As we head toward the end of 2024, there’s good news for small business owners looking to sell—and buyers ready to invest. According to BizBuySell’s latest Insight Report, the market for small businesses is growing, and confidence is on the rise. Confidence is Up for Both Sellers and Buyers With the US Presidential election less than a month away and the Federal Reserve recentl
Read More “Small Business Sales Are Booming: What You Need to Know from Q3 2024”
In any relationship, trust and communication are key—business is no different. These two elements are crucial in business brokerage for building strong client partnerships. But how do you ensure you have both? Here are some practical tips. Steps to Building Client Relationships Keeping clients can be easier than finding new ones, and it brings more value to your business. Here's how to fos
Read More “Building Client Relationships: Trust and Communication in Business Brokerage”
Interest rates have been a hot topic for small businesses recently, especially after the federal funds rate hit a 23-year high in July 2023. While the Federal Reserve finally cut rates by 0.5% in September 2024, small business owners are still dealing with the impacts of these rate changes. So, how do these fluctuations affect your business, and what should you be aware of? What Are Fed Rates? T
Read More “October 2024 Insight - Interest Rates and the Impact on Small Businesses”
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. Selling a business is a significant undertaking that requires careful planning, strategic thinking, and a keen understanding of the process. And above all, it means finding the right buyer. Let’s
Read More “A Guide to Your Business' Value and Finding the Right Buyer”
The International Business Brokers Association's (IBBA) Q1 2024 Market Pulse Report offers valuable insights into the current state of the small business mergers and acquisitions (M&A) market. Here are key takeaways for business owners and prospective purchasers. Waning Impact of COVID-19 Business brokers report a significant shift in buyer sentiment. 80% indicate a focus on lo
Read More “Key Updates From the IBBA Q1 2024 Market Pulse Report”
Small business acquisitions are on the rise in 2024, marking a significant rebound after a relatively stagnant 2023. Despite challenges such as inflation and rising interest rates, the small business market is showing resilience and promise. Here are the top three trends shaping small business acquisitions this year: 1. Small Business Acquisitions on the Rise According to BizBuySell's Insight Re
Read More “BizBuySell Insight Report for Q1--Acquisitions Increase, But Some Headwinds Remain”
The most recent BizBuySell Insight Report provided some interesting predictions for 2024. The most important takeaway is that the landscape for buying and selling businesses presents both familiar challenges and new opportunities. The past year's rollercoaster, marked by inflation, interest rate hikes, and the ever-present threat of recession, has tested the resilience of business owners and the m
Congratulations! You know how to operate your business, and you’ve built it into a very successful enterprise. 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 to succeed in their busines
Read More “Top 5 Mistakes to Avoid When Selling Your Small Business”
Do-it-yourself home repairs have had their moment. But for anyone that has paid attention to that trend, it quickly became apparent that having an expert remodel their 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 better than you do,
Read More “How to Find the Best Advisor When Selling Your Business”
The thought of selling your business to a competitor can seem daunting. However, it is not uncommon and certainly not impossible. There are 6 major tips for successfully doing so. Do not turn over confidential information too soon A nondisclosure agreement (NDA) is critical during any sale but especially when selling to a competitor. A potential buyer should never have access to trade se
Read More “Thinking of Selling Your Business to a Competitor? Here's How to Do it Right!”
Selling a business is a significant decision, and doing so in the midst of a dynamic and uncertain economy requires careful and strategic planning. While economic conditions may present challenges, they also offer opportunities for savvy entrepreneurs. Assess the Market: Before embarking on the sale process, it is crucial to assess the market conditions and understand how the current economy may
Read More “Navigating the Sale of Your Business in the Current Economy: Strategies for Success”
The most recent BizBuySell Insight Report, which surveys business brokers and small business owners for information on small business sales as well as general economic information, has been released. As the economy continues to be uncertain, there are three main takeaways from the report, which we outlined below. You can also read the full report by clicking HERE. Closed Transactions Bounce 4.8%,
Read More “Three Key Takeaways from the BizBuySell Q1 2023 Insight Report”
Once you have made the decision to sell your business, you need 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 fro
Read More “How to Get the Best Deal When It's Time to Sell Your Business”
How challenging is selling your small business? 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 an knowledgeable business broker takes the pressure off you so you can focus on your business operations. Few business owners understand al
The quarterly International Business Brokers Association (IBBA) and M&A Source Market Pulse Survey was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values $0-$2MM) and the lower middle market (values $2MM -$50MM). We want to provide you with some of the key points reviewed in the report. Why Most Deals Don’t Close and What You
Read More “Key Takeaways from the IBBA Market Pulse Report for 4Q 2022”
The Q3 Insight Report is in, and we have a few key takeaways for you! After five consecutive quarters of year-over-year growth, small business acquisition activity has slowed, according to BizBuySell’s Insight Report for Q3 2022, which tracks and analyzes U.S. business-for-sale transactions and sentiment from business owners, buyers, and brokers. 2022 Q3 Closed Small Business Transactions
Read More “Three Key Takeaways from the BizBuySell Q3 2022 Insight Report”
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 less (or more) 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
Read More “What's the Difference Between the Listing Price and Selling Price of 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? As seen in the above chart (where intervals are measu
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”
We just received the quarterly International Business Brokers Association (IBBA) and M&A Source Market Pulse Survey, which was created to gain an accurate understanding of the market conditions for businesses being sold in Main Street (values under $2MM) and the lower middle market (values $2MM -$50MM). Market Headwinds are a Concern Labor shortages continue to create concerns for buyers,
If you’ve been following the news over the last few years, you know that business sales are up—way up—for certain industries, including restaurants. And if you’re like many restaurant owners, you’ve been thinking about selling your business, too. It’s easy to see why. Record-setting sales (both in terms of speed and profit) in 2021 proved rest
Read More “Thinking of Selling Your Restaurant? What You Need to Know in 2022”
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 said, th
Read More “How Quickly Can I (or Should I) Sell My Business?”
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
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 veteran brokers,
Your business may be unique to you, but because it it part of a larger industry and has competitors, it falls under certain well-known categories. In order to stand out during a sale and get the best offer possible, there are 5 factors to consider. These factors will not only set your business apart, but they are also great guidelines to consider as you begin preparing to sell your business. ST
Read More “5 Factors that Make Your Business Stand Out When Trying to Sell”
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) can m
Read More “Pros and Cons of Selling Your Business without a Broker in Utah County”
Finding the right buyer for your business goes beyond getting the highest offer possible. As a seller in Utah County, you're looking for the most qualified buyer that best aligns with your values who will complete the transaction. 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
Read More “How to Find the Right Buyer When Selling Your Small Business”
Utah County (and all of Utah) continues to grow at a breakneck pace, and although COVID stubbornly won't completely go away, small business is back! We have seen a lot of small business owners ready to sell, and aspiring entrepreneurs ready to buy, so now is the time to take the big step. As always, when selling your business, you now have two options: Do-It-Yourself or work with a business broker
Read More “3 Questions You Should Ask Before Hiring a Business Broker”
Hiring a business broker may seem complicated and an unnecessary expense to someone 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 your chances of selling your business m
Read More “Five Reasons Business Brokers Improve Closing Rates”
Over the past year, many owners have been working hard to keep their businesses afloat. At times, having to reinvent or resize their company to stay competitive amidst the pandemic. Now, as things are turning around, you may be asking yourself, Should I sell my business? As valuations continue to go up, and buyers remain eager to spend their money, it’s prompting to be a big year for bus
Read More “How to Sell your Business in Utah County in 2021”
One year after the onset of the pandemic, aspiring entrepreneurs continue to flock to high performing businesses. This resulted in median sale prices to jump 30% compared to Q1 of 2020, according to BizBuySell's Insight Report, which tracks and analyzes U.S. business-for-sale transactions and sentiment of business owners, buyers, and brokers. Sold businesses report 15% year over year increase in
Read More “The 3 Key Takeaways from BizBuySell's 1Q2021 Insight Report”
Now that we are well into 2021, we can now acknowledge that last year was quite possibly the most challenging year for your company. 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 busines
Remember being 18 years old and full of equal parts curiosity and terror when you thought about your future? It was easy to get excited! Were you drawn in by Art History 101 your freshman year? Did you find a passion for guitars sparked by a gig at a music store? Or perhaps you began experimenting with culinary creations while living on your own for the first time. Oftentimes, these bi
Read More “Could following your passion be the perfect business move?”
The 3Q 2020 Insight Report from BizBuySell, which is the result of extensive surveys of business brokers on small business purchase and sales activity, as well as buyer and seller confidence levels, provides the best information on what is going on in the market. First, we have the good news! There continues to be a steady upward trend in small business sales since the pandemic hit back in
Read More “A Paradox of Opportunity & Uncertainty: The BizBuySell 3Q 2020 Report”
In addition to the BizBuySell Insights report highlighted in our prior blog, the International Business Brokers Association (IBBA) released the Q2 2020 Market Pulse report. Not surprisingly, it had similar conclusions as the economy is still uncertain, and it appears that things may not return to “normal” until at least 2Q 2021. This report takes a particularly close look at how CO
Read More “IBBA Market Pulse Report Calls Small Business Market "Shaken But Resilient"”
With nearly 3 full months of quarantine behind us, we are heading into uncharted territory as Utah cautiously opens its doors. The new normal is fluid, with updated information about the coronavirus coming all the time. What does regular business look like now? Will customers return? What if there’s a second-wave of COVID-19? As featured in a prior blog post, the pandemic has offered a uniqu
In such a singular moment in our global history, our thoughts continue to dwell on our fellow small business owners. As an entrepreneur, nimbleness and perseverance is in your DNA! We will be able to rise above this challenge, and we can anticipate a future beyond this pandemic, if we plan accordingly. As a prospective buyer, this could also be a good time to get your ducks in a row and be ready t
We’ve all been living with COVID-19 for weeks, and we’ve all had to make sacrifices and hard decisions. How are you holding up? First, we'd like to share some positive perspective with you. In this episode of The Deal Board podcast, our experts discuss the effects of COVID-19 on small business. This podcast includes plenty of opportunities you can plan to act on. Take a listen:&nb
We wanted to provide you with this information directly from the SBA's Utah District Office. In the meantime, if you have any questions, we can help! Email us by clicking HERE and we will do what we can to assist you through this process. Are SBA's resources available during the COVID-19 crisis? Answer: “The health and safety of our employees is our number one priority. SBA has deplo
Read More “FAQs REGARDING SBA ECONOMIC INJURY DISASTER LOANS”
2020 is fresh, and hopefully so are your eyes for the future. Whether you’re a resolution setter or you’re still trying to find an intention for the year, planning is a must-do for success in your business. If you’re a small business owner, maybe your resolutions include selling your business and starting an all new journey. No matter where you are on the path of small business
As we mentioned in the last blog post, Baby Boomers are retiring and they're putting their businesses up for sale, and the trend will be there for the next 5 years--which also means that buyers are looking for opportunities in this hot market. In addition, there are many other reasons why a business owner may sell. Please see our prior post Part 1, which will outline the first 5 steps. Below
Read More “The 10 Steps to Successfully Preparing Your Business for Sale - PART 2”
Baby Boomers are retiring and they're putting their businesses up for sale. While this trend will eventually slow, we expect this to create an active market for small businesses for quite some time--likely the next 5 years. In addition, many other boomers who have had corporate careers are looking to purchase a business as the last step prior to retirement, so the buyer’s market is strong as
Read More “The 10 Steps to Successfully Preparing Your Business for Sale - PART 1”
International Business Brokers Association (IBBA)/Pepperdine University Study Show Continued Strength in the Market for Small Business Sales - 2Q2018 The results of the quarterly survey and study are in, and the strong consensus is that the market for the sale of Main Street & Lower Middle Market businesses continued to be extremely strong, especially for businesses valued at up to $2 million. Bu
When someone is looking to sell their business, or become a small business owner by purchasing a business, they often don’t know where or how to start the process. An effective business broker can add significant value to both parties in the transaction, but only if the broker is effective. There are four key attributes that define a great business broker, and all are equally importa
Read More “The Four Key Attributes of a Great Business Broker”
