In business terms, that thought can be an anomaly because to begin with, in recent times, selling a business however small is not an easy thing. With new problems both man-made and natural cropping up daily, there is always the fear of whether the public will want to patronize your goods or services since everyone seems to be cutting corners.
And once again, remember, we’re looking at a business, the profits that a buyer would make. The seller may be saddled with debt that the buyer wouldn’t be. So we could recast the financials; that’s what a Starting a business in Thailand online is going to do.
If you were teaching a financial advisor how to get referrals and get more Business brokers online, you first help them to think about possible categories where referrals might come from. As they’re looking at various categories and you get clear about those, then you can dig into names. As an example, there’s probably more than one insurance agent. They probably belong to more than one association. Work with them to write down the names of people representing the categories you wrote on the spokes.
The few times I was able to get referrals, the person who referred me to their friends did so because they had something in common those people. So, instead of “Who do you know,” I began to ask these kinds of questions: “Where did you grow up? What kinds of organizations do you belong to? What are your favorite things to do for fun?” I found that if I asked questions in four categories, it always led to common ground. Those categories are hobbies, interests, lifestyle and values (family and community).
Gross sales have little to do with the value, therefore, if your goal for 2008 is to grow the biz by 40%, then you could still decrease the value of the business, or even reduce it’s profits. Most companies who make the Inc. 500 fastest growing companies lose money! In the two years my companies would have made the Inc 500 list, we lost money.
Are there mandatory meetings and training for the owner or his staff. Each major franchise has different elements like this in the contract they make with the buyer. These are the details that should be looked into before purchase. How do you do this and where are good places to seek the answers?
Third, before you apply for a loan, get a copy of your credit report to make sure it’s accurate and there are no errors on it. There are a few reasons for this. Credit reports are notorious for errors. Imagine your frustration to have a great credit score, spend weeks building and executing your business plan, building relationships with suppliers, signing a lease on the perfect location for your person and a major vendor asks for a copy of your credit report to complete their paperwork and they find a bad comment on your credit report and they decline your request! All because there was an error on your credit report that should not have been there in the first place. Bottom line; let’s get this taken care of now so you have time to get things in order.
And you’re going to want to put a team together, and that includes an intermediary, a transaction attorney and your accountant. You want to get your family on board, and you want to plan this out.