No Set Asking Price
Posted on June 4th, 2020
You want to know you’re getting fair market value for your business. The best way to do that is to create a structured transaction process.
You want to know you’re getting fair market value for your business. The best way to do that is to create a structured transaction process.
Recently we have been getting a lot of questions asking if now is a good time to sell or buy a business and how would the business value be affected due to the coronavirus. A lot of businesses are Thriving during the COVID-19. Buyers will take advantage of the incentives offered by the SBA in addition to the already low-interest rates. We are seeing growth in business in the following industries. Click the Link to Find out more:
KnowHow held a panel on how COVID-19 has affected the acquisition of restoration businesses. We sat down with industry experts Gokul Padamanabhan of Restoration Brokers of America and Scott Bushkie of Cornerstone Business Services who unpacked the common mistakes they see among businesses who sell, and the impact COVID-19 is having.
Highlights from the Cornerstone State of M&A Market 2020
The market doesn’t like uncertainty. Certain buyers are retreating into wait and see mode, waiting to see how long the lockdowns will stay in place, how supply-demand issues will shake out, and whether we’ll hit a full-blown recession. But opportunities happen when others retreat. That’s why the coronavirus pandemic could be the best opportunity we’ve seen to buy a business in the last five years.
As business owners are working to process the impact of COVID-19, we’re looking at how it will affect M&A. In the short term, some companies will slow the pace of acquisitions. That’s natural in uncertain times.
6 Common Mistakes a Business Owner Makes When Selling Their Business - Scott Bushkie, State of M&A
Ideally, you’ll start preparing for sale early in your business lifecycle. The more you know about what buyers want, and what you can expect from the market, the more options you’ll have to exit your business.
Business owners looking to sell their business, or attract an investment partner, may want to add family offices to their outreach strategy. These private family firms, established by high net worth families to manage their wealth, can offer unique advantages.
Marketers will sometimes talk about the four p’s (product, placement, price, promotion) of selling. Known as the “marketing mix,” the emphasis a company puts in each area can have a direct impact on sales and profits.