Understanding the Role of Technology in Modern Business Brokerage

Understanding the Role of Technology in Modern Business Brokerage

From the wheel to the steam engine to computers, technology continues to evolve and shift how we live our lives. The speed and power of computers have doubled about every two years over the last 60 years, which has enabled us to go from computers weighing 30 tons and taking up 1,800 square feet of space to the world’s current smallest complete, operational computer that measures only tw

Timing the Market: When Is the Best Time to Sell Your Business?

Jan 24 Blog Post

You’ve spent years building and growing your business. You’ve dedicated so much of your time and energy to ensuring its success, but it can be challenging to determine when the best time is to sell. People sell businesses for a variety of reasons. When preparing a plan for selling your business, it’s a good idea to be straightforward and honest about what it would take to prepare

Top 5 Mistakes to Avoid When Selling Your Small Business

Top 5 Mistakes to Avoid When Selling Your Small Business

You know how to operate your business, and you’ve built it into a very successful enterprise. Congratulations! However, the time has come to move on, whether it is for a new challenge or to kick back and enjoy the fruits of your labor. No matter the reason, you are ready to sell. However, too many small business owners mistake the knowledge they have accrued running their business as giving

Valuing Your Business: How Business Brokers Determine Worth

Valuing Your Business: How Business Brokers Determine Worth

When the decision has been made to sell your business, the next step is perhaps the most crucial of all: determining the value of your business. There are several ways this can be done, but it isn’t an exact science. For that reason, it is essential that you seek out a trained broker to help you determine how much your business is worth. But don’t expect that broker to tell you everyt

How to Reduce Owner Dependence When Selling

How to Reduce Owner Dependence When Selling

Many business owners may think that the tough part is over once they make the call to sell their business. While there’s no doubt that decision can be hard, there is still work to be done. Owners must adapt their business environment to continue running without them. Working with an experienced broker can make all the difference as a company shifts towards new leadership.   Thinki

How to Find the Best Advisor When Selling Your Business

How to Find the Best Advisor When Selling Your Business

Do-it-yourself home repairs have definitely had their moment in the sun. But for anyone that has paid attention to that trend, it quickly became apparent that having an expert remodel a home offered a considerable advantage in terms of the quality of the work. The same holds true when it comes to other big tasks, such as selling your business. Sure, no one knows the ins and outs of your business b

Transworld Business Advisors Adds Bassett as New Advisor

Transworld Business Advisors Adds Bassett as New Advisor

KNOXVILLE, TENN. – Transworld Business Advisors announced today that Adam Bassett has joined the company as their newest Business Advisor. Based in Sevierville, TN—home to the Great Smoky Mountains— Adam offers business owners looking to sell their ventures and astute buyers seeking lucrative investments a distinctive combination of local expertise and a wide network of opportun

The Rise of Recession-Proof Businesses

Recession-proof Businesses

During the last 25 years, the U.S. and the world experienced two major economic upheavals. First, the Great Recession from 2007 to 2009 took about ten years to recover from completely. Then there was the financial crisis brought about by the COVID-19 pandemic and the subsequent lockdown. As a result, the term “recession-proof” has become quite common — whether among those in busi

Closing the Deal: Understanding What to Expect

Closing the Deal: Understanding What to Expect

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

Who's Buying and Who's Selling in 2023

Business Meeting

As the financial recovery from the pandemic continues, Transworld’s Main Street Market Report found that business acquisitions were up more than 32% from 2021 to 2022. This rebound is great news for buyers, but to fully understand the uptick, let’s drill down into who is currently looking to sell their businesses and which demographics are primed to make a purchase. Who’s Sellin

2023 Main Street Market Report

2023 Main Street Market Report

Selling your business is a big decision. Equally important is finding the right business advisor to help you navigate the process. When you select Transworld our latest Market Report shows you’re choosing the best. Let’s dive into Transworld’s small business transaction activity for 2022 and learn more about what sets Transworld’s business advisors apart. Another historic

How to Choose the Best Deal for You and Your Business

Meeting

Anyone thinking of selling their business needs to be prepared to negotiate. Why? Because your goals and the buyer’s goals may be the same—to get the best deal—but that doesn’t mean the same thing for both parties. It will take time, and some give and take on both sides to arrive at an optimal deal for everyone involved. Ensuring that you are negotiating from a position of

Properly Package and Market Your Business

Business meeting

How challenging can selling a business be? On the surface, the prospect appears simple. First, you have a business and want to sell it, then you share that information and wait for a buyer. But the reality is both more complicated and more nuanced. Using a broker takes the pressure off you so you can focus on your business operations. Few business owners understand everything involved in selling

Selling Your Business

Selling Your Business

As a business owner, you have likely spent hours, days, months or even longer agonizing over whether to sell your business. While in a perfect world the hard part would be over, the reality is making the decision to sell is simply the first step in a complicated process. Fortunately, there are ways to simplify the experience. To start, it’s a good idea to have a checklist of what steps to e

Top 5 Reasons to Work with a Business Broker

Top 5 Reasons to Work with a Business Broker

Whether you’ve spent a lifetime operating your business or have just recently taken the reins, when it comes time to sell, you want the experience to go well. And by going well, people typically mean without a lot of headaches, and, of course, with a tidy profit. Achieving those goals becomes much easier when you enlist the aid and support of an experienced business broker or advisor. Trans

Transworld Business Advisors Adds Whitehead as New Advisor

Transworld Business Advisors Adds Whitehead as New Advisor

KNOXVILLE, TENN. – Transworld Business Advisors announced today that Chris Whitehead has joined the company as their newest Business Advisor. Chris has over 8 years of nonprofit work experience serving the Knoxville community in many capacities. “I’m very happy and excited to be a part of the Transworld company as a new Advisor. I’m looking forward to helping owners and bu

Pre-Sale Checklist for Selling Your Business

Pre-Sale Checklist for Selling Your Business

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

Transworld Business Advisors Adds Kasper as Director of Operations

Kasper headshot

KNOXVILLE, TENN.—Transworld Business Advisors announced today that Kelly Kasper is joining the company as director of operations. Kasper brings more than a decade of experience in higher education to the Transworld Knoxville and Chattanooga team.  In the director of operations role, she will focus on supporting the Knoxville and Chattanooga teams to ensure efficient office operations

3 Tips for First Time Business Sellers

Business negotiation

You’ve made the decision to sell your business. Congrats! There’s no doubt that a lot of stress is wrapped up in deciding to sell, but there’s also a great deal of excitement. As a result, it can be very easy, especially for first-time sellers, to forget that selling a business is a multistep process, requiring careful planning to maximize your potential returns. We’ve got

How Long Does It Take To Sell a Business

For sale

Homebuyers are familiar with the mantra—location, location, location. Well for a business owner looking to sell their business, there’s an equally important phrase to remember—timing, timing, timing. But if you are looking into selling your business, what does that mean for you? And exactly how long will the process take? A main street business can take more than six months t

How Inflation Impacts the Sale of your Small Business

How Inflation Impacts the Sale of your Small Business

From the pandemic’s supply chain issues to the current worries over rising inflation, many small businesses have been struggling to adapt to the sudden shifts of today’s economy. With inflation in June hitting 9.1%, more than the Dow Jones estimate of 8.8% for the month, more and more businesses are worrying about how exactly inflation has and will impact their business, and if no

Transworld Expands to Chattanooga

Transworld Expands to Chattanooga

HIRES LAUREN WINGROVE TO SERVE HAMILTON COUNTY BUSINESSES  KNOXVILLE—Transworld Business Advisors announced today that Lauren Wingrove has joined the company in their new Chattanooga agency as a Business Advisor. Lauren has started several businesses of her own and will help owners sell their businesses as well as help buyers find good businesses and/or franchise opportunities. She wil

How to Turn Your Business into a Franchise

How to Turn Your Business into a Franchise

Wondering if your business is ready to be franchised? When thinking about franchising your business, there are a few key criteria to consider. Working with a franchise consultant can help you determine if: 1) you offer a superior product or service, 2) your concept is easy to share and teach, 3) your concept is easy to replicate across a diverse set of locations, and 4) your concept is not one tha

Businesses for Sale: How to Find and Buy a Business

Businesses for Sale: How to Find and Buy a Business

There are many search tools available on the web to locate potential businesses for sale. These listings provide a snap shot of the opportunity for the prospective buyer.  Working with a business broker helps potential buyers to not just find an opportunity but also evaluate the right opportunity. Beyond the business listing, here are some core things to look for when evaluating the right bus

Owning a Franchise: How to Determine if Owning a Franchise is the Right Fit for You

Owning a Franchise: How to Determine if Owning a Franchise is the Right Fit for You

Owning a franchise presents an exciting opportunity for both new and experienced business owners. A franchise is a unique business model that differs in some key ways from independent business ownership. If you are thinking about purchasing a franchise, there are a few things to consider. Here are some ways to determine if owning a franchise is right for you, along with some considerations to help

Kose Earns Prestigious CBI Designation

Kose Earns Prestigious CBI Designation

KNOXVILLE, TN –   The International Business Brokers Association (IBBA) is pleased to announce that Doug Kose of Transworld Business Advisors has earned the prestigious Certified Business Intermediary (CBI) designation. The CBI, which represents the gold standard in the business brokerage industry, is granted to individuals who complete required course work, pass an extensive

How Quickly Can I (or Should I) Sell My Business?

How Quickly Can I (or Should I) Sell My Business?

In a perfect world, every entrepreneur would have ample time to prepare their business for sale. It’s a long, often complex process that demands our full attention—and ideally, assistance from professional brokers. After all, there are many, many factors to consider: Why am I selling? Is the market ideal? Do I have my legal and financial ducks in a row? (And more.) That being sai

How to Identify Trustworthy Buyers

How to Identify Trustworthy Buyers

For many entrepreneurs, selling a business is about more than money—it’s about passing down a legacy. After years of hard work, it’s only natural to want to see your creation in the hands of someone who shares your passion. However, finding that perfect “someone” can be a challenge. Not everyone that can buy your business should buy your business. As veter

Hansen Earns Promotion to Senior Business Advisor

Hansen Earns Promotion to Senior Business Advisor

KNOXVILLE, TN, Jan 18, 2022 – Transworld Business Advisors promoted Sheila Hansen to the position of Senior Business Advisor at Transworld Business Advisors of Knoxville and Sevier County, TN.     In her position as a Business Advisor and resident of Sevier County, Sheila has been instrumental in bringing new business and brand awareness to the Sevier County area, facilitating nu

Business Trends to Look Out for in 2022

Business Trends to Look Out for in 2022

Thinking of selling your business in 2022? Give yourself an edge—read up on what we learned in 2021. 2021 was a year of unpredictable firsts for business owners and entrepreneurs. Nothing we learned in 2020 could have prepared America for pandemic shutdowns. Many small operations had to quickly pivot, improvise, and adapt to a world that changed overnight. But now, with a swiftly recoverin

Pros and Cons of Selling your Business Without a Broker

Pros and Cons of Selling your Business Without a Broker

Are you ready to sell your business, but still on the fence about using a broker? You’re not alone. Many business owners, especially first-time sellers, feel compelled to DIY the process, thinking it will save them time and money. Selling your business can be a long process with many tedious steps. An experienced business brokerage (plus the valuable resources they bring to the table)

Transworld Hosts Ribbon Cutting Celebrating New Office

Transworld Hosts Ribbon Cutting Celebrating New Office

KNOXVILLE, TENN. – Transworld Business Advisors of Knoxville celebrated with the West Knoxville Chamber of Commerce, business community leaders and colleagues a new office location ribbon cutting event. Over 50 people attended the celebration, located at 5816 Kingston Pike in Knoxville.   Transworld Business Advisors of Knoxville provides guided, professional help for entrepreneu

Transworld To Provide Free Ask the Experts Sessions

Transworld To Provide Free Ask the Experts Sessions

KNOXVILLE, TENN. – Beginning Thursday Sept. 2, Knoxville-area entrepreneurs will have a new and unique opportunity to receive free, confidential advice on selling their businesses. Transworld Business Advisors of Knoxville will kick off its first Ask the Experts session from 11 a.m. to 1 p.m., with staff on hand to field questions from local business owners.   Ask The Experts

How to Find the Right Buyer When Selling your Small Business

How to Find the Right Buyer When Selling your Small Business

Finding the right buyer for your business goes beyond getting the highest offer possible. As a seller, you're looking for the most qualified buyer that best aligns with your values. After years of building your business, it’s natural to want a big payoff. But there are other factors, like preserving your legacy or maintaining the integrity of your company, that matter too.   Add value

How Much is My Business Worth? Understanding the Different Standards for Valuating Your Business

How Much is My Business Worth? Understanding the Different Standards for Valuating Your Business

Knowing what your business is worth is key to selling it at a profit. Your business valuation is also likely to be the first concern of potential buyers. So how do you properly determine the value of your business? The answer can be complex and somewhat confusing because business valuation is an art, not a science. Valuations are subject to the appraiser's judgment, skill, and quality of methodolo

Business Buyer Personas: Exploring the Different Types of Potential Buyers for Your Business

Business Buyer Personas: Exploring the Different Types of Potential Buyers for Your Business

There are many reasons why people seek to buy businesses. In this article, we outline the three main types of buyers that prospective sellers are likely to encounter: Individual Buyers, Strategic Buyers and Financial Buyers. Since each of these buyer types comes with their own unique interests and behaviors, understanding their personas and motives can help you maximize the value of your business.

Considering Selling Your Business? Tips for Keeping Your Potential Sale Confidential

Considering Selling Your Business? Tips for Keeping Your Potential Sale Confidential

When considering selling your business, it is crucial that the potential sale remains confidential. Having employees, customers and vendors learn of a possible sale can have devastating consequences on the business. For instance, customers may leave, employees may seek out other opportunities and the valuation of your business may decrease. These problems may weaken your bargaining position as you

What Happens to Cash When Selling a Business?

What Happens to Cash When Selling a Business?

Money can be considered a taboo topic of conversation in some circles. As a rule of thumb, you do not speak about salaries, debt, or the cost of your most recent vacation with friends or family, do you? We understand that, but when it comes to selling a business, we need to talk about money, and more specifically, cash. What is cash and how does it affect your business when you are selling it? Wh

Finding the Right Business to Buy

Finding the Right Business to Buy

A lot has certainly changed since this time last year, therefore, inevitably so have the markets. And maybe you have decided it’s time to own your own business and do what you’ve been putting off for years. As a potential buyer or entrepreneur, it is important to understand which industries you might be interested in, what types of businesses find success in your area, etc. i

Can I Sell My Closed Business?

Can I Sell My Closed Business?

The market has experienced one of the most sudden and, for some, catastrophic economic declines in our history. There is no shame in feeling a little bit like you are between a rock and a hard place – having to decide whether to possibly close a business or sell a business. The important fact is, this is not a reflection of you, your work ethic, professionalism, or entrepreneurship. In fact,

How to Value Your Company After COVID - It May Not Be As Difficult As You Think

How to Value Your Company After COVID - It May Not Be As Difficult As You Think

It is officially 2021, and what was quite possibly the most challenging year for your company is behind us. The effects of COVID-19 are still apparent as the pandemic continues to claim lives in high numbers every day. Effective vaccines are giving us hope for significant improvement in the 3rd and 4th quarters of 2021. What does this mean for you or your business? Inevitably, because ma

Strategies for Adding Value to Small Companies Over Time

Strategies for Adding Value to Small Companies Over Time

Now more than ever, we want to figure out how to make our businesses more valuable. With small businesses being affected the most during the COVID-19 crisis, strategies for adding value are vital, and also very possible. Let’s take a look at some changes you can make to increase value in your small company long-term. Instant Gratification: Faster Service & Faster Delivery In the age of

TRANSWORLD EARNS TWO BEST OF THE BEST AWARDS

TRANSWORLD EARNS TWO BEST OF THE BEST AWARDS

TRANSWORLD BUSINESS ADVISORS EARNS TWO BEST OF THE BEST AWARDSNamed Best Business Brokerage Firm from City View Magazine and Knoxville News Sentinel KNOXVILLE -- Transworld Business Advisors of Knoxville has been selected the 2020 Best Business Brokerage Firm by community votes in both the Knoxville News Sentinel AND City View Magazine.   Each year, both publishers have a website for the co

Valuations in Small Companies: Why They're Important & How to Increase the Value of Your Business

Valuations in Small Companies: Why They're Important & How to Increase the Value of Your Business

To sell your small business, there are some very crucial steps to take before the listing. For one, it is very important to understand your business’s value in the marketplace.  Obtaining a valuation allows you to thoroughly understand a business’s financials and their value in the marketplace, and give you an understanding of the price at which you should list your busi

Rutherford Recognized as '40 Under 40' Honoree

Rutherford Recognized as '40 Under 40' Honoree

  DREW RUTHERFORD NAMED AS KNOXVILLE '40 UNDER 40' HONOREE   Drew Rutherford, Senior Business Advisor for Transworld Business Advisors, has been named one of the recipients of the prestigious Knoxville's 40 Under 40 for the Class of 2020. Rutherford was chosen due to his community involvement and service of giving back to others.   Drew gives back to numerous non-profits via hi

5 Reasons Business Brokers Improve Closing Rates

5 Reasons Business Brokers Improve Closing Rates

IS A BROKER WORTH THE EXPENSE? 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

Transworld Hires Sheila Hansen

Transworld Hires Sheila Hansen

TRANSWORLD BUSINESS ADVISORS HIRES SHEILA HANSENHANSEN WILL FOCUS ON SEVIER COUNTY KNOXVILLE -- Transworld Business Advisors announced today that Sheila Hansen has joined the company as a Business Advisor.  Sheila is a small business owner herself and will help buyers find good businesses and/or franchise opportunities, and helping sellers find good buyers. She will focus her efforts in the

Steps to Selling Your Business For the Right Price

Steps to Selling Your Business For the Right Price

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 alw

Main Reasons for Selling a Business

Main Reasons for Selling a Business

There are many reasons why a business owner decides that the time has come to move on from the business and begin to look for the right buyer. We will cover the most common causes are retirement, relocation, ready to do something else, health issues and the five D's. Retirement The most common reason for selling a business is because the owner is retiring.  -63% of privately-owned busine

Smart Business Owners Plan Their Exit Strategy

Smart Business Owners Plan Their Exit Strategy

How can I maximize the value of my business? As a Transworld Business Brokerage, we are asked this question frequently. In this section, we will discuss the steps and strategies that a business owner can employ when preparing to sell a business. The key is preparation – the better prepared your exit strategy is, the higher the selling price it will command, and the more likely

Acquiring a Business in Uncertain Times

Acquiring a Business in Uncertain Times

The current situation is extraordinary, with many countries experiencing COVID-19 lockdowns, which is proving challenging in the business arena worldwide. Some industries will be adversely affected, as will certain types of businesses, which is a heart-breaking reality. But based on what we have seen in the past, economic uncertainty can also prove beneficial, especially for those who have been po

SBA Loan Assistance Program/Lease Assistance

SBA Loan Assistance Program/Lease Assistance

We hope that you, your families, and your employees are safe and are doing what’s needed to get through this crisis.   We want you to know that Transworld Business Advisors will remain active to continue to work on your behalf.  Below are some strategic financial tips to consider preparing for today with the ever-changing situation.The U.S. Small Business Administration (SBA

Understanding the Transworld Buyer Qualification Process

Understanding the Transworld Buyer Qualification Process

Let’s examine the buyer qualification process from business owners looking to sell their company. A common question we receive from owners is, “How do we find the right buyer for a business that is for sale?” For good reason, business owners are concerned with the legacy of their company and want to ensure there are checks in place as potential buyers move through the buying proc

Steps to Launching a Business and Entrepreneurship Options

Steps to Launching a Business and Entrepreneurship Options

As you begin the process to become a business owner, there are certain steps all new owners must follow to be compliant with the local, state and federal government. How do you legally start a business? There are three main aspects of legally starting a business: - Corporate Structure - Tax Identification Numbers - Entity Registration The corporate structure you choose can influence everyt

Ready to Become Boss Free in 2020?

Ready to Become Boss Free in 2020?

READY TO BE BOSS FREE AND BECOME A BUSINESS OWNER? Are you ready to become the boss instead of reporting to one? Do you have an entrepreneurial spirit that is ready take the reigns of your own work schedule? There is no particular path to becoming a business owner or becoming an entrepreneur. Each person has to navigate their own course. The most typical ways of becoming an owner are: - Starting

Transworld Business Advisors Hires Drew Rutherford

Transworld Business Advisors Hires Drew Rutherford

  Drew Rutherford: Former GM Of All Occasions Party Rentals Knoxville -- Transworld Business Advisors announced today that Drew Rutherford has joined the company as a Senior Business Advisor.  Drew recently served as General Manager of All Occasions Party Rentals for the past three years. Rutherford established and ran Tailgate Tennessee since its inception in 2012. Rutherford was also

Transworld Business Advisors Earns Best Of Knoxville Award

Transworld Business Advisors Earns Best Of Knoxville Award

  Knoxville - Transworld Business Advisors of Knoxville has been selected for the 2019 Best of Knoxville Award in the Business Broker category by the Knoxville Award Program. Each year, the Knoxville Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positiv