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Actual for You - How to Sell Your Own Business
In franchising law we have what we call a 10-day rule, which in laymen’s terms goes something like this; The prospective franchise buyer must receive the (UFOC) Uniform Franchise Offering Circular for ten business days before any monetary compensation is given to or collected by the Franchisor. Sounds like a good idea right? Well, it is very problematic for willing buyers and sellers to operate under such constraints of trade. One of the proponent reasons for this law is that the UFOCs are generally about 200 pages long and that is a lot to read and the government re
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know
I once worked for a boss who was never wrong, never made a mistake or a bad decision. All you had to do was ask him. To his staff he was Teflon-man. Nothing stuck to him and everything came sliding toward us.Accountability was not a concept he practiced unless things turned out well and then, he claimed the credit. But if they didn't, he immediately embarked on endeavors to identify someone responsible. Being called to his office typically meant he was looking for information and trying to decide whom to blame.Justify. Justify. Justify. Like a battle cr
PURPOSE: To provide a quick guide to business owners that desire to sell their business but do not want a significant portion of the transaction value to go to a business broker or M&A intermediary.
1. Have an idea what your company is worth. The most common rule of thumb is that buyers usually pay a multiple of EBITDA. The normal range is a selling price between 3 and 5 times EBITDA. There are exceptions to this rule, but if you have a main street business, you generally fall in that range. If you are a member of an industry association, they may be helpful to you in identifying industry multiples or resources that can help you determine a selling price range.
2. Create a blind profile. It is a brief summary of your company and is designed to communicate the key points about your acquisition opportunity without giving away your company's identity.
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know
The Arizona State Agency that oversees the collection and reporting of State income taxes deducted from payroll checks is:Department of Revenue 1600 W. Monroe St. P.O. Box 29009 Phoenix, AZ 85038-9009 602-255-2060 or 800-843-7196 www.revenue.state.az.us/#WithholdingTaxArizona requires that you use Arizona form “A-4, Employee’s Arizona Withholding Percentage Election” instead of a Federal W-4 Form for Arizona State Income Tax Withholding.Not all states allow salary reductions made under Section 125 cafeteria plans
1. Have an idea what your company is worth. The most common rule of thumb is that buyers usually pay a multiple of EBITDA. The normal range is a selling price between 3 and 5 times EBITDA. There are exceptions to this rule, but if you have a main street business, you generally fall in that range. If you are a member of an industry association, they may be helpful to you in identifying industry multiples or resources that can help you determine a selling price range.
2. Create a blind profile. It is a brief summary of your company and is designed to communicate the key points about your acquisition opportunity without giving away your company's identity.
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know
Most of us think of business cards as just a written reminder of someone’s contact details. They can become more than this with a little imagination. Think of these cards as being a useful means of advertising your business. They are relatively inexpensive to print and light to carry around with you.Think about what you can print on the backs of the cards which are normally left blank. This space can be used to advertise your business whatever it is. Think about starting off with a small map of the area where your premises are situated printed on the back
2. Create a blind profile. It is a brief summary of your company and is designed to communicate the key points about your acquisition opportunity without giving away your company's identity.
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know
Without strong direction and motivation, any hotel, is doomed for failure, an operation is successful only when a good leader surrounds themselves with other good leaders, and good leaders surround them selves with good staff.Staff and managers may have personal problems and deliver inferior results due to lack of training, unrealistic expectations, or failed attempts to innovate. In some cases the proper response to these issues can turn a hopeless employee into outstanding employee. “Fir’em” is not always the right answer.Correct poor performers. that can help you determine a selling price range.
2. Create a blind profile. It is a brief summary of your company and is designed to communicate the key points about your acquisition opportunity without giving away your company's identity.
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know
It can be difficult to choose which phone system to buy for one's business, as the world of telephone communication has improved so much in recent years. Making a choice is not easy because there are so many different models and types of phone systems available.Reading reviews of phone systems that are available for sale is probably the best way of choosing a phone system for your business. These reviews give details about the different phone systems available. Some business phone systems for example, may include the compatibility of the phone system with stan
3. Have a Confidentiality Agreement or a Non Disclosure Agreement executed if a potential buyer shows interest in your company.
4. Create a database of Target Acquisition Prospects. You may already know the most likely buyers, but those most likely buyers may also do damage to your business if they determine you are for sale. Your industry or trade associations and trade publications will be helpful. If you want to expand to those potential buyers to a greater universe, I recommend creating a database using one of the database service. You can do a search by location, company size, SIC Code and other criteria to arrive at your selection criteria. There is a charge for this service or a charge for each company you select, and you have to subscribe and do the search yourself.
5. I personally like to call the prospects because sending a mailing is very ineffective these days. Once I get the CEO on the phone, I try to get their interest with a 30 second elevator speech. If he/she is interested, I ask for the email address and email a copy of the Blind Profile and the Confidentiality Agreement and request its e
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