Location
800 Main Street Suite 201 Hilton Head Island, SC 29928
800 Main Street Suite 201 Hilton Head Island, SC 29928
We help you see the world differently, discover opportunities you may never have imagined and achieve results that bridge what is with what can be.
Confidentiality is, perhaps, the most critical issue for a business broker. Virtually every business seller doesn't want his employees, customers or vendors to know that his business is for sale. Transworld is very cognizant of this fact and in every step that we take we emphasize confidentiality.
There is a great deal of variation in the time frame, but, if we had to pick an average time, eight to nine months may be close. While this may sound like a long time, all of the facets of selling a company, including listing the business, finding buyers, interviewing buyers, writing contracts, due diligence and finally the closing process are all time consuming.
Transfer of the lease is crucial to the success of the transaction. It will be almost impossible to consummate a deal unless the lease can be transferred. Leases will have a clause that defines the landlord's rights regarding transfer. Frequently the seller will be required to remain as a guarantor of the lease and often there may be a charge by the landlord for the transfer.
This is a difficult one, it is very, very difficult to prove to a prospective buyer that you have earned income that has not been reported. The only suggestion here is if you are not reporting income stop right now and maintain accurate records including all income. There are some businesses that do sell in spite of this fact.
Most often, the company is sold free of all debt. This means that the former owner will be responsible for accounts payable as well as all long-term debt.
Today, no later. Even if you think you are not ready to sell your company right now you can't start preparing too early. One of our experienced agents will be more than happy to meet with you to help you to start thinking about your exit strategy.
Transworld has no upfront fees. We will analyze your company and go through the entire process with no cost to you. Your only obligation is when we find a buyer for your business. We traditionally receive our payment at closing.
The analysis of your business' value or worth is another crucial function of the business intermediary. "The Market" makes the final determination of value. At Transworld, we have tremendous experience in valuing almost any business. Our estimates of value are not "certified business valuations" although we can provide this service for a fee. However, our experience and volume of comparable businesses allows us to give the business owner a very good estimate of value.
This can be handled in many ways. Often the property is sold as a separate listing. However, the company owner will frequently retain the property, obtain a long term lease and earn an ongoing cash flow stream. Also, the property can aid a buyer's ability to finance the business.
Most small businesses are sold with the seller retaining cash and accounts receivable. A working level of inventory is generally granted to the new owner.
The lack of good business records is the single most common reason for a business sales deal to fall apart. We can't emphasize enough the importance of maintaining good books and records before selling. This includes accurate financial statements, cash register receipts or whatever records are necessary to prove income and expenses. Of course, current tax returns are a must. However, we are used to selling businesses that may have less than adequate records.
We have a list of the ten most important things that you can do to improve your business before selling, and you can review them on our website.
Buying or selling a company can be a complicated venture. While some companies are sold without the help of accountants and attorneys, we strongly recommend that both the buyer and seller engage professionals.
We help you see the world differently, discover opportunities you may never have imagined and achieve results that bridge what is with what can be.
Buying or selling a business can be a complicated venture. While some businesses are sold without the help of accountants and attorneys, we strongly recommend that both the buyer and seller engage professionals.
While the e-2 process is quite complex and we certainly recommend a consultant that specializes in obtaining visas, several of Transworld's agents have done numerous E-2 transactions and can provide enough help to move you along the process.
Our website, www.tworld.com has a search page where you can look at over 4000 businesses.
Transworld is generally paid by the seller not the buyer. However, other costs do come into play. Legal and accounting fees are generally required and additional startup costs may also come into play.
Depending on the complexities of the business, the former owner will offer varying levels of training. On most small businesses, the owner will offer training for two to four weeks at no cost to the new owner.
As part of the acquisition process, you will have to go through "due diligence." During this period the seller is required to present documents to verify his profit numbers.
No, while 100% of the purchase price is sometimes required, sellers will frequently provide owner financing to some extent. Additionally, a bank may be able to loan up to 80% of the purchase price through a loan sponsored by the Small Business Administration.
Businesses vary in price a great deal, however, it would be unlikely that one could buy a business with much less of a down payment than $50,000.
We welcome and celebrate different perspectives to help our firm, our clients and our people.