Advantages of Buying an Established Business If you are trying to decide between starting your own or buying an existing business this blog is a must-read. Below are a few of the many reasons buying an existing business may be the better decision, along with a couple of tips that potential buyers should keep in mind before making a purchase.
~$10 million available in 2019; with an additional $10 million available in 2021~
Guest Blog by Jonathan Thielen I just sold our business for eleven times profit or 2.5 times revenue. Many in the industry would call this a successful sale. The company is a rental and employment screening company conducting background checks on people. I get this question often. "How did you capture the full value of the company and/or sell it for those multiples?" I even get that from my private equity friends. Read on for a breakdown on how we did it, and takeaways on how you can, too.
It's been 20 years since Minnesota has seen an income tax rate cut. But today the Minnesota Senate Republican Caucus published a press release with welcome news.
Some entrepreneurs seem to have a business "green thumb". They start a business, grow it quickly, and then miraculously sell it for higher multiples than most other similar businesses - without much forethought, following best practices or comprehensive business plan. Or they quickly build it, franchise then sell to a private equity firm.
Business tips We recently spoke with George Boyadjis, CPA, FHFMA, VP Corporate Solutions at Cresa Real Estate for this week's business tips. He shared 5 things businesses should consider before expanding their footprint or moving to new space.
MINNESOTA BUSINESS OWNERS ARE PASSIONATE ABOUT EOS I learned today that Minnesota is a hotbed for EOS (Entrepreneurial Operation System). Over 2000 Minnesota businesses have implemented EOS and that demand has caused a jump in the number of EOS certified implementer coaches in Minnesota to over 60. Businesses who have implemented it the right way (using an outside certified implementer) are very passionate about it and the results EOS has brought to their culture, vision, growth and bottom line.