Big Chains Out, Small Business In!

Seller’s preparation makes smooth due diligence

SBA announces faster access to retirement funds for business purchases

Understanding the seller’s true Net income A deeper understanding of which seller expenses can be added back to the bottom line realistically. The prospective buyer of an auto repair shop for sale in California noticed, while conducting Due Diligence noticed that an office assistant was listed on the payroll. But he'd visited the business as a customer and had never seen anyone working in the office. When inquiring about this, he learned that a "salary" of $1,500 per month was being paid to the seller's sister-in-law, and that she was listed as an office assistant, but didn't actually work at the company. That's an "add-back" and it should be included with net income the seller said.

Looking at your business through the eyes of the Buyer Ideas to de-personalize your business and make it more desirable to Buyers. Many sellers feel that their business should reflect their own personal touch and in some ways that may be good HOWEVER not when you are selling your business. There are many sellers who over “customize” their business making it too much about them as business owners for a buyer to see themselves in the business. Buyers often have concern that the business is dependent on the seller and when you are trying to sell your business this will work against you.

Ideas to keep your brain active after retirement Why Life does not end with Job Retirement As business brokers for over 24 years, we hear time and time again people wanting to retire from their corporate jobs and take on a new lease in life with business ownership. We’ve proudly been part of these life changing events and are here to help you find the perfect “next chapter business”. After spending years working in a job, the day for retirement finally comes. Great! Many doctors believe that a person who stops using their brain power is a great candidate for Alzheimer’s disease. The solution is very simple. The retiree should take up a hobby that requires brain power or consider owing a business. Many of the people who contact our offices are retirees who are still young and active and want to control their future. Today, very luckily, we are living in a world where age 65 is still considered young. The life expectancy of a male in 1958 was considered to be 72. Today according to the Uniform Life Expectancy Table 2013 a 70 year old man has a life expectancy of an additional 27 years. What does this mean? It means that it is never too late to become self-employed by owning your own business. This can give you the opportunity to look forward to enjoying your post job retirement in a new career where you dictate your success. First Choice Business Brokers has a large selection of many businesses for sale and one of these just might fit your needs.

Information on the process of selling a business during a divorce from an expert.

Cutting costs by reviewing expenses can help you through these tough times. We all know that every dollar counts especially during this crisis. While some business owners are applying for PPP loans savvy business owners are also evaluating where every $ is spent. Now is a great time to examine all your business expenses. One of those expenses is your credit card processing rates and fees. Now more than ever, every business owner is taking credit cards as their main form of payment for touch-less, non-contact service. We found a credit card processing bank that is offering free reviews of credit card processing rates and fees. If they can't beat your current rates and fees, they will pay you $1,000*. Who couldn't use an extra $1,000 right now? U.S. Bank Payment Solutions says they are confident that they can beat most rates because they are a direct servicer, no middleman to pay. We also found they don't even require you to have a bank account with their bank. Some other expenses to consider reviewing are insurance premiums, security services and payroll services. Many business service providers are offering some of their regularly priced services at no cost or deeply discounted, you just need to ask. First Choice Business Brokers is helping business owners arrange for their credit card processing rate and fee reviews at no cost. We want to help you save every $ you can! *Meet or Beat terms and conditions may apply.