Britton Law, P.A.
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Buying & Selling Businesses Archives

Small business owners likely to overlook exit strategy

North Carolina enterpreneurs too often overlook the most valuable investment in their portfolios. Most people who own small- to mid-sized businesses work very hard for years to begin, develop and maintain their enterprises, yet they may spend little time planning and strategizing to ensure that the direction of the business aligns with their own personal savings and retirement goals.

Investing in existing online businesses might be smart

North Carolina residents who are thinking about starting new online businesses might want to consider investing in existing ones. When people purchase existing businesses, they have several advantages. Existing online businesses are already profitable, meaning that people who purchase them do not have to spend the time building up the business from the ground. They also have assets such as customer lists and other things that can help the new business owners to get off the ground and running quickly.

What to consider when selling a business

There are many mistakes that could cost a North Carolina business owner money when it comes to sell the company. First, an owner may not understand what the company is worth before putting it on the market. This is generally considered to be a key step in an exit strategy. However, 65 percent of business owners haven't put a value on their company while 85 percent don't have an exit strategy at all.

How to sell a family business

Some North Carolina baby boomers who own a business might be thinking of selling it and retiring. In many cases, these may be small businesses run on a small budget. As a result, the owners may have worked with advisers and accountants but not with attorneys or other professionals who specialize in mergers and acquisitions.

Business owners should make an exit plan in advance

Entrepreneurs looking to open a new business in North Carolina may not be eager to think about a dissolution or plans to exit the venture. However, exiting a business doesn't need to be a sign of failure. It can be a testament to success through a profitable sale or well-deserved retirement after years of activity.

The art of investing in professional sports

As North Carolina continues to grow into a lucrative professional sports market, prospective investors are starting to inquire about opportunities in team ownership. A few years ago, former Microsoft CEO Steve Ballmer made headlines as he plunked down $2 billion to purchase the Los Angeles Clippers NBA franchise. Even though the sale was carried out under duress due to a scandal involving the former owner of the team, the exorbitant price tag prompted many analysts to question the value of the franchise.

More baby boomer businesses may be available

More businesses created by baby boomers in North Carolina might be for sale in the years ahead. Younger generations who are interested in buying companies may be able to take advantage of these opportunities. However, the volume of businesses on the market does not mean that all of them are good. Potential buyers should have a set of criteria in mind and do their research.

Vitality measures to consider when buying or selling businesses

In many cases, North Carolina entrepreneurs make the decision to purchase a business without looking at all the necessary data. New buyers and sellers may want to follow the path of professional investors, which involves focusing on what are known as key performance indicators.

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