Lower middle market is a step up from small business on the value ladder and once there, you are more likely to get offers from people interested in buying your company. Middle market businesses appeal to private equity buyers. Why would a good middle market business...
What about owning a business that only operates at certain times of the year—say a tour boat line in Canada? I saw an article recently about owning a seasonal franchise and it prompted me to put together my own list of pros and cons to...
Negotiating the purchase or sale of a business requires give and take to find solutions that meet and protect the needs of both buyer and seller. Let's say you're the seller. You want to maximize the value of your business while minimizing risk and taxes. When...
Grousing about lawyers and their fees goes way back. Even Thomas Jefferson, a lawyer himself, said that “It is the trade of lawyers to question everything, yield nothing, and talk by the hour." I speak to a lawyer every day. And it doesn’t cost me anything. He...
A crisp new year… have the country’s banks opened their wallets any wider for the purchase of small businesses in Canada? Don’t bank on it. Instead, prospective buyers depend on the seller taking back a percentage—usually some 20 to 50 per cent—of the agreed-upon purchase...
Turn on your television any day of any week and you are bound to find at least one “rescue” show where an expert whips a struggling individual, a family or small business into physical, emotional or financial shape. Oh, and let’s not forget the tough...
Note: We updated this article in August 2014 with new data, and while the points in the Sunbelt Texas article are still valid, I think it’s fair to say that no one still associates Tiger Woods with positive celebrity branding! If you’re anywhere near my age,...
Do you own a business? Is everything you need to operate your business “in your head”? Businesses that rely on their owners for success have less value. Yet that’s how many small businesses still operate today. Working ON the business, not IN the business can be hard,...
Across North America, baby boomers have been known as both money makers and spenders. And more of them are now “making or spending” by selling or buying a business. The baby boomer generation covers quite an age range. Born between 1946 and 1064, the oldest are...
There are generally four ways to become a business owner: Start your own business; Take over a family-owned business; Buy a franchise; and Buy an existing operating business. Each option has its own level of risk. Start your own business. As 65% of start-ups fail, this...