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When is the right time to sell my business?

This is a question which does not have a one size fits all answer. That is because each business is different and each business owner is different. For some, deciding to sell is decided due to the financials, for others it is a much more personal desire which drives them.

The financials are important; for most, the desire to make money is the very reason they set up their business in the first place. With this in mind, it therefore makes sense to sell your business when it is riding high if you want to achieve the best price for it; it goes without saying that a profitable business is a more desirable one in the eyes of potential buyers.

A business with falling profits is unlikely to be as desirable, and furthermore, those who are interested in purchasing this type of business will be looking to negotiate hard when it comes to price.

There are also reasons beyond the financial that may see you considering selling your business. Life events such as divorce or the death of a business partner may force your hand. Other personal reasons such as stress and the day to day running of the company becoming too much for you to want to deal with anymore are also compelling reasons. If this is where you are, then the timing is more about selling up at a time which is the best for you and your current situation. While getting a good price is still a main objective, the financials may need to take a back seat and become secondary to the necessity to sell.

When it comes to getting the best price, timing is everything. The problem with this is that it is very difficult to predict with absolute certainty the future and what it holds for your business. However there are certain trends you can be on the lookout for regarding both your business and the sector you are a part of as a whole. It is also easier to sell when the overall financial market is healthy and obtaining finance a relatively easy proposition.

Why do I need a NDA when selling my business?

The nature of selling a business means you must divulge various pieces of financial information that, in normal circumstances, would remain confidential from your competitors and the public.

There is no way of helping this information to remain confidential, other than by using a legally-drafted non-disclosure agreement, or NDA. This is intended to prevent disclosure of sensitive information using the threat of legal action against any party who contravenes the agreement, and breaches your confidentiality.

The threat of having your ideas or trade secrets stolen, or your commercial data used to gain a competitive advantage, is considerable and far-reaching. An NDA essentially makes the recipient legally-obliged to meet its terms and conditions.

What exactly is a non-disclosure agreement?

A non-disclosure agreement, also known as a confidentiality agreement, is a formally-drafted document that becomes part of your business sale. It is signed by anyone wishing to receive the sales memorandum, which is the initial set of information distributed to interested parties.

The NDA protects the goodwill of the business, and the information that will be disclosed. It is an essential element of selling a business that safeguards your confidential data, facts and figures, and other particulars, from competitor gain.

What can be protected by an NDA?

Various pieces of information that are not publicly available can be protected by a non-disclosure agreement, potentially including:

  • Details of a new product line
  • New technology or innovations
  • Business plans
  • Financial information
  • Databases
  • Customer and supplier name
  • Employee details

What are the main elements of an NDA?

Essential elements of a non-disclosure agreement include detailing the parties to the contract, the specific information that should remain confidential, and the length of time that applies.

Defining the purpose of the provision of this information, and how the information contained in the NDA can be used, should also be clearly stated. In the case of selling your business, this is likely to be for evaluating your business proposition.

You will also need to include details of who the recipient can share this information with – they may need to show their accountant, for example, or their solicitor.

What are the benefits of an NDA when selling your business?

The fact that you are selling your business is, in itself, highly sensitive information in a commercial sense, and using a non-disclosure agreement offers several key benefits even when you trust the other party to maintain confidentiality:

  • Your buyer may already operate in the same industry, in which case, if they decide not to go any further, there is nothing to prevent them using the information provided in the sales memorandum for competitive purposes.
  • If negotiations fail at a later stage and you wish to exit the deal, you can do so knowing that you have a legal claim against the other party should they make use of the disclosed information.
  • If they did use your confidential information for commercial benefit, or indeed in any way other than for the purpose defined in your NDA, you may be able to take legal action against them.

Although they cannot provide guaranteed protection against the future use of your confidential information, non-disclosure agreements offer an effective deterrent which is valuable in itself.

If you would like further information about a non-disclosure agreement for your business sale, contact us at Performance Business Brokers.

Lower Price Edmonton Spa with Nails – Business For Sale

Performance Business Brokers Presents –   $80,000

If you are looking for the hottest looking spa in Edmonton, the opportunity to own it is available now for you.

This stylish personal care boutique offers the best in upscale pampering services all in a relaxing and fun environment.

The heavy-lifting has already been completed by the current owner. If you are looking for a high-end day spa, with flair, you must see this business. This is literally a one stop shop for any ones beauty needs. The buyer of this Business will be getting a “TURN-KEY” operation costing thousands beyond the asking price to open.

The staff is well-trained, knowledgeable & truly cares about the image and well-being of each and every Customer.

Established over 12 years ago the spa specializes in manicures, pedicures, waxing, tinting and facials. The spa’s registered massage therapists provide a variety of treatments including relaxation and deep-tissue massage. Other services offered include body wraps, body scrubs. The spa also is now doing eye-lash extensions.

For full information on this business contact Dwight Lester at 780-756-2990 or info@performancebb.ca

Training/Support: 1 weeks upon closing
Sale Reason: other business interests

Sign and Graphics Business For Sale

Performance Business Brokers Presents –  $ 290,000

This a well-established company has a strong history in the Edmonton sign and graphics industry. In business for more than 25 years, it has expanded its portfolio to include not only signs but all types business visibility needs. Digital products range from vehicle wraps, displays, posters, sandwich boards and all types of decals. This company would be an ideal addition for a printing company as they both serve customers with needs for each type of printing service, signs and paper.

Their creative department is staffed by talented designer who are able to handle any size project.

The bulk of our customer base is located in the Edmonton area and includes a wide variety of businesses. However, their customers are not limited to the Edmonton area but all of Alberta.  The business is predominantly a B2B service with professional clientele, providing signs and graphic solutions for every industry and for businesses big or small.

Open only Monday to Friday

The shop is equipped with all up-to-date equipment for this type of shop run by a strong base of long term, experienced and reliable staff.

For more information contact Dwight Lester, info@performancebb.ca   www.performancebusinessbrokers.ca

Facilities: Great location with lots of space for expansion if desired. 3000Sq ft plus 1700 sq ft mezz. all for a great monthly rate of $2875.00
Sale Reason: owner looking to retire

Wig & Hair Extension Retail Store

Performance Business Brokers Presents – $300,000

This well established hair extension and wig store is located in the busiest area of Edmonton.  Foot traffic is extremely high and many customers are repeat customers. The store has been open for over ten years and has great repeat business.

Staffed with 3FT and 2 PT the store can be owner operated or run at arms length. The stores current lease runs for another 6 year under favorable terms. This is a turn key operation.

Purchase price is $300K includes inventory of $100K

For complete information contact Dwight Lester, 780-756-2990 or info@performancebb.ca

Sale Reason: Health and Owner moving out of province

Hydraulic Machine Shop for sale

Available for sale is this local modern industrial hydraulic machine shop. The shop can do manufacturing, service and repair, with a fully-equipped machine shop capable of dealing with projects of any size.

The company has assisted clients both by building and repairing all types of custom and general production machinery and by selling, servicing and repairing all brands of hydraulic and pneumatic equipment. Staffed by dedicated professionals, including machinists, mechanics, welders, hydraulic, specialists and sales support staff.

The company houses in stock a large selection of metric material. They carry Induction Hardened Chrome Plated Steel Bars I.H.C.P. sizes from 120mm up to 250mm and metric barrels with ID’s from 180 mm up to 300 mm.  They are a custom shop and can make any size required up to lengths of 25ft with their mill.

The machine shop has multiple lathes, boring and milling machines able to tackle all jobs at any time of the day.  They specialize in quick turnarounds.

Then owner has other business interests he would like to focus on.

For complete information, contact Dwight Lester at 780-756-2990 or at info@performancebb.ca

Franchise Pet Food Store For Sale in Edmonton

This high volume pet store is in an ideal location, in a high traffic shopping center, centrally located to the perfect demographics for this type of business. It has been established for over 10 years and has flourished as the go-to pet store for dog and cat food, supplements, accessories, toys, treats, leashes, collars, and professional advice on care and feeding of dogs and cats. This business has been built upon its reputation for quality service and advice, professionalism, and caring for each customer individually. This store is part of a national franchise with over 50 stores in Canada.

The business also has a dog grooming room that is subleased out.

This is a totally turnkey business just waiting for the new owner to take it to the next level. This is a diamond mine just waiting for the new owner to start harvesting the diamonds and reaping the profits.

For complete details contact Dwight Lester, 780-499-2386 or info@performancebb.ca

 

Price Reduced – Brand New Nail Salon For Sale

Performance Business Brokers Presents – A brand new Nail Salon in Sherwood Park is for sale.  Just opened 8 months ago available for immediate sale.  100% turnkey business comes complete with 6 Nail stations, 6 pedicures chairs, Wax / Massage room with all the equipment, Washer and Dryer, many fixtures of gel and polish.  All equipment, supplies, tools, furniture and fixtures included.

Located in a prime newly built Sherwood Park location, Excellent opportunity for owner/operator. Excellent reputation in the area and customers love coming here.  Can accommodate up to 12 Nail Technicians.

Contact Dwight Lester at 780-756-2990 or via email at info@performancebb.ca

UPS STORE IN EDMONTON

The number 3 producing UPS store in Edmonton is for sale. The Business is supported by a well recognized name brand business which supports commercial and neighborhood businesses with copying and digital printing solutions, document services, shipping options, full-service packaging, or mailboxes services.

The UPS store franchisees which will provide professional training and support for the new owners with a network of over 340 other locations across Canada.

Priced well below what a new location would cost with income being generated from day one. Enjoy the enormous strength limitless potential of solid industry name brand recognition with great lease and location and term. Price includes all lease holds, inventory and furniture, fixtures and equipment.

Please contact Dwight Lester (780) 756-2990 or info@performancebb.ca find out how easy it is become an owner of this great opportunity.

Very Well Equipped Machine Shop For Sale

This well-regarded Edmonton based Company specializes in the development and manufacture of parts and components, precision CNC Machining services and Repair Solutions.  Their products are used by a variety of industries and sectors. The Company’s customer base of loyal customers are primarily located in Alberta, however they do serve some international markets.

The Company has a great reputation for comprehensive equipment capabilities, value-added services and a staunch focus on customer service; which, results in excellent customer relationships and high rate of repeat business. Significant growth potential exists via more aggressive business development efforts, expanded service offerings, as well as geographic expansion.

The Company prides itself on its ability to produce custom precision products to meet exacting specifications. This competency has allowed the company to develop long term customer relationships, leading to repeat and referral business.

This dynamic and forward thinking company has consistently invested in new equipment. It offers its customers the best manufacturing technologies and service; ensuring demanding standards of quality are achieved.

Given its robust equipment, which has been appraised at over $ 2 million, the Company has additional capacity available throughout their large shop.  With close to 20 employees no project is too big to be handled. The only limitation is the 10 Ton crane.

For more information on this business contact Dwight Lester at 780-756-2990 or at info@performancebb.ca