Business advisement tips for selling a business

TIPS FOR SELLING A LOCAL BUSINESS

There are many complex steps in selling your business. Business Advisors can walk you through all the steps so that you can concentrate on running your business, while we concentrate on selling it. Let us minimize your stress by only bringing you potential buyers that are ready, willing, and able to purchase your business. You may not know how to sell a business, but our business brokers do.

HOW TO SELL A BUSINESS

Below is a rough outline of the process of selling a business:

  1. Exclusive Listing Agreement
  2. Documentation
  3. Valuation & Pricing
  4. Completion of Professional Marketing Package
  5. Locating The Right Buyers (current business owners, strategic buyers, etc.)
  6. Screening Potential Buyers
  7. Meeting with Qualified Buyers
  8. Letter of Intent
  9. Purchase Agreement
  10. Acceptance of Purchase Agreement
  11. Financing Assistance for Buyer
  12. Lease Assignments
  13. Closing

There are many intricacies involved in learning how to sell a business. Our  advisors are all former business owners themselves, and they know the ins and outs of purchasing, owning and selling businesses in all types of industries.

Business Brokers will review your financial condition and overall selling strategy, and then suggest how to make your business more desirable to buyers. These won’t be massive changes, but rather valuable management or strategy changes that will make the business more attractive to buyers within a relatively short period of time.

Before this happens, we will work with the business owner to understand the selling requirements, the range of valuation expectations, and the owner’s strategic goals.

Buying a business for sale is a big and exciting decision and can be an involved processes.  Just because a business for sale is listed on an outside website doesn’t ensure that the buyer is serious or that the price makes business sense.  The business you are searching for may not even be listed for sale.  This is where the Union Bay Group can help with Buyer Representation:  we can save you time, money and frustration.  Please contact us to see how we can help you.

Unless you’ve bought or sold a business in the past, you’ll find that buying a business can be a confusing and even trying experience. That’s why it is important for the prospective buyer to be knowledgeable about the process involved in buying a business. Thoroughly understanding the process will assist even a veteran of business transfers in working with our company.

business brokers

Getting Started: Questions And More Questions

Finding a business opportunity usually starts with researching local newspapers, placing telephone calls or visiting web sites like the one we host. The prospective Buyer may be a Corporation, Private Investment Group or a sophisticated Private Investor who has a very definite idea of the type of business wanted. On the other hand, many first time buyers are still in the formative or exploratory stage of their search. Frequently that Buyer’s first question is, “What kinds of businesses do you have?”.

Although there are many business listings, that question can only be answered properly when we have some idea of the prospective Buyer’s resources, skills and needs. For example, if we just listed A Motor Company and the prospective Buyer has several billion dollars in available funds and a background in automobile manufacturing, that would be a match made in heaven. But that perfect match would never have occurred unless we ascertained pertinent information regarding the prospective Buyer’s background, resources and objectives in advance.

The first and most important step is for the Business Broker to learn about the prospective Buyer. When we ask, “How many days per week are you comfortable working?”, “Are you planning to work alone or hire employees?” or “How much cash do you have for a down payment?”, along with other questions, we are gathering the information necessary to match the prospective Buyer to an appropriate business opportunity. We are also narrowing the search and saving the prospective Buyer time and aggravation.

selling and buying a business
Defining The Business Opportunity Search

After the search has been refined to businesses which fit the prospective Buyer’s criteria and requirements, we can communicate non confidential summaries of our business listings to the prospective Buyer in a number of ways. One way is for the prospective Buyer to view our web site and access the non-confidential summaries of our business listings by simply clicking on the “Businesses for Sale” button. This section will provide our business opportunities lists, a description of each business, financial details and the asking prices.

Focusing On The Right Business Opportunities

During the search, the prospective Buyer will receive multiple lists of interesting business opportunities. At this stage the business opportunity search moves to a new level involving the necessary disclosure of confidential information relevant to the purchase or sale of any business.

The new level is one of mutual trust and obligation between the prospective Buyer, our company and the Seller(s) of the business(es) of interest.

When buying a business, confidentiality protects the prospective Buyer from having anyone such as an employer, employees, or the competition discover the proposed acquisition prematurely. It also protects the Seller against unnecessary problems with customers, employees, vendors, competitors, landlords, bankers, creditors, etc.

As a result, all prospective Buyers are required to sign a Non-Disclosure and Confidentiality Agreement before receiving sensitive confidential information.
The Business Profile: The Facts

An important element in the purchase process is the business profile. This report on the business offered for sale is written to provide information that the prospective Buyer can review and evaluate in determining the suitability and desirability of the business opportunity. A typical Business Profile contains a detailed description of the business, a summary of financial data and additional business facts such as lease information, number of employees, inventories, pending and operative contracts with vendors and customers and other pertinent information. Following a thorough review of the Business Profile and consultations with the Business Broker, the prospective Buyer will have a solid understanding of the business, its operations and potential for continued future success.

Face to Face Meeting

After reviewing the Business Profile, financial data of the business and the business premises, if the prospective Buyer determines that the business presents a desirable opportunity, the prospective Buyer should be prepared to make a purchase offer. In some instances, it may be possible to arrange a face to face meeting between the prospective Buyer and the Seller. This may provide additional insights into the operation of the business not otherwise obvious from a review of written documentation.


Making An Offer

After meeting the business owner and touring the business, the next step is to present an offer of purchase for the business. Making the offer is not, however, the final step. In fact, it should be viewed as the first of several steps, each of which bring the Buyer and Seller closer to completing the transaction.

Since most sales involve privately held businesses, the Buyer is obligated to make an offer before actually reviewing the business’ internal financial records. The Buyer should understand that its offer is always contingent upon the Seller demonstrating the accuracy of its representations to the prospective Buyer’s satisfaction. It is the prospective Buyer’s duty and obligation to verify the accuracy of the Seller’s representations by retaining attorneys, accountants, business appraisers or other professionals. Any agreement between the prospective Buyer and Seller is “non-binding” until the prospective Buyer has exercised due diligence in verifying the accuracy of Seller’s books and records and all contingencies have been removed.

The Offer: Terms, Conditions & Contingencies

An Offer To Purchase will consist of the following:

  • Terms of the offer including price, down payment and financing (interest rate, loan period, etc.).
  • Conditions including covenants not to compete, consulting agreements, training agreements, accounting and apportionment of work-in-progress, and assumption of liability.
  • Contingencies such as approval of books and records, equipment, inventory, assignment of leases or loans and any other items incorporated into the terms of the agreement.
  • The Financial statement of the prospective Buyer.
  • The Credit Report of the prospective Buyer (paid for by the prospective Buyer).
  • “Earnest Money” Deposit Check for ten(10%) percent of the offered price.

Due Diligence

working with a business brokerThe prospective Buyer and its business brokers, attorneys, accountants, business appraisers and other professionals will have a specified period of time to complete a thorough review of the Seller’s books and records, inspect the business premises and take other appropriate steps to verify the Seller’s representations and remove all contingencies (typically 5-10 days). The prospective Buyer and his/her advisors must utilize due diligence in completing their review of Seller’s business in a timely manner. When the due diligence process is completed and all contingencies are removed, the contract becomes binding. Should the business fail to pass due diligence review, the prospective Buyer may withdraw, modify or amend the Purchase Offer. The due diligence procedure is costly and time-consuming. It is only initiated after the respective Buyer and Seller have reached an agreement on price and terms.


Financing

The majority of business purchase transactions require some form of financing. We work with our Buyers to secure the appropriate financing. This may involve Seller’s financing, bank loan, Venture Capital financing, Angels financing (private investor), SBA financing and funds obtained through other financing resources. Regardless your financing requirements, we will provide guidance and assistance in locating the right lender.

Escrow & Closing

Your business purchase will be handled by an independent escrow company. Typically an escrow is opened with the deposit of the Buyer’s earnest money down payment, generally within three(3) to five(5) days after all contingencies have been removed or satisfied. The average escrow will close in one(1) to four(4) weeks if there are no recorded liens against the business. A Cashier’s check will be required for the amount due at closing of escrow.

A New and Modern Flooring Option

Laminate floors are an excellent and cheap option for living rooms, kitchens, bathrooms, bedrooms and bathrooms. If you are on a tight budget and you need to modify the floor in your house then you need to consider laminate wood flooring. Before beginning searching for laminate floor you need to know precisely what attributes to look for. The durability and the water-resistant qualities of a specific laminate flooring plank depends many of the business that produces the merchandise and the quality of the board itself. To seek out the most durable planks you might want to look for gray laminate flooring planks that are thicker.

Look for planks which are at least 7mm. You will also need a look at the guarantee offered by the flooring product’s producer. In case the guarantee is under ten years then you need to probably consider another laminate floor merchandise.

In addition into quality, you will also need to shop around for the top finishes. Exotic wood finishes have a tendency to be less affordable than lighter domestic finishes. You may sometimes find clearance sales and special palette liquidation sales on the popular oak laminate flooring finishes.

If you don’t know whether the laminate flooring which you are interested is produced by an excellent brand then only compare their merchandise specifications into that of a comparable flooring product. Many on-line laminate flooring sites will offer inexpensive or free samples that you may use to compare standard as well as appearance.

What goes under your Laminate Flooring

Standard foam underlayment for laminate does not provide a humidity barrier between the sub floor and the engineered or laminate flooring. A standard foam underlayment can simply be utilized in circumstances where there is no possibility for any humidity traveling from your sub floor and to the finished floor material. Standard foam underlayment must just be used on plywood sub floors which have a cellar or on above grade concrete floors, which are common in high rise condos. Plywood floors which have a crawlspace below them must always use an underlayment that has a significant humidity barrier or instead the installation of another plastic humidity barrier to avert the capacity of humidity injury to the wood or laminate flooring.

Resistant standard foam underlayment. In short standard foam underlayment could be utilized in above grade concrete and plywood sub floors, providing which if there is a crawlspace under a plywood sub floor it has to be shielded with another or integral underlayment humidity barrier. If a high amount of sound attenuation is necessary, that is common in multi unit dwellings, the normal foam underlay will not perform satisfactorily. Where the setup of the underlayment requires a humidity barrier most producers have produced a mix standard polyurethane, as formerly described, with an integral plastic picture adhered to one side.

While there are many different trade names for the products they’re all essentially the same material and have the same advantages, disadvantages and inherent quality levels. Having the humidity barrier prevents the potential of humidity entering the laminate or engineered wood flooring from below. The standard foam with integral humidity barrier underlayment is sold in rolls, the many typical being 100 sq. As with the basic normal foam underlayment larger rolls are available for commercial and professional installers. The noise attenuation, enhanced comfort and its capability to eliminate sub floor inconsistencies are the same as the normal foam product – very low.

Very few of the normal foam with integral humidity barrier products have 6 mils of plastic adhering to them. A lot of the manufacturers will advertise their underlayment as being humidity resistant, as opposed to stating that it serves as a humidity barrier. The ability of the underlayment to actually protect the laminate or engineered wood flooring is debatable. If it isn’t installed properly it serves no purpose what-so ever. As formerly mentioned technology in floor underlayment doesn’t stand still.

Roof cleaning for homes

Pressure Washing a Roof for a new look

One of the most often asked questions I get by customers is about How to Keep Your Orlando, FL Roof Looking New?  More and More customer’s are noticing the ugly black stains that appear on asphalt shingle and tile roofs.  Those roof stains not look horrible, but they also actually cause damage to your roof.

pressure cleaning roofs

Cleaning a roof is not a job that should be done by the inexperienced.  There are guidelines set forth by the manufactures of the roof surface that should be closely followed.  Safety practices are another reason for hiring only a professional experienced Orlando Pressure Washing contractor. This is why we only clean roofs as recommended by the Roofing Manufactures Association Guidelines.  Cleaning a roof any other way, would be like buying a brand new car, but not keeping it maintained according to how the manufacture recommends.

Soft Pressure Wash Roofs

One recommendation of the Roofing Manufactures is that a High Powered Pressure Washer should never be used to clean a roof.  In a Tech Bulletin issued by the Asphalt Roofing Manufactures Association, Tech  Bulletin, titled, Algae Discoloration on Roofs, it plainly stats that High Pressure Washing Systems should not be used. One of the questions you should always ask a prospective Roof Cleaning Contractor is if they use a pressure washer to clean a roof. If the answer is Yes, followed by, but we use it under low pressure, then you will know that your roof will not be cleaned according to recommended guidelines.

We never use a pressure washer to clean tile or shingle roofs. Our Winter Springs Pressure Washing  experts use a Soft Wash roof cleaning method that uses less pressure that what comes out of your garden hose.  this assures that there will never be any damage to your roof and that you will never experience granule loss.

Low Back Pain Help

Orlando Osteopathic Manipulative Medicine and Low Back Pain

Low back pain represents one of the most taxing health problems in developed countries and is commonly treated in primary health care settings. Lower Back Pain (LBP) symptoms are the second leading cause of visits to all primary care physicians, and are the most common cause of visits to Osteopathic Physicians.

It is estimated that 15-20% of Americans experience low back pain annually. At any given time, 2% of Americans are disabled due to back problems. The total annual cost of back pain in America has been estimated at $20-50 billion.

low back pain
Auto Injury Lower Back Pain

The clinical management of LBP can be quite varied, both with respect to the diagnostic and therapeutic approaches. Spine care has also changed dramatically with indications for surgical spine care giving way to a comprehensive patient management model that utilizes all aspects in a patient’s bio-psycho-social situation. With the knowledge or an experienced Orlando Osteopathic Doctor the the majority of low back pain is mechanical in nature (up to 90%), it stands to reason that OMM is a useful tool in the diagnostic and therapeutic management of the various mechanical spinal disorders. New evidence of both the physiological mechanism and outcome levels has steadily grown through improved study design as has general interest in the field.

Back Pain From an Automobile Injury

Back pain that appears after an accident could be caused by auto injury to the muscles, ligaments or nerves in the back or even by damage to the vertebrae. That’s why it is important to contact and Orlando Auto Injury Doctor to help cope with minor and major injuries.

Low back pain is found in more than half of rear impact-collisions in which injury was reported, and almost three-quarters of all side-impact crashes,” reports the Back Pain Center.

Due to their complicated nature and profound impact on peoples lives, few topics in health care generate as much controversy as whiplash injuries.  Unlike a broken bone where a simple x-ray can validate the presence of the fracture and standards of care can direct a osteopathic care professional as to the best way in which to handle the auto injury, whiplash injuries involve an unpredictable combination of nervous system, muscles joints and connective tissue disruption that is not simple to diagnose and can be even more of a challenge to treat.

In order to help you understand the nature of whiplash injuries and how they should be treated, it is necessary to spend a bit of time discussing the mechanics of how whiplash injuries occur.

 

 

Central Florida Roofing Advice

Orlando Roofing Contractor and Roofing Repair Specialist

If your roof has started to leak, you should not underestimate the severity of damage it can cause to your home. If you are unsure of the magnitude of a leak in your roof, make sure to call your local Orlando professional roofing contractor who will be able to give you a solution to your problem. Here are some reasons that your roof may be leaking into your home.

Flashing

Flashing is the thin metal sheet; strip, angle or fitting that covers a seam or transition
point in a roof. Flashing is the most common area of your roof to leak. With the harsh weather in the Midwest, it is easily damaged or corroded over time. The flashing on your home could also be poorly installed or of a lower quality than you thought you were having installed.

Skylights

Having skylights really adds ambiance and natural light to your home, but when not built or installed properly, it can cause more of a headache than bliss. If you have a skylight that is older a problem with a leak is almost inevitable. If you notice that the downhill slope of your skylight is filling with water more easily, you will be dealing with a leak in the near future.

Shingle Damage

Your roof most likely is not top of mind if it’s functioning properly, but you have to
remember that your roof will not last forever. How many years has it been sinceorlando-fl-roofing-contractor your roof was installed? Roofs that were built 30 years ago were made of much different and less durable materials, than what is used today. Old shingles will start to crack causing your roof to leak.

Plumbing

Common plumbing issues arise when having to drill holes in your roof. Plumbing vent
pipes, exhaust flues for appliances, attic vents and ventilation ducts are among the most common necessities that have to exit through your roof. Cracked or worn flashing around these pipes and flues are the most common leak source on your roof when it comes to plumbing.

Chimney

Your chimney creates a huge hold in your roof and it also collects water on the surface, which can trickle down and get into the smallest cracks. The leading cause of chimney leaking is failed flashing. Water can pool at the base of your chimney and having pooling water on your roof is never a good thing.

If you are experiencing a leaky roof and are in need of professional assistance you can always look for Orlando Roof Repairs for the best service and a Free quote.