When You’re Ready To Sell Your Business

Utilizing a broad spectrum of industry contacts developed over 40 years, Hughes Properties can be counted on to make discreet inquiries into the types of businesses, commercial ventures or land that you are interested in. Many of our listings are from successful business owners ready to fully retire and enjoy everything this area has to offer. Businesses can be professionally valuated to assist you in your decision, giving you a better understanding of your business’ value in the marketplace. Whether you are buying or you’re contemplating selling a business or commercial property, you should speak with the Hughes Properties team to fully research your options.

Top 10 Tips to Buying a Business

By: Bob Hughes, Broker/President, Hughes Properties

10.) Make an offer; Good luck will come in handy here.

9.) Make sure the price of the business allows you a chance to make an income & pay off the note within a reasonable timeframe.

8.) Try to determine if the current employee will stay with the business. A lot of the value of a business has to do with trained employees already in place.

7.) Make sure the lease has some time left. The landlord will let the lease be transferred, especially if there is a established connection with them.

6.) Be prepared for usual tax returns and profit and loss (P&L) statements from an existing small business owner. The owner’s goal has been to keep as much cash as possible. You will have to have your accountant analyze the statements and have the “put backs” in the cash column.

5.) When you look to purchase a business it is imperative for you to have mutual respect between you and the seller. The seller is the most important asset you will have in the transition of the business.

4.) Most banks do not finance a business purchase. You must have funds or find alternating funds. Usually the seller will help finance the purchase, but they usually want additional collateral.

3.) Be aware of location of the business as well as doing your homework on any major changes around your new business.

2.) Find a business you can afford. Keep money for (6) months operating capital. There is always a learning curve when you buy a business. Money/Cash flow is the lifeblood of any business.

1.) Look for a business that matches your personality. A new business should be something you love to do. You will work better when you like what you d