Selling a Harlem Business? Clear Rock can Help.
As one of New York City's top business brokers, Clear Rock is always pleased to help local business owners achieve their goals. Selling a business is always difficult, but with our help - and your preparation - you can be successful. The general rules of thumb for selling a business apply, and here are some specific aspects for Harlem Businesses.
|
|
Read more...
|
|
Upper East Side: More, More, More
New York City is considered the business capital of the world, and although New York City has five boroughs, Manhattan is the one that comes to mind when people think business.
|
|
Read more...
|
|
|
Risks: There are several risks that you will want to
both address and avoid when either issuing or accepting a Letter of
Intent.
After a potential buyer has examined the seller's offer memorandum, the broker will orchestrate a meeting between seller and prospective buyer to answer further questions and discuss the business operation at length.
If the potential buyer is still interested in the company, he will typically submit a formal offer, often in the form of a letter of intent or offer. (Note that this article addresses specifically the LOI as a form of an offer). This is a serious step for both parties as vital price information and terms are agreed upon. Although numerous items may be addressed in a letter of intent - many of which are legal-oriented, the following five business concerns should be dealt with in order to proceed into due diligence:
|
|
Read more...
|
|
 Each business owner looking to sell his/her business has a different reason for the sale. Yet, some common themes seem to come up. Below we capture 8 scenarios we encounter time and again from our seller clients. More importantly – we explore how they might be perceived from the investor / buyer side of the table!
Reason 1: No Succession Plan.
|
|
Read more...
|
|
 When a business owner decides to sell her business, she will want to
maximize profits and transition seamlessly into the next phase of her
life. This article will focus on 5 things HVAC Contractors need to
accomplish (or implement) prior to the sale of the business to make it
as smooth and profitable as possible.
|
|
Read more...
|
|
|
One of the chief questions that we hear asked by sellers is "How long to sell my business?" In fact, next to valuation, it is probably the number one question that we hear buyers asking. The truth of the matter is that there is a wide range of time, and there are a number of items that impact the timing.
Price is the Number One Factor for How Long to Sell a Business
Much like selling a house, if you want it to move you have to be smart in pricing it. In fact, one of the key points raised in any valuation is that the valuator assumes that "the buyer has other comparable options" regarding businesses to buy. Your business is surely unique, but how unique is it to a buyer? In all likelihood a buyer, given a reasonable amount of time, can find a business suitably similar to buy at a reasonable price.
|
|
Read more...
|
|
 If you are going to sell a business, Manhattan is a great place to do it. Consider this: of New York's five boroughs, Manhattan is perhaps the most dense in terms of "companies per capita." You will note that other boroughs have a denser population, but Manhattan is a great place to own and operate a business.
Items to consider as you ponder how to sell a business in Manhattan:
1. High Income Per Capita. The income per capita, as of the 2005 census, was over $47,030 in Manhattan. This compares just over $22,000 city-wide, and $23,000 for the entire state. This provides a great comparison as to the relative wealth of your target customers.
|
|
Read more...
|
|
|
 Here is a scenario that we often encounter: the phenomenally successful business that looks absolutely scary when you walk in the building. Yes, buying a business is based fundamentally on the financial performance of the business. But how does someone get themselves comfortable with the accuracy of the financials?
I can say from experience that the image that a business portrays - and specifically, their physical image - goes a long way towards making a buyer feel comfortable with the business.
|
|
Read more...
|
|
 Wholesale and Distribution companies are very popular with buyers, especially if your company generates strong stable profits. When it comes to selling a distribution company in the New York area, there are 5 key points that business owners should remember.
Profits Dictate Sale Price
The only reason for some one to purchase a business is because they are purchasing the ability to make money. When pricing a business, a buyer is always, in one manner or another, seeking to price the value of that profit stream.
|
|
Read more...
|
|
 Some times it's not easy being young and successful. Especially when you are looking to sell your young, successful company that you have been building for the last several years. Young entrepreneurs often have a challenging time explaining why they want to sell their company. After-all, why would anyone want to sell while their company is doing well and they have years ahead of them?
The Problem: Can it Really Be as Good as Billed?
This is a problem that we see time and again. We have had quite a number of young, successful clients that are looking to cash out of their business. Invariably one of the biggest sticking points is "if this company is so great, why are they selling?"
|
|
Read more...
|
|
|
 Providing Ideas on What It is and How You Quantify It
(April 4, 2007) If you ask ten small business owners if they want to sell their business, nine of them will answer your question with a question of their own: “how much are you willing to pay?” This short discourse illustrates a very important point to anyone interested in purchasing or selling a business: the value of the business is the price a buyer is willing to pay.
|
|
Read more...
|
|
|
|
On Selling a Business 