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
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”
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
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"”
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
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”
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”
