Selling a business involves more than simply handing over the keys and depositing a check from your buyer. To reduce or eliminate financial surprises when selling your business, you should ask your business broker about the cost to sell a business and what expenses you should realistically expect during the sales process. The largest expense in the sale of your … Read More
Gregg Kunz represents buyers and sellers of businesses. Call (303) 474-5582 to schedule a free consultation with Gregg. Interested in buying a business? Have you ever considered purchasing a franchise? In many respects, franchises are the backbone of our economy; there are more than 750,000 franchises in the US today. Buying a franchise can be a very good choice for … Read More
Learn more about what you can do to get the highest price and best terms for your business. Call (303) 474-5582 to schedule a free consultation with a business broker. When selling your business, engaging an outstanding business broker from the start is one of the most important things you’ll do. This is your life’s work, and you don’t want … Read More
Let’s talk about what you can do ahead of time to sell your business for the highest price! Call (303) 474-5582 to schedule a free consult with a business broker. Selling a business can be a daunting yet exciting time. But, what most business owners don’t realize is that the sales process starts long before they ever decide to actually … Read More
Times are good right now, but as anyone who weathered the Great Recession storm knows, good times don’t last forever. We are currently in the 11th year of an expanding economy – and it is widely considered unprecedented for a robust business cycle such as this to have continued for this length of time. The general consensus among business brokers and some of the most well-respected economists is that we are going to see increased recessionary pressure at the end of 2020 and into 2021 and that impact of the downturn will be felt for several years to come.
So much more than a simple piece of paper, Non-Disclosure Agreements are arguably the single most important document as you consider moving forward with the sale of your business. In fact, the business broker you engage likely won’t even entertain a substantive conversation with a prospective buyer without first having a signed NDA from the interested party.
You have built a solid company and are chugging along pretty nicely with no intentions of selling your business any time soon. But wait, will you feel the same way a few years out when you are ready to move on to something new or are approaching retirement age? Or worse, could you be faced with an illness or some other event which might force you to sell? A smart business strategy means having an exit plan in place long before you ever intend to sell.
Every business broker knows that the art of negotiation is a deep and complex process that, if done well, finds both parties walking away from the table satisfied (and often very happy). But if executed poorly, the negotiation process can leave participants feeling like there were defined winners and losers – which is never a good thing.
Gregg Kunz of Rocky Mountain Business Advisors, Inc. is the recipient of the Chairman’s Circle Award given out by the International Business Brokers Association (IBBA) during its annual conference in Orlando, Fla. on May 11. The Chairman’s Circle Award recognizes those who closed one or more business deals amounting to $3 million and above in total purchase price during the 2018 calendar year.