Written by Eric Iffland, owner of First Choice Business Brokers Toledo. No fluff. No filler. The same advice a business owner would get over a cup of coffee.
A valuation tells you the price. An Exit Readiness Assessment tells you what to fix before you list.
Thirty years of building businesses changes how you evaluate one. Most brokers do not have that.
Real estate brokers list houses. Business brokers advise on a multi-million-dollar negotiation. Different jobs.
The best time to sell is rarely when you feel ready. It is 18 to 24 months before that.
The list price and the closing price are rarely the same. Here is what determines the gap.
The day your team learns you are selling is the day your best people start looking. Protect that.
Due diligence is where deals go to die. Here is what buyers examine, and how to be ready.
Owners who say it's a bad time to sell are usually describing their business, not the market.
Buying skips the hardest years. But first-time buyers underestimate evaluation.
Both reveal a gap between the quality of the service and the quality of the online presence.