For some, spending their career working to help expand a corporation is ideal. They appreciate not being in charge or having the responsibility over operations or employees. But for others, they dream of working for themselves, starting a small business, watching it grow, and facing the exciting challenges and wins entrepreneurs face. If you fall into the latter category and have begun to explore
There is no denying the importance of social media in business today. Anyone looking for social media ideas for small businesses needs to take advantage of market research and industry trends to expand their reach. But what are the most effective ways to use social media to benefit the economic growth of your company? Let’s explore how to develop a business effectively with the assistance of
Thinking of selling your business? It’s a big decision, but it is a pivotal first step toward realizing the next step in your career, whether that means retirement or starting another venture. No doubt, you’ve spent considerable time weighing the pros and cons. Selling a business is a significant undertaking that requires careful planning, strategic thinking, and a keen understanding o
In the dynamic landscape of business ownership, staying ahead of trends is crucial. Whether you're an aspiring entrepreneur or a seasoned business owner, understanding the current market trends can significantly impact your success. If you are looking to improve your entrepreneurial skills in the coming months, there are some key trends you should be aware of that are shaping the buying and sellin
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By Drew Rutherford When buyers first explore the world of buying and selling businesses, many ask me why they should buy a business when starting one from scratch can be done so much cheaper. Why buy? The answer lies in what you get when you buy an established business. What do you get? Would you rather find a good customer or keep a good customer? This old customer servic
From the wheel to the steam engine to computers, technology continues to evolve and shift how we live our lives. The speed and power of computers have doubled about every two years over the last 60 years, which has enabled us to go from computers weighing 30 tons and taking up 1,800 square feet of space to the world’s current smallest complete, operational computer that measures only tw
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You’ve spent years building and growing your business. You’ve dedicated so much of your time and energy to ensuring its success, but it can be challenging to determine when the best time is to sell. People sell businesses for a variety of reasons. When preparing a plan for selling your business, it’s a good idea to be straightforward and honest about what it would take to prepare
Read More “Timing the Market: When Is the Best Time to Sell Your Business?”
You know how to operate your business, and you’ve built it into a very successful enterprise. Congratulations! However, the time has come to move on, whether it is for a new challenge or to kick back and enjoy the fruits of your labor. No matter the reason, you are ready to sell. However, too many small business owners mistake the knowledge they have accrued running their business as giving
Read More “Top 5 Mistakes to Avoid When Selling Your Small Business”
When the decision has been made to sell your business, the next step is perhaps the most crucial of all: determining the value of your business. There are several ways this can be done, but it isn’t an exact science. For that reason, it is essential that you seek out a trained broker to help you determine how much your business is worth. But don’t expect that broker to tell you everyt
Read More “Valuing Your Business: How Business Brokers Determine Worth”
Many business owners may think that the tough part is over once they make the call to sell their business. While there’s no doubt that decision can be hard, there is still work to be done. Owners must adapt their business environment to continue running without them. Working with an experienced broker can make all the difference as a company shifts towards new leadership. Thinki
Do-it-yourself home repairs have definitely had their moment in the sun. But for anyone that has paid attention to that trend, it quickly became apparent that having an expert remodel a home offered a considerable advantage in terms of the quality of the work. The same holds true when it comes to other big tasks, such as selling your business. Sure, no one knows the ins and outs of your business b
Read More “How to Find the Best Advisor When Selling Your Business”
KNOXVILLE, TENN. – Transworld Business Advisors announced today that Adam Bassett has joined the company as their newest Business Advisor. Based in Sevierville, TN—home to the Great Smoky Mountains— Adam offers business owners looking to sell their ventures and astute buyers seeking lucrative investments a distinctive combination of local expertise and a wide network of opportun
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During the last 25 years, the U.S. and the world experienced two major economic upheavals. First, the Great Recession from 2007 to 2009 took about ten years to recover from completely. Then there was the financial crisis brought about by the COVID-19 pandemic and the subsequent lockdown. As a result, the term “recession-proof” has become quite common — whether among those in busi
The road to reach closing is a long and tedious one. As a seller, working with your broker, you have already gone through business pricing, organizing financial documents, and working on the offering package. After all of that, there is still the process of meeting and negotiating with potential buyers with your broker until you have found the right one. Likewise, as a buyer, you have had to work
As the financial recovery from the pandemic continues, Transworld’s Main Street Market Report found that business acquisitions were up more than 32% from 2021 to 2022. This rebound is great news for buyers, but to fully understand the uptick, let’s drill down into who is currently looking to sell their businesses and which demographics are primed to make a purchase. Who’s Sellin
Selling your business is a big decision. Equally important is finding the right business advisor to help you navigate the process. When you select Transworld our latest Market Report shows you’re choosing the best. Let’s dive into Transworld’s small business transaction activity for 2022 and learn more about what sets Transworld’s business advisors apart. Another historic
Anyone thinking of selling their business needs to be prepared to negotiate. Why? Because your goals and the buyer’s goals may be the same—to get the best deal—but that doesn’t mean the same thing for both parties. It will take time, and some give and take on both sides to arrive at an optimal deal for everyone involved. Ensuring that you are negotiating from a position of
Read More “How to Choose the Best Deal for You and Your Business”
How challenging can selling a business be? On the surface, the prospect appears simple. First, you have a business and want to sell it, then you share that information and wait for a buyer. But the reality is both more complicated and more nuanced. Using a broker takes the pressure off you so you can focus on your business operations. Few business owners understand everything involved in selling
As a business owner, you have likely spent hours, days, months or even longer agonizing over whether to sell your business. While in a perfect world the hard part would be over, the reality is making the decision to sell is simply the first step in a complicated process. Fortunately, there are ways to simplify the experience. To start, it’s a good idea to have a checklist of what steps to e
Whether you’ve spent a lifetime operating your business or have just recently taken the reins, when it comes time to sell, you want the experience to go well. And by going well, people typically mean without a lot of headaches, and, of course, with a tidy profit. Achieving those goals becomes much easier when you enlist the aid and support of an experienced business broker or advisor. Trans
KNOXVILLE, TENN. – Transworld Business Advisors announced today that Chris Whitehead has joined the company as their newest Business Advisor. Chris has over 8 years of nonprofit work experience serving the Knoxville community in many capacities. “I’m very happy and excited to be a part of the Transworld company as a new Advisor. I’m looking forward to helping owners and bu
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Be ready this year! View our Pre-Sale Checklist for Selling Your Business Starting fresh in the first quarter is always a perfect time to plan for the coming year. As a small business owner, you might be thinking about selling your business. Whether the reason is early retirement or the desire to invest in a new endeavor, there are definite steps you can take to prepare your business for sale. Co
KNOXVILLE, TENN.—Transworld Business Advisors announced today that Kelly Kasper is joining the company as director of operations. Kasper brings more than a decade of experience in higher education to the Transworld Knoxville and Chattanooga team. In the director of operations role, she will focus on supporting the Knoxville and Chattanooga teams to ensure efficient office operations
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You’ve made the decision to sell your business. Congrats! There’s no doubt that a lot of stress is wrapped up in deciding to sell, but there’s also a great deal of excitement. As a result, it can be very easy, especially for first-time sellers, to forget that selling a business is a multistep process, requiring careful planning to maximize your potential returns. We’ve got
Homebuyers are familiar with the mantra—location, location, location. Well for a business owner looking to sell their business, there’s an equally important phrase to remember—timing, timing, timing. But if you are looking into selling your business, what does that mean for you? And exactly how long will the process take? A main street business can take more than six months t
From the pandemic’s supply chain issues to the current worries over rising inflation, many small businesses have been struggling to adapt to the sudden shifts of today’s economy. With inflation in June hitting 9.1%, more than the Dow Jones estimate of 8.8% for the month, more and more businesses are worrying about how exactly inflation has and will impact their business, and if no
Read More “How Inflation Impacts the Sale of your Small Business”
HIRES LAUREN WINGROVE TO SERVE HAMILTON COUNTY BUSINESSES KNOXVILLE—Transworld Business Advisors announced today that Lauren Wingrove has joined the company in their new Chattanooga agency as a Business Advisor. Lauren has started several businesses of her own and will help owners sell their businesses as well as help buyers find good businesses and/or franchise opportunities. She wil
Wondering if your business is ready to be franchised? When thinking about franchising your business, there are a few key criteria to consider. Working with a franchise consultant can help you determine if: 1) you offer a superior product or service, 2) your concept is easy to share and teach, 3) your concept is easy to replicate across a diverse set of locations, and 4) your concept is not one tha
There are many search tools available on the web to locate potential businesses for sale. These listings provide a snap shot of the opportunity for the prospective buyer. Working with a business broker helps potential buyers to not just find an opportunity but also evaluate the right opportunity. Beyond the business listing, here are some core things to look for when evaluating the right bus
Read More “Businesses for Sale: How to Find and Buy a Business”
Owning a franchise presents an exciting opportunity for both new and experienced business owners. A franchise is a unique business model that differs in some key ways from independent business ownership. If you are thinking about purchasing a franchise, there are a few things to consider. Here are some ways to determine if owning a franchise is right for you, along with some considerations to help
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KNOXVILLE, TN – The International Business Brokers Association (IBBA) is pleased to announce that Doug Kose of Transworld Business Advisors has earned the prestigious Certified Business Intermediary (CBI) designation. The CBI, which represents the gold standard in the business brokerage industry, is granted to individuals who complete required course work, pass an extensive
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 sai
Read More “How Quickly Can I (or Should I) Sell My Business?”
For many entrepreneurs, selling a business is about more than money—it’s about passing down a legacy. After years of hard work, it’s only natural to want to see your creation in the hands of someone who shares your passion. However, finding that perfect “someone” can be a challenge. Not everyone that can buy your business should buy your business. As veter
KNOXVILLE, TN, Jan 18, 2022 – Transworld Business Advisors promoted Sheila Hansen to the position of Senior Business Advisor at Transworld Business Advisors of Knoxville and Sevier County, TN. In her position as a Business Advisor and resident of Sevier County, Sheila has been instrumental in bringing new business and brand awareness to the Sevier County area, facilitating nu
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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
Are you ready to sell your business, but still on the fence about using a broker? You’re not alone. Many business owners, especially first-time sellers, feel compelled to DIY the process, thinking it will save them time and money. Selling your business can be a long process with many tedious steps. An experienced business brokerage (plus the valuable resources they bring to the table)
Read More “Pros and Cons of Selling your Business Without a Broker”
KNOXVILLE, TENN. – Transworld Business Advisors of Knoxville celebrated with the West Knoxville Chamber of Commerce, business community leaders and colleagues a new office location ribbon cutting event. Over 50 people attended the celebration, located at 5816 Kingston Pike in Knoxville. Transworld Business Advisors of Knoxville provides guided, professional help for entrepreneu
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KNOXVILLE, TENN. – Beginning Thursday Sept. 2, Knoxville-area entrepreneurs will have a new and unique opportunity to receive free, confidential advice on selling their businesses. Transworld Business Advisors of Knoxville will kick off its first Ask the Experts session from 11 a.m. to 1 p.m., with staff on hand to field questions from local business owners. Ask The Experts
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Finding the right buyer for your business goes beyond getting the highest offer possible. As a seller, you're looking for the most qualified buyer that best aligns with your values. After years of building your business, it’s natural to want a big payoff. But there are other factors, like preserving your legacy or maintaining the integrity of your company, that matter too. Add value
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Knowing what your business is worth is key to selling it at a profit. Your business valuation is also likely to be the first concern of potential buyers. So how do you properly determine the value of your business? The answer can be complex and somewhat confusing because business valuation is an art, not a science. Valuations are subject to the appraiser's judgment, skill, and quality of methodolo
There are many reasons why people seek to buy businesses. In this article, we outline the three main types of buyers that prospective sellers are likely to encounter: Individual Buyers, Strategic Buyers and Financial Buyers. Since each of these buyer types comes with their own unique interests and behaviors, understanding their personas and motives can help you maximize the value of your business.
When considering selling your business, it is crucial that the potential sale remains confidential. Having employees, customers and vendors learn of a possible sale can have devastating consequences on the business. For instance, customers may leave, employees may seek out other opportunities and the valuation of your business may decrease. These problems may weaken your bargaining position as you
Read More “Considering Selling Your Business? Tips for Keeping Your Potential Sale Confidential”
Money can be considered a taboo topic of conversation in some circles. As a rule of thumb, you do not speak about salaries, debt, or the cost of your most recent vacation with friends or family, do you? We understand that, but when it comes to selling a business, we need to talk about money, and more specifically, cash. What is cash and how does it affect your business when you are selling it? Wh
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. i
The market has experienced one of the most sudden and, for some, catastrophic economic declines in our history. There is no shame in feeling a little bit like you are between a rock and a hard place – having to decide whether to possibly close a business or sell a business. The important fact is, this is not a reflection of you, your work ethic, professionalism, or entrepreneurship. In fact,
It is officially 2021, and what was quite possibly the most challenging year for your company is behind us. 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 business? Inevitably, because ma
Read More “How to Value Your Company After COVID - It May Not Be As Difficult As You Think”
Now more than ever, we want to figure out how to make our businesses more valuable. With small businesses being affected the most during the COVID-19 crisis, strategies for adding value are vital, and also very possible. Let’s take a look at some changes you can make to increase value in your small company long-term. Instant Gratification: Faster Service & Faster Delivery In the age of
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TRANSWORLD BUSINESS ADVISORS EARNS TWO BEST OF THE BEST AWARDSNamed Best Business Brokerage Firm from City View Magazine and Knoxville News Sentinel KNOXVILLE -- Transworld Business Advisors of Knoxville has been selected the 2020 Best Business Brokerage Firm by community votes in both the Knoxville News Sentinel AND City View Magazine. Each year, both publishers have a website for the co
To sell your small business, there are some very crucial steps to take before the listing. For one, it is very important to understand your business’s value in the marketplace. Obtaining a valuation allows you to thoroughly understand a business’s financials and their value in the marketplace, and give you an understanding of the price at which you should list your busi
DREW RUTHERFORD NAMED AS KNOXVILLE '40 UNDER 40' HONOREE Drew Rutherford, Senior Business Advisor for Transworld Business Advisors, has been named one of the recipients of the prestigious Knoxville's 40 Under 40 for the Class of 2020. Rutherford was chosen due to his community involvement and service of giving back to others. Drew gives back to numerous non-profits via hi
IS A BROKER WORTH THE EXPENSE? Hiring a business broker may seem complicated and an unnecessary expense to someone who is trying to save money and simplify the sale of their business. Why add more to your long list of to-dos when you have enough going on? Well, the thing is, a business broker is so much more than just an extra set of hands. Studies have shown that working with a broker increases
Read More “5 Reasons Business Brokers Improve Closing Rates”
TRANSWORLD BUSINESS ADVISORS HIRES SHEILA HANSENHANSEN WILL FOCUS ON SEVIER COUNTY KNOXVILLE -- Transworld Business Advisors announced today that Sheila Hansen has joined the company as a Business Advisor. Sheila is a small business owner herself and will help buyers find good businesses and/or franchise opportunities, and helping sellers find good buyers. She will focus her efforts in the
Are you ready to take the next steps in your career? Are you hoping to sell your business but unsure of where to begin? Follow these simple steps for selling your business for the best price and wherever you need an extra hand, we recommend you reach out to an experienced business broker for guidance. 1. Business Valuation A business valuation is alw
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There are many reasons why a business owner decides that the time has come to move on from the business and begin to look for the right buyer. We will cover the most common causes are retirement, relocation, ready to do something else, health issues and the five D's. Retirement The most common reason for selling a business is because the owner is retiring. -63% of privately-owned busine
How can I maximize the value of my business? As a Transworld Business Brokerage, we are asked this question frequently. In this section, we will discuss the steps and strategies that a business owner can employ when preparing to sell a business. The key is preparation – the better prepared your exit strategy is, the higher the selling price it will command, and the more likely
The current situation is extraordinary, with many countries experiencing COVID-19 lockdowns, which is proving challenging in the business arena worldwide. Some industries will be adversely affected, as will certain types of businesses, which is a heart-breaking reality. But based on what we have seen in the past, economic uncertainty can also prove beneficial, especially for those who have been po
We hope that you, your families, and your employees are safe and are doing what’s needed to get through this crisis. We want you to know that Transworld Business Advisors will remain active to continue to work on your behalf. Below are some strategic financial tips to consider preparing for today with the ever-changing situation.The U.S. Small Business Administration (SBA
Let’s examine the buyer qualification process from business owners looking to sell their company. A common question we receive from owners is, “How do we find the right buyer for a business that is for sale?” For good reason, business owners are concerned with the legacy of their company and want to ensure there are checks in place as potential buyers move through the buying proc
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As you begin the process to become a business owner, there are certain steps all new owners must follow to be compliant with the local, state and federal government. How do you legally start a business? There are three main aspects of legally starting a business: - Corporate Structure - Tax Identification Numbers - Entity Registration The corporate structure you choose can influence everyt
Read More “Steps to Launching a Business and Entrepreneurship Options”
READY TO BE BOSS FREE AND BECOME A BUSINESS OWNER? Are you ready to become the boss instead of reporting to one? Do you have an entrepreneurial spirit that is ready take the reigns of your own work schedule? There is no particular path to becoming a business owner or becoming an entrepreneur. Each person has to navigate their own course. The most typical ways of becoming an owner are: - Starting
Drew Rutherford: Former GM Of All Occasions Party Rentals Knoxville -- Transworld Business Advisors announced today that Drew Rutherford has joined the company as a Senior Business Advisor. Drew recently served as General Manager of All Occasions Party Rentals for the past three years. Rutherford established and ran Tailgate Tennessee since its inception in 2012. Rutherford was also
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Knoxville - Transworld Business Advisors of Knoxville has been selected for the 2019 Best of Knoxville Award in the Business Broker category by the Knoxville Award Program. Each year, the Knoxville Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positiv
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