Pros and Cons of Selling Your Business without a Broker in Utah County

Pros and Cons of Selling Your Business without a Broker in Utah County

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) can m

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 in Utah County, 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 to

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. in order t

3 Questions You Should Ask Before Hiring a Business Broker

3 Questions You Should Ask Before Hiring a Business Broker

Utah County (and all of Utah) continues to grow at a breakneck pace, and although COVID stubbornly won't completely go away, small business is back! We have seen a lot of small business owners ready to sell, and aspiring entrepreneurs ready to buy, so now is the time to take the big step. As always, when selling your business, you now have two options: Do-It-Yourself or work with a business b

Five Reasons Business Brokers Improve Closing Rates

Five Reasons Business Brokers Improve Closing Rates

Hiring a business broker may seem complicated and an unnecessary expense to someone 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 your business m

How to Sell your Business in Utah County in 2021

How to Sell your Business in Utah County in 2021

Over the past year, many owners have been working hard to keep their businesses afloat. At times, having to reinvent or resize their company to stay competitive amidst the pandemic. Now, as things are turning around, you may be asking yourself, Should I sell my business? As valuations continue to go up, and buyers remain eager to spend their money, it’s prompting to be a big year for bus

The 3 Key Takeaways from BizBuySell's 1Q2021 Insight Report

The 3 Key Takeaways from BizBuySell's 1Q2021 Insight Report

One year after the onset of the pandemic, aspiring entrepreneurs continue to flock to high performing businesses. This resulted in median sale prices to jump 30% compared to Q1 of 2020, according to BizBuySell's Insight Report, which tracks and analyzes U.S. business-for-sale transactions and sentiment of business owners, buyers, and brokers. Sold businesses report 15% year over year increas

Three Small Business Ownership Myths Debunked

Three Small Business Ownership Myths Debunked

As business brokers, we often hear that people's dreams are to be their own boss. Making money doing something you love and grow through your own efforts is one of the most common desires of someone purusing the entrepreneurial dream.Here’s the thing—many people are too afraid to pursue business ownership because they have have misconceptions about what actually goes into owning a

How to Value Your Business Post-COVID

How to Value Your Business Post-COVID

Now that we are well into 2021, we can now acknowledge that last year was quite possibly the most challenging year for your company. 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 busines

Could following your passion be the perfect business move?

Could following your passion be the perfect business move?

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

A Paradox of Opportunity & Uncertainty: The BizBuySell 3Q 2020 Report

A Paradox of Opportunity & Uncertainty: The BizBuySell 3Q 2020 Report

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

How to Land a Side-Hustle that Pays

How to Land a Side-Hustle that Pays

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

IBBA Market Pulse Report Calls Small Business Market "Shaken But Resilient"

IBBA Market Pulse Report Calls Small Business Market "Shaken But Resilient"

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

Great Opportunities - Key Takeaways From the 2Q BizBuySell Business Insights Report

Great Opportunities - Key Takeaways From the 2Q BizBuySell Business Insights Report

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

Utah is Reopening for Business, Are You Ready?

Utah is Reopening for Business, Are You Ready?

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

Business Opportunities in the New Economy

Business Opportunities in the New Economy

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

Small Business Emergency Plan - BRIDGE Plan

Small Business Emergency Plan - BRIDGE Plan

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

COVID-19 Updated Resources for Small Businesses

COVID-19 Updated Resources for Small Businesses

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

FAQs REGARDING SBA ECONOMIC INJURY DISASTER LOANS

FAQs REGARDING SBA ECONOMIC INJURY DISASTER LOANS

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

How to Finance Your Business Purchase

How to Finance Your Business Purchase

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

3 Steps To Your 2020 Exit Planning

3 Steps To Your 2020 Exit Planning

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

Five Things to Consider Before Buying a Business

Five Things to Consider Before Buying a 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

Why Business Valuations Matter

Why Business Valuations Matter

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

The 10 Steps to Successfully Preparing Your Business for Sale - PART 2

The 10 Steps to Successfully Preparing Your Business for Sale - PART 2

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.

The 10 Steps to Successfully Preparing Your Business for Sale - PART 1

The 10 Steps to Successfully Preparing Your Business for Sale - PART 1

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

Market Still Strong for Small Business Sales

Market Still Strong for Small Business Sales

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

The Four Key Attributes of a Great Business Broker

The Four Key Attributes of a Great Business Broker

  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