Business Brokerage, Buying and selling Dreams

Well its here, now what do we do?

Its now been officially named a recession by the people who know. well they say they do

So what does that mean for us as small business owners?

It means life as we know it has changed. we need to watch what we do and how we do it. The consumers are cutting back on everything. If you want to keep your market share you will now more than ever need to earn it.

The first thing that most people think is stop spending money. Save what you have and ride out the storm. Well that sounds smart. But consider this. If people don't know you still exist, are they going to use your services? Doubt it

Yes we all need to save money and spend wisely.

Advertising still needs to be done. Focus on the areas that contact your clients the best and use that method. Check with local chambers, papers and schools, see if they need editorials or articles. This can be a win win situation. get exposure and help out another business with filling their qoutas on articles. Advertising doenst have to be expensive. Get involved in the chamber, the local groups and your church. Network and let people know you are still here.

The economy is rough, businesses are selling at much lower prices than they have been in years. the buyers are very leary of everything now. what they are looking for is cashflow.

if you have positive, provable cashflow you are a business that will attract prospects.

The days of 2, 3 and 4 times owner benifit are over for now. Educated buyers with cash are paying 1 to 1.3X for a business.

If now is the time to sell, be realistic, ste the price in the range to sell. Offer seller financing and set the time line acordingly.

We can all make changes in our businesses that will help us through this time. Take a hard look at your business, see what you can modify. Just make sure its not something that makes your business what it is.

Edward J Kane

VR Business Brokers Senior Intermediary

407 247 6938

ekane@vrbizforsale.com