Selling Houston Businesses Since 1974
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The Business Transfer Newsletter
October 2020
Selling Texas Companies Since 1974
Our monthly newsletters provide educational information about buying or selling a business, current economic conditions, and highlight some of our newest business-for-sale opportunities.
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"The best library of articles about how to sell your business" - 
says The New York Times

 Selling a Business: The Problem of Overvaluation
Last week I met with a business owner after an introduction by his accountant. He was thinking of selling his profitable waste recycling business, a business he had been running for nearly 30 years. The business had a reliable management team, an enviable customer base and a strong balance sheet. Unfortunately, the owner had a vastly inflated idea of the value of his business.

His thought process went something like this: “I’ve built this business over 30 years so it must be worth a lot of money. A couple of years ago we built a nice place to retire to and need to clear the mortgage. We also need a couple of million to create a pension that will maintain our lifestyle. The business has provided us a very nice lifestyle and will do the same for the new owners – it has to be worth about $3 million.”
Installer of Permanent Home Lighting in Houston Exclusive Dealer
This young company is one of two authorized dealers with a full patented permanent home lighting product in the affluent areas in the Houston Metro area. The business has the exclusive right to sell and install original equipment from the manufacturer. The territory is very desirable and expected to have significant growth in sales. The business has been doing installs since June of 2017 and has demonstrated both profitability and month-over-month growth in sales. This unique company experiences a seasonal lift during the holidays, but also has consistent sales during other months of the year as the product is fully customizable

The current owner started the company in addition to working a full-time job and the ownership duties were taking more time than he was able to devote. The Seller ran it for three years before selling. The new owner can step into the business with a seasoned installation team and take over the current owner’s functions.

The Buyer is his first leap into entrepreneurship and will run the company full time. He used an SBA loan to purchase the company with a 15% down payment.

Chris Adkins listed the business and sold it.
Locksmith Company Operating in Houston Since 1976

A classic story of the master passing the baton to the apprentice. The owner built and grew this successful commercial locksmith business for over 40 years and was ready to retire. Certified Business Brokers was able to find a young locksmith, an employee of another company, who’s goal was to own and run his own operation. Of course, the parties had to reach agreement on the transfer price. Of equal importance was that the buyer and seller establish a personal rapport as they would be working closely during the transition period and the seller wanted to make sure that his customers of long standing would be well cared for. Because of the specialized technical expertise required, a longer than average transition period was negotiated whereby the seller transitioned from active participation gradually tapering down over a specified period.

Hal Poel listed this business and sold it.
 Put On Your Poker Face

Ready to sell? Talk to your spouse and advisors. Beyond that, keep it a secret.

Confidentiality is extremely important in almost any deal. When people begin to think your business is for sale, it creates dangerous uncertainty. Valuable employees start looking for other jobs, vendors tighten credit terms, and competitors use it as an entry point to poach customers.

The selling process has three distinct phases and should always be performed within the confines of Confidentiality. The anonymity of your business is critical during the sale process and is important to protecting your interests. The average business takes 9 to 12 months to sell. If confidentiality is breached early in the process, it can put the company in a downward spiral. Suddenly you’re not only running a business, but you’re busy putting out fires. That will discourage potential buyers. A buyer wants a successful, going operation with very little changes until he/she has an opportunity to make them.

Twenty-Twenty will be known as a year we didn’t see coming. Business owners had to adapt at a fast pace in order to thrive or even sometimes survive this year.

The businesses that had a clear vision and documented processeses, found that adapting was easier and had better outcomes. In addition, training new owners after selling a business, can be performed in a shorterened training time.


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Economic Impact On Business Sales
We Cover Topics That Impact the Small Business Marketplace

Texas joins Trump administration's lawsuit against Google, arguing the tech company has a monopoly

81% Say the 2020 Election Will Affect Their Small Business, No Matter the Outcome

11 Lessons Learned From The Business Acquisition Process

Tips for preparing to apply for a small business loan

What to Expect in Due Diligence When You Sell Your Company

Selling a business after PPP?

Celebrating Small Business Week is more important than ever this year, as sales remain dangerously low

The Ups and Downs of Running Your Own Business

How 6 businesses learned to survive the pandemic

M&A is rebounding dramatically in September, with Q3 deal value up 80 percent from previous quarter

Importance of Cash Management During Turbulent Times - Contemplating an Exit Strategy

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Texas Economic News

REPORT: Greg Abbott named best Governor in the Nation

A new strategy for securing Houston’s economic future

Tax-friendly Texas poised for flood of corporate relocations in ‘biggest year yet,’ expert says

25% Of Houston’s Office Space Is Seeking New Tenants - time to re-negotiate?

Survey: 80% of Small Businesses Want Economic Relief Prioritized Over SCOTUS Nomination

Texas Top-Ranked Again for Business Climate in Survey

Opinion: Texas’ strength, America’s freedom depend on Midland’s votes

Houston-area execs sweep Entrepreneur of the Year Gulf Coast Area Awards for 2020

Lenders are Ready, Willing and Able to Help Private Equity Rebound

Charles Schwab sets date for HQ designation move from San Francisco to Texas


Sources: Nasdaq in talks with Gov. Abbott about relocating trading systems to
DFW

Chattanooga Airport adds nonstop flights to Houston as economy improves

Titan Gilroy Says He's Moving His California Manufacturing Company to Texas To Expand, Pay Less Taxes

Texas economy shows continued signs of expansion, according to Dallas Fed report

Rich states, Poor states Index ranks Utah, Texas first for economic outlook, performance

Trump says he approves TikTok deal, with possible Texas headquarters

Texas Unemployment Rate Drops to 6.8% for August, Over 100,000 Jobs Added

Another California Firm Leaving for Texas: Wesco Aircraft Moves to Texas
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