Blog for Business Buyers and Sellers

As we all know, the Internet has become a valuable tool for researching business opportunities, hiring staff and even funding your expansion. But what about negotiating the purchase or sale of a business? Whether you're looking to sell your business or buy a new one, chances are you have considered a business broker to help you navigate the process.

This may sound like a contradiction, but a business degree really isn't necessary to run a business. Despite all the well-meaning parents out there who strongly recommend it, entrepreneurs are not "cookie cutter" business majors.

If business ownership is your aspiration, it never hurts to have an education, but a true entrepreneur makes his or her own destiny. You will rarely need an impressive-looking resume; and for that matter you really don't need a degree at all. Believe it or not, one of the best things college can do is teach you discipline. You might also meet some valuable business connections while you're there.

Every business model has its own set of challenges and rewards, and the fast food business is no exception. Many owner-operators who have chosen fast food enterprises have no idea what they are signing up for until they get started, and they will tell you there is no shortage of excitement. But the most exciting part about starting this type of business isn't the food; it's the earning potential!

One of the most stressful times in an entrepreneur's life is when they prepare to sell their business. Whether the reasons are family-related, financially motivated or just retirement, there is always a certain amount of fear about the unknown. If you are considering a business listing in a "for sale by owner" directory, or placing an ad in an industry publication, you might want to do some homework first.

There's something about the phrase "vertical integration" that sounds like more of a buzzword than a way to make money; but it has actually become a worthwhile endeavor for many entrepreneurs. In the online dictionary, vertical integration (ver•ti•cal in•te•gra•tion) is defined as "the combination in one company of two or more stages of production normally operated by separate companies." In more practical terms, vertically integrated companies have a hand in more than one part of a given industry.

Selling a business isn't as easy as selling a car or selling a home. But if you're savvy and you understand the basics marketing it can be quite profitable. The problem that most business owners face is how to keep the business running while looking for a buyer, all the while keeping the sale confidential. As tricky as this can be, online business directories make it a whole lot easier.

When you're entering the world of business ownership for the first time, it may be tempting to believe everything you are told by the current owner, but even the most honest-looking sellers can twist the truth a little. In a questionable economy where every dollar counts, it's important to check with a business valuation specialist before you make the decision to buy. Business brokers will rely on a number of different industry-specific formulas and other sources to help you come up with the right bidding price, but it helps if you understand their methodology.

We all know the value of “staging” a home for potential buyers before an open house, and getting a car detailed before we sell it, but for some reason entrepreneurs do very little to make their business more marketable.  Maybe they figure they’ve poured enough time, money and energy into the enterprise and they just want to get their money and move on.  But in this competitive environment, is that really the best approach for your business?

As we approach the beginning of the last year before full implementation of Obamacare, it's obvious that small business owners are getting nervous. They're hearing about large restaurant franchises like Applebee's and Papa John's Pizza who expect to lay off workers because of fines. Perhaps their own group health plan has changed its coverage and raised premiums already. Never before has there been this much uncertainty about a single topic that affects small business, but is all this worry really necessary? The reality is that the Affordable Care Act is actually a lot less complicated than you think.

There's a new breed of entrepreneurs out there, and they're not looking for funding. They know their business well, perhaps a little too well, but they need some new ideas. Some might call them fortunate, or even fortune-seekers, but they all have one thing in common – they are the next generation of a family business. From birth they knew that one day the baton would be handed over; they just didn't know when.