Business Exchange, the trusted leader in connecting business buyers and sellers for over 25 years, is proud to announce the launch of its new website domain: BizSold.com

This strategic move marks a significant milestone in Business Exchange’s journey towards becoming the #1 platform for selling businesses, franchises, and commercial properties.

Since its inception, Business Exchange has been dedicated to facilitating seamless transactions between business buyers and sellers, fostering entrepreneurship, and providing access to opportunities across various industries. With a commitment to innovation and excellence, the transition to BizSold.com reflects the company’s unwavering vision and dedication to its core mission – getting businesses sold.

“The launch of BizSold.com represents an exciting chapter in our company’s history,” said Pamela Labelle, President & CEO of Business Exchange. “Our new domain underscores our commitment to simplicity, recognizability, and, above all, our primary goal of facilitating successful business transactions. It aligns perfectly with our 10X growth objectives, driving us towards greater efficiency and effectiveness in serving our clients.”

The decision to transition to BizSold.com reflects Business Exchange’s strategic focus on enhancing user experience, streamlining processes, and reinforcing its dedication to providing clients with top-level results. With a simplified and memorable domain name, Business Exchange aims to amplify its visibility, reach, and impact in the ever-evolving landscape of the business opportunity industry.

“We believe that the new domain, BizSold.com, not only captures the essence of what we do but also resonates with our community of entrepreneurs, investors, and industry professionals,” added Kabir Chaudhry, Vice President of Marketing. “It underscores our commitment to getting businesses sold while emphasising our position as the go-to marketplace for anyone looking to buy a business.”

As Business Exchange embarks on this exciting new chapter, clients can expect the same unparalleled level of service, expertise, and support that has defined the company for over two decades. With BizSold.com, Business Exchange is poised to set new standards of growth in the business opportunity sector and beyond.

For more information about Business Exchange and its services, please visit www.BizSold.com

The post Business Exchange Acquires BizSold.com appeared first on Business Exchange Blog.

Owning a business will benefit you in more ways than one. Here’s why!

Creative Freedom 

Creative Freedom is one of the benefits of buying and operating your own business. You are able to make decisions for your business and design it in any way you want without having to worry about getting permission from any higher-ups. 

Lifestyle Flexibility 

Business owners don’t have to settle for a 9-5 schedule. Instead, you can set your own schedule to allow for more time spent with family or friends. This can be done from the start by picking a business that suits your lifestyle. If you prefer a busy lifestyle you could also choose a Business Service that requires more time and energy. 

Independence

As a business owner, you don’t need to rely on or depend on others for guidance. You create your own tasks and determine your own responsibilities for what needs to be done throughout the day. 

Financial Rewards 

Along with your schedule and every other aspect of your business, you are also in charge of your salary. You can set a salary that takes into account the needs of the business and you will still have the potential to earn more than at your current job. Along with that, any extra revenue will go straight to you. Depending on what field and industry you are in, you could potentially qualify for grants and other government incentives.

Learning Opportunities 

Operating a business comes with a lot of learning opportunities. This includes managing employees, perseverance, risk-taking, time management, and more. Many seasoned business owners continue to learn more each and every day. 

How To Find Businesses For Sale

Business Exchange has been helping many realtors list and sell businesses for over 25 years. Find Businesses For Sale in 47 different industries here or call 1-877-337-1188 and learn more about our Business For Sale listings. If you’re also looking to sell your business, Business Exchange can help you Sell Your Business.

The post Benefits Of Buying And Operating Your Own Business appeared first on Business Exchange Blog.

Commercial Real Estate Can Be a Great Investment Opportunity. Here Are Some Tips That Can Help You Become Successful when Investing in Real Estate. 

Profitable Real Estate Properties

When it comes to Commercial Real Estate, the most profitable commercial real estate properties include multifamily projects, student housing, office spaces, self-storage facilities, and mixed-use buildings.

Location

It’s very important to consider the location of the area when buying commercial real estate since it plays into a lot of factors such as accessibility and the value of the property. The value of the property largely depends on the location of where the commercial real estate is.

 Bigger Units

Larger units can give an opportunity for your business to grow immensely. If your business doesn’t need the entire space, it can be rented out as an alternative income stream.

Return On Investment

When purchasing commercial real estate, make sure to take a look at the ROI (return on investment). Anything above 15% ROI is a great investment. 10% or more is considered a good ROI. ROI is critical for any purchase decision regarding commercial real estate.

Creating Investment Strategy

Create an investment strategy regarding your long and short-term investment goals. In the long run, this will be extremely beneficial for you as it can help you save taxes, help guide investors and present the future need for capital growth.

How To Buy Commercial Property Listings

Business Exchange has been helping Commercial Real Estate Brokers for over 20 years, helping them sell their listings. Find commercial properties for sale, commercial buildings, office space, and land for sale. All commercial property listings can be found on our website. You can also find commercial brokers and get in touch with them.

The post Tips For Success In Commercial Real Estate appeared first on Business Exchange Blog.

Buying a franchise is a lengthy process. Here are some ways for the buyer to prepare themselves before finding the right franchise.

Litigation History 

The first thing to know before purchasing a franchise is the history of litigation within the franchise. Have your team prepare for the legal issues, risks and financial situation at hand. A franchisee may feel obligated to track the legal history of a franchise before they think about joining. Conducting the proper research of the litigation history may save you from disastrous results from buying into the wrong franchise. 

Renewal Rights

It’s not guaranteed that a franchisee is offered friendly renewal terms. Preferably when franchise buyers are looking to buy a unit, the length of the renewal period should be perpetual. Otherwise, that can affect the possibility of the unit selling if the franchisee wanted to sell the unit down the line. It’s important to consider the renewals you’re entitled to is a very important contract term. 

Restricted Covenants 

There are lots of things a franchisee can and cannot do during and after franchise ownership. The important covenants are usually after the ownership. Research the details & restrictions of post-franchise ownership. Some franchises may move to terminate ownership due to the franchisees’ lack of involvement in daily operations.

Company Right To Acquire Units 

Many franchise agreements state that at the end of a franchise agreement, the franchisor has the right to acquire the assets. There’s nothing wrong with selling the franchise back to the franchisor, as long as the price is up to the seller’s expectations. The only issue is if the franchisor is planning to use a “depreciated value” formula to buy the franchise back. This proposed depreciated price is calculated by reducing the value of the unit based on the amount of years the franchisee has had it for. By the time the franchisee wants to sell the unit, it may not be worth as much.  

Franchise Disclosure Agreement 

The franchise disclosure agreement is a legal document provided to the franchisee outlining the franchise system, information about the Franchise For Sale, and any agreements that will need to be signed. Furthermore, the franchise disclosure agreement shows the number of units closed in the past three years. This is important for the franchisee when they have to make an informed decision regarding the purchase of that franchise.

Reaching Out To Current Franchisees 

Potential buyers should reach out to current franchisees of the brand to better understand the brand and the franchising process firsthand. Doing this would give a potential buyer deeper insight into the inner workings of a brand and better understand the investment process.

How To Buy A Franchise

Business Exchange has been working with brokers for the last 25 years to help list franchises on our website. There are many franchises and 47 different industries to choose from. If there are any questions or concerns regarding the franchises, please call 1-877-337-1188.

The post Things To Know Before Buying A Franchise appeared first on Business Exchange Blog.

Purchasing a business can be a difficult process. Things can get overwhelming and stressful, but here is the ultimate guide to buying a business.

Build A Team Of Advisors

The ultimate guide to buying a business starts with building a team of advisors. In the process of purchasing a business, the buyer will need a trusted financial advisor. Buyers can consider an accountant, income tax advisor, business lawyer, banker, or even a chartered business valuator. It all depends on the business for sale the buyer is looking to purchase.

Acquisition Plan

Having an acquisition plan will make purchasing a business easier for the buyer. The buyer must have a target timeline, proposed budget, and characteristics of what type of business they are aiming to purchase. Acquisition planning is an effective strategy to reduce risk. However, it’s important that all aspects of the acquisition plan are covered by those involved.

Buying The Assets Of The Business

If the seller of the business is a corporation or an LLC, do NOT buy the stock in the business. Instead, offer to buy the assets of the business and form a separate company to act like the purchaser. Reason being, the buyer gets better tax treatment. The “tax basis” in the assets will be the amount the buyer paid for them, rather than the amount the seller paid for the assets long time ago. Furthermore, if the seller owes money to others, the buyer won’t assume responsibilities of the liabilities if they buy the assets.

Sales Tax + Payroll Taxes

If the business being bought owes taxes from the previous owner, the buyer may potentially have to deal with the consequences later. It is a complicated and long process to get cleared. It’s recommended to get a letter from CRA to prove that the business is in the clear of any tax issues.

Letter Of Intent (LOI)

A Letter Of Intent is an agreement which provides a framework for negotiations. It should include: purchase price range which is how much the buyer is willing to pay, a clearly stated confidentiality agreement that neither parties will communicate these documents to anyone other than to the opposing party and an overall commitment of both parties. This means that within that period, the seller can’t go to other people and consider other offers without speaking to the buyer.

Verify Business Licenses + Permits

This is easily overlooked by brokers, but ensure the permits and licenses are not expired. This will prevent problems where the buyer won’t have to deal with issues after closing the deal with the seller. There are situations where it could potentially take months to reinstate business licenses and permits. It’s a lot of work and a long process.

Finance The Purchase – Debt Versus Equity

Debt financing the business is almost always the best option compared to giving away equity in the business. There is a chance that in the future the buyer won’t have full ownership and control of their business. This can lead to a lot of complications down the road.

How To Buy A Business

Business Exchange has been working with brokers for the last 25 years putting up business listings and businesses for sale. If you’re interested in buying a business, our website has a business-for-sale section with over 47 industries. For more information or questions, please call 1-877-337-1188.

The post The Ultimate Guide To Buying A Business appeared first on Business Exchange Blog.

The Business Exchange Corp. has released a new mobile app. The app had a soft launch at the Toronto Franchise Show, and thousands of people took interest in it. Franchisors and franchisees were interested in the app. The turnout of people being satisfied with the app overall was high. The Toronto Franchise Show had many different franchise vendors taking interest with listing their franchise listings on the app. Many people have said the user interface was “more convenient, and less time consuming” compared to the website itself. 

Available via IOS and Android, the mobile app consists of various listings from businesses, franchises, and real estate. Instead of scrolling endlessly on the website, with one swipe, people can now find all the information about that specific listing. The app is designed to help people save time when researching companies and looking at listings. It does this by allowing users to quickly view photos of listings and get an overview of all their options.

 With the new mobile app, people can directly contact the listing agent all in the app with no complications. The “one swipe” option on the app allows users to swipe left if they’re not interested in a listing, and right if they are. If a user is interested in a listing, the app will send a notification to the advertiser about their interest without any action required from the user. People can also find specific categories for listings and find their preferred price point for listings. 

With the convenience of just a swipe, people can find a suitable listing just for them in a matter of a couple of minutes. There are 6 main categories, including Businesses for sale, Franchises for sale, Commercial Real Estate, Business Services, Wanted Ads, and Pre-Construction Properties. With 47 selected industry categories there is a variety of businesses to choose from to suit anyone’s interests

La nouvelle application mobile changera la donne pour l’entreprise et le marché de franchise.

The Business Exchange Corp. a lancé une nouvelle application mobile. L’application a fait l’objet d’un prélancement au Toronto Franchise Show et des milliers de personnes s’y sont intéressées. Franchiseurs et franchisés étaient intéressés par l’application. Beaucoup de gens étaient très satisfaits de l’application mobile. Le Toronto Franchise Show avait de nombreux vendeurs franchisés différents s’intéresser à annoncer de leurs franchises sur l’application. Beaucoup de gens ont dit que l’interface utilisatrice était « plus pratique et moins longue » que le site Web lui-même. 

Disponible via IOS et Android, l’application mobile se compose de diverses annonces d’entreprises, de franchises et de l’immobilier. Au lieu de défiler continuellement sur le site Web, avec faire un glisser, les gens peuvent maintenant trouver toutes les informations sur cette annonce spécifique. L’application est conçue pour aider les gens à gagner du temps lors de la recherche d’entreprises et la recherche d’annonces. Il le fait en permettant aux utilisateurs de visualiser rapidement les photos des annonces et d’obtenir un aperçu de toutes leurs options.

Avec la nouvelle application mobile, les gens peuvent contacter directement l’agent d’annonce tout dans l’application sans complications. L’option « un glisser » sur l’application permet aux utilisateurs de glisser vers la gauche s’ils ne sont pas intéressés par une annonce et vers la droite s’ils le sont. Si un utilisateur est intéressé par une annonce, l’application enverra une notification à l’annonceur sur leur intérêt sans aucune action requise de l’utilisateur. Les gens peuvent également trouver des catégories spécifiques pour les annonces et trouver leur point de prix préférés pour les annonces. 

Avec la commodité de faire glisser, les gens peuvent trouver une liste appropriée juste pour eux en quelques minutes. Il y a six catégories principales, y compris les entreprises à vendre, les franchises à vendre, l’immobilier commercial, les services aux entreprises, les annonces recherchées et les propriétés avant construction. Avec quarante-sept catégories d’industries sélectionnées, il y a une variété d’entreprises à choisir pour répondre aux intérêts de tous.

The post Launch of New Business Exchange Mobile App appeared first on Business Exchange Blog.

About this event:

Are you thinking about buying a business? Looking for businesses for sale? Don’t know where to begin? Attend the Business Exchange Virtual Event and in 1.5 hours you will learn the ins and outs of buying a business in Canada and learn where to find a business for sale in Canada.

On July 20th learn from our expert panel on where to find businesses for sale, how to get business financing, legal and financial considerations, the benefits of using a business broker, and is franchising right for you.

If you are serious about getting into business, you won’t want to miss this event.

📅 Date: Wednesday, July 20, 2022

⌚ Time: 12:00 PM – 1:30 PM.

🎦 Event Type: Virtual Event. 

🎫 Admission: FREE to attend. Please make sure to register to get the access pass.

Reasons to attend?

• Avoid costly mistakes when buying a business or franchise
• Learn about the due diligence process
• Free legal advice that you need before starting a business
• Tips on structuring your business to reduce your taxes
• Learn about the business financing options available in Canada
• Benefits of using a business broker and realtor for the buying process
• Where to find your next business opportunity

Meet Our Speakers

🎤 Pamela Labelle – Business Exchange, CEO & President

Topic: Where You Can Find Businesses for Sale

🎤 Armond Azoomanian – Homelife/Response Realty Inc ., Broker

Topic: Benefits of Using a Business Broker to Buy a Business

🎤 Tyril Froese – MNP, CPA, Partner, Professional and Private Enterprise

Topic: Financials of Buying a Business

🎤 Frank Robinson – Cassels Brock & Blackwell LLP, Business Lawyer

Topic: Legal Aspects of Buying a Business or Franchise

🎤 Shawn Allen – Matrix Mortgage, Principal Owner

Topic: Getting Financing to Buy a Businesses

🎤 Ryan Hillis – Meltwich Hospitality Group Inc, VP of Revenue

Topic: Benefits of Buying a Franchise Business

These events always fill up fast so don’t wait!

Sign-up today: https://thebizex.com/blog/buy-business-canada

The session will be delivered via Zoom and full instructions will be provided by email.

The post Learn How To Buy A Business In Canada! Free Webinar Event appeared first on Business Exchange Blog.

STEP #1 – Deciding to Sell Your Business

Making the decision to sell your business is the first step in a series of processes to close the deal. Although it may seem simple, remaining confident in your choice is very important and will help solidify your motivations for pursuing an exit strategy. The most common question prospective buyers ask is: Why are you selling your business?

Knowing the answers will give you determination and help you in dealing with inquiries from prospective buyers.

Avoiding Seller’s Remorse: What’s your Why?

Your “why” is what will motivate you to create a strong and determined exit strategy. When deciding to sell your business, weigh out the pros and cons of selling your business and seriously consider your reasons and motivations. Staying confident in your decision will help motivate you to plan and execute a purposeful exit strategy.

Common Reasons Why Business Owners Decide to Sell: 

• RETIREMENT: Leaving the workplace behind to have a comfortable retirement.
• NEW OPPORTUNITIES: Deciding to try a new business venture or change industries.
• PEAK OF PROFITABILITY: Selling due to an upcoming decline in business.
• HEALTH & STRESS: Facing health challenges or feeling burnt out from work.
• DIVERSIFYING: Looking to invest and expand business portfolio.

Motivations & Approaches

Once you have come to terms with your “why”, it is time to start considering your selling motivations. Ask yourself:

• Are you willing to still be involved with your business post-sale?
• Are you looking to leave immediately after the sale?
• Are you looking to secure the highest possible price?
• What compromises are you willing to make?

Think about the most agreeable terms and conditions that benefit yourself, when selling your business. All of these questions need to be factored in when considering who will be buying your business. Try to align your financial and personal motivations with who you are considering as a prospective buyer.

Prospective buyers include:

Existing partners

Competitors

Outside individuals

Family members

Employees

Buyer Benefits 

Existing Partner – immediate sale & payoff, immediate departure, little disruption to clients/staff, may require ongoing involvement

Individual – immediate sale & payoff, strong selling price, no ongoing involvement required

B2B – strong selling price, immediate payoff, sale terms may require ongoing involvement

Goals and Objectives for your Exit Strategy

Based on your motivations and sales approach, develop goal statements and objectives for your exit strategy. Questions to consider:

• What are my motivations for selling?
• Who am I willing to sell my business to?
• How long are you willing to wait for a sale?
• What are my post-sale objectives for me and my business?

Develop a Goal Statement Using the Following Formula

Financial Objectives + Ideal Buyer + Time Frame + Post-Sale Objectives = Exit Strategy Goals

For example, a goal statement and objective for an exit strategy can look like this:

“I intend to sell my business for the highest possible price to an individual that has the financial and managerial capability to run my business. I would like to sell my business immediately within 6 months and have no involvement post-sale. I prefer to sell my business to a buyer that will retain employees and make no significant alterations to the business model.”

Each goal statement will vary depending on what is important for your specific exit strategy. Compromises to your goals and objectives may occur along the way but this exercise helps to generate a guideline to clearly define what you are expecting in a business sale.

STEP #2 – Preparing to Sell Your Business

Assessing The Situation

Before listing your business for sale, conduct an assessment to identify the strengths and weaknesses of your business and strive to amend any weaknesses to make your business more attractive.

Create a list of legal, financial and operational conditions. From there, assess the quality of these conditions and see where your business needs improvement.

A well-rounded business is more likely to be successful in attracting prospective buyers. Refer to the table below for your business assessment checklist:

Execute an Improvement Plan

Based on your business assessment, create and execute an improvement plan that will strengthen your business before sale.Consider the necessary steps required to improve your business and set a timeline for these improvements and invest in the resources.

Depending on the size of your business, on average it takes about 3 – 12 months to sell a business. This process includes preparing documentation, marketing your business, finding the right buyer and closing the sale.

Take time to improve your business because buyers will be assessing it from various perspectives such as legal, financial and operational. By executing an improvement plan you will create a strong vantage point for your negotiations.

As you strengthen your business for presentation to buyers, it is advised to keep your sale plans as quiet as possible. You should only share your sale intentions with staff members and consultants when necessary and should be followed with a non-disclosure agreement.

The reason why you want to keep your sale intentions quiet is because you risk creating uncertainty within the business, employees, clients, suppliers, etc. This uncertainty can devalue your business, while you try to improve and increase its worth.

Tips for an Effective Improvement Plan

Grow Your Profits
If you are planning on selling your business, it is wise to grow your profits as much as possible because your business worth is a multiple of its profit. Small businesses average about 2-3 times profit. Medium businesses are 3-5 times profit and large businesses can expect up to 5-10 times profit. The higher your profits, the more your is business worth.
Collect Your Documentation
Non-disclosure agreements, business plans, marketing plans, revenue/profit projections, financial statements (past 2-3 years), tax returns, leases, loan agreements, inventory, client contracts, insurance policies, product/service prices etc that are relevant to your business. Prospective buyers and advisors will be looking for this kind of information, so while you are executing your improvement plan, start collecting these documents to help prepare you for the sale.
Time is Money
Consider the amount of effort it takes to operate your business and also go through the business sale process. Are you prepared to continue operating, while actively looking to sell? Depending on your exit strategy goals, consider getting help from advisors.

Getting an Appraisal

After implementing an improvement plan, you will then want to determine the value of your business to make sure you don’t price it too high or too low. Find a business appraiser to provide a valuation of your business. You can get a professional valuation from local accounting firms, investment banking firms and business brokers.

Appraisers require formal documentation for the past 3-5 years such as: Business Plans, Tax Returns, Financial Projections, Legal Documents, Leases, Assets, Contracts, Agreements, Income Statements, etc. For best practice, make sure that the appraiser performing your valuation has access to the most current data regarding business transactions in your industry.

Finding the Right Advisors

When preparing your business for sale, it is important to assemble a strong team of advisors to help you navigate the sale process.

Advisors for selling a business include: business appraisers, accountants, lawyers, consultants and business brokers.

Every business sale requires a team of advisors, however the team members depend on the complexity of your business, your abilities and experience, as well as the amount of energy you are willing to devote to the sale process.

• BUSINESS APPRAISERS – Provides business valuation and determines reasonable selling prices.
• LAWYERS – Provides legal assistance during negotiations & necessary paperwork for the close.
• ACCOUNTANTS – Prepares financial documents necessary for business appraisals and prospective buyers.
• BUSINESS BROKERS – Assists in all stages of the purchase and sale of your business.

As a private seller, you would be responsible for all facets of the business selling process. Your team of advisors would consist of accountants, business appraisers and lawyers.

Selling your business privately allows you to save money. But operating a business and the selling process is a huge endeavor that requires a lot of time and energy.

Consider working with an experienced business broker because they manage the selling process and can connect you with existing potential buyers.

Advantages of Using a Business Broker

Industry Knowledge
Choose a broker that has experience in selling businesses in your industry. Every industry has a unique selling process, and by leveraging an experienced business broker you will accelerate the selling process. For instance, a business broker that sells dry cleaning businesses, may not know how to sell a restaurant with liquor licensing.
Marketing
Experienced business brokers have the knowledge in advertising and marketing your specific kind of business. Brokers can leverage different marketing channels that will yield the optimal volume of prospective buyers for you. Professional brokers should be able to advertise your business effectively and screen out the buyers for the business owner.
Time
There are many advisors involved in selling a business. Business brokers can save you time by coordinating with all the respective parties. They have experience dealing with appraisers, lawyers, accountants and buyers. While they take care of the business selling process, you can focus on improving your business to get the highest valuation possible.
Negotiation Power
Brokers are skilled negotiators educated on negotiating prices, terms, conditions and other aspects of the sale. Their job is to bring buyers, sellers and possible third parties, like landlords, together by mediating the transaction.
Protection
Business brokers are trained in legislation and the necessary paperwork in selling a business. Brokers will request the disclosure of a prospective buyer’s finances. This helps protect the seller by reducing the risk of prospective buyers defaulting on their finances. An experienced business broker will qualify the right buyers, which significantly reduces the chances of a business dealing falling apart.
Closing Fee
Business brokers charge a percentage of the sales price. This is called a success fee, which is based on a percentage of the closing price for your business sale. Although you have to pay the broker a commission, this is an incentive for them to sell your business as quickly and for the highest price possible.

Selling a Franchise

Due to the corporate system of a franchise, you have to go through the franchisor in order to sell your franchise business. Approach your franchisor and notify them of your intent to sell. Franchisors are accustomed to their franchisees exiting at some point.

Find out what assistance they can provide in the selling process, and if they are able to help you with a resale or transfer. The process varies significantly depending on what kind of franchise you own.

What are the Transfer Fees?

Check your franchise agreement for transfer fees. Some franchisors do not charge a transfer fee; others may charge transfer fees between $1,000 and $30,000.

What qualifications do Buyers Need?

Your franchisor must approve the buyer before you can sell your business. Qualifications usually relate to credit score, net worth and/or experience.

Rules of Thumb for Valuing a Franchise

Franchises normally share the basic rules of thumb in determining the sales price — i.e., what multiples of your gross revenue or cash flow you may be able sell your franchise for.

Will the Head Office Help Me Sell

Some Franchisors will take over the entire process and other franchisors do not want any involvement with the resale other than to approve the new franchisee. 

STEP #3 – Marketing Your Business for Sale

Confidentiality

In the business selling process, confidentiality is generally needed in order to reach your exit strategy goals. Giving away too much information can be detrimental in a number of ways:

Customers, suppliers and employees may become hesitant when a business is for sale. This can disrupt your current operations and therefore weaken your business valuation.

Prospective buyers may become hesitant about purchasing a business if they feel that too much sensitive information has been divulged to others.

Marketing with Confidentiality

Consider advertising by using blind ads and listings. Don’t share your business name until you’ve qualified prospective buyers and obtained their confidentiality agreements.

For example: PROFITABLE CONVENIENCE STORE FOR SALE GREAT LOCATION & ESTABLISHED CLIENTÈLE

Qualified buyers expect to be screened thoroughly before having sensitive information shared with them. Qualified buyers want to know that the business they are buying is carefully protected in terms of sensitive information.

Keep the conversation going and have patience through the business selling process. There may be a lot of back and forth with your prospective buyer, but make sure to release sensitive information only when you deem fit.

Give allowance for buyers to do their due diligence, as it can take them on average 30 – 90 days before making an offer. Continue exploring different prospects and always follow up.

STEP #4 – Negotiating with Buyers

Buyers want to acquire companies at the lowest possible price with the most favorable terms, while business owners aim to reap the rewards by maximizing the price and arranging for optimal seller terms. Despite the tension of these opposing goals, buyers and sellers share the same goal: to close the deal.

Tips on Negotiating with Buyers

• Request a Letter of Intent

Include a proposed purchase price, terms, conditions and warranties. This establishes a general framework for your negotiations on a final sale agreement.

• Consult with your Sale Advisors

Consult with your legal and accounting advisors to ensure that the sales agreement offers you the greatest financial benefit at the lowest tax liability.

• Never Settle for Just One Buyer

It is good to have a couple of prospective buyers so that you can start a bidding war, or just in case one of them falters.

• Have a Walk-Away Number ­­

This is the lowest amount you are willing to sell for. Crunch the numbers and do not be afraid to walk away if the buyer offers less. Sticking to your walk-away number can ensure that you are comfortable with the final deal.

• Cooperate with Due Diligence

Keep in contact with your buyer and create a plan for the due diligence process. Identify qualifying steps where sensitive information should become available.

• Ask Questions of Your Buyer ­­­

As a seller, do your due diligence and ask questions about their financial situation.

• Prepare Agreements in Writing

Potential buyers should sign a nondisclosure agreement to protect your business information.

STEP# 5 – Closing The Sale

After closing the sale, there is a transition period which typically involves a period of cooperation where the seller assists the buyer in transitioning the business. This typically includes introducing new owner to key clients, transitioning the financing and accounting, and answering questions on how to operate the business optimally.

About The Business Exchange

Established in 1998, The Business Exchange has over 20 years of experience specializing in lead generation in the franchise and business opportunity industry, in print and online.

We are a full-service advertising agency that connects business sellers to prospective buyers. Call us today at 1-877-337-1188 to learn more about our Businesses for Sale listings and Request a Quote!

The post How to Get The Most Money for Your Business appeared first on Business Exchange Blog.

TORONTO, July 27, 2020 – Cushman & Wakefield Asset Services has announced a new partnership with Canadian retail platform, GetintheLoop, to support its retailers and customers. The app service is scheduled to launch summer of 2020 at 21 retail centres across Canada.

Through this partnership, more than 1,500 retailers in Cushman & Wakefield properties will receive access to GetintheLoop’s mobile marketing platform to better reach local residents via their smartphones, email, and web. GetintheLoop will act as a single source for accurate and relevant local retail information, integrating data from the app onto each centre’s website, and app users will have the added benefit of receiving push notifications including dynamic offers such as gift card programs, delivery or curbside pickup options, incentives and offers to support retail businesses now, when they need it most.

“When our guests install the GetintheLoop app on their devices, they will essentially have their local mall in their pockets,” said Molly Westbrook, Cushman & Wakefield’s Executive Managing Director for Canada. “Retail operations and consumer habits are rapidly evolving, and we want to support our retailer partners in this evolution, extending beyond the physical space of our centres. Partnering with GetintheLoop allows us to enhance the guest experience, giving them a direct line on new arrivals, local promotions and sales, and much more.”

Consumers can download GetintheLoop for free in the App Store and Google Play store and opt-in to receive curated, local offers. Push notifications can be enabled or modified so consumers can receive timely updates from their local Cushman & Wakefield-managed shopping centre.

“We’re thrilled to partner with an innovative, community-minded organization like Cushman & Wakefield,” said GetintheLoop’s Founder and CEO, Matt Crowell. “We want our technology to help communities stay connected and support local retail during this critical time.”

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with
approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

About GetintheLoop

GetintheLoop is Canada’s leading mobile offers platform in more than 70 markets across Canada, providing local businesses with a simple-to-use mobile platform to reach interested and active consumers on their smartphone. Users simply download the free app and opt-in to receive curated, local offers and experiences from top brands and local businesses including retail, restaurants, spas and salons and service providers. GetintheLoop has adapted their platform during this unprecedented time to provide local businesses with a real-time ability to promote their businesses’ evolving products and services to local residents who are safely social distancing.

The post Cushman & Wakefield Partners with GetintheLoop Retail App to Enhance Customer Experience appeared first on Business Exchange Blog.

Barter Network Services:

Printing & Signage (Offset, Digital & Large Formats) Promotional Items

If you’re company needs some design and graphic work, Barter Network may be able to help you out with:

• Postcards, Business cards, Booklets, Posters, Brochures, Labels, etc.
• Banners, Coroplast, Window and Vehicle Decals, Trade Show Booth Panels, Magnetic Signs, etc.
• Apparel – Shirts, Jackets, Hats, Bags, etc.
• Consumer Goods – Pens, Water Bottles, Mugs, Magnets, Lip Balms, Keychains

Media Advertising & Marketing

Looking to boost your company’s marketing efforts, but don’t have the capital? Maybe Barter Network can help with:

• Radio & Television
• Print – Magazine, Newspaper, Direct Mail
• Online, Social Media
• Outdoor & Indoor Advertising, Trade Shows

Personal Protective Equipment

At BNL we have worked tirelessly to source timely products and services to offer you, in order to further help protect you, your families and to maintain safety for your Staff! Shortly, we will still need to exit our homes for work, groceries and to visit the bank or pharmacy, still having contact with others. Let’s work together to help stop the spread!

Here are some important things we can currently offer to you:

• Disinfectant Fogging and Deep Cleaning services for your Office
• Reusable and medical-grade Face Masks
• Cleaning and Sanitizing Products
• Plastic Face Shields for shopping or for your workers
• Acrylic Barrier Shields for reception and payment areas
• Instructional and Directional Signage like Vinyl Banners, Floor Decals and more!

Corporate Giveaways

• Golf Products and Passes
• Collectables – Sports Memorabilia, Artwork, Jewelry, Watches
• Gift Baskets
• Certificates – Restaurants, Health and Wellness, Entertainment
• Tickets – Sports, Shows

Dental, Health & Wellness (Family & Employees)

Barter Network has a complete health and wellness directory for all your needs! Use your Barter Network Dollars and save your cash!

• Dental & Orthodontic
• Optometry and Prescription Eyewear
• Physical Wellness – Massage Therapy, Chiropractic, Physiotherapy, Acupuncture, etc.
• Psychology and Online Counselling
• Gym Memberships, Personal Training, Fitness Classes
• Weight Management, Nutritional Consulting, Vitamins & Supplements
• Laser Treatment – Skin, Hair, Stop Smoking Programs, etc.

Business & Professional Services (Corporate & Personal)

Looking for business and/or professional services for your business or personal life? Maybe some of these services may be of interest to you. Barter Network can be your solution!

• Telecommunication – Telephone Answering Service, Phone Systems
• Alarm and Security Monitoring
• Internet Service Providers, Web Design, SEO
• Office Furniture and Equipment, Printer Toners
• Sales Program and Boot Camps
• Customer Service Training, Conflict Resolutions, Business Coaching
• First Aid and Safety
• Expert Photography & Video Marketing
• Real Estate – Agents, Brokers
• Accountants, Bookkeepers
• Lawyers & Paralegals – Family, Small Claims, Business, Disputes, Real Estate
• Interior Design Services
• Commercial Photographers
• Immigration Services
• Domestic Agencies

Event Services (Social & Corporate)

• Event Venues, Conference Centres
• Rentals – Furniture, Décor, Table/Diningware, Audio/Visuals, etc.
• Entertainment – DJs, Live Entertainers, etc.
• Catering and Take-out
• Limousine Transportation

Automotive Services

• Detailing – Interior, Exterior
• Repair, Servicing and Cleaning Chemicals
• Rustproofing and Window Tinting
• Truck Bedliners and WeatherTech Products
• Autobody, Collision Repair and Window Tinting
• Dashcams

Commercial Cleaning Services

• Windows, Carpets, Ducts
• Ongoing Commerical Cleaning (selected regions)
• Cleaning Supplies – Soaps, Detergents, Solutions

Travel (Corporate & Personal)

• Accommodations throughout Canada, USA and International
• Timeshare and Condo Rentals Worldwide
• All-Inclusive Resorts (land portion only)
• Bed & Breakfasts, Resorts, Rental Properties
• Train Tickets

For the 18th straight year, Barter Network has been honoured with the Consumers’ Choice Award for the best Barter Service Trade Exchange in Toronto & Ottawa!

This prestigious award was presented to BNL this month and was based on an independent evaluation of 1600 companies by Survey Sampling International.

If you are interested in any of Barter Network’s services, be sure to fill out the Send Me More Information form on the right side here: https://thebizex.com/listing/barter-network-barter-services

About the Business Exchange

Established in 1998, The Business Exchange has over 20 years of experience specializing in lead generation in the franchise and business opportunity industry, in print and online. We are a full-service advertising agency that connects business sellers to prospective buyers. Call us today at 1-877-337-1188 to learn more about our Business for Sale listings and Request a Quote!

The post Cut Your Operational Costs with Barter Network appeared first on Business Exchange Blog.