selling a business
Canadian small businesses have faced many challenges over the past few years and businesses for sale were no exception. Even those in thriving areas, like quick-service restaurants and online retailers, felt the effects of pressures on small businesses when trying to sell. Specifically, owners learned first-hand that banks were reluctant to provide financing to potential…
Goodwill is one factor that contributes to the overall value of your business. It is considered an intangible asset which means you can’t touch it, like a product or piece of equipment. Even though it is intangible, goodwill impacts the selling price of a business. Understanding how something intangible has an objective monetary value can…
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…
Earnouts are one way to help a business for sale transaction cross the finish line. This method is most commonly used when a buyer and seller are having difficulty settling on a sale price because they don’t see eye on eye on the growth, performance, and value of the business. A well-structured earnout can help…
Over the past few years, franchising in Canada has increased in popularity and business owners are experiencing the benefits of a franchise business. Across the country, franchises are growing in a variety of sectors, each of which is accessible to new and experienced business owners. Below is an overview of three different franchise areas that…
Some say that you only get one chance to make a good first impression. In business, you get one chance to make a great exit. Your business exit strategy is an important aspect of business ownership. If your business experiences a summer slowdown, now is the perfect time to start putting together an exit strategy. …
There are many challenges and hurdles to overcome when selling a business. But what happens when one of those challenges is a shortage of qualified buyers? This is a reality that is affecting many business owners and it is a trend expected to continue. Many business owners are on the cusp of retirement and getting…
Business owners are extremely business savvy but that doesn’t mean they should try to sell their own business. Many assume they are the best person to market their business because they know it inside out. This couldn’t be further from the truth. In order to sell a business successfully, business owners should assemble a qualified…
There are countless resources available that help small business owners start and grow their business. There are a few resources that give some tips and advice on how owners can sell their business but these are scarce and not usually comprehensive. In fact, it is that lack of resources that prompted me down the path…
As the City of Calgary entered 2018, experts said that the local economy was on the rebound but that there would still be tough times ahead. Small business owners were impacted by various factors such as higher property taxes, increased payroll costs, and escalated cost of goods. While the oil and gas industry continued to…
Owning a home is a keystone of wealth… both financial affluence and emotional security.