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
Building Relationships with Clients: The Importance of Trust and Communication in Business Brokerage
Steps to building client relationships If it feels like keeping clients is more challenging than getting them in the first place, you’re not alone. But the reality is that retention is easier than you think and offers so much more value for your business. Be reliable: Reliability forms the cornerstone of any successful client relationship. Consistently delivering on promise
Maximizing Value for Your Business Sale
Essential Business Development Strategies for Business Owners Maximizing your business’s value before a sale is essential. But that doesn’t happen without a little effort. That is why strategic financial planning matters. It enables you to present your company to potential buyers in the best possible light. By meticulously organizing your business sale in advance, reviewing your finan
The Top Trends in Buying and Selling Businesses in 2024
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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Leveraging Social Media to Attract Buyers for Your Business
Social media is here to stay, and it’s vital that businesses harness its power to stay ahead, especially when it comes to selling their companies. According to Statista, over 4.59 billion people were using social media worldwide in 2022, more than half of the 7.95 billion inhabitants at the time. That number is projected to increase to almost six billion in 2027. Social media is a highly eff
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Understanding the Role of Technology in Modern Business Brokerage
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 to go from weighing 30 tons and taking up 1,800 square feet of space to the world’s current smallest complete, operational computer that measu
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Timing the Market: When Is the Best Time to Sell Your Business?
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
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Top 5 Mistakes to Avoid When Selling Your Small 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
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Valuing Your Business: How Business Brokers Determine Worth
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
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How to Reduce Owner Dependence When Selling
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. Thinking Of
How to Find the Best Advisor When Selling Your Business
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
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The Rise of Recession-proof Businesses
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
Who's Buying and Who's Selling in 2023
As the financial recovery from the pandemic continues, Transworld of Southern Ohio’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. &
2023 Main Street Market Report
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 of Southern Ohio our latest Market Report shows you’re choosing the best. Let’s dive into Transworld of Southern Ohio’s small business transaction activity for 2022 and learn more about what sets Transworld of Southern Ohio&
How to Choose the Best Deal for You and Your Business
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
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Selling Your Business
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
Top 5 Reasons to Work with a Business Broker
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
I'm Ready to Sell, Where do I Start? Steps to Selling your Business
Business owners are like a diamonds—no two are alike. The same holds true for why a business owner opts to sell their business. Each business owners’ reason for selling varies and will be based on a variety of calculations from preparing for retirement to wanting to start a new venture. The process of deciding to sell can be difficult and drawn out. However, once the decision ha
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3 Tips for First Time Business Sellers in Southern Ohio
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
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What's the Difference Between the Listing Price and the Selling Price?
If you’ve ever bought a house, you know that the appraised value isn’t what the house typically sells for in the end. It isn’t even what the sellers will use as the listing price in most cases. Most houses sell for a price that is more (or less) than what the seller asked for it. The same holds true for a business being sold. Why aren’t the listing price and the selling pr
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Thinking of Selling Your Beauty or Personal Care Business in Southern Ohio? What You Need to Know in 2022
How people accessed many personal care experiences changed during the pandemic, but the industry adapted in many ways like by going online with their products or taking a more natural approach. The world has reopened, and beauty-based companies continue to rebound, so you may be asking—is now a good time to sell? Selling a beauty or personal care business in Southern Ohio is not very differ
How Long Does It Take to Sell a Business?
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? This graph represents the average number of months to
How Inflation Impacts the Sale of your Small Business in Southern Ohio
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 now is
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