Today we “Biz Bombed” Marc Andress, co-owner of Saint Simons Music. Located in the heart of the Village above Strothers Hardware, this eclectic music store has everything for the musician and music lover. From entry level instruments, to some fine vintage guitars, to a great selection of vinyl records, music accessories and more. They also give music lessons taught by some of the most well respected musicians in the area. Stop by and check it out! w/ Keith Dean
Accounts Receivable (A/R) is an important issue to consider when selling a business. Do you, as the seller, keep and collect the A/R on the closing day books after the business is sold?, include A/R in the sale for the buyer?, offer a discount to the buyer for assuming A/R risk?, or even offer a collection guarantee to the buyer? Every situation is different and this is just one of the many complexities of navigating a business transaction.
When pricing a house for sale in the residential real estate market, finding comparable sales through the MLS is fairly easy and straightforward. However, when pricing a business for sale, comparable sales are not so easy to find, and not a matter of public record. So where do we find sold business comps? We subscribe to a number of business broker only databases for sold business comps not available to the public to research sold data most comparable to your business.
Business broker – Keith Dean, CBI – has received extensive training and education in the business brokerage field, and has earned the CBI (Certified Business Intermediary) designation through the International Business Brokers Association (IBBA).
The coveted CBI designation is held by fewer than 450 brokers internationally, and Keith Dean is one of only 14 brokers in the state of Georgia to have been awarded the Certified Business Intermediary (CBI) designation.
The first question we always get from business sellers is “how much is my business worth?”. Our first step is to prepare a comprehensive “Brokers Opinion of Value” (BOV), based your your financial statements and tax returns. It is a complex process, but a BOV should not be confused with a Certified Business Appraisal performed by a USPAP Certified Appraiser, which may be required for other purposes. The Brokers Opinion of Value is meant solely to determine a “Most Probable Selling Price” (MPSP) for your business on the open market, and is a good indicator of what a willing buyer might pay for your business.