Archives for December 2017

Around the Web: A Month in Summary

A recent article posted on BizJournals.com entitled “Top 5 rules on preparing your company for sale” explains how the best time to begin preparing your business for sale is right now. The article highlights these main rules to follow: Start auditing your financial statements now as these will be required by the purchaser. Keep appropriate, complete corporate books and records so everything is ready to be presented to a buyer when the time comes. Obtain a professional valuation of your company so you can use this as a roadmap for growing your company and ultimately maximizing the exit price. Use the valuation of your company to determine what assets are superfluous and will not be valued. This can also help you make future decisions with your business strategy. Start the process now for finding a second in command who could easily replace the founder of the company. This will be very valuable to the future buyer after the sale is made. Starting to prepare your business for sale now will … [Read more...]

Peter Picciano recognized with prestigious awards during the IBBA annual conference

Peter Picciano of Premier Business Brokers is the recipient of the Outstanding Producer Award and Deal Maker Award given out by the International Business Brokers Association (IBBA) during its annual conference on May 6, 2017. The Outstanding Producer Award was awarded to applicants who closed one or more business deals amounting to at least $1 million in total purchase price during the 2016 calendar year. The Deal Maker Award was awarded to applicants who sold at least 10 qualified businesses in the 2016 calendar year. “Peter is (One Of The Top Sales Producing Business Brokers In The USA), said Lou Vescio, IBBA Board Chair. “As the only international association for business brokers, it’s important for the IBBA to recognize individuals like Peter who are worldwide leaders in this industry and who display the high standards of skill and excellence that the IBBA promotes.” The IBBA is the world’s premier organization operating exclusively for professionals and firms engaged in … [Read more...]

When Two Million Dollars is Just Not Enough

Not everyone wants to sell when they feel as though they have to sell. Life changes, such as divorce or illness, can trigger the sale of a business. Everything from declining business revenue to partnership problems and more can send business owners scrambling for the exit sign. However, selling isn't always an option, especially for small businesses. In this article, we will take a closer look at just such a situation. The business under consideration is a successful distribution business, which is also a classic example of a value-enhanced business. The two owners each draw several hundred thousand from the business each year to go along with a range of other benefits. If hypothetically, the business was to sell for $2 million dollars, each of the owners would receive approximately $1 million. Of course, this sounds like a sizable amount. So, what is the problem? When one stops to factor in such variables as taxes, closing expenses and debt, that $1 million-dollar number has … [Read more...]