business
One of the first things I always tell business owners who are getting ready to sell is that the process typically takes more than 6 months. What I never had to talk about before March 2020 was the impact a global pandemic will have when selling a business. Background In summer 2019, I began working…
Even the best businesses can struggle when it comes time to sell. There are three common mistakes many business owners make that can prevent their business from selling. Understanding and avoiding these mistakes will help make your business for sale transaction much more successful. Underestimating how long it takes to sell a business Many business…
There are a few key indicators that separate good businesses from great businesses. A great business will exceed in one or more high-performance indicators and this helps them to grow more quickly, successfully, and sustainably when compared to others in their industry. Building a high performing business can help it to be more profitable and…
Purchasing a motel can be an excellent business venture for individuals or a group of investors. The accommodation industry in Canada, including the western provinces, provides owners with a flexible business that can be grown, diversified, and adjusted relatively easily in response to changing market conditions. Below are five reasons that motels are a viable…
There are many moving parts when it comes to selling a business. One of the most time consuming and frustrating aspects of selling is finding the right buyer. When business owners try to sell their business independently, the buyer qualification process often takes up an unreasonable amount of time and rarely results in a qualified…
For many Canadian business owners, a franchise opportunity can be a viable way to build a business empire. Franchises offer owners the opportunity to step into a business that has a proven business concept and a framework in place. With branding, policies, and procedures already established, a franchise allows owners more time to work on…
Buying a business in Western Canada is a significant investment but it doesn’t have to be hard, scary, or overwhelming. Qualified business brokers can help you choose the best small business for your budget, goals, and lifestyle. Here are 4 tips to help you buy a business in Western Canada. Decide if you want to…
Many family-owned businesses assume they already have a succession plan in place since ownership is typically passed along to relatives. That assumption simply isn’t good enough. In fact, a well-considered and documented succession plan is critical for family-owned businesses. A succession plan helps the eventual transfer of ownership to go smoothly and offers additional benefits…
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…
Owning a home is a keystone of wealth… both financial affluence and emotional security.