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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.

Wake Up And Smell The Coffee… And Opportunity!

Performance Business Brokers Presents – This new hip specialty coffee shop in a high traffic location is serving the best espresso drinks in Edmonton at this time. Using a premium international coffee brand, they offer 11 different blend options of espresso and have created their own exclusive specialty drinks.

The cafe is fully equipped, tastefully decorated and is also staffed by a loyal and fun team of one full-time staff and two casual staff supporting its owner-operator running the show!

The cafe prides itself on serving to its devoted patrons the very best mouth-watering food, with that home-cooked touch. a light menu covering breakfast, soups and sandwiches for lunch and fine pastries for the time in between, all complemented with an easy-going modern atmosphere that adds to the overall experience.

This location and model has been built to be franchised if the new owner choices to do so.  Everything is in place to move forward into a franchisable business.

So, do not wait and contact us today for more details!  Dwight Lester 780-756-2990 or 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

 

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 – Edmonton Furniture Store for Sale

This is a well-known high-end furniture store with a long time base of clients. It sells middle to high end contemporary and traditional style furniture. The store is known for the high quality of its products. Most of the inventory is made in Canada with a bit imported from the USA.

The Company has been in business over twenty years with current owners in place since 1997. The owners are retiring and want to sell. There is a full complement of staff in place that have been with the business for many years.

There is room to increase profits through updating/modernizing the back office procedures.

The year-end of 2014 shows the highest revenue ever for the business. This is not a shrinking business. Current 2015 shows the business tracking even better than 2014.

Inventory is also available at owners cost.

Don’t miss out on this opportunity. Call or email today, Dwight Lester, 780-756-2990 or info@performancebb.ca .

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

 

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

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

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