Selling a business is rarely as straightforward or fast as business owners would like. Unless you’ve sold a business before, there will be unforeseen obstacles. Even if you’ve sold a business before, you will likely run into hurdles along the way. The fact that every business is different, and this impacts the variables associated with the sale of a given business. Market conditions change daily, and that means knowing the current “lay of the land” is of critical importance. All of this underscores the value of working with a business broker or M&A advisor. A lack of important financial data can be a major problem for business owners looking to exit their business. You can expect any serious buyer to jump in and take a detailed look at your business. Every detail of your EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, will be examined. EBITDA will play a role in calculating the value of your business. Determining the value of your business via EBITDA uses … [Read more...]
Archives for October 2024
Unlocking Your Potential Through Business Ownership
As a business owner, you gain freedom and the potential to earn more than you might otherwise earn. If you are ready to tackle the hard work involved in business ownership, you may be prepared to take the next step. Two main advantages to being a business owner include forging ahead with more freedom and also boosting your income. However, you must be prepared to take some risks. Grow Your Income Owning your own business gives you the opportunity to grow your income. While owning a business can dramatically boost your income, this typically comes with both increased risk and more work. Generally, the longer a business owner maintains their business, the greater the potential for profits. Business owners who have operated their businesses for ten years or more generally earn over $100,000 per year. It’s important to remember that it may take years before you achieve the income level you desire. Building a successful business takes time, and increasing the profits of an existing … [Read more...]