Before you consider how to sell a construction business, it’s crucial to grasp the actual value of your enterprise. Many construction business owners, possibly including yourself, have historically minimized reported earnings to lessen tax burdens. While this strategy may provide…
As you consider transitioning your business? Whether through a sale, passing it down to family, or structuring an Employee Stock Ownership Plan (ESOP) for employees—begin with clarity. Having a clear understanding of your company’s real value. Many business owners, perhaps…
When it comes to valuing small businesses, there are several methods available, each with its own strengths and limitations. One widely used approach is the Seller’s Discretionary Earnings (SDE) method, which considers various factors to determine the value of a…
We recently met with the family of a business owner who passed away unexpectedly and left an ongoing business to his wife. The business did not have a management team in place and over the probate period, which took about…
You shouldn’t expect to sell your company overnight. For every company that sells quickly, there are a hundred that take many months or even years to sell. Having the correct mindset and understanding of what you must do ahead of…
There is no doubt that the COVID-19 situation seems to change with each and every day. The disruption and chaos that the pandemic has injected into both daily life and business is obvious. Just as it is often difficult to…
Can you sell a business in Tampa Florida during the COVID-19 era? When is the best time to sell my business? Much of that depends on your personal circumstances and your desires. The question has been on the top…
In today’s business climate, reviews are the differentiator. Years ago, people commonly asked for references when they were vetting a product or service. But these days when people are searching for a local business to work with, they are likely…
The 30% – 70% Rule One of the greatest gurus in the business ownership transition industry, Mr. Ed Pendarvis, said in his book, The Family Business, Family Farm: America’s Amazing Economic Engine, that the decision for a business buyer should be based 30%…
Historians have long known the historical relevance and impact of epidemics and pandemics. Despite our various technological advances and the complexity of our society, disease can instantly change the course of history. Not having a robust global system for dealing…
Clearly, some industries are taking a bigger hit from COVID-19 than others. Any industry that requires a great deal of interaction with the public, or where people gather in large groups, are obviously having very tough times. Movie theaters and…
There are many things that you should be doing to deal with the COVID-19 pandemic. At the top of the list is to be proactive. Now is the time to be thinking about how best to position your business after…