There is no doubt about it, it can be exciting to buy a new business. However, in the process, it is very important that you don’t become unrealistic about future growth. Keep in mind that in the vast majority of cases, if a business is poised to quickly grow substantially, the seller would be far less interested in selling. Richard Parker’s recent article for Forbes entitled “Don’t Be Delusional About Growth When Buying a Business” seeks to instill a smart degree of caution into prospective buyers. Parker notes that when evaluating a business and talking to the owner, many buyers come away with a sense that enormous growth is just “sitting there” waiting to be seized. In particular, Parker cautions those buyers who are buying into an industry that they know nothing about; those individuals should be very careful. When buying into an industry where one has no familiarity, there can be a range of problems. The opportunities that you see may not have been tapped into by the … [Read more...]
Effectively Utilizing Confidentiality Agreements
Every year countless great deals, deals that would have otherwise gone through, are undone due to a failure to properly utilize and follow confidentiality agreements. A failure to adhere to this essential contract can lead to a myriad of problems. These issues range from employees discovering that a business is going to be sold and quitting to key customers learning of the potential sale and taking their business elsewhere. Needless to say, issues such as these can stand in the way of a sale successfully going through. Maintaining confidentiality throughout the sales process is of paramount importance. Utilizing a confidentiality agreement, often referred to as a non-disclosure agreement, is a common practice and one that you should fully embrace. There are many and diverse benefits to working with a business broker; one of those benefits is that business brokers know how to properly use confidentiality agreements and what should be contained within them. By using a … [Read more...]
The Variety of Variables Involved in Selling Your Business
Selling a business is more than a big decision, as it is also quite complex. Finding the right buyer for a business is at the heart of the matter. In the recent Forbes article, “Ready to Sell Your Business? Follow These 3 Tips to Find the Best Buyer,” author Serenity Gibbons outlines that selling a business is a multifaceted process with a lot of moving parts. A central variable for those looking to sell a business is to have a coherent and well thought out exit strategy in place. She points out that at the top of your to-do list should be selling your business the right way, and that means having a great exit strategy in place. In fact, many experts feel that you should have an exit strategy in place even when you first open your business. Another key variable to keep in mind is that, according to Gibbons, only an estimated 20% to 30% of businesses on the market actually find buyers. This important fact means that business owners, who usually have a large percentage of their … [Read more...]
How Employees Factor into the Success of Your Business
Quality employees are essential for the long-term success and growth of any business. Many entrepreneurs learn this simple fact far too late. Regardless of what kind of business you own, a handful of key employees can either make or break you. Sadly, businesses have been destroyed by employees that don’t care, or even worse, are actually working to undermine the business that employs them. In short, the more you evaluate your employees, the better off you and your business will be. Forbes’ article “Identifying Key Employees When Buying a Business”, from Richard Parker does a fine job in encouraging entrepreneurs to think more about how their employees impact their businesses and the importance of factoring in employees when considering the purchase of a business. As Parker states, “One of the most important components when evaluating a business for sale is investigating its employees.” This statement does not only apply to buyers. Of course, with this fact in mind, sellers … [Read more...]
The Importance of Understanding Leases
Leases should never be overlooked when it comes to buying or selling a business. After all, where your business is located and how long you can stay at that location plays a key role in the overall health of your business. It is easy to get lost with “larger” issues when buying or selling a business. But in terms of stability, few factors rank as high as that of a lease. Let’s explore some of the key facts you’ll want to keep in mind where leases are concerned. The Different Kinds of Leases In general, there are three different kinds of leases: sub-lease, new lease and the assignment of the lease. These leases clearly differ from one another, and each will impact a business in different ways. A sub-lease is a lease within a lease. If you have a sub-lease then another party holds the original lease. It is very important to remember that in this situation the seller is the landlord. In general, sub-leasing will require that permission is granted by the original landlord. With a … [Read more...]
Cape Cod Historic Full Service Restaurant & Bar
Barnstable, MA - A household name for decades! This restaurant & tavern business thrives in one of the most scenic areas of Cape Cod. Boasting an outdoor patio for 40+ patrons and seating inside for over 100. The old world charm and classic New England fare make this a local and tourist favorite. Three year average revenue north of $1.1M ! Tremendous growth potential. Seller will assist in orientation and training in conjunction with sale. Strong staff in place. Seller financing negotiable. Asking $175,000 email info@tbxllc.com for non disclosure agreement (NDA) and details … [Read more...]
Retail Boat Distribution Company
Massachusetts - This company specializes in the design and distribution of two specific "downeast" style boats. With two unique models to their brand this company is primed for growth. Established as a "hobby business" ownership seeks to divest to someone who can continue to grow and improve the brand. Through marketing and dedicated business development the potential is unlimited. Two proprietary boat molds are included with the sale. Boats are built over seas and seller will assist in transitioning all outside building relationships to a new owner. Boat building experience is NOT required. Seller financing available. Asking $99,000 + INVENTORY email Adam Bauer at abauer@tbxllc.com … [Read more...]
Two Well Appointed Mashpee Commercial Condos “Madaket Place”
766 Falmouth Rd. Unit #4 Mashpee, MA - Class A 3,000 SF (incl basement GLA) commercial condo with meticulous build-out featuring custom word working throughout the unit. Raised panel cherry wanscoting throughout the unit, multiple cherry built-in book cases, custom trim, custom desks. Floor plan is ideal for business with multiple executives, ie: CPA, Law Office, financial services etc... 2015 Taxes: $2,954 Asking $125 PSF/ $350,000 This unit is also available to lease for $15 PSF NNN 766 Falmouth Rd. Unit #3 Mashpee, MA Completely remodeled new paint and new carpets ready for your business! Featuring lower level additional square footage for storage (not included in the 2,075 SF ), 2 private upstairs offices with conference room and 3 private offices on the first floor with open reception area. Ideal for many types of businesses. Asking $325,000 Executive office suites also available for lease starting at just $350 per month! … [Read more...]
Oceanfront Restaurant Opportunity
Plymouth, MA - Harbourtown Plymouth development. Two second floor restaurant spaces available in this proposed development. Approximately 6,000 SF being offers with rooftop decks and patios. Unbelievable opportunity to join the growing Plymouth waterfront! More info coming soon.... Email Adam Bauer at abauer@tbxllc.com for more information … [Read more...]
Hyannis Full Service Traditional Italian Restaurant
Hyannis, MA - FOR LEASE - 3,600 Sq. Ft. space with multiple dining areas and glassed in atrium. 146 Seats. 20'+ bar with 15 barstools. … [Read more...]