BizBuySell reports sales of businesses are at an all time high

Biz Buy Sell reported that sales of small businesses are at an all time high.  They reported that businesses for sale in Towson – Baltimore, Maryland metro area had an asking price that was a 3.1 multiple of cash flow.  In the Philadelphia, Pennsylvania area small business asking prices tended to be about 3 times cash flow also.  New Jersey’s small business for sale asking price multipliers are about the same.  Biz Buy Sell is used by business brokers to advertise their for sale small business listings.   The report is based on data compiled by BizBuySell through the 2nd quarter of 2015.  Additionally it was reported that there continue to be increases in new listings and in the sales prices of businesses.

Click to read article:  Sales of Business’s are at an all time high.

Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver the highest price in the smoothest sale transaction possible. Harvest provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 443.334.8000 to discuss selling your business, ordering a business valuation or buying a business.

Profitable Steel Distributor for sale by Maryland Business Broker

Maryland  business brokers Harvest Business Advisors located in the Baltimore area, has a highly profitable Mid-Atlantic Metal Distributor for sale.  This well run, well equipped business has revenues over $2,400,000 and cash flow of over $360,000.  They have over 700 customers and many years of successful service.  This is a perfect business for an expanding company already in a steel related business or the first time business owner with upper middle management background. Email Greg Caruso gcaruso@harvestbusiness.com

Gregory Caruso
Harvest Business Advisors
609-664-7955  

Prospecting Buyers for the Sale of Your Business

In order to sell your business you must generate prospects.  Prospects are people or companies who are ready, willing, and able to buy your business.  The first step is to draw in contacts and get them to approach you by phone or email. To accomplish that, price your business properly (assuming you have a smaller business – see our posts on pricing a business for sale) and let these prospects know about the business for sale without breaching the required confidentiality of the owner.

Considering Selling Your Business? Please click here for a downloadable e-book, “ 10 Ways to Increase the Value of Your Business“.

Fishing Story Number 2

The first time I went out on a charter fishing cruise with a professional captain and first mate I was amazed.  Of course, I am old enough that this was before radar type ‘fish finders,’ but they  not only seemed to know where the fish were but they had a strategy for catching the fish.  Multiple fishing poles were carefully baited and dropped into the water.  Different weights were placed on different lines to put them at different water levels.   All this work to find fish that we could not see.

Marketing your business is very similar.  This critical part of the process involves doing the things your experience suggests will work and, if necessary, trying different variations until you find the “fish.”  Patience is required.  And, once you hook a fish, it is very important not to lose him as many businesses have only a very few good Buyers.  Of course the good news is that just like dating, or selling a house, it only takes one.

 

Gregory R. Caruso, JD, CPA, CVA
Harvest Business Advisors
609-664-7955
gcaruso@harvestbusiness.com
www.harvestbusiness.com

Business brokers credit growth of business sales to active business buyers

Biz Buy Sell, www.bizbuysell.com  just released a research report based on a nationwide survey of business brokers.  The report polls business brokers views on the current business sale market for main street businesses.  The findings are consistent with what we have been experiencing as business brokers in Virginia, Maryland and Pennsylvania.  The report on the current outlook for selling businesses found; 1.   Buyers are back which is fueling sales.  2.  Seller financing is essential to getting deals done.    Read the report for yourself.

Considering Selling Your Business? Please click here for a downloadable e-book, “ 10 Ways to Increase the Value of Your Business“.

Gregory Caruso
Harvest Business Advisors
Business Brokerage, Business Valuations, Succession Planning
Maryland, Virginia, Pennsylvania, Southern New Jersey
gcaruso@harvestbusiness.com
609-664-7955

Start Retirement Planning Today

Most small business owners don’t make nearly enough money from the sale of their business to survive the thirty to forty years they may live after the sale.  You must start saving early and consistently.  Consider a tax assisted retirement savings program.  Another strategy is to buy the real estate where your business is located. Find a financial planner you trust and start today.  There is nothing worse than being physically or mentally exhausted and having to leave the business but resisting it because you do not have the downstream financial resources.

Many owners we work with intend to augment their savings by seeking employment in the future.  They just want to get the weight of owning a business off their shoulders.  If the income expectations and time requirements are realistic this is a good plan.  Limited future employment is becoming a normal component of many owners’ plans.

If you are not in a position to properly make these types of plans yourself meet with a competent financial planner early.  Find a way to save.  Make it a priority because your future depends on it.

Gregory R Caruso, JD, CPA, CVA
Harvest Business Advisors
Business Brokerage, Business Valuation, Transaction Planning
609-664-7955
www.harvestbusiness.com
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