June 22nd, 2011 by admin

Are planning to sell your business and engage in a new 0ne? Opening a business and making it triumphant encompasses a great deal of work, but occasionally it gets irresistible and you feel that selling it is the best option for you. While the existing business market is unstable with the global downturn affecting everything, you still have a good chance to sell your business. Even if you settle on to wait until the market is in a better state, you can be start establishing your business for sale. At this juncture, here are some factors to regard while organizing to sell your business.

1. If you have any troubles within your company whatever, try to get them determined as soon as you can. Try to talk to any business associates about major decision relating to the business and its sale, and make confident that a buy and sell agreement is in put before any sale is settled to make sure a smooth transition.

2. Effort on getting all of your monetary papers up to date and as precise as doable. This is a great way to amaze the buyer of the businesses insight, and it will help induce them that the business is important as the worth you are asking for it. It’s best to be up obverse and truthful about all aspects of your business as well. Even if there is something negative in the businesses history, not revealing it could lose the sale.

3. Be ready to help finance the sale of your business, since the current financial conditions could keep the purchaser from getting support put into place. You can also begin looking for a reliable commerce broker to help you in your search for buyers. They will be able to be eligible the buyers for you based on their economic reliability and their capacity to successfully run a business.

4. Talk about with the business broker the price you should be asking for your business. They have all of the expertise needed to help you determine a price for your business that is based on the current economic conditions, how the marketplace is moving, and how a sensible price will help you sell your business instead of leaving you out in the cold because your price is simply too high.

At the same time as waiting for the business to sell it is worthwhile to keep the business running as professionally and advantageously as possible, letting the business broker hand over the sale for you. They are functioning on your behalf and by allowing them to handle all of the sales aspects for you.

Business, Selling

June 22nd, 2011 by admin

There is, and always has been, a problem in the world of professional fighting: Unlike almost any other sport, a single entity controls the players. In boxing, a single notorious promoter almost ruined the sport (and arguably did) with the way he managed and controlled fighters and matches. Now, in the booming sport of mixed martial arts (MMA), the leading brands control the match ups and, in the case of the International Fight League, own the teams.

In contrast, the top sports franchises of our day – the NFL, NBA, MLB, and NHL – all succeeded based on local teams, local owners, and local fans working together to create something larger and greater than a single owner ever could. Team owners gave up a little bit in order to create something truly special. It is time for a similar vision to come to fruition in the fighting world.

Bonecrunch Fighting is a new league-based fighting organization based on exactly this concept. In this league, local owners build teams with as many local fighters as possible, in order to gain the support of local fans. The league is structured like a franchise, and seeks entrepreneurs with financial staying power to own and build successful teams.

Results so far include:

- An inaugural event that sold out a 3600 seat arena in Sarasota Florida.

- Top sponsors including the US Marines and Budweiser.

- Creation of the required legal documents to sell a franchise to interested and qualified team owners.

- Assembly of a top leadership team with management and fighting industry expertise.

- Development of template marketing materials, project management tools, and contracts to successfully run events.

- Agreements with five top MMA trainers and school owners (with four more in the works) who have put fighters into leading organizations. These trainers have a cadre of excellent local fighters ready to take on other teams – and ready to serve as “turn key” teams when a team owner purchase their geography.

- Interest from a number of entrepreneurs to purchase the rights to a team.

The advantages of this model become clearest when a network of at least five or six teams is operating. At that point, the league can begin to attract regional and national sponsors, and television/pay per view interest – the type of recognition that no local promoter can generate independently. The brand equity of the league will grow as fans support their local teams towards the play-offs and inter-league title/all-star events. In addition to putting on league events in their geographies, team owners are free to experiment with different concepts, including amateur and professional fights, tournaments, and different types of fighting formats (i.e., grappling, wrestling, stand up combat, boxing, and other formats that become popular).

Because the league is looking to achieve critical mass, initial franchises are priced at only ,000 (compared to most other franchises, sports or otherwise, and the discount is significant). This advantageous pricing gives early adopters the chance to realize a significant capital gain, because later owners will pay a premium. At the same time, Bonecrunch carefully screens potential owners to make sure that they have the long-term vision and required capital for their team, and the league, to succeed.

Contrast this concept with its nearest rival, the International Fight League (IFL). The IFL has raised over million dollars to create league-owned teams and attract television deals. Its stock price has had a roller coaster ride and currently trades at under after reaching highs of and the league struggles to contain costs and achieve profitability. Meanwhile, Bonecrunch is a grassroots effort that requires much less capital from a group of committed team owners, trainers, and fighters in order to succeed. By using the franchise model, Bonecrunch can grow organically and achieve critical mass with a comparably tiny investment.

Time will tell if this model can succeed in the highly competitive, fickle, and regulated world of fighting. However, it is time to bring this model to what has been a centrally controlled sport and find out what kind of difference it can make – to fans, fighters, and the entrepreneurs who purchase a franchise and own a professional sports team.

June 22nd, 2011 by admin

There are actually several modern and up to date business marketing plans and strategies in the market nowadays that businesses can use in advertising or promoting their business image. This can range from the lavish multilingual sites in the internet to high class and expensive television marketing campaigns. However, not all businesses can afford these expensive strategies. When portability, affordability, and effectiveness are what you look for in a marketing material, then what you need is the business card.

An attractive and excellent business card can make a good impact to your clients and customers and can deliver your full contact details and information. This is why most business establishments today use business cards as one of their main advertising strategy. Colored cards are the trend these days as they are appealing and eye-catching, and cover a wide range of styles and designs.

Every time you will meet a prospective customer, offering them an elegant and convenient reminder how they can see or contact you is one of the most crucial things of making a good and positive impact. So, make sure that you will not forget your business cards as they are a very effective means of getting your target clients and customers interested in your business offerings. Whatever you are offering, keep in mind that it is very crucial for your cards to have a strong visual impact and appeal. Your cards may require help from printing companies in order to create a professional output, however, it is important that you choose carefully the printer that will produce your cards.

Your cards must not only have your contact details and information, but they also must have an eye-catching look to attain remarked interest from potential clients and customers. If you do not know to achieve this yourself, you can always turn to a reliable printer. Business establishments that offer printing services will take your suggestions into account and come up with their own ideas to aid you in your design. You will also be presented with different printing choices such as the colors to use, paper choice, and printing technique. You will select the one that you think will help you effectively sell your image to your target clients and customers in the market.

As your business improves or expands and begins to offer wide arrays of products and services, it is a must to keep your business marketing tools especially your business card templates up to date. Usually, dealing with your promotional or advertising strategies on your own can be a complicated process. Many business owners have tried and failed to make their own professional looking cards using their personal computer and printer. Keep in mind that home or office printing does not always work to your advantage. For a lesser cost, you sacrifice the identity and image of your business.

There are online printing companies who can help you in your print job. Once your card design is ready for printing, you can order as many as you want. Ordering in bulk is often less costly than ordering in small quantities, so you might want to order in large numbers. Before you know it, your cards are delivered to you and waiting to be put to good use. Online printing companies are here to help you. Get their services and you can be sure to produce professional and high quality cards.

Business, Selling

June 21st, 2011 by admin

Have you been wondering what you can do to give your business a boost? Would you like to have new customers buying your products or using your services? Would you like to see some of your old customers more? Would you like the name of your business to be the first thing people think about when they need what you sell or provide? An answer of yes to all of these questions means you may need a marketing plan which includes the use of promotional items and this article is going to help you understand how simple developing one is.There are really three parts of a marketing plan: 1) goals, 2) strategies and 3) activities with deadlines and responsible persons. Let’s start off thinking about goals. 1. Goals are basically a measurable statement about what you want to see happen. If we use the questions above as a way to think about goals then some goals might be:- I want to have 500 new customers by the end of the year.- I want to have each customer, who has bought a service from me in the past, come into the store before the end of the year.- I want my business name to be known in the community by the end of the year.Each of these goals sets a path for you and is measurable. It is good business practice to be sure that the money you spend on promotional items is helping you reach your goals.2. Once you have defined your goals it is time to think about strategies or how you are going to reach your goals. This is where you can start to think about using promotional items. Promotional items work. People love to receive freebies or a give-away and they will make an extra effort to go to a sale or an event when they know they will take home a nice promotional item. So you need to set a budget for how much you can spend on your promotional items and then start shopping. Some important thing to keep in mind when shopping are:Select promotional items that “fit” you business. If you sell bicycles, then you might want to use water bottles with your name and logo on them as your promotional item. If you are a gutter cleaning service, a good promotional item might be a calendar that has special hints and ideas for how to keep your gutter clutter free all year round. The more you can align your promotional items to your line of business, the more readily people will think of you when they use the promotional item you gave them.Do not buy low quality promotional items. People have a tendency to equate the quality of a promotional item with the quality of a business. Be sure you don’t make this mistake. There may be occasions when giving away a lower quality promotional item is OK, such as parade throws, carnival prizes etc. but if you want your promotional item to make people want to keep doing business with you, buy at least average quality items.3. Once you have selected your promotional items, it is time to put a plan together for distribution activities. This plan needs to define all of the steps, who is responsible for each step and the deadline for each step. You may want to hold a sale or help with a community project but whatever it is the more detail the smoother the distribution will go.

Related Sell Your Business Articles

Business, Promotional, Sell

June 21st, 2011 by admin

There are many reasons why businesses opt for selling a business, probably because it is the most popular exit strategy for business owners. Businesses normally think of selling a business at some point of time with an idea to convert the business into liquid asset if they do not have any successors who want to continue the business. Few opt for selling the business when it is either running for loss or cannot stand up the competition in the market. Whatever the reason may be, the following tips would help you get the best price for selling your business.

- Calculate the worth of your business –The first step is to determine its correct value in the market. Until you determine the correct worth of it, you cannot fetch the right amount for it in the market. You can opt for different business valuation method to determine its correct value keeping the current market condition, economic trend and value of similar businesses. It is advisable to get professional valuation done for your business, as valuations done by professional people are regarded highly by any prospective buyers.

- Sell at the right time –Selling at the right time is the mantra for fetching the best price. Businesses sell their business when they are not in the condition to run it properly either due to bad health or no successor. Selling at this point of time is like selling a bad debt. Prospective buyers may take advantage of your situation and offer to pay lesser than the actual worth of your business. Hence it is advisable to sell your business when it is doing very well and at its highest profit margin level.

- Fix your House before you sell strategy – We all fix our house properly to make it look its best before we sell it out so that we can earn max. This strategy is applicable in selling a business too. Make sure that the business’s records up to date, the inventory up and the premises maintained. Also, you have taken care of your liabilities and settled all law suits.
- Professional Help – Selling a business is a complex transaction and cannot be done by individuals as it requires lot of paper work, legal formalities and professional expertise. It is the best idea to get professional help in selling your business thatwill simply things for you and you would be able to sell your business without any hassle.

Selling a businessis serious business and requires lot of ground work and validation. The above tips will be handy in getting the best price for your business.

Business, Selling

June 20th, 2011 by admin

Do you ever feel like you bought a business in a box, but that a few parts might be missing? You know… The pieces that actually make it go and produce?

Well, if you feel like that, it’s because you’re right.

Ray Kroc, the franchise master of McDonald’s was a genius in more ways than one.

A networking business has been compared to a McDonald’s franchise in many ways, on many occasions. If you haven’t come across these comparisons before, I’m sure you can quickly think of a few on your own.

Here is what you may not have realized about Ray, McDonald’s, and your business…

Ray’s primary mission was to sell McDonald’s franchises to franchise buyers, which then sell the burgers to the customers. More franchises = more burgers sold.

Pretty simple.

Our job as networkers is no different. We sell our franchise opportunity to others, and collectively market the product to the end consumer.

Here’s the interesting part to this…

McDonald’s food sucks. It’s about as far from good, fresh, quality food that you can get.

Yet it’s the largest and most successful franchise and fast food restaurant in the history of human kind.

How in the world is that possible!?

How can you become #1, by selling an inferior product?!

It goes against everything we think we know about business.

Well, this is exactly where the genius of Ray Kroc becomes apparent…

Ray knew the product wasn’t going to be the initial key to success for his franchise buyers, just as your product is not the initial key to your success in your mlm business. Having a good product is important after the fact… Once you actually have customers. Then it’s critical to give them exactly what they want.

The key to McDonald’s success with both franchise owners and customers, was their duplicatable system.

Ray knew his food couldn’t compare to the quality of other franchises. He also knew that potential franchise buyers didn’t give a hoot about McDonald’s or their burgers. What they did want, was to make money.

So Ray sold them EXACTLY what they wanted, which wasn’t a restaurant, but a machine that acquired customers, and turned them into cash.

He didn’t sell them the food, he sold them a system.

In fact the system was so fine-tuned, that you could take a team of unskilled, inexperienced high school kids, and have them run the show.

All they did was flip the switches, that ran the machine, which did the majority of the work behind the scenes.

The competition didn’t have a chance. Ray’s system was like a greased chute. You turn it on, and it churns out a predictable end result every time.

Franchise owners started buying and setting these machines up by the thousands, turned them on, and got the end result. That is why they bought McDonald’s and it’s inferior food over the competition.

As these machines popped up around the country, the end product to the consumer became more than just food. It became the predictable expectation and atmosphere provided by Ray’s magical machines.

And THAT is what McDonald’s provides better than anyone else in the world. That is their TRUE product to the consumer.

You go to McDonald’s because you know exactly what to expect. It’s a comfort for people.

So, as a network marketer, selling a business franchise, what are you selling to your potential buyers?

Unfortunately, you are probably trying to sell them on your company and your product. (A “mine-is-better-than-yours-burger-with all the trimmings”).

Am I right?

You have a ton of websites and material about your company’s history, their record breaking growth, their debt-free finances, the ORAC value of your product, the Physician’s Desk Reference number, the user testimonials… Blah blah blah.

Be smart.

Do what Ray did.

People get rich in this world by solving other people’s problems, and when you sell someone your opportunity, you are not solving a problem, you are giving them a bigger one!

“Congrats, you own the hottest networking business in the industry! (Slap on the butt), Now go get’em tiger!”

Product and comp plans don’t make you successful. Systems do. And when I say systems, I mean a complete system which includes the pieces that bring in your customers (ads), sell them your product (marketing), and then deliver the goods.

These machines (ads and marketing) should be doing the work for you. All you need to do is push the “Go Button” and become buddies (customer service, cashiers) with the folks who come through the system. Not because you are unskilled or lazy, but because a system is duplicatable and you are not.

It provides a predictable result.

Show them and sell them a system for attaining the results they want, and they could care less about ORAC values, price points, and competition.

Solve their problem.

Provide them with a system that will bring them the results they desire, and you will reap success beyond your wildest dreams.

Why do other networkers call my partners and I to join our team daily? Because we are selling them what they want: A system that produces results.

Get a copy of the one and only instruction manual in this industry that tells it how it is, and will show you how to turn your business into the ultimate franchise system.

Business, Marketing, McDonalds

June 19th, 2011 by admin

These days, selling a business requires as much planning as starting it. After all, you spend a great deal of your precious money and time on setting up a business; and obviously, you would not like to sell it for a loss. Not surprisingly, experts say it takes a business owner a minimum of 5 years time to implement a successful exit plan strategy.

There could be various reasons for selling a business. You could be compelled to sell a business because of bankruptcy or some emergency or natural disaster that may have disabled the business to operate. Or you might be thinking of selling a business to go into retirement.  Or better still, the plan might be to start a new business by selling the present one.

Usually, businesses do have some logical successors, especially the family owned businesses. But typically, the small and medium sized entrepreneurial startups do not have the luxury of logical successors. Hence, such entrepreneurs or small business owners are left with no option other than selling the business.

Whatever the reason, you need to chalk out an effective exit plan that yields profits for you. Here are a few things which you need to consider when you plan to sell your business:

Keep everything up-to-date

Selling a business is like selling a house. When a house is up for a sale, don’t you clean it up, give it a fresh coat of paint and make it presentable? Similarly when you plan to sell a business, keep everything organized and ready, right from the infrastructure to the financial records. Even if you are no more interested in running the business, you would still have to keep the financial or business records updated, keep the premises spic and span and the inventory full; in order to draw potential customers.

Check your facts about what you seek to sell

Selling a business doesn’t only mean physical assets. It includes trademarks, goodwill, clients list and so on. You have to determine whether you want to sell everything in the corporation or not.

Greater revenues

Place yourself in a buyer’s position and ask yourself this question: ‘Will you buy a business that doesn’t guarantee great revenues”. The answer will of course be NO. Can you then expect to attract good buyers if your business is not bringing in large revenues?

The key to getting good buyers and an expected price lies in maximizing your operating profits in the run up to the sale of the business. If you require proper guidance on how to maximize revenues, you can join a CEO peer group in Atlanta or any other city in which you operate. CEO peer groups are one of the best ways of getting practical guidance, especially if you are yourself a CEO, President or General Manager who does not get the right kind of support or honest opinions in his/her own organization.

Minimize risks

If you are confused about what you can do in your business to draw potential buyers; start thinking from a buyers’ point of view. No buyer will buy a business which involves big risks. Identify what needs to be done within your organization in order to minimize risks. Besides reduce your liabilities as much as possible and settle lawsuits if you have any.

Chalking out an exit planning strategy is not as easy as it appears to be. Therefore it is always a good idea to become part of a CEO peer group which can assist you in effectively carrying out an exit plan. CEO groups in Atlanta or any other city consist of CEOs, COOs and other top level executives who meet once a month to share their problems, business ideas and exit planning strategies. They counsel each other and give each other honest, no-frills-attached opinions and suggestions. Here you can expect to get practical ideas about how to conduct an exit plan.

Most of the time CEOs are so busy in managing their own businesses that they don’t get time to plan exit strategies. That is why it is all the more necessary to join a CEO peer group and take help from people who have years of experience behind them and can offer you practical advice and not just bookish knowledge.

Business, Selling

June 19th, 2011 by admin

Selling a business is neither an easy choice, nor an easy process once the choice has been made. In this article we try to cover some of the fundamental stages involved in selling a business.

To start with the seller needs to be sure that they want to sell a business. Many times sellers go through all the stages spending a lot of time and effort and money only to realise that selling is not what they want to do, pulling out of the sale. Be sure as a seller you understand why you want to sell.

The seller should get the business valued by professionals. Knowing what the true value of the business is puts the seller in a position to make better decisions resulting in a quicker sale for the correct price. Overvaluing the business just like overvaluing a house may result in no sale and no interest. Undervaluing may result in a quick sale but at the expense of selling the business out short. Again the criteria to use really will depend on the personal situation of the seller, i.e. how long they are prepared to wait for a sale and for what reasons.

Once a potential buyer has been located, the detail of the sale begins. To start with an agreement has to be made by the buyer and seller (Called the heads of terms) so that the framework of the sale can be agreed, i.e. price, time scales, and pre and post sale criteria that need to be met. Also it is an opportunity for both the buyer and seller to put in penalisation and confidentiality clauses to protect against the fact that the other party is not just snooping and is actually serious about the sale if all terms are met. This is especially important to the seller who wants to ensure that after divulging all the confidential details of their business to the buyer, the buyer just doesn’t pull out of the sale and use all the information learnt to their own advantage.

The buyer will want to confirm that what the seller has said about the business is true. There are two parts to this confirmation process known as the due diligence process.

Part one is accounting due diligence which means that the seller will need to provide the buyer with all accounts for at least the last financial year so that the buyer can verify turnover, profit etc. If the figures don’t match up then the buyer could pull out of the sale.

Part two is legal due diligence where contracts against the business on sale are checked, tax and vat and other liabilities are considered and generally all legal claims which could arise against the business on sale are considered. The terms and conditions of the sale and any restrictions and constraints against the seller and any guarantees of the seller are determined. Essentially the buyer is trying to ensure that once they have purchased the business there is nothing that could affect the smooth running or financial standing of the business on sale and if there is anything, then the buyer should know about it before purchase, because it could affect the buyers decision to purchase.

The details of how complicated the legal due diligence becomes is very much dependant on whether the business on sale is for the whole business or the assets and goodwill of the business.

To ensure that all stages of the sale go well there should be clear and open communications between the buyer and seller, and under no circumstances should the communication go between buyer to buyers legal counsel, to seller legal counsel and finally to the seller and vice versa. Legal counsel should advise individual parties and only deal with each other on specific legal matters.

Once the sale is complete and the seller has received his money, the seller will most probably be involved with the buyer for a period of time helping the buyer to take the business on board in a seamless manner. This is usually called the handover period.

To conclude, if both the buyer and seller are honest brokers and represent the details of the sale clearly and concisely from the very first, then there is no reason why the sale should not progress through with the minimum of pain.

Business, Selling

June 18th, 2011 by admin

There are a number of business owners who decide to sell a business especially if they can no longer support the business on their own. It is only fortunate for them that there are some people who are interested to purchase their business because otherwise, they would be forced to close the business down and declare a bankruptcy. But for those who have trouble selling their business, there might be some things that they are not doing right. Any business can be sold, with the right price and tools.

The problem with a business for sale is that there are business owners who have trouble getting investors to take a second look at their establishments. Although there are several reasons why this happens, there are business owners who do the common mistakes in this venture. This is why identifying these common mistakes is important:

Lack of Preparation

One of the most common mistakes in businesses for sale is that there is insufficient preparation. Before hanging up a “for sale” sign on the business, there are some important aspects of the business that need to be addressed. These concerns include sustainable profitability, financial documentation, staffing problems, lease issues and many more. While these have an effect on the salability of the business, it can also have an impact on the price of the business.

Overconfidence

The second problem with people who sell a business is that they are too confident. Sometimes, being overconfident is a struggle because it lets these business owners neglect the activities that can ultimately affect the real price of the business. There are several owners who have trouble selling their business because they have a price that is too different from the actual value of the business. Although they believe their business for sale is worth as much, the reality is that the value of their business lies on quantifiable criteria and not their personal estimate of worth.

Cash Only Policy

Another common mistake that prohibits businesses for sale from being sold successfully is that there are several business owners who have an unrealistic wish of getting upfront cash for their business. They don’t consider other offers, especially those that come with financing and deferred payments. They only entertain cash offers which are hard to come by these days.

The problem with these common mistakes is that they stop an establishment from being successfully sold to other people. As a result, the business will forever be held at a knife’s edge. In order to avoid this, hiring the services of a professional business broker is recommended. Because he has established a solid experience on how to sell a business, he can easily do the same for any business property.

Business, Sell

June 18th, 2011 by admin

Baby boomers who own businesses and are looking to retire often look within their own personal networks first when considering selling a business.

People often have an urge to deal with someone they know when it comes time to sell their business and many times the idea of selling a small business to a family member may seem like a logical choice. Sometimes the transaction goes smoothly and there are no complications. Sometimes, however, the deal adds significant pressure to a relationship and things can go wrong very quickly.

This article will explore some of the negative consequences of selling a company to a family member because people usually don’t consider the worst case scenario often until it’s too late.

Determining the Selling PriceSelling your business to a relative may seem like you’re really being efficient. The search to find a buyer is not required, there is no business for sale listing and the general inconvenience of the entire business sales process is avoided. However, the “pain” to find a business buyer also usually results in the market determining the ‘true’ value of the business from two unrelated or unaffiliated parties dealing at an arm’s-length.

If you sell a business to a family member, are you truly dealing with a buyer who is at an arm’s length? Also, without showcasing the business to several buyers, how do you know that the value you are getting as the seller is maximized? Determining the sell price of a business can be very difficult if the business is not properly listed.

Negotiating the DealSuppose the buyer (your relative) offers certain deal points, such as an aggressive vendor take-back term or an onerous training period. How willing would you be to aggressively negotiate with them? If you were dealing with an unrelated party, you may be more inclined to negotiate more intensely. If you ‘hold back’ on negotiating with a relative as aggressively as you would have, it is possible that you will not get the full value for the business sale.

Suppose the Business Fails after the SaleImagine a scenario where you sell a business to a relative and the venture suffers after they take it over. Perhaps they don’t possess the same work ethic as you, don’t have the same expertise in the operation or maybe they are unfamiliar with the area. Example – if you sell to someone from Oakville or Burlington and you own a Toronto, Ontario business then it is quite possible that they don’t know the market well enough to be effective. If the business does suffer after the sale, that could put an enormous strain on the relationship – which leads to the next point.

Are you Prepared for Damaged Relationships?If the business does not go as planned after the sale, there is the potential for resentment. The business does not even have to lose money, per se, for the relationship to suffer. Suppose, for instance, that the business requires more work than was initially imagined or that the new owner is not as happy as he or she assumed they would be. Prepare for the worst.

If you are ready to sell your small business please consult with a business broker to learn about your options. Doing business with family needs to be very carefully considered before you make a final decision because there are many potential negatives you can encounter.

Business, Selling