An Overview of Goodwill in Business Deals

Many business owners don’t understand the concept of goodwill or how to calculate it. When a buyer is willing to pay a premium price for a business, far more than the company’s assets would typically dictate, that is considered goodwill.  Any company can benefit from understanding how goodwill is cultivated and increasing it within their…

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How to Get Ready to Sell Your Business

You may have heard the advice, “the best time to prepare to sell is when you start your business.” While this statement is far from realistic for most business owners and may even sound humorous, it does contain a certain amount of wisdom. When it comes to getting the best outcomes selling your business, preparation…

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Leases: Key Considerations That Can Make or Break a Business

Are you selling a business that involves a lease? If so, this will be a factor that has significance to a buyer when you go to complete your deal. If your business relies heavily on its location and you don’t own property, then you’ll find the lease will be quite an important consideration for your…

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Disruptive Factors in Selling Your Business

At some point, every business owner will need to think about selling his or her business. This means you’ll need to be ready to overcome a range of obstacles, as the process of selling a business can be both confusing and time-consuming. This is especially true for those who have not gone through the process…

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Selling Your Business – Sometimes It’s Just a Matter of Luck

When it comes to selling a business, sometimes you just get lucky and the perfect buyer is waiting in the wings to hear that you are thinking of retiring. Such was the case in the recent sale by Stephen Kosacz, the owner of Autoworks in Kittery, ME to Patrick Horan. Patrick has been a shop…

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Put Your Strengths First When Selling Your Business

You understand the finer points and potential of your business better than anyone; however, that doesn’t mean that prospective buyers will instantly see your business’ various strengths. When you are looking to sell your business, you have two very important jobs. The first is to get your business ready to be sold. A second essential…

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The Often-Overlooked Importance of Leases

When buying or selling a business, it is critically important that you evaluate the lease. It is a strange phenomenon that otherwise savvy business people will treat leases as a secondary concern. However, problematic terms in a lease can literally force you to pack up a business and move. This would not only be a…

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Buying or Selling a Business: The External View

There is the oft-told story about Ray Kroc, the founder of McDonalds. Before he approached the McDonald brothers at their California hamburger restaurant, he spent quite a few days sitting in his car watching the business. Only when he was convinced that the business and the concept worked, did he make an offer that the brothers…

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How Understanding Psychology Can Benefit Your Deals

We work closely with our clients to preserve the integrity of deals so that they have the best chance of a successful closing. An often-overlooked aspect of the process is understanding and embracing human psychology. In this article, we will explore some of the most common ways that psychology comes into play.  The Element of…

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10 Mistakes that Sellers Make

1. Not knowing what the business should sell for One of the most costly errors a business owner can make is not knowing the approximate price of his or her business prior to entering the selling process. Although the marketplace ultimately determines the final price, an owner needs to know what the approximate price his…

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