40 Years of business buying & selling experience. How can I help you?
Business Buying Due Diligence Service
Each day somewhere in Alberta & Saskatchewan, families decide to purchase a business with aspirations of providing a better lifestyle and a secure financial future. Many do this with little or outside unbiased business buying help, only to find once they take possession of a business that there were many questions missed, plus hidden challenges and costs awaiting them. In many cases, this causes future financial and emotional stress.
I know this scenario too well simply because I have been approached by hundreds of business owners who had purchased a business but had little or no business buying experience help during the due diligence process. Unfortunately, these business owners are now faced with trying to sell a business that has lost much of its value and has personal financial commitments attached.
How can The Affordable Business Partner help?
I work with business buyers providing unbiased opinions on the overall health of the business throughout the due diligence process utilizing the knowledge that I have gained throughout my 40 year career of buying, selling, and businesses building experiences.
I move business buyers through a step by step process, searching for hidden costs and problems that may be associated with a business they are interested in purchasing.
I help business buying clients make smart informed decisions that may be useful in helping to renegotiate terms and conditions of the sale or result in not purchasing the business at all.
Each day I am contacted by clients who require help in finding a business that fits their buying criteria. I do offer a business sourcing service, that helps clients find a business that fits their buying criteria.
This personalized service was designed for private buyers who have financials resources in hand and have established a focused business buying criteria.
Each day business owners across Alberta & Saskatchewan decide to sell their business. Some are selling because it is time to retire, others need a change, while others may be having health concerns.
Regardless of the reasoning the fundamentals of selling a business are simple. Unfortunately finding a buyer is not and one of the reasons why only 1 out of 5 businesses that enter the business selling marketplace sell.
Though there are many “buyers” that inquire about businesses, stats show that only 3-5% of all inquiries relating to a business for sale ad, are from qualified buyers.
Why is the rate of success in selling a business so low?
Business owners and business sellers tend to rush businesses to market in hoping of finding a buyer. In the majority of cases the results are usually disappointing.
Poor curb appeal, miscommunication of the business’s financial history, seller’s motivation, improper valuations and the misunderstanding a buyers interest are a few of the reasons why businesses end up in the “did not sell pile”.
Selling a business has many moving parts. Buyers are risking a sizable part of their present and future net worth on whether they can be as successful as the business’s owner. Business ownership is based on performance not market values.
Smart business owners who understand this fear and properly present their businesses are on the right path in increasing their chances of becoming unemployed.
People in general want information directly from the source, and business buyers are no different.
Buyers want their questions and information regarding a business from who knows best, the owner of the business.
90% of all businesses sold are sold by business owners themselves.
Costs are another factor on why most business owners choose to sell their businesses themselves. By not having to pay commissions associated with using a business seller, business owners can afford to lower the asking price of their business thus making their businesses opportunity not only more attractive to buyers but also more financeable as well.
Connection. Buyers of businesses want assurances that they can follow in the current owners’ footsteps. By working together early during the due diligence process, business owners can create a personal connection with buyers to help build confidence in the business and the future relationship of both parties. The end goal is for both parties to benefit.
After 40 years of being involved of the sale and purchase of hundreds of businesses, I have learned a great deal in the thinking process that goes behind a buyer’s motivation to buy a business. Obviously, the businesses financials are important but not always the main reason behind a successful sale. Expansion, client lists, location, staff, product lines, transition and scalability are also key factors behind a buyer’s motivation to buy a business.
Since every business owner has a different level of business selling experience, I generally like to start off our first meeting learning about the history of the business, the owners and operations, answering business selling questions and if by working together we can achieve not only the goal of presenting an attractive business opportunity but also in finding a successor to your business.
A big concern I constantly hear from business sellers is having staff, customers and competitors learning that their business is for sale.
The marketing platforms and buyer vetting processes that I have developed helps to ensure the identity of the business remains confidential.
The Affordable Business Partner.
Connecting Alberta & Saskatchewan Business Owners with Qualified Buyers.
I offer Business For Sale by Owner know-how, Buyer's Due Diligence, and Province-wide Marketing Services.
The Affordable Business Partner is a private consulting & marketing company. We neither warranty nor make any representations as to the outcome of a business sale or business investments. The Affordable Business Partner is a division of First Step Business & Franchise Consulting Inc. All Rights Reserved.
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