signing on any dotted lines, a savvy entrepreneur must do their research. When doing this research, you need to be mindful of certain red flags. However, when researching businesses to purchase keep in mind that some red flags you may see in busine
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Franchising in the United States is very popular and lucrative. There are about 800,000 franchise businesses in 120+ industries employing more than 9 million people in the US alone. Franchises provide recognized brand quality and consistency while also allowing consumers to support local business owners. Deciding to franchise your business should come from a desire to expand to multiple locations
Whether you are looking to retire or pursue business opportunities in a different industry, you may have reached the important decision to sell your business. However, it is very possible that the highest bidder and best buyer is a competitor. When this is the case, Transworld Business Advisors has a few tips for best practices. 1. Ask for a Non-Disclosure Agreement During a sale, a competitor c
Your business may have been your dream come true. You had a good run, but now you feel more anxious than happy every time you think about it. This might mean it is time to sell your business. The decision to sell will not come easily –– and that is understandable. It is important to accept that selling your business is not a sign of failure, but rather comprehension of your current sta
Buying an existing business is often less risky than starting from scratch. The main reason being that the business has already established a customer base, a marketing strategy, employees and cash flow. That being said, the idea of buying a business may seem daunting. Do not let that stop you! There are some clear, and easy steps to follow that can bring you some ease and peace of mind. To be tre
Millennials have been given a bad rap over their participation in the job market. Now that this generation are in their 20s and 30s we know what they really want from their careers. They care about social responsibility and they prioritize results over time worked but, most importantly, this is the generation of the ‘side hustle’. Millennials want to start their own business
There are certain intangible assets that have no monetary value if you try to sell them by themselves, but their worth is essential to the market value of a business. In fact, it is assets like these that give your business a competitive advantage over others in your industry. What makes your business different, unique, and special? These are all questions to consider when deciding to sell your b
Read More “Competitive Advantage: Using Your Company's Unique Attributes for Selling”
Choosing to sell your business is a big decision but it does not end there. In order to market the sale, find the right buyer and close with ease, you will want to make sure you have done everything possible to expedite the process. With so many important elements to consider, choosing the right business broker is arguably the next most important decision you will make. But how do you know which b
When you are negotiating the sale of your business, you do not want anyone other than the buyer to know the details of the deal. In order to avoid information leaking out, it is vital to ensure business sale confidentiality. According to Andrew Cagnetta, CEO of Transworld, “Seller AND buyers want to keep a sale confidential to make sure customers, vendors and employees do not know prior to s
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The fundamental reason a business owner makes the decision to sell a business may not necessarily be for financial reasons, but to free up resources, focus on other priorities or make time for other opportunities. In this article, we review why owners might decide to sell a business, along with some steps to consider when preparing for the sale. 1. Retirement After years of investing tim
Starting your own business can be risky and take years before turning a profit. Generally speaking, buying a business that is already successful, established and profitable at a reasonable price has its advantages. On top of immediate cash flow and avoiding the difficult start-up work, buying a business means you are also buying the existing clients, employees and vendors and have pre-existing goo
The decision to sell your business is a big one; it is an important decision likely to affect the lives of many. As a result, it is crucial to keep the sale and all negotiations for the sale of your company as confidential as possible. Likely to affect your clients, employees, vendors, and competitors, it is best to ensure any positive, or potentially negative, reactions do not affect the fi
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When you think you have found the right business to buy, the process will begin to get interesting as the excitement kicks in. Because this process can vary slightly for each purchase, it is important to be organized and methodical. You will want to thoroughly investigate all aspects of a business for sale and make certain that the owner’s representations to you about the business are
Read More “Buying a Business: Advice to Guarantee a Smooth Purchase”
As a successful business owner, you have likely spent years developing the skills and expertise to run your company well. Therefore, when the time comes to sell your business, it’s easy to understand why it is best to work with professionals who have spent years perfecting their expertise in selling successful businesses like yours. Rely on the Experts Business owners who try to sell thei
You know what they say: New year, new you. If 2018 is the year you want to pursue your business dreams, look no further than Transworld Business Advisors to help those dreams come true. With years of experience in the franchise industry, Transworld’s professional business advisors have the industry insights and continually build upon their experiences to identify the latest trends. There are
Your business is a success so now you are considering expansion. You want to build on your existing strengths and reap the benefits of your hard work. But should you franchise your blueprint for others to follow, or clone your existing business in new locations? Answering that question correctly is the most critical decision you will make. So, here’s a rundown of what you should to take into
Read More “Expanding as a Chain or Franchise: What You Need to Know”
New year, new you? Resolutions, set. Vision board, done. If your new year’s goals have you wanting to be your own boss, you may be torn between starting your own business or investing in a startup. But setting up a business from scratch and starting with a new concept or idea can involve significant risks. Instead, you may want to consider purchasing an existing franchise resale; this can p
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