Many optimistic business sellers research the internet for the holy grail of pricing their business. They're looking for the perfect article, youtube video, or business expert to reference a "Magic Multiple" they can use to calculate a lottery-ticket sized sale price for their business. As good as the inflated price sounds, there is no magic [...]
"If I sell there will be trouble, an' if I close it will be double." When a business owner is ready to step away from their business, there are two directions to consider when creating the exit strategy: Sell to someone to "Keep the Business Open" or "Close the Business" and break it apart to [...]
I often consult with business owners with over 30 years of operational history. They usually own all their vehicles, equipment, inventory, and real estate completely debt-free. This is a great accomplishment, and they should be proud to have paid down their debt! Unfortunately, a side-effect of owning everything outright is that business owners often reduce [...]
During a recent meeting, I was asked what type of business do I consult on the most. No need to reflect or hesitate for an answer, my quick response? - "Fitness businesses." In the past 18-months, I've consulted with owners and potential buyers of six fitness-related businesses in North Alabama. Of these six consultations, only [...]
