Selling a Business

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Buying a Business

Whether you are a first time buyer or an experienced business owner looking for a new opportunity, ProClient Brokers can help you find the business that is right for you. Learn more

Valuing a Business

Do you know what your business is worth? Whether you are a buyer or an owner, a business is your largest asset. Let us assist you finding fair market value of your company. Learn more

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Jul
26

Questions When Selling Your Business

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Are you planning of selling your business? You need to ensure that everything is in place for you to sell the business at the right price. To help you out here are some of the questions that you should ask yourself as a business seller. When selling your business:

  • What Are The Things That A Buyer Will Look For In My Business?

There are many things that a buyer will look for when buying your business. Some of these things include: product lines, management structure, compatibility of operations, and customer and market base.

The buyer will also review your financial condition which includes: tax returns, payroll records, financial statements and depreciation schedules. If there are any employees in the business the buyer will like to know about their employment contracts.

  • How Do I Determine The Value Of My Business?

It’s easy to determine the value of your business, if you plan to sell it. All you need to do is to hire a business broker/ certified business intermediary to do the valuation for you. The intermediary will consider a number of factors in order to come up with the value of your business. Some of these factors include: assets, cash flow, market share, customer base, and financial history.

  • When Is The Right Time To Sell My Business?

The right time to sell your business is when everything is in place. You should wait until your business is viable and you can predict that it’s going to have an exponential growth. You should also wait until you have prepared all the necessary documents and you have a professional exit strategy.

You should never sell your business when you are desperate. For example, you shouldn’t sell your business when you have a pressing loan that you need to settle. This will not only give you stress, it will also result to you selling the business at a very low price.

  • Should I Tell My Employees That I’m Selling The Business?

You shouldn’t tell your employees about it. This is to avoid the repercussions that come with telling them. Some of the repercussions include: key employees looking for work elsewhere, competitors bad-mouthing you, vendors shortening terms and banks calling in notes.

You should maintain confidentiality and only let the employees know about it only after you have completed the selling process and the new owner is ready to start operations.

Conclusion

These are some of the questions that you should ask yourself when selling your business. To complete the selling process flawlessly you should consider working closely with a professional advisor.

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Jul
26

Questions When Buying a Business

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>> Questions To Ask When Buying A Business

Buying a business is always a very important milestone in the life of any entrepreneur. To be successful when buying the business you need to ask yourself a number of questions. Some of these questions include:

Why Is The Seller Selling The Business?

There are many reasons that can provoke the seller to sell his/her business. These reasons include: relocating, changing business or the seller getting bored with the business. Before you buy a business always do some background checks and try to identify the reasons why the seller is selling it. One of the most effective ways of finding out is asking the seller why he/she is selling the business.

How Relevant Is The Business?

Why should you buy an irrelevant business? Before you part with your money you need to do your research and find out how relevant your business will be in your area. This calls for you to find out the state of the industry that the business is operating. Here you need to find out whether the industry is growing, mature or in a decline.

You should also find out the nature of the target market. Here you need to find out if the market is growing or shrinking.

Competitors are of great importance in business. If there are large competitors in your industry, they will most likely crush you.

What Is The State Of The Employees?

You need to find out the kind of staff that the business has. Here you need to find out whether the employees have the necessary skills to take your business to the next level. You should pay close attention to the most important employees such as managers and supervisors. You should review their employment contracts and ensure that they are in line with the vision that you have for the company.

Is The Asking Price Given By The Seller Worth It?

Sellers usually base their asking prices on the values given by their valuation companies. You should always ask the seller how he/she arrived at the asking price. Before you part with any money it’s wise that you hire a company to help you in valuing the business that you want to buy. As rule of thumb you should never buy a business at a price that is higher than its value.

Conclusion

These are some of the questions that you should ask yourself when buying a business. As mentioned you should be cautious and ensure that you don’t buy a business at a price that is above its value.

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Jul
26

Franchising

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When a company entitles an individual to sell that company’s products and services for a particular amount, it is called franchising. There are various factors that decide the success and failure of a franchise and its franchisee (an individual who owns a franchise). It is not just about taking a brand to the people but also about doing it the right way. Therefore, it is essential to know everything about franchising before taking a plunge into the venture.

Before taking up a franchise, there are certain franchising facts you need to be familiar with. More about Basics of franchising:

HERE ARE THE TOP 4 FACTS YOU MUST KNOW ABOUT FRANCHISING.

  • What is franchising?

Franchising can be defined as the process of transferring the rights to sell a company’s products or services to any person and gain a share in profits or charge a particular fee in return. However, this not only requires a willing individual, but also a place to set up a franchise, and initial investment regarding the location, buying products and services and other expenses.

  • Why franchise?

Taking up a franchise might prove to be simpler than starting a business from the scratch. As the product being sold at the franchise will have a market, an established brand and already existing customers to begin with. Starting a business brings in more risks than owning a franchise, as starting problems would be already taken care of by the business owner.

Unlike your own business, a franchise comes with many advantages such as supporting the franchise in its daily functions, accounts, publicity and training.

  • A few shortcomings of franchising

Franchising is not a quick deal. It is also not as rosy as it seems. It is not just about partnering with a well-known brand and selling its products and services. You need to do a thorough research about the company you are associating with, its people, its goals, and its repute in the market before investing money.

As a franchise holder you don’t have complete freedom to run the franchise the way you want. You have to abide by the rules laid down by the owner. This can sometimes create tiff between you and the business owner or the representative. Therefore, it is always to clear where you stand before signing the contract.

  • How does the franchisor select the franchisee?

There are certain characters that the franchisor wants in a franchisee.  Somebody with strong leadership qualities, passion for the business that the company deals in, the required passion to deal with the products and services, the knack to handle customers, someone with good experience and who can contribute to the already successful business.

Learn more via plenty of articles and other information online. Then decide if you think a franchise might be the way to go for you.

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Jun
11

Tips For Buying A Business That Fits Your Situation

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Tips For Buying A Business That Fits Your Situation

It’s very risky to start a business. Research studies have shown that up to 99% of start-ups fail within two years of start. The good thing is that you can lower the risk by buying an already established business.

In addition to lowering the risk of starting a business, buying an established business ensures that you start earning immediately you make the purchase-you don’t have to wait as its common with new businesses. You also tend to have a shorter learning curve as by the time you are buying the business you will have employees who are ready to work for you.

How to Buy A Business That Fits You

Although, buying an established business is better than starting a new business from scratch, you shouldn’t buy just any business-you should buy a business that is ideal for you. Here you need to assess your skills, interests and financial resources. As rule of thumb you should buy a business that you are knowledgeable about. For example, if you have been in the medical field you should go for a business that is related to the medical field.

You should also go for a business that you enjoy. Remember that for your business to be a success you need to put in a lot of hours and it will be almost impossible for you to work for long hours in an industry that you don’t enjoy.

How to Buy A Business

You can’t wake up one day and decide to buy a business-you need to first do your research over a period of time. You should start by defining the business that you are interested in. To make the decision you need to assess your professional skills, business experience and core competencies. You should also assess your financial abilities.

If you have done your research and found an ideal business, you should make an offer. The offer of the purchase should include the price to be paid to buy the business, training to be provided to you, assets in the business, financing details to be provided by the seller and the area to be covered by the non-compete agreement.

After you have reached an agreement with the seller you should put the agreement into writing. As rule of thumb you should ensure that a business attorney is with you in order to make the agreement legal.

Conclusion

These are the tips on how to buy a business that fits your situation. Remember that buying a business is expensive; therefore, you should ensure that you do thorough research and buy the right business.

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Jun
09

Ways Of Adding Value To Your Business

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>> 4 Ways Of Adding Value To Your Business For Sale

Are you planning of selling your business? For you to sell the business at a higher price you need to increase its value. To help you out here are some of the ways in which you can increase the value of your business:

1. Increase Profit and Cash Flow

It’s common for business buyers to want to secure business loans using the businesses that they have bought. This means that if your business isn’t profitable enough or the cash flow isn’t adequate, no buyer will be interested in it.

To make your business more attractive you should hire a knowledgeable person from outside to balance your books of accounts and identify any mishaps that might be there. Great people that you should hire are those that have CFO or CPA qualifications.

2. Maintain the Key Employees into the Business

Skilled and highly experienced employees are of great value to a business. To make your business valuable you should ensure that all the key employees of the business are comfortable and ready to continue working for the company even after your exit.

The key employees include managers and supervisors. One of the most effective ways of ensuring that these employees don’t exit is to give them great packages and productive working environment.

3. Renovate the Business Premises

Although, your business can seem very attractive on paper, a potential buyer might shy away from buying it if the premises aren’t pleasing to look at. The best way of going about it is renovating the premises. This calls for you to paint the premises with attractive colors. You should also replace the floor. When it comes to furniture, you should make new purchases.

4. Create Systems

There is no one who likes doing the hard work; therefore, you should create systems that ensure that the business can run itself even when you are not around. The best way of going about it is regularly taking breaks from the business and see if the people entrusted with given areas are able to execute everything without any problems.

A business that can run itself is very attractive to buyers as they are sure that they don’t need to spend all of their time there in order to make things happen.

Conclusion

These are some of the things that you can do to make your business more attractive to potential buyers. Remember that you can’t increase the value of your business overnight-you need to put in your time and energy over a period of time.

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Jun
09

Tips On How To Prepare Your Business For Sale

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For you to sell your business seamlessly, it’s important that you prepare the business for sale. To guide you, here are some of the things that you need to do in order to prepare your business:

  • Exit the Business

You need to ensure that the business can run even in your absence. The best way of ensuring this is setting systems that ensure that your business is able to run on autopilot. This calls for you to clearly document the roles of each employee. You should also document what every employee needs to achieve within a given time.

When pitching your business to potential buyers you should clearly show that the business has the ability of running in your absence. Remember that no buyer is willing to buy a business that requires full time attention. Also, no buyer will buy a business that will stop working once you leave.

  • Document Relationships

Do you have any unwritten agreements with your suppliers and clients? You should put them in writing. In addition to making your business appear stronger, writing down the agreements makes them binding and can’t be broken. If there are any contracts that you had signed before you should check them and ensure that they are up to date. You should also renegotiate any contracts that you deem necessary.

  • Do a makeover

Just like when selling anything, you need to create a good first impression of your business. The good thing is that there are many ways in which you can give your business a great impression. Some of these ways include:

Inventory

you should sell all the obsolete or slow moving stock items. In addition to improving the sale figures, selling the obsolete items will also aid in eliminating any disputes about the value of the inventory during the sale.

Business premises

you should look at the business in the eyes of the potential buyer. For a great impression, you should clean it up, maintain and paint the necessary areas. As rule of thumb you should ensure that your premises comply with all the regulatory requirements.

Employees

are there any employees who haven’t taken their leave? You should ask them to do it. This is to prevent the buyer from reducing the buying price.

Leases

it’s common for businesses to lease their premises. You should review the leases and ensure that they are up to date. You should also renegotiate the ones that need to be renegotiated.

 

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May
26

Preparing Your Business For Sale

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Deciding to sell your business is an emotional decision. Once you think about selling then it is time to make the move – assuming all decision makers are on board with this decision. Once you decide that you want to sell then make the move. Once you think about selling then you are already making an emotional move toward selling.

The first area to understand is that books and records are important. A business needs to be able to justify a price through tax returns, equipment values and inventory values. A pure “cash business” with no substantiating data is very difficult to sell. But in these “cash business” situations where the actual cash flow and declared cash flow are different, there are still ways to prove the entire cash flow through a second “book” or receipts.

The second area to understand is that you should keep the business running as is and NEVER tell anyone that you are selling. Any hint or leak that you are selling could be catastrophic to the business and the businesses’ future. Employees and customers are very good at noticing changes that may indicate a business is for sale. This will have a devastating result on the business.

Once the decision has been made to sell, you have to prepare various facets of your business before taking the step toward selling as part of ‘Preparing Your Business for Sale’.

Here is a general list that you need to prepare…

  1. Up to 3 years of tax returns – including P&L statements, if available
  2. Equipment list & value of equipment at replacement cost
  3. Value of inventory at your cost (not retail)
  4. Value of real property (if included in the sale)
  5. Copy of the lease if business is on leased real property

Here is what you DO NOT want to do…

  1. Tell anyone that you are going to sell – confidentiality is of utmost importance
  2. Change the business models or daily operations
  3. Take cash out of the business that will alter subsequent financial statements

Once you have the documentation in place then contact us for a confidential NO OBLIGATION meeting – 416 364 5550

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Nov
27

OK So, Considering Buying A House. Home Buying Tips

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The 411 You Should Know When Buying A House

Having access to proper, thorough information about the real estate market is the only way to ensure your protection as a home buyer. There are few people looking out for you in this business, so the more you know about buying real estate, the better off you’ll be. We’ll go over some of the things you need to know in this article.

For prime real estate pay close attention to the reputation of the schools in the area. Even if you don’t have children, schools that are held in higher esteem usually indicate a better neighborhood. These neighborhoods are typically safer and more affluent, though they do not always cost a fortune to live in.Get The Keys To The House

Be cautious when hiring a home inspector. Get recommendations from friends and family, and it is usually wise to hire your own inspector, even if the seller offers to have it inspected. Do not go with the first inspector you find, call and interview at least three so you can be confident in your choice.

If you want to save money, think about buying a home that needs a lot of repairs. The bad condition of a place makes its value go down significantly, so much that it might be interesting for you to pay for the repairs yourself. And perhaps you can even do part of the work yourself.

Give yourself time to relax whether you are buying property or selling property. Either can be stressful, but it’s important to have at least a few minutes a day when the transfer of a property is not on your mind. You can return to the subject refreshed later, after you’ve had some time to clear your head.

Don’t Be In A Hurry Buying A House

Look at a lot of houses before you buy, even if you love the first property you tour. It can be easy to fall in love with the idea of buying a house and then, consequently, the first property you see. Make sure to tour many other properties for comparison, just to make sure that the house you choose has everything you want or need.

When you are shopping for a new home, determine what features are non-negotiable to you and communicate this to your real estate agent. By doing this you can avoid looking at houses that you have no intention of buying, because they do not have the features you need or want.

When buying a home, do not share the agent, inspector, or appraiser with the Shopping For Your Special Homeseller. There is a great chance that you will find yourself in a better position to buy if you find representatives that are on your team to help you get the best price on a home that is worth buying.

Buying a home that is up for auction is a great way to get a fabulous home for far less than what it is worth. It is a game of sorts that many investors play so it can be difficult for the average home buyer to win the auctions that are held.

Some buyers try to sell and buy properties at the same time, which can have a disastrous effect. Sell your old house before you buy the new one. Trying to coordinate the two sales is very hard, and if it is unsuccessful, you can be stuck with paying two mortgages at the same time. Click Here for more house buying tips

Finding the proper protection as a buyer is as rare as finding a house on today’s market priced like it was in 2004. The truth is that no one’s really looking out for you except for you. That’s why it’s important you use the tips you just read in this article to help you make the right decisions.

Categories : Articles/Tips, Blog
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Sep
01

Home Buying and Selling Service

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Looking To Buy A Home? Looking To Sell Your Home?

We Help In Buying And/ Or Selling Real Estate

Any Problem, Any Situation, We At ProClient Can Help!

We can send you to view Multiple Listing Service (MLS) listings so you can find property listings and compare homes for sale in any Toronto West neighborhood. If you are looking to buy or sell a home, you want all the facts first, and the MLS is the most complete source for home listings. Get access to detailed home information, and more.

Selling Your Home

About ProClient RealtyPotential home sellers can request a free personalized home market evaluation for their homes. They need the expert valuation for pricing their home!

Ask us for ‘FREE Home Evaluation’ and know how much your home is worth when you need home buying and selling service.

Please click the link below to fill out the Seller’s information Form and one of our associates will contact you soon.

Buying a Home for Sale

Buying a HOME will look somewhat overwhelming. However, we will make the entire buying process easier – every step of the way.

You will get access to home listings for homes for sale as well as Power of Sale homes for sale (bank owned homes). ProClient Agent will be able to help you find the right home at the right price and can help you find your ideal home.

For buying your dream home or investment property, check the following:

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Feb
23

Goals for a Real Estate Agent – Goal Setting and Success in the Real Estate Field

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goals for a real estate agentGoals for a Real Estate Agent

In today’s real estate market, you have to contend with cutthroat competition. In every big city, there are always 1000’s upon 1000’s of agents jostling for business. It is not all these individuals that succeed.  If you want to be among those that are considered to be a success, you will need to put on your thinking cap and move outside the box.

Here are some goals that a real estate agent can use and succeed:

  • Get a Great Office Location

If you are looking for office space, go for a high traffic area. You can never go wrong. It is always accessible for repeat clients and easy for prospects looking to find you. Ensure that it stands out when compared to your competitors and that there is adequate parking space for your clients. Consider how much it will cost you. There is really no point in staying in a place that is beyond your reach just because you are trying to maintain an image. You will most likely be struggling with rent all the time rather than looking for business or customers. It is great if you can get your hands on an office location in a high traffic area. But try to pinpoint your budget before you decide on the location of your business.

  • Own a Website

The Internet remains one of the greatest inventions of the modern world. Every 1 in 6 people in the developed world have access to a computer and an Internet connection. These people mainly hop online for research and to buy stuff online. If you are a real estate agent and do not own a website online, you are losing a lot of money.

Owning a real estate website removes the stress of picking up the phone and trying to sell to people who do not know you. If you continue to use these types of ancient marketing techniques, you will end up at the bottom of the pack. Design a site that is distinct or unique. The navigation should be straightforward. People do not want to weave through web pages looking for basic information. Ensure that pictures of properties on the market are strategically placed on the home page.

In addition, work on your web content. It is important that you write for the search engines. Use appropriate keywords and have a blog or forum where a constant stream of content can be provided and people can interact. There is really no point throwing yourself in different directions, show your expertise in a particular area and stick to it. You can offer area histories, moving information and other necessities.

  • Learn to Negotiate

If you are an agent you need to understand the importance of improving your people skills and the art of negotiating. This is what helps you sell to a reluctant buyer or convince a stingy seller that you should handle the sale of his property. Moreover, real estate investors love to hire powerful negotiators. Nobody loves to catch the short end of a stick and lose out on a money-spinning deal. If you are falling short in this department, go for public speaking and negotiation courses. You have to improve your social skills or you would be simply blown out of the water by your competition.

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Who We Are?

At ProClient Brokers, we pride ourselves on being able to provide brokerage, franchise sales, business sales, and real estate services to our valued clients assisting in sale and acquisition of properties in Toronto Area, Ontario and beyond. As brokers, we understand what makes a good deal in a transaction.
Our due diligence, extensive and thorough research about properties are what set us apart from other companies in the industry. CONTACT US for any professional assistance.