The most recent BizBuySell Insight Report provided some interesting predictions for 2024. The most important takeaway is that the landscape for buying and selling businesses presents both familiar challenges and new opportunities. The past year's rollercoaster, marked by inflation, interest rate hikes, and the ever-present threat of recession, has tested the resilience of business owners and the m
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 two mil
Read More “The Important Role of Technology in Business Brokerage”
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. Owners sell their 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 p
Read More “Timing the Market: When Is the Best Time to Sell Your Business?”
Congratulations! You know how to operate your business, and you’ve built it into a very successful enterprise. 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 to succeed in their busines
Read More “Top 5 Mistakes to Avoid When Selling Your Small Business”
When you—as a small business owner—decide it is time 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 determining a business’ value isn’t an exact science. For that reason, it is essential that you seek out an experienced business broker to help you determine how muc
Read More “Valuing Your Business: How Business Brokers Determine Selling Price”
Many business owners may think that the tough part is over once they make the call to sell their business. While there is no doubt that making the decision to sell can be hard, there is still work to be done. Owners must adapt their business environment to ensure that the business can run without them. Working with an experienced broker to evaluate your business and determine how to best move forw
Read More “How to Reduce Owner Dependence When Selling Your Business”
Small business acquisitions grew a modest 2% year-over-year in Q3 2023, continuing steady gains following a 13% drop in Q4 2022 according to BizBuySell's Insight Report, which tracks and analyzes U.S. business-for-sale transactions and sentiment from surveys of business owners, buyers, and brokers. This activity is a positive sign that buyers and sellers are coming together and finding ways to ham
Read More “The Q3 2023 BizBuySell Insight Report is Out--What You Need to Know”
Do-it-yourself home repairs have had their moment. But for anyone that has paid attention to that trend, it quickly became apparent that having an expert remodel their 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 better than you do,
Read More “How to Find the Best Advisor When Selling Your Business”
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
As the financial recovery from the pandemic continues, Transworld’s 2022 Main Street Market Report found that business acquisitions were up more than 32% from 2021 to 2022. This rebound is great news for buyers & sellers, 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
The thought of selling your business to a competitor can seem daunting. However, it is not uncommon and certainly not impossible. There are 6 major tips for successfully doing so. Do not turn over confidential information too soon A nondisclosure agreement (NDA) is critical during any sale but especially when selling to a competitor. A potential buyer should never have access to trade se
Read More “Thinking of Selling Your Business to a Competitor? Here's How to Do it Right!”
Selling a business is a significant decision, and doing so in the midst of a dynamic and uncertain economy requires careful and strategic planning. While economic conditions may present challenges, they also offer opportunities for savvy entrepreneurs. Assess the Market: Before embarking on the sale process, it is crucial to assess the market conditions and understand how the current economy may
Read More “Navigating the Sale of Your Business in the Current Economy: Strategies for Success”
Another historic year It’s been two years of historic performance levels for Transworld. Not only was 2021 record-setting with 31% more deals closed versus 2020, but 2022 surpassed it by 62%. The total deal value of businesses increased, too, by more than 25%. The 2022 monthly breakdown of sold deals topped every month in 2021, with 10 of the 12 months showing double-digit increases. In al
The most recent BizBuySell Insight Report, which surveys business brokers and small business owners for information on small business sales as well as general economic information, has been released. As the economy continues to be uncertain, there are three main takeaways from the report, which we outlined below. You can also read the full report by clicking HERE. Closed Transactions Bounce 4.8%,
Read More “Three Key Takeaways from the BizBuySell Q1 2023 Insight Report”
Once you have made the decision to sell your business, you need 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 fro
Read More “How to Get the Best Deal When It's Time to Sell Your Business”
How challenging is selling your small business? 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 an knowledgeable business broker takes the pressure off you so you can focus on your business operations. Few business owners understand al
The quarterly International Business Brokers Association (IBBA) and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). We want to provide you with some of the key points reviewed in the report. Why Most Deals Don’t Close and What You
Read More “Key Takeaways from the IBBA Market Pulse Report for 4Q 2022”
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
Read More “How to Determine if Owning a Franchise is the Right Fit for You”
You’ve made the decision to sell your business. Congratulations! 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&rsquo
The Q3 Insight Report is in, and we have a few key takeaways for you! After five consecutive quarters of year-over-year growth, small business acquisition activity has slowed, according to BizBuySell’s Insight Report for Q3 2022, which tracks and analyzes U.S. business-for-sale transactions and sentiment from business owners, buyers, and brokers. 2022 Q3 Closed Small Business Transactions
Read More “Three Key Takeaways from the BizBuySell Q3 2022 Insight Report”
If you’ve ever bought a house, you know that the appraised value isn’t what the house typically sells for in the end. It isn’t even what the sellers will use as the listing price in most cases. Most houses sell for a price that is less (or more) than what the seller asked for it. The same holds true for a business being sold. Why aren’t the listing price and the selling pr
Read More “What's the Difference Between the Listing Price and Selling Price of a Business?”
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? As seen in the above chart (where intervals are measu
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
Read More “How Inflation Impacts the Sale of your Small Business”
BizBuySell's Insight Report tracks and analyzes business-for-sale transactions and sentiment of business owners, buyers, and brokers. The Report for the second quarter is out, and while the market for small business sales continues to be strong, interest rate hikes and inflation are creating headwinds. Although small business acquisitions dropped 3% in Q2 2022 from Q1, sales increased 14% year-ov
Read More “The Q2 2022 BizBuySell Insight Report is Out -- What You Need to Know”
How people accessed many personal care experiences changed during the pandemic, but the industry adapted in many ways like by going online with their products or taking a more natural approach. The world has reopened, and beauty-based companies continue to rebound, so you may be asking—is now a good time to sell? Selling a beauty or personal care business is not very different than selling
Read More “Thinking of Selling Your Beauty or Personal Care Business? What You Need to Know”
After a bit of a tough turn during the pandemic, the construction industry has come roaring back to life. Demand is growing, with an increase of almost 9% anticipated for 2022 for this industry segment within the U.S. market. The demand is even higher in Utah County as exponetial growth means great opportunities in construction`. While supply chain disruptions and shortages of skilled workers may
Read More “Thinking of Selling Your Construction Business? What You Need to Know in 2022”
We just received the quarterly International Business Brokers Association (IBBA) and M&A Source Market Pulse Survey, which was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values under $2MM) and the lower middle market (values $2MM -$50MM). Market Headwinds are a Concern Labor shortages continue to create concerns for buyers,
If you’ve been following the news over the last few years, you know that business sales are up—way up—for certain industries, including restaurants. And if you’re like many restaurant owners, you’ve been thinking about selling your business, too. It’s easy to see why. Record-setting sales (both in terms of speed and profit) in 2021 proved rest
Read More “Thinking of Selling Your Restaurant? What You Need to Know in 2022”
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 said, th
Read More “How Quickly Can I (or Should I) Sell My Business?”
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
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 veteran brokers,
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 ag
Read More “Strategies for Adding Value to Small Companies Over Time”
When you sell your business, you expect to make money—not spend it. But as the saying goes, you have to spend money to make money. The question is, how much? The answer isn’t always clear. However, most brokers agree that a certain amount of due diligence is necessary when preparing a business for sale. That means retaining qualified professionals to look over your books, guide you th
Read More “Fees and Expenses to Expect When Selling a Business”
Your business may be unique to you, but because it it part of a larger 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. ST
Read More “5 Factors that Make Your Business Stand Out When Trying to Sell”
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
Read More “Pros and Cons of Selling Your Business without a Broker in Utah County”
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 who will complete the transaction. 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
Read More “How to Find the Right Buyer When Selling Your Small Business”
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
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 broker
Read More “3 Questions You Should Ask Before Hiring a Business Broker”
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
Read More “Five Reasons Business Brokers Improve Closing Rates”
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
Read More “How to Sell your Business in Utah County in 2021”
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 increase in
Read More “The 3 Key Takeaways from BizBuySell's 1Q2021 Insight Report”
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 succ
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
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 listen:&nb
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 has deplo
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. Below
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 strong as
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”
