Selling a business can be a frustrating process if you don’t take the proper steps. From valuing your business to finding a buyer to negotiating the right contracts for the sale, there’s a lot to think about. We’ve put together the seven most important steps on how to sell a business for maximum value. One…
About the Author
Jeff White
Jeff White is a General Manager and Editor for our startup, retail, ecommerce, and HR sections here at Fit Small Business. As a JD/MBA, he has spent the majority of his career either operating small businesses (in the retail and management consulting spaces) or helping them through M&A transactions.
When he is not helping small businesses, he spends his time teaching his five kids how to become entrepreneurs.
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How to Get an SBA Restaurant Business Loan in 4 Steps
Restaurant business loans are tough to qualify for because lenders perceive the restaurant industry as volatile. Loans backed by the Small Business Administration (SBA) make it so lenders are more willing to issue these loans to buy a restaurant, open a new location or obtain working capital. SBA loans have rates between 5 percent to…
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What is Prime Rate: How it Works & Formula
The prime rate (aka prime lending rate) is the best interest rate that banks offer the most creditworthy borrowers. Average current prime rates are typically calculated by taking the federal funds rate and adding a 3% margin. Business owners with a strong track record of success and high credit score, known as “prime borrowers,” can…
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How to Get SBA Startup Loans in 7 Steps
SBA startup loans are the same as traditional SBA 7a loans for existing businesses but are more difficult to qualify for because there is a higher risk of default. These loans are still possible but you’ll typically be required by SBA lenders to come up with 25 – 30% as a down payment as well…
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Low Cost Franchises: Top 25 Franchises Under $25,000
We’ve found many high-quality, low cost franchises that have over 100 nationwide locations and initial investment fees starting under $25,000. They cover a range of industries, including fitness, cleaning, travel, food service and more. Many franchises prefer to work with an LLC. By setting up an LLC, it protects your personal assets from any potential…
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Top 6 Commercial Real Estate Loan Providers for 2018
A commercial real estate loan is used by businesses to purchase, renovate, or refinance commercial properties. We’ve put together a list to find the best commercial real estate loan provider for any need, including retail shopping centers, office buildings, and mixed use buildings. Read below to find out which providers we recommend. Best Commercial Real…
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How to Value a Business: The Ultimate Guide to Business Valuation 2018
Learning how to value a business is the process of calculating what a business is worth and could potentially sell for. The calculation factors in seller’s discretionary earnings (SDE) times an industry multiplier, tangible and intangible assets, and current liabilities. An accurate business valuation can be used to negotiate a price when you sell your business….
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How to Offer Power Tool Financing at Your Hardware Store
Power tool financing is offered by hardware stores to help consumers buy upgraded tools or add high-margin accessories to their purchases for large home projects. Customer financing is important to offer because the larger chains you compete with have their own financing programs. Financing can increase the number of purchases made and the average order…
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12 Questions to Ask When Selling a Business + Answers & Free Checklist
Selling a business can be a difficult process, which includes everything from preparation to valuation to closing the deal. Along the way, there are plenty of questions almost all business owners have. To help, we’ve answered the 12 most common questions you’ll likely ask during the business sale process. Getting answers to the following questions…
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9 Ways to Solve Business Cash Flow Problems
The phrase cash flow problems generally refers to money not being available for use when your business needs it. Cash flow problems can range from not being able to make payroll on time to not having the necessary cash to take advantage of a growth opportunity. You can typically fix your cash flow through a…
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57 Questions to Ask When Buying a Business
Knowing which questions to ask when buying a business will help you pay the right price for the business, and help you prepare to run the business after you close on the transaction. Typically, this means going through a five-step process that will help you determine which questions to ask when buying a business and…
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Small Business Debt Consolidation Calculator
Small businesses struggling with short term debt and high interest rates can significantly reduce their monthly payments by consolidating. Our small business debt consolidation calculator helps businesses estimate how much they could potentially save with a consolidation loan. The calculator will show your potential savings through our recommended consolidation option, a 10 year SBA loan….
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