Tips, Tricks, and Valuable Information
For some business owners, buying a commercial property is a sound financial decision. Owning the space where the business operates provides flexibility in terms of ensuring the space meets the current and future needs of the business. It can help business owners build equity and removes the risk of rent increases or unexpected lease terminations. …
As we head into the second half of 2017, the Calgary economy is showing signs of recovery and improvement. There are three areas in which current conditions are becoming increasingly favourable for new and veteran local business owners. Diversification With the depression in the oil and gas sector, more entrepreneurs have fast-tracked their entry into…
Staging your business for sale can be time-consuming but also very financially rewarding. A business that is well-prepared in advance of selling is far more likely to attain maximum value and price during the transaction. Staging a business includes a great deal of behind the scenes preparation, in addition to ensuring that the physical, tangible…
Most business owners have a business plan, marketing strategy, and an up to date financial statement. Many business owners do not have one of the most important and most overlooked documents: an exit strategy. A business exit strategy outlines the owner’s succession plan for their business. Examples of different exit strategies include selling, closing, leaving…
Franchise ownership can be an excellent business model for new and experienced entrepreneurs. Misconceptions and misinformation about owning a franchise often stops business owners from further exploring this viable option. Here are five benefits of owning and operating a franchise in Western Canada. Brand recognition and marketing support It can take years for a new…
The market in western Canada is flooded with businesses for sale. Many of these businesses will never sell for one simple reason: they are overpriced. Pricing a business can be one of the most challenging aspects of the selling process. Many Sellers overvalue their business and set an asking price that is too high. An…
To help ensure the long-term success of a business, it is important to keep growing the business. A static business plan that fails to adjust to trends or market conditions will result in a business that lacks resiliency and longevity. There are 7 steps that business owners can take to help keep their business growing….
Most business owners are aware of the three most common financing options: personal assets, investors, and bank lending. In addition to these types of financing, there are a few more that can be helpful when purchasing or growing a business. Business owners are sometimes able to access financing from provincial and federal governments. This financing…
I recently attended the annual fall conference hosted by the International Business Brokers Association (IBBA). Prior to attending the conference, I had spent a great deal of time debating the merits of this event. It wasn’t long after I arrived at the conference that I realized this investment of time would be immeasurable to the…
Business owners know that they need to monitor their income and expenses. Many business owners learn how to monitor more detailed aspects of their finances through trial and error. This can be a costly and time-consuming learning experience. While a trusted financial advisor can be helpful in keeping business finances on track, it is important…