International Business Growth Radio Network
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • OnAir Talent >
      • William Eastman
      • David Wilson
      • Ellen McIlhenny
      • Angela Chaney
      • Richard Miller
      • Ravin S. Papiah
      • Steve Sweeney
      • Kasfia Rashid
      • Bob DiGiacomo
      • Lisa Askwith
      • Ally Nitschke
      • Russell Colbourne
      • Jeremy Gray
      • Raj Kapur
      • Crystal Y. Davis
      • Sarita Johan
      • Brandon Souba
      • Kevin Beers
      • Londina Cruz
      • Bert Robinson
      • Jonathan Kennedy Jr
      • Damian Johnson
      • Rick Carter
    • Agilerad.io
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP

show notes

Stages of Development

The Smart and Savvy Exit - What to Look for in a Potential Buyer - Ellen McIlhenny

16/3/2021

0 Comments

 
Picture
Ellen McIlhenny - “The Smart and Savvy Exit – What to look for in a potential buyer”

IBGR.Network - PROFIT Radio. #1 global business talk & news Network. Everything a business owner needs to start, grow, or exit a business. GROW WITH US.
 
INTRODUCTION
It occurred to me this weekend that one of the things I had not really researched was how the pandemic affected business sales in the United States.

Well not surprisingly it really has been dependent on how pandemic-proof your business is. We know that there are some industries that have thrived during the past year; ones that offer help to people and businesses adapt to new lifestyles and working conditions. 

By mid-year last year of the businesses that were able to sell, median sale prices rose by about 6%. This comes from the online marketplace for businesses, BizBuySell.com. But numbers of transactions dropped 39% from 2019.  There were real winners and losers in 2020. As you might expect full-service restaurant owners were the hardest hit, many of whom were forced to delay plans for retirement from the business.

Also, not surprising is the mix of people who ended up buying businesses in 2020.  Again, from BizBuySell, most were people who lost jobs due to the pandemic, others were existing owners looking to expand and those hoping for a bargain in the pandemic’s small-business wreckage.

Gyms and fitness centers were part of another business segment that was hard hit by the pandemic. Not only were potential buyers skittish on the outlook, but lenders were almost universally avoiding financing for businesses in certain segments. It is hard to justify valuations on businesses that had virtually no income last year.

In the coming year, of course the outlook is much brighter as more people are vaccinated and life slowly returns to normal. However, there will probably be a delay in the re-marketing of businesses in the hard-hit segments until there are at least a few quarters of numbers that indicate a turnaround.
 
Show Objectives - The Why
 
Today we will be talking about how to vet a potential buyer. You have spent too much time building your business to let someone who does not match your company values come in and potentially change or even ruin what you created. We will look at some of the qualities and intentions you should look for in someone wanting to buy your business.

Key Issues
  1. Important questions you should ask all potential buyers.
  2. Determining who are your potential buyers.
  3. Determining the best place to look for your potential buyers.
  4. Qualifying your potential buyers.
  5. What to do to attract the right buyers.
  6. Keeping those right buyers. Know exactly what you want before negotiating.
  7. Closing the deal.
  8. A story of what can happen when the buyer and seller are not clear on intentions. This is a personal experience that you will not want to miss.

 Shows 
  • Previous: Podcast Episodes 37 – 40 of Season 4 - The Smart and Savvy Exit – The Importance of Having a CPA on Your Exit Team – We talked about how a CPA can help mitigate the tax burden when selling your business.

Find My Podcast at
https://pod.co/future-financial-confidence-with-ellen-mcilhenny


Next Week: 
Episode 12 of Season 4 – An interview with a Financial Advisor.


Resources:
Written by Ellen McIlhenny 
Owner of CFO Plus Services, a Fractional CFO services firm which also offers Back Office Bookkeeping Services.  Author of the business novel The Big Turnaround; How Bad Management Nearly Destroyed an Exceptional Company. Check it out at https://thebigturnaround.com


You can connect with Ellen on any of her #cfoplusservices platforms or ellen@cfoplusservices.com
https://cfoplusservices.com
Connect on LinkedIn
Follow on Facebook


​
0 Comments



Leave a Reply.

    new choice for BUSINESS SEARCH

    ​All IBGR Shows Notes are available for download

    Authors

    - (NA) North American Radio Hosts
    ​- (AA) Australasian Radio Hosts
    - (SA) South Asian Radio Hosts
    - (PM) Prime Meridian Radio Hosts

    Archives

    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020

    Categories

    All
    Season 1 - A. Strategy
    Season 1 - B. Operations
    Season 1 - C. Sales
    Season 1 - D. People
    Season 1 - E. Ownership
    Season 1 - F. Coaching & Consulting
    Season 2 - A. Financial Results
    Season 2 - B. Operational Productivity
    Season 2 - C. Sales Effectiveness
    Season 2 - D. People Performance
    Season 2 - E. Owner As Executive
    Season 3 - C. Customers
    Season 3 - E. Executive
    Season 3 - F. Finances
    Season 3 - IBGR Specials
    Season 3 - O. Operations
    Season 3 - P. People
    Season 3 - Special Series
    Season 4 - Customers
    Season 4 - Executive
    Season 4 - Finance
    Season 4 IBGR Specials
    Season 4 - Market Domination
    Season 4 - Operations
    Season 4 - People
    Season 4 - SPECIAL SHOW
    Season 5 Customers
    Season 5 Finance
    Season 5 People
    SPECIAL EPISODE

    RSS Feed

Site powered by Weebly. Managed by Radio.co, Designed by gWORX Media
Photo used under Creative Commons from magerleagues
  • HOME
    • YOU >
      • Grow with Us
      • Themes
      • FAQ
    • US >
      • North American Partners >
        • North American Hosts
        • North American Directory
      • Australasia Partners >
        • Australasia Hosts
        • Australasia Directory
      • South Asia Partners >
        • South Asia Hosts
        • South Asia Directory
      • Prime Meridian Partners >
        • Prime Hosts
        • Prime Directory
      • Exec Team
    • LISTEN NOW >
      • OnAir TODAY
      • Show Notes
      • Podcasts
  • News
  • Blog
  • NETWORK
    • OnAir Talent >
      • William Eastman
      • David Wilson
      • Ellen McIlhenny
      • Angela Chaney
      • Richard Miller
      • Ravin S. Papiah
      • Steve Sweeney
      • Kasfia Rashid
      • Bob DiGiacomo
      • Lisa Askwith
      • Ally Nitschke
      • Russell Colbourne
      • Jeremy Gray
      • Raj Kapur
      • Crystal Y. Davis
      • Sarita Johan
      • Brandon Souba
      • Kevin Beers
      • Londina Cruz
      • Bert Robinson
      • Jonathan Kennedy Jr
      • Damian Johnson
      • Rick Carter
    • Agilerad.io
    • Sponsor Network
    • Special Preferences
    • Privacy
  • NOTES
  • Community
  • APP
  • SHOP