http://www.articletrader.com/ Articles at ArticleTrader en-us http://www.articletrader.com/business/preparing-your-business-for-sale.html http://www.articletrader.com/business/preparing-your-business-for-sale.html Fri, 11 Apr 2008 00:00:00 -0500
The next question you need to ask yourself is are you going to sell your business or are you going to utilize the services of a business broker? Until recently the popular trend when selling a business was to use a business broker who have years of experience when selling businesses, however with the power of the internet many business owners are now selling their own businesses and saving potentially thousands of dollars in agent commissions. Some people do not have the time to deal direct with potential buyers and are more comfortable putting the sale of the business in the hands of a broker.

Determining an accurate and realistic asking price for the business for sale can be tricky, as most business owners tend to over value the business, while most business buyers will under value a business. It is important that you can justify your asking price. Not doing so will almost certainly scare of any potential buyer. Seek professional help from your accountant when you want to value your business. It would be advised to have a professional evaluation completed and ready to present to any potential buyer. This will give the buyer a feeling of trust and help in the sale of any business.

Make sure that you offer any potential buyer your services after the sale for a week or two. Let them know that you intend on showing them exactly how to run and operate the business successfully. Inform the new owner of your competitors and personally introduce the new business owner to your accounts. If you include this in the package of your business for sale, it will be a very attractive inclusion in the sale. This will give any buyer extreme comfort to know that if they purchase the business they will not be thrown into the deep end. It may be just enough to close the deal.

Selling a business is a very emotional and personal experience for any business owner. It is something that should never be rushed, or tried to do quickly. You have built this business to what it is and it would be a shame if you were unprepared for the sale resulting in a lower selling price, or not selling the business at all. Take the time to do all of your home work in regards to selling a business and make maximum returns for your business for sale.

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For more information on selling a business visit http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/communication/web-conference-calling.html http://www.articletrader.com/business/communication/web-conference-calling.html Wed, 02 Apr 2008 00:00:00 -0500
The most significant benefit of web conference calls is that the participants can share their screens with each other for sharing various applications. By this, they are able to use the similar application as the conductor of the conference is using, and are able to transfer files and data through this. There is no extra hardware required to make web conference calls, as it just involves connectivity through Internet, and is simple to operate in using on the computer. Participants of web conference calling are connected via Internet, which enables them to transfer information, files, and conduct discussions.

Conducting a meeting or conference imparts a burden on the business as it involves a lot of expenditures including travel, infrastructure, and hotel, etc. While via web conference calls, all these expenses can be eliminated and a virtual meeting can be conducted without any travel or loss of work. It involves costs even lesser than audio conferencing, as in that case, service provider is generally charging per minute. The web conference calls provide an opportunity to each and every participant to present his or her views, slides, information, etc., while others can listen and see the presentation through their own computers. It is not limited to only one presenter; rather, multiple presenters can participate in the presentation at the same time.

The process is highly quality oriented, as there is no chances of misrepresentation of facts, for, screens are shared through the presentation. The results are very good as participants can see, listen, and share the presentation simultaneously, i.e., it can also be considered equivalent to a meeting or presentation in person. With the help of broadband services, the conference can be conducted without any interruption. Presentations, most commonly using PowerPoint, can be conducted while staying on one’s own place. It is the fastest option for doing so, as the feedback can also be made immediately so that if any change is required, it could be made and the report can be finalized.

We can easily gauge that web conference calling provides the opportunity to do what the business needs in minimal time, involving minimal cost, and engaging minimal of work-force.

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For more conference calling information visit http://www.call-conference-services.com. Web Conference Call for business and private use.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/getting-your-business-noticed.html http://www.articletrader.com/business/getting-your-business-noticed.html Mon, 24 Mar 2008 00:00:00 -0500
Utilizing the services of a business for sale website is the first and most important step you need to take when marketing your business for sale. News paper classifieds can be helpful, however almost 96% of searches for a business for sale starts online. There is at least 2 or 3 quality business for sale website available to use in Australia. Make sure you shop around for the best price available when listing your business with a website. You can expect all of the online enquiries to be contacting you directly, because when you upload your listing you will be required to supply your phone number and email so all enquiries are directed to you. This is perfect because after all, who better to sell your business than you.

Make your business as attractive as possible while maintaining a fair and realistic price. Overpricing the business will scare off any potential buyers. If you can not justify your asking price, the buyer will be suspicious and almost certainly take their business elsewhere.

Making sure all of your outstanding loans, expenses, leases, contract etc are up to date is vital. Not being up to date may slow down the buying process, not to mention the embarrassment.

Here are more important points to consider:

• Always seek legal advise from your solicitor or Lawyer
• Always seek financial advice from your accountant
• If you choose to use a business broker remember they will charge agent fee or broker commissions up to 10%

Selling a business can be a stressful time if you are not prepared. After you and your family have made the decision to sell your business, the next thing to do is make sure you are fully prepared. Making sure you have the basics covered will insure the selling process is a smooth one.

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When selling a business visit http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/buying-a-business-for-the-right-reasons.html http://www.articletrader.com/business/buying-a-business-for-the-right-reasons.html Sun, 16 Mar 2008 00:00:00 -0500
Buying a business purely for the income or cash flow is a bad idea. Ask any entrepreneur what they look for when buying a business and the last thing they will tell you is for a steady income. A business needs to have potential. There are many factors that need to be considered before making your decision on a business to buy, and the income is at the bottom if the list. If the business you are interested in is at it peak, then you will have your work cut out for you when trying to improve the businesses performance.

Utilizing the services of a business broker or agent will ease the pain of finding a business. All you need to do is tell the broker what industry you are interested in along with price range and they will search their databases, saving you time and money. As a business buyer, you are not slugged with any fees, as the seller is the one who pays the agent commission. Business brokers are obviously very experienced in the business buying transactions, which is one less headache for you to worry about. Another very popular option is to visit business for sale website. Most business for sale website have an easy to use search tools, allowing you to search via category, price and location.

The same applies when buying a franchise business. A franchise is more than likely a safer option then buying an actual business. Franchises come with proven business structures in place and are documented as have a 90% success rate. Brokers can explain to you exactly how a franchise purchase would work, and can also assist in arranging finances if necessary.

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Search businesses for sale at http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/owning-a-restaurant-business.html http://www.articletrader.com/business/owning-a-restaurant-business.html Wed, 12 Mar 2008 00:00:00 -0500
In saying this, running a restaurant is a very time consuming profession. Depending on the style of restaurant and quality, your daily routine would start by visiting the fruit and vegetable markets to purchase your vegetables for the night of trade ahead. This would be followed by a visit to the fish markets and then your red meat supplier. It is very important that you keep on top of your stock rotation and never purchase too much food, incase it passes it’s used by date before you get a chance to use it. Throwing away unused food will cost you money, and serving out of date product will cost you money in court cases.

Usually a restaurant with a big menu will always have huge amounts of wasted food at the end of the week. A great way to minimize this problem is to keep your menu simple. Having a simplified menu which does not include 50 dishes to choose from will eliminate any chance of wasted food product, ultimately costing you money.

It is always a great idea to incorporate into your menu a signature dish. For example, if you own a restaurant in Sydney Australia, why not create a salad called ‘The Sydney Salad’? Be creative with your invention, make this salad your own. This technique really works, and people will remember the creativity of your menu. After all, this is how the world famous Caesar Salad was invented. You don’t have to make your signature dish a salad. It can be any meal you choose. Just remember to make it your own.

After you have perfected the menu, the next most important aspect of running a restaurant is customer service. Your waiters are the face of the restaurant and need to be experienced in dealing with hungry customers. They need to know how to handle the customer in every situation including product quality issues and when the food is late on arrival. If your kitchen is up to scratch, then these issue will be minimal, but there will always be a difficult customer every now and then.

Your staff should also know how to sell. They need to know how to push a dish. For example, sometimes a restaurant owner will advertise a specials board. This is when a waiter should be explaining to customers what the specials are, how they are made and why they should buy them. Sometimes offering an incentive to your waiters is a great motivational tool. Create a board including all the dishes you want them to sell. The first waiter to sell one of each will win the prize of cash, time off, etc.

Unless you have experience in the food and restaurant industry, you really should seek advice from someone who is experienced in this field for some pointers on running a restaurant.

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Search for a Restaurant business for sale at http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/buying-an-existing-restaurant-for-sale.html http://www.articletrader.com/business/buying-an-existing-restaurant-for-sale.html Sat, 08 Mar 2008 00:00:00 -0600
Buying an established restaurant business for sale would be the much safer option of the two. One of the major benefits would be the fact that the restaurant would have regular clientele. Operating a restaurant that already has customers and is known in the local community, saves you a lot of work compared to a restaurant that has no clientele due the fact that it is a brand new business.

Another reason that buying an already established restaurant business for sale is a safer alternative, is the fact that they already have staff in place that are familiar with the way the business is run. Staff that knows the business and the menu is highly important to any restaurant and can be hard to find. Having to employ new staff for a new restaurant venture is a time consuming process. Not only is it time consuming, but if you try to rush through this process, it could end up costing you thousands. Hiring inexperienced waiters can scare off a customer and with the power of ‘the word of mouth’ advertising, people could soon be turning their noses up at your restaurant.

An existing restaurant usually has all of the marketing and advertising campaigns down pat. By this, I mean that they would have experimented with different forms of advertising, and through trial and error they would have narrowed it down and worked out which avenues of advertising are most effective for the restaurant. This can be quite an expensive exercise.

Starting a new restaurant from scratch always carries more risk. With the right advertising you can attract people who like to try new things, but unless your service, menu and more importantly your food leaves a lasting impression, it will be hard to get those customers back.

Creating a menu that reflects your restaurant is vital. Make sure your menu is not complicated. Giving your customers a menu which has too many dishes to choose from will make your chefs life hell. It also requires you to keep a lot of stock on hand, which increases your overheads. These ingredients are at risk of going out of date because of the big selection on your menu, ultimate costing you money. Keep it simple and reap the rewards.

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Search Restaurants for sale at http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/what-to-look-for-in-a-pub-for-sale.html http://www.articletrader.com/business/what-to-look-for-in-a-pub-for-sale.html Mon, 25 Feb 2008 00:00:00 -0600
Unlike normal business insurances, pub or club insurances are specifically created to cater for the risks involved with such venues. Dealing with the public and serving alcoholic beverages creates an immediate risk factor, which will be reflected in your insurance policy.

An insurance policy for your pub will usually include Employer liability, public liability, contents insurance, theft of property and cash, personal assaults, loss of alcohol license. This is critical for your business to succeed. Try to comply with your particular alcoholic license regulations and avoid penalties including a loss of license. Keeping your license is vital to the success of your business. A pub is worthless if they lose the right to serve alcoholic beverages. As silly as these sounds, it has happened. A correct insurance policy in place will soften the blow if this happens to your pub.
When you have found a pub for sale that you are interested in, make sure the current insurance policy is up to scratch and if not, then you need to make sure you update it ASAP.

A basic insurance policy should include cover on the pub kitchen, function room facilities, accommodation, children’s play areas, etc. All of these have a high risk involved and will definitely affect your policy.

Due to the nature of your business, accidental property damage and personal damage is hard to avoid. Being covered for all property including stock is critical.

There are additional coverage’s that can be added to any policy such as computer breakdowns, weather (such as floods, etc) and any other custom insurance policy.

Once you have found a pub for sale that you feel is the right pub for you, it is time to make the next move, which is to ask the current owner to see the existing insurance policy. This could determine the asking price of the business, and if the policy does not cover certain aspects of running a pub, then you need to ask questions.

Seeking the advice and help from a professional insurance broker is a good start. Always get a few quotes and compare prices and inclusions. This will see you get the best policy and price available.
It would be safe to say that you would not drive a motor vehicle without insurance, so whatever you do, always make sure you have the best business insurance for your business.

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Search pubs for sale at http://www.business-trader.com.au - Australian business for sale Classifieds.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/preparing-a-business-for-sale.html http://www.articletrader.com/business/preparing-a-business-for-sale.html Sat, 16 Feb 2008 00:00:00 -0600
The bigger your business or company, the more likely it is that you are anal when it comes to keeping all business account information up to date. A smaller business is usually not as organized as the major corporate companies. So it is essential that all business owners no matter how big your company is, keeps all book work up to date allowing potential buyers to see exactly how your operations are conducted. Arrange your accountant to prepare profit and loss statements in additions to your own book work. Revise all of your business book work and refresh your memory, preparing you for any questions the potential buyer has in relation to expenses and purchases. Being able to answer all questions they have without hesitation show your professionalism and knowledge of your own business.

Most businesses will have a percentage of their business sales unrecorded because they are cash sales. No matter how big or small you should always disclose this information to a buyer, as it may justify the price you are asking for the business.

Implementing a sales or management team into the business from day one will look more inviting to a potential buyer. Demonstrating that all business sales came from a team environment and knowing that the success of the business did not come from one person (the owner) is an important factor. A sales or management team will prove that the success of the business will continue after the business transaction. If the potential buyer knows that the businesses success came from the existing owner’s rapport with customers that was built over the years, his technical skills or general knowledge of the business may deter him from the acquisition. Establish the business so it is not critical that you are essential to the success of the business.

Offering finance is a good way to achieve maximum profit for the sale of the business. Not only does it give the buyer an additional option for financing the acquisition, it also shows the buyer your confidence in the businesses continued success once you have sold the business.

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This Business for Sale article was produced for http://www.business-trader.com.au - Businesses for Sale Australia.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/dont-lose-money-when-selling-a-business.html http://www.articletrader.com/business/dont-lose-money-when-selling-a-business.html Mon, 11 Feb 2008 00:00:00 -0600
The thought of walking away from your very own business is a difficult one, however the anticipated financial rewards often out ways the thought of selling the business. Including an exit strategy in your business plan will eliminate any emotions involved when you actually sell the business. This is a very common strategic move incorporated into business plans by entrepreneurs.

Most entrepreneurs start thinking about the sale of their business the day they buy the business. Doing this will help you make smarter management decisions for the business, as apposed to emotional decisions which are usually made for the wrong reasons resulting in financial losses. Making the business profitable and attractive as possible from the first day of trading under your management is your number one priority. To ensure maximum profit when you do sell the business, it is essential to plan an exit strategy from the start.

So when should I put my business for sale on the market? When your business is making huge profits, when everything is running smoothly, when your business is in its prime, it is now that you should sell your business. This makes perfect sense. A good analogy is when you sell a race horse. A race horse will get the best price possible when it is at its peak and winning races. The same applies for a business.

Having a proper business plan in place will enable you to determine when your business is doing well, telling you when your business is ready to sell. Once you have reach your goals, make an executive decision and sell. Changing your business plan (goals) once you have hit your targets will put your business at risk. Don’t get greedy and sell once you reach your targets. It should come as no surprise when your business is doing well.

As you develop your business and head towards a future sale, there are vital steps that need to be taken along the way, helping you achieve maximum a smooth sale and maximum profits. The first and most important thing to do is to keep up to date business records. The business financial record is the first thing a potential buyer will want to see. The more information that is available for a buyer, the better chance of selling. It is important to have all records from the first day of trading ready and available. Doing so will prove to buyers that your business is running exactly the way you say it is.

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This selling a business article was produced for http://www.business-trader.com.au - Business for Sale Australia.

Source: http://www.articletrader.com ]]> http://www.articletrader.com/business/selling-a-business-and-making-a-profit.html http://www.articletrader.com/business/selling-a-business-and-making-a-profit.html Mon, 04 Feb 2008 00:00:00 -0600
When selling a business you have 2 options to choose from. The first and more convenient method is to use a business broker.

The second method is to sell your business privately. A business owner will usually opt to sell a business privately for the financial benefits. Selling a business privately and not availing the services of a broker will save you up to 10% of the sale price, which are standard commissions and broker fees. Don’t get me wrong, selling a business privately will incur advertising fees, but these fees will be much less then broker commissions. This will allow you to set a more attractive price for the business in question. This difference in price may be just enough to get more quality leads and result in a quicker sale.

When selling a business privately it will allow you, the business owner to deal direct with potential customers, and who better to talk to than the business owner. You will know exactly what to say to interested buyers and you will have all of the answers to their questions. Sure, Brokers are very professional and experienced in selling businesses, but let’s face it, there is no one better than the business owner who should be selling the business. When selling your own business, you are more motivated to sell it than a broker would be. Your have much more to gain and as a result, will put in a much bigger and better effort to try to sell the business ASAP.

Usually small business owner will try to sell their businesses privately. While major corporate companies will almost certainly use a business broker to sell their business. This is because any owner of a major corporate company usually does not have the time. Also because there is only a small percent of the business for sale market who would have the funds to purchase such a company, and business brokers would have ready and qualified buyers waiting in line.

When you are deciding whether to use a business broker to sell your business, or whether you are going to sell privately, make sure you take your time and research any business brokerage company before making a commitment. Make sure they have been established for more than 4 years and have a good reputation in the local community.

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Search businesses for sale at http://www.business-sale.com.au - Business for Sale Australia.

Source: http://www.articletrader.com ]]>