Prepare Your Chiropractic Business for Sale Most owners of chiropractic businesses spend many years building up their patient base and improving the efficiencies of their practice without giving much thought to selling. Whether the practice is a single location or multiple locations employing other chiropractors, preparing for the sale is essential to getting a premium … Read more
Disclose All Material Facts Unlike the sale of a home or piece of real estate, the sale of a business involves material facts that change over time and are impossible to discover without the seller’s full cooperation. The seller or business owner is bound to disclose all material facts which affects the valuation of their … Read more
Selling Graphic Design Businesses Graphic design businesses creatively produce websites, marketing and promotional materials, logos, and product packaging for customers seeking to promote their branded identity. Often times, the owner functions as the lead product designer of the company, particularly in smaller boutique agencies. When it comes time to sell a graphic design business, the … Read more
Founder-Owned Businesses In Demand A founder-owned business is owned and managed by the individual or team of individuals who originally formed the company. Many business buyers – particularly private equity groups – desire to purchase founder-owned businesses because they are often stable and successful enterprises with a long-term track record of success. Founders of businesses … Read more
Retaining Customer Base Critical to Valuation The retention of the customer base by the buyer after purchasing a business is perhaps the most important component of many business deals. Since the valuation of virtually all businesses is predicated upon its future cash flow, the buyer must be assured that the future cash flow – and … Read more
Strategic Sale is Roadmap to Success Strategically selling a business involves formulating a plan – often years prior to the sale- to find the right buyer and maximize the purchase price. The strategic plan or roadmap to a successful business sale should be specifically tailored to the individual business and its financial profile. A confidential … Read more
Customer Deposits: Unearned Revenue When selling a business with a significant amount of customers who pre-pay a deposit prior to receiving goods or services, it is imperative to accurately define and fairly allocate the customer deposits at closing. Customer deposits are considered a current liability or unearned revenue (held in cash on the balance sheet), … Read more
Choosing the Right Business Broker Choosing the right business broker may seem like a daunting task for many business owners unfamiliar with the business sales process. The interview or meeting between the business owner and prospective business broker should alleviate any concerns about the broker’s credibility, experience, and competency. During the interview process, the business … Read more
Specialty Retailing Specialty retailing stores offer customers a specialized and focused line of merchandise as opposed to traditional retailing stores which offer a generalized line of merchandise in multiple product categories. Examples of specialty retailers include flower shops, furniture stores, equestrian feed stores, and sports equipment stores. The narrow focus of a specialized niche differs … Read more
What is A Circle of Competence? Famed investors Warren Buffett and Charlie Munger long ago popularized the mental model of staying within one’s circle of competence as an investment strategy. Staying within one’s circle of competence refers to investing only within areas where one has earned knowledge, skills, and expertise while avoiding investing in areas … Read more