Remember being 18 years old and full of equal parts curiosity and terror when you thought about your future? It was easy to get excited! Were you drawn in by Art History 101 your freshman year? Did you find a passion for guitars sparked by a gig at a music store? Or perhaps you began experimenting with culinary creations while living on your own for the first time. Oftentimes, these bi
Read More “Could following your passion be the perfect business move?”
The 3Q 2020 Insight Report from BizBuySell, which is the result of extensive surveys of business brokers on small business purchase and sales activity, as well as buyer and seller confidence levels, provides the best information on what is going on in the market. First, we have the good news! There continues to be a steady upward trend in small business sales since the pandemic hit back in
Read More “A Paradox of Opportunity & Uncertainty: The BizBuySell 3Q 2020 Report”
This blog post comes from our monthly email that goes out to our clients. If you would like to be added to our email list, click HERE. A few years ago, the IRS released data stating that the average millionaire had not just one source of income, but seven. There’s been some buzz since then about the types of income that can increase your overall wealth. One of these channels is ow
In addition to the BizBuySell Insights report highlighted in our prior blog, the International Business Brokers Association (IBBA) released the Q2 2020 Market Pulse report. Not surprisingly, it had similar conclusions as the economy is still uncertain, and it appears that things may not return to “normal” until at least 2Q 2021. This report takes a particularly close look at how CO
Read More “IBBA Market Pulse Report Calls Small Business Market "Shaken But Resilient"”
The 2Q2020 Insight Report from BizBuySell, which is the result of extensive surveys of business brokers on small business purchase and sales activity provides the best information on what is going on in the market. First, we need to be honest – the second quarter of 2020 was tough for small business transactions, as the number of closed sales plummeted by 37%, the greatest decline since 200
Read More “Great Opportunities - Key Takeaways From the 2Q BizBuySell Business Insights Report”
With nearly 3 full months of quarantine behind us, we are heading into uncharted territory as Utah cautiously opens its doors. The new normal is fluid, with updated information about the coronavirus coming all the time. What does regular business look like now? Will customers return? What if there’s a second-wave of COVID-19? As featured in a prior blog post, the pandemic has offered a uniqu
With the current situation, many people have lost their jobs, or are disillusioned with their current situation. People have been furloughed, taken a salary cut, or decided to retire a little ahead of schedule. The coronavirus has created a new reality for millions of people around the world. And while there’s no guarantee of when life will normalize, or what work will look on the other side
In such a singular moment in our global history, our thoughts continue to dwell on our fellow small business owners. As an entrepreneur, nimbleness and perseverance is in your DNA! We will be able to rise above this challenge, and we can anticipate a future beyond this pandemic, if we plan accordingly. As a prospective buyer, this could also be a good time to get your ducks in a row and be ready t
We’ve all been living with COVID-19 for weeks, and we’ve all had to make sacrifices and hard decisions. How are you holding up? First, we'd like to share some positive perspective with you. In this episode of The Deal Board podcast, our experts discuss the effects of COVID-19 on small business. This podcast includes plenty of opportunities you can plan to act on. Take a liste
We wanted to provide you with this information directly from the SBA's Utah District Office. In the meantime, if you have any questions, we can help! Email us by clicking HERE and we will do what we can to assist you through this process. Are SBA's resources available during the COVID-19 crisis? Answer: “The health and safety of our employees is our number one priority. SBA
Read More “FAQs REGARDING SBA ECONOMIC INJURY DISASTER LOANS”
You’ve caught the entrepreneurial bug and you’re ready to purchase a small business. Maybe you’ve even found the exact local company that’s a perfect fit for you. Whether you’re just starting out, looking for a change in career, or transitioning into a working retirement, your deal begins and ends with proper financing. If the word financing sends a little shiv
2020 is fresh, and hopefully so are your eyes for the future. Whether you’re a resolution setter or you’re still trying to find an intention for the year, planning is a must-do for success in your business. If you’re a small business owner, maybe your resolutions include selling your business and starting an all new journey. No matter where you are on the path of small business
There are 28.8 million small businesses in the United States, employing more than 58 million people, according to the Small Business Administration. These small businesses (with less than 500 employees) represent over 99% of the businesses in the United States! Entrepreneurs think that they need to develop their own plan and build it from the ground up. However, you can purchase an existing busin
Read More “Five Things to Consider Before Buying a Business”
One of the most important things a small business owner can do is to understand the worth of their business. However, most business owners don’t know the true worth of their business, or they greatly over- (or under-) estimate the business’ value. Also, many owners don’t think that finding out how much their business is worth is important. For business owners, knowing the value
As we mentioned in the last blog post, Baby Boomers are retiring and they're putting their businesses up for sale, and the trend will be there for the next 5 years--which also means that buyers are looking for opportunities in this hot market. In addition, there are many other reasons why a business owner may sell. Please see our prior post Part 1, which will outline the first 5 steps.
Read More “The 10 Steps to Successfully Preparing Your Business for Sale - PART 2”
Baby Boomers are retiring and they're putting their businesses up for sale. While this trend will eventually slow, we expect this to create an active market for small businesses for quite some time--likely the next 5 years. In addition, many other boomers who have had corporate careers are looking to purchase a business as the last step prior to retirement, so the buyer’s market is stro
Read More “The 10 Steps to Successfully Preparing Your Business for Sale - PART 1”
International Business Brokers Association (IBBA)/Pepperdine University Study Show Continued Strength in the Market for Small Business Sales - 2Q2018 The results of the quarterly survey and study are in, and the strong consensus is that the market for the sale of Main Street & Lower Middle Market businesses continued to be extremely strong, especially for businesses valued at up to $2 million. Bu
When someone is looking to sell their business, or become a small business owner by purchasing a business, they often don’t know where or how to start the process. An effective business broker can add significant value to both parties in the transaction, but only if the broker is effective. There are four key attributes that define a great business broker, and all are equally importa
Read More “The Four Key Attributes of a Great Business Broker”
