S7 W3 E9-12 The Entrepreneur’s Edge with Bill Kelly Expert Advice on Buying and Selling a Business with Bill Kelly

The Entrepreneur’s Edge with Bill Kelly
​
Expert Advice on Buying and Selling a Business on the IBGR.Network ...The World of Business at Your Fingertips
Week 3 Episodes 9-12  Preparing to Sell Your Business 

Welcome to week 3 of the Entrepreneur’s Edge 

Quote of the Week: “The biggest risk is not taking any risk … in a world that is changing really quickly, the only strategy that is guaranteed to fail is not taking risks” – Mark Zuckerberg

Episode 9 Selling With Management in Place

The Franchise Modeled Business Always Brings the Best Value. 

1. I love the franchise model. It is without a doubt one of the best ways to operate a business. It is also a guide for Entrepreneurs to receive the best value for their business when it is sold.
   
   
   
2. This allows the business to grow more efficient and profitable, eventually allowing the owner to transition from a key employee to a system manager.
   
   
   
3. The magic of the franchise model is that each process in the business has a written procedure that is constantly evaluated by the owner, other employees and most importantly the customers, so it can grow stronger and better.
   
   
   
4. Businesses with management and operational systems in place where the owner is focused on oversite and growth always sell faster and for higher values.
    

Tags: Selling a Business, Business Brokers, Franchise Model, Buying a Business, Transworld Business Advisors  ​

EPISODE 10 Determining the Asking Price for Your Business
Consult your Business Broker   

1. Business valuation can be complicated. The asking price has nothing to do with how much money or time was invested into the business.  
2. There are multiple ways of evaluating the net worth of a business.  Some of the most popular include Percentage of Net Sales, Sellers Discretionary Earnings, EBITDA
   
3. ​Market conditions are always considered in the asking price. Brokers know the local market and can give you guidance for getting the best value for your business.
   
   
4. Remember, in most cases all the cash and receivables in the business belong to the owner at closing.   ​

Tags: Selling a Business, Business Brokers, SDE, EBITDA, Buying a Business, Confidentiality, Transworld Business Advisors  

​Episode 11 The Transworld Selling Process
What to Expect During the Sale Preparation Process 

1. Transworld is the largest business broker in the US, and a franchise with over 300 locally owned offices across the country. Our sale process has been developed over 40 years of success.
   
   
   
2. There is usually no charge for an Initial consultation and Broker Business Valuation. We will work with you to prepare your business for sale.
   
   
   
3. We Collect Information, Package the Business, and Market the Business
     
4. We prepare you for Due Diligence, Qualify Buyers, and Recommend Professionals to advise you. 
   
   
   
   

Tags: Selling a Business, Business Brokers, Broker Fees, Legal Fees, Accounting Fees, Financial Planning Fees, Business Sale Costs, Broker Fees, Transworld Business Advisors 

​

Episode 12 The Transworld Selling Process
What to Expect During the Sales Process

1. As the selling process begins, we prepare you for Due Diligence, Qualify Buyers, and Recommend Professionals to advise you. 
   
   
   
2. We handle all Contact with the Buyer and Facilitate Offers. Then we Facilitate Due Diligence Inspection and Landlord Approvals.   
   
   
   
3. As your Business Broker we help the Buyer get Financing and help the Seller through the process.
   
   
   
4. Finally, we help provide the documents required for closing and coordinate the closing process. 

Tags: Selling a Business, Business Brokers, Business Marketing, Business Sales, Business Brokers, Transworld Business Advisors

Short Bio: Bill Kelly is a Senior Business Broker and Franchise Consultant for Transworld Business Advisors of Richmond, VA, and  a Licensed Virginia Commercial Real Estate Agent. Bill has been a lifelong Entrepreneur and has personally started/purchased and sold eleven businesses. He lives in Richmond, Virginia, with his wife Rebecca, and two daughters, and one granddaughter. 
   
Contact links: bkelly@tworld.com

Social Media:     Facebook: https://www.facebook.com/BillKelly1955
        LinkedIn: https://www.linkedin.com/in/billkellyprofile/
Website:     https://www.tworld.com/agent/billkelly/

LISTEN LIVE: IBGR.Network
Subscribe to Podcast

​