Britton Law, P.A.
It’s business and it’s personal call: 910-401-3356 ~or~ 888-811-9738 Representing the injured and local businesses since 1992

Buying & Selling Businesses Archives

Business brokers bring buyers and sellers together

North Carolina business owners have a great deal of loyalty to their enterprises. Those who establish and operate businesses in the state devote much of their time to the endeavors, and when it comes time to sell, they want to get fair value for their efforts. Selling a small business, though, is not always easy. In many cases a business broker can help facilitate the sale by bringing buyers and sellers together. There are several things a business owner should consider before hiring a business broker.

Ways to finance the purchase of a business

Anyone looking to purchase a business in North Carolina will naturally have concerns about financing. On top of the upfront capital costs, there may be requirements for real estate leasing or purchase, capital improvements and costs to keep on employees and maintain inventory. There are a few typical methods of financing the acquisition. The choice of these can rely as much as on the seller as the buyer.

Market research can be crucial for small businesses

Most major companies spend large amounts on market research and testing prior to launching new products or services, but entrepreneurs in North Carolina and around the country often devote little time and few resources to these efforts before opening their commercial ventures. Market research is basically due diligence for business ideas, and it can provide entrepreneurs with inspiration and insights as well as valuable data.

Due diligence advice when shopping for a business to buy

The acquisition of existing internet businesses gives North Carolina residents opportunities to run companies that are already generating revenue instead of starting up a new venture. Purchasing one, however, requires due diligence with the most important aspect being a careful examination of the financial records of the company.

Steps in selling a business

North Carolina business owners should plan ahead, possibly even years ahead, if they want to sell their companies. Furthermore, it may take up to a year to finalize a deal. They should ensure that everything related to intellectual property and financial records are in order. It is also necessary to get the business valued. An owner who is not happy with the valuation might look at ways to increase the value of the business. The owner should try to think like a buyer and remember that a buyer will be looking for something that will generate income.

How to get maximum value for a business

North Carolina entrepreneurs who are looking to sell their business should know that there are a few ways to do so. In a financial sale, a buyer is looking to take advantage of the future cash flow that the company will generate. As there is some risk that the revenue will go away, the buyer may not pay a premium for future cash flows alone.

Creating a business that will attract buyers

North Carolina entrepreneurs might be interested in building a company that they can eventually sell. However, this is not something that is done easily or quickly. A business that will be attractive to buyers and make money for the owner who sells it must be developed over time and with that goal in mind.

Using a ROBS to fund a business

North Carolina residents who are interested in buying a business may be unaware that they can use retirement funds to do so. The Rollover for Business Startups program allows a person to use money from a traditional retirement account, a 401(k) or an IRA to fund a business. However, there are disadvantages, and the risk of losing retirement savings is one of them.

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