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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.

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.

SOLD – Lash and Brow Studio For Sale

Are you looking to be your own boss? Are you looking to be an absentee owner? This business will allow you to be both?

This spa business is into its third year and has had huge increases year over year and is still growing.

It is located in the Edmonton area and is new, trendy and has a modern look and feel.

The business is fully staffed which will remain on and continue to grow the business.  Lots of repeat clients and new clients via word of mouth.

The space is 1100 sq. ft. with 3 years left with an option to renew for 5 years.  Great lease rate in place with a very good landlord.

Contact Dwight Lester, 780 – 756 – 2990 or by email at info@performancebb.ca

 

SOLD – Licensed Massage Training School For Sale

For the past 14 years the company for sale has been providing massage training under a private vocational school license issued by the Province of Alberta.

The school operates in multiple locations throughout the province.  Due to being licensed already with the province additional programs can be offered leading to certificates or diplomas.

Graduates are trained to meet therapeutic needs of the Clients and the requirements of their Group Insurance Companies.

As a leader among massage therapy schools in Alberta, they pride themselves in teaching our graduates how to be successful in the workplace. The instructors are all practicing therapists in the communities in which they teach. They are committed to passing on their knowledge, as well as the practical skills they have honed in their many years of practice.

The school offers two programs in Massage; Swedish Relaxation (900 hours), and Massage Therapy (1300 hours).

This allows for a total of 2200 hours, which is the standard generally accepted across Canada.

The courses offered are part time in class and part time home study, with online support and access to the instructors during the time away from class. This allows for the students to have more control over which hours they study, and consequently to fit the course into their present lifestyle.

The current owner is looking to retire but will remain on and work with the new owner on a day by day basis to ensure a smooth transition.

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

SOLD – Fire Protection Business for Sale

Fire Sprinkler Contracting Company

Edmonton Alberta 

For the past 7 years the company for sale has been providing fire sprinkler system design, fabrication, and installation, inspection, and maintenance services for various types of industrial, residential and commercial buildings. 35 %  of  the  primary  business  activity  is inspections and tests, 30% is for service and repairs, 20% is new equipment installation, 10% it equipment sales and 5% consulting.

The Company handles a wide-array of fire protection needs, ranging from small, retrofit projects to new building installations, repairs, inspections, and confidence testing services. Typical projects include manufacturing facilities, health care facilities, big box retail stores, schools, paper mills, fast food chains, warehouses, and a large variety of other buildings.

Growth projections are strong, with additional work coming due to increasing government regulations, the insurance industry provides tangible incentives for companies to improve their fire protection systems. This company is positioned to meet these needs with its high-performing team of experienced and skilled personnel.

The ideal buyers would include competitive companies interested in expanding their presence throughout the region, or complimentary companies looking to expand product and service offerings to their current customer base, or individuals who are interested in handling the higher level management responsibilities of the business.

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

Performance Business Brokers Facilitates the Sale of Grizzly Disposal Solution

March 13, 2014 10:30 ET

Performance Business Brokers Facilitates the Sale of Grizzly Disposal Solution by Way of Controlled Auction in Edmonton, Alberta

EDMONTON, ALBERTA–(Marketwired – March 13, 2014) – Performance Business Brokers (www.performancebusinessbrokers.ca) of Edmonton, AB has completed the sale of Grizzly Disposal Solutions in Lac La Biche, Alberta. Grizzly Disposal is a full service Waste Disposal Solutions company specializing in front load, roll-off and curbside waste service. Their customers range from residential, commercial and oil field servicing, including many in the oils sands field.

Dwight Lester, President of Performance Business Brokers in Edmonton AB comments, “With the type of business being sold and knowing that there were multiple possible suitors we concluded the best process for selling the business was through a controlled auction. Our objective was to create a competitive market among multiple buyers for the sale of this business.” Norman Charest, the Sellers commented, “Working with Performance Business Brokers was the right choice for us. Dwight provided great guidance throughout the whole process from the first day in listing the business for sale and throughout the process including closing.”

About Performance Business Brokers, Edmonton

Performance Business Brokers is a full service Edmonton Business Brokerage Company that sells businesses across Alberta. We specialize in business valuations, packaging, listing and the selling of existing businesses and new business opportunities.

Selling your business is one of the most important financial decisions you will ever make and it can involve high levels of stress and anxiety. Working with a professional can reduce the stress by determining the optimal selling price and terms for the seller. The majority of a business owners’ wealth is often tied to the business so a properly executed exit from it is paramount. It is important to ensure you have the right team to guide you when selling your business.

Selling Businesses is our ONLY Business

 Contact Information

Fast Growing Security Company for Sale

Performance Business Brokers Presents

For sale is a Security Company that is halfway through their fourth year of operation and has had a huge revenue increase over this time. Current year’s revenue is tracking to be higher than $1,600,000. Great profit margins.

Most of the revenue comes from businesses in and around the Edmonton area. The business is currently operated by an out of province owner.

All required licensing is in place for the provinces of Alberta and British Columbia.

This is a perfect addition to a business already in the security industry which is looking to grow through acquisition or for an individual looking to enter the security industry for the first time.

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