#dog walking business
How to start a dog walking business.
Become a professional Dog Walker – The ultimate dog walking job – Dog walker opportunity
This short guide has been written with a view to explaining what is required to start up a professional dog walking business. It should give you a good idea about what you need to consider in your pursuit of becoming a full time Dog Walker. This guide is designed to give you an idea as to what is involved in starting up a professional dog walking business to run on a commercial full time basis. There are many adverts out there offering “dog walking jobs” but there is no need to look for employment as a dog walker or indeed to apply for dog walking jobs, when you can run your very own successful dog walking business.
There are many people, many dog loving people, who are in jobs that they dislike and would give their right arm for an opportunity to make a successful career in some form of dog care. Imagine keeping fit whilst being out in the fresh air and countryside. Could you think of a better way to make a living than keeping fit in the fresh air, whilst working with loads of different dogs every day? The list below will give you a good idea about how to become a self employed dog walker, so that you don’t have to apply for so called “dog walking jobs” or “dog walking opportunities”.
When starting a dog walking/pet sitting business, there is a lot of things to take into consideration:
Business Insurance – You will need quality business insurance which should include the likes of Public Liability, Care Custody & Control/Animal Liability, Professional Indemnity, Equipment Insurance, Personal Accident Cover, Vet Fees Extension, Loss of Key Cover, Glass Cover & Holiday Emergency Cover.
A professionally equipped van – For the transportation of dogs, your van should be professionally kitted out in the inside, be fitted with a moisture extraction system and your livery should be undertaken by professional Sign Writers.
Van Insurance – Suitable cover for a self-employed Dog Walker.
Relevant Local Council Licences – Depending on your local authority, there may be a variety of licences which you must hold, if you wish to operate as a Dog Walker in your local parks or you plan to offer dog home boarding services.
DBS/Disclosure Scotland – Undertake relevant police checks to inspire confidence in your future clients and to demonstrate trustworthiness.
Website – A modern, vibrant website is a must to convey professionalism and to allow prospective clients to find you easily.
Dog Walking/Boarding/Sitting – There is a variety of services that you can offer.
Branding/Trademark – In order to distinguish yourself from your peers, a great deal of thought should go into your brand and the protection of it.
Stationery – Your stationery should be consistent with your brand, and cover the likes of business cards, letterheads & envelopes.
Marketing – It is important to keep your advertising costs to a minimum when starting up any business, yet vital to find clients. Keeping your overheads as low as possible yet effective is advised.
Registration Forms – You will need an easily managed system to sign up new clients and will need well designed forms to cover the likes of Information Form, Terms and Conditions, Veterinary Authorisation, Walking Off the Lead and Customer Satisfaction Surveys.
Cover Letters – Easily edited to cover a wide range of scenarios, to save on administration time.
Charging Structure – The importance of this cannot be understated as there is a fine line between competitiveness and profitability.
Uniform – In accordance with your brand, you must be seen to be smart and professional at all times.
Key Management – It is extremely important that your key management systems are infallible.
Rota Management – In order to run an efficient operation, good time-management is essential.
Accounts – Not only is there a legal requirement for tax purposes, but tidy book keeping will save you a lot of time and expense.
Filing – You should have a tidy and appropriate system in place that complies with all relevant data protection rules and regulations.
Equipment – The types of equipment that you will need on a day to day business will include; Leads, Couplers, nail clippers, tick-removers, waterproof camera and phone, good boots and waterproof trousers and jacket.
Branded Dog I.D tags – Essential that all of your dogs wear these on every walk.
Training – It is not easy to take out a group of dogs for an hour’s walk. The practicalities of being a Dog Walker are far reaching, and you need to consider things like: basic group formation, collection of dogs, positioning of dogs in van, safe release of dogs from van, your walks, photo and video taking, using a dog whistle, potential hazards, safely getting your dogs back in the van and a suitable procedure for returning your dogs. With all of this in mind, you should undertake suitable before commencing with commercial dog walking.
Clients – Last but not least, you need to build and look after your client bank.
As you can see with this brief guide to becoming a dog walker, there is a lot of things to give consideration to. It may seem like a lot, but starting up a professional dog walking service requires a lot of planning.If, however, you would like the backing and help from an already successful and established dog walking company, then please take a look at our franchise page and download a free copy of our prospectus. Also, why not pop in to say hello to us on our facebook page, we won’t bite!
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Join us at Wacky Hounds
How to Write a Business Profile
A business profile is like a résumé for your company. It lists basic company details and gives you a chance to highlight your strengths. Just like a résumé, you should write each business profile with a purpose in mind. Use it as an opportunity to briefly state why potential clients should work with you, but give thorough and precise details.
Part One of Two:
Getting Down Company Information Edit
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Talk about your company’s ideas. If you have a mission statement, put it here. Otherwise, write out your company vision, guiding ethos, and a little about your history. Telling who you are and what drives you gives your company a human element. It also gives you a chance to do some subtle advertising early on.
- This is a place you can afford to be a little vague. Mission statements are legally necessary for some businesses, and may need to be specific. For everyone else, try to state what you do without limiting yourself. You don’t want to scare away potential business that thinks you wouldn’t consider expanding into adjacent industries. But it is easy to overdo vague language.
- A bad example: “XYZ Semantics is a company driven by the pursuit of its dreams. We want to bring you with us on this journey. Our dedication to solutions and innovation make us the leading marketing consultants west of the Mississippi.”
- A good example: “XYZ Semantics is seasoned and talented team of marketing consultants. Since 1975 we have helped our clients grow their business and profits. Though our methods are complex, our goal is simple: we want to help you sell your product to more customers.”
Find out more specific details. Check with your secretarial or human resource staff to find out up-to-date details in several areas. You may not need to use all these, but having them on hand will make it easier when you sit down to craft the profile. Set up a way to streamline this process in the future, as you will want to update this information in your profile regularly.
- Number of employees
- Turnover. Low turnover can indicate stability, but either way it’s a good statistic to have on-hand.
- List of all business activities. What are all the areas you work in?
- Unique equipment or specialties. If you are the only company that produces, say, a rare machine part, you need to mention that.
- Your methodology and/or what software you use.
- Volume of output you can handle. Prospective clients need to know if you are prepared to meet their needs.
- Delivery stats. How many units do you ship in a given period?
- Major accounts or clients. This is a way to show prospective clients whether or not you are used to doing business with companies like theirs. It’s also another chance for subtle advertising.
Sift through all this information. Since you want to keep the profile short, you can’t include every possible detail. Also, not all of them might be strengths. Pick out what might be relevant to include in your profile in various contexts. Keep the other information on hand for future reference, but put the important stuff in one place for easy access.
#small business owner
How Hard Is It to Be a Small Business Owner?
There are a lot of misconceptions about being a small business owner. Like…
People often think that being a small business owner is easy because you get to be your own boss and set your own hours.
The Reality : Most small business owners work harder than they used to work when they had a corporate job.
People think that being a small business owner is glamorous – you get to make big decisions, make big money, and have a carefree lifestyle.
The Reality . Most small business owners have to wear many hats – sometimes getting to be a strategic visionary, but other times having to serve as a front-line customer service person, amateur psychologist, or office janitor.
But one of the biggest misconceptions about being a small business owner is that it’s too “hard.” I recently read an article on the Naked Capitalism blog entitled Tech Titans Promoting Basic Income Guarantee as a Way to Shrink Government, Kill Social Programs , which suggested that being an entrepreneur is a raw deal for most people:
But who wants to be an entrepreneur? Seriously. If you can hold a job with any stability and you don’t mind the work and get on with your boss and co-workers, it’s a vastly better deal than running your own show…being in business for yourself is almost a roll-back for the whole rationale of advanced economies: that of specialization. In a larger organization, the really good sales guy can mainly do sales, plus the unavoidable internal politics and bureaucratic tasks. The accountant can mainly do accounting, and so on.
By contrast, starting a business requires lots of skills, including selling, negotiating, having common sense about priorities, being able to size up potential backers and employees, being able to budget and manage funds. It’s a drag if you are really good at one particular thing to have to do all that other stuff, even if you are capable of it.
The payoff curve for entrepreneurship looks a lot like that of lines of employment that most parents would tell their kids to avoid: acting, playing sports, writing novels. Remember, 90% of all new businesses fail within three years. And like J.K. Rowling, A-list Hollywood stars, and football pros, the lure of the huge payoffs at the top end masks the steep falloff after that.
First of all, it’s not true that “90% of all new businesses fail within three years” – according to statistics from the Small Business Administration. about half of small businesses survive for five years or more, and one-third survive for 10 years or more. That’s a lot longer than I’ve lasted at any corporate job.
This article also makes it sound like entrepreneurship only offers rewards to the people at the top – as if most small business owners are a bunch of low-paid losers who would be better off trying to make it as actors in Hollywood. But even if we’re not going to be the next Bill Gates, most small business owners make a decent living – according to an American Express OPEN survey on the average entrepreneur’s salary. as of 2013, small business owners paid themselves an average annual salary of $68,000 – which is significantly more than the 2013 U.S. median household income of $52,250.
But more broadly, I disagree with the premise of the argument that it’s “too hard” to be a small business owner because you don’t get to specialize in what you do best.
It’s true that when you work for a big company, there are certain “economies of scale” that enable the big company to do things faster, cheaper, and perhaps better than a smaller company could. This is a basic principle of economics. However, for small business owners today, in the age of the Internet, there are so many great online small business tools and resources that can help you be more productive! You don’t have to be a big company to get big results in 2015 – you can use business-grade tools and resources to outsource, automate, and delegate various business tasks and daily operations, whether it’s basic back-office functions like simple accounting, invoicing, or payment processing, or more advanced skills like marketing, building customer relationships, and business inventory management .
As a small business owner today, you’re in business “for” yourself, but not “by” yourself. You can get help with almost any business topic imaginable online. You can connect with other entrepreneurs on LinkedIn for advice and ideas. You can get free business mentoring from SCORE, the Small Business Administration’s mentoring program. Even if you’re a solo entrepreneur or small business owner with only a few employees, there are many ways to make your business seem “bigger” without the bigger costs.
It’s simplistic (and wrong) to think that it’s too hard to be an entrepreneur, so no one should want to do it. I think it s actually the opposite – while it s never easy to run your own business – there are always financial risks and stresses, and lots of hard work – the Internet is making it easier than ever before to run a business. Not everyone has the right combination of ambition, hustle, vision, and sheer willpower that makes for a successful small business owner – but if you do, the rewards (and the daily sense of freedom) make it all worthwhile.
Ideally, as a small business owner, you should get to specialize more than ever before in doing what you do best every day. Use some of these cheap (or free) online business tools and mobile apps to outsource or automate the daily tasks that you don t like to do or aren t as good at. Being an entrepreneur helps you unleash your productive, creative potential like nothing else!
How Do I Know If I m Qualified to Be a Business Analyst?
Are you exploring a career in as a business analyst? Do you find yourself wondering if your skills and experience are relevant to a business analyst role? Would you be interested in learning about how qualified you are to be a business analyst?
We re going to talk about how to know if you are qualified to be a business analyst, but first I m going to share a funny story with you.
(Before I forget, I want to be sure you know about my step-by-step BA career planning course (it’s free) that’s designed to help you, the mid-career professional, kick-start your business analysis career. The course will help you dig deeper into each of the concepts outlined below.)
Just last week, the night before my birthday, I walked down the short flight of stairs after putting our daughter to bed. I smiled at my husband. He was making an odd expression. I continued to look more deeply at him to figure out why.
I walked over to where he was sitting and said, What s that goofy face for?
He says, You didn t see it, did you?
Me: See what?
He shifts his eyes back toward the stairs. On the ledge we have right in front of our stairway were a dozen yellow roses laying out in plain sight.
I couldn t believe I had completely missed them. For a split second, I even starting thinking that just maybe my husband tele-ported them there, but then I remembered the laws of physics and found my own eyes to be the culprit.
I was looking at my husband and his funny expression instead of what was right in front of me.
This same sort of thing happens to all of us, all of the time. We often don t see what can be obvious to other people or even what other people expect we should obviously be seeing. In all the work I do with professionals transitioning into the BA profession, the most prevalent problem I see is that they overlook significant relevant and transferable skills from their own career background.
As a result, their answer to the question, Am I qualified to be a business analyst? is a resounding no when it should be a yes or at least a some of the time . (And as we ll see in a bit, some of the time can be a very effective path to business analysis.)
Today, I d like to help you see the bouquet of roses waiting for you on the ledge at the bottom of the stairs. And to do that we need to look at the concept of transferable skills.
What are Transferable Business Analyst Skills?
Transferable skills are skills that you’ve built through experiences in your past roles. In the context of business analysis, transferable skills are BA techniques you’ve used in non-BA jobs or soft skills you’ve developed in perhaps unrelated roles.
Transferable skills can help you skip past entry-level business analyst positions. This is especially important because there tend to be very few entry-level business analyst positions. And those savored few entry-level positions tend to favor recent college graduates without the salary requirements of an experienced professional.
If you do have even a few years of professional experience, and a fair amount of the 42 reasons to become a business analyst resonate with you, then you have transferable skills. Getting clear and confident about them is part of your path to success as a business analyst and figuring out what roles you qualify for.
But What Business Analyst Qualifications Are Transferable?
When transitioning to business analysis, there are many areas in which to look for your business analyst qualifications. A good first step is to review our list of core business analysis skills that are important for a new business analyst and start mapping your experience to these skill areas.
Here s a rundown of what you can expect to find during this process:
- The core business analyst skills. those you might find mapped out in the Business Analysis Body of Knowledge® (BABOK®). will help you get past the screening process for a business analyst role. Any given hiring manager tends to have a checklist of key qualifications they absolutely want to have met by a potential candidate. And even if your experience is informal. it s likely that you can map it to a more formal deliverable or analysis technique. Use the BA terms (appropriately) in your resume and in a job interview and you ll increase your chances of qualifying yourself for a business analyst role.
- Although managers screen for a specific set of core business analyst skills, they often hire for soft skills. such as relationship-building and the ability to communicate with a diverse set of stakeholders from the business and technical communities. Understanding the key soft skills you bring to the table is critical. Being able to speak to specific experiences where you used those soft skills in a BA context (or close to BA context) can increase the number of BA jobs you ll qualify for.
- Then there will be skills that set you apart as a candidate and qualify you for specific types of BA positions. These vary widely from technical skills, to specific business domain knowledge, to experience with specific types of business applications.
What Do I Do with My List of Business Analyst Qualifications?
Even with a list of transferable business analyst qualifications in hand, a transitioning BA can get understandably frustrated. What business analyst roles do these skills qualify you for? It can often seem as if the grass is greener on the other side of the proverbial fence .
- If you don t have an IT background, it can seem as if every possible BA job you look at requires some obscure technical skill you have no interest in building.
- If you do have an IT background, but no business experience, it can see as if every possible BA job you look at requires business domain experience.
While you will most likely find that the number of roles you aren t qualified for outweigh the number of roles you do qualify for, your career background will qualify you very strongly for a specific set business analyst jobs .
- If you have a technical background. consider BA roles that include systems analysis responsibilities or blend selected IT duties with a business analyst role. Your experience with specific technologies could qualify you for specific BA roles.
- If you have a business background from a specific functional area (such as customer service, human resources, or finance), consider BA roles working on the business applications with which you are familiar or supporting this area of the company. Your familiarity with the terminology and processes for that functional area could qualify you for specific BA roles.
- If you have deep experience in a specific industry. consider business analyst roles in that industry. Your understanding of the industry environment, terminology, and core processes could qualify you for specific BA roles.
To sum things up, the answer to the question about whether or not you are qualified to be a business analyst requires a bit of analysis. First, you must discover your business analyst skills. Then you want to map them to the types of roles you see in your local job market. Most likely, you will find yourself to be very qualified for some roles, partially qualified for others, and not at all qualified for still others (and this last set will most likely be the biggest, and that s true even for BAs with formal experience).
With this information in hand, you can decide how and if to move forward in your BA career. And keep in mind, just like those I work with on their career transitions, it s quite possible and actually very likely that you have more relevant experience than you think, and you won t realize what those qualifications are until you go through a skills discovery process .
Find Your Path Into a Business Analyst Career
After reading and working through the exercises in How to Start a Business Analyst Career. you’ll know how to assess and expand your business analysis skills and experience.
This book will help you find your best path forward into a business analyst career. More than that, you will know exactly what to do next to expand your business analysis opportunities.
Click here to learn more about How to Start a Business Analyst Career
Stay informed about new articles and course offerings.
#online business courses
10 Places to Get a Free Business Education Online
Getting a business education doesn’t have to be expensive. An increasing number of colleges, universities and even nonprofit organizations offer free business courses online. Find out how you can sign up for these courses and what you can get from them.
Online Business Courses for Credit
Online business courses that don’t require students to register or pay tuition are plentiful, but these courses don’t lead to college credit. Students who would rather earn credit for the courses they take online might want to consider resources that charge a fee in exchange for access to online course materials.Study.com offers this form of distance learning through its quick and informative video lessons and corresponding self-assessment quizzes. Students also have access to free transcripts for the video lessons.
Students can start with Business 101: Principles of Management which include chapters like:
- Management Basics – Study different managers’ roles and examine the four functions of management.
- Leading in Organizations – This chapter explores the difference between leadership and management and how the two work together. Various leadership styles are also covered.
- Marketing Philosophies and Ethics – Learn about marketing versus sales, corporate responsibility and cause-related marketing.
- Consumer Decision Making – Topics include consumer behavior theory, the purchase process, cognitive dissonance and consumer buying influences.
- Network Systems Technology – Examine client/server systems, network operating systems and wireless computing devices in this chapter.
- Systems Development – Subjects include life cycles, graphical user interfaces, application development processes and project management tools.
Free Online Non-Credit Business Courses
Massachusetts Institute of Technology
MIT OpenCourseWare might be the next best thing to getting an MIT education for free. Through these free online publication, students can find bachelor-level and master-level courses business courses offered by MIT’s Sloan School of Management
- Undergraduate and Graduate Business Courses include online lecture notes, videos, labs demonstrations and more. No registration is required and more than 150 courses are available.
The U.S. Small Business Administration
The Small Business Administration has one of the best selections of business courses on the web. Topics include everything from starting a business and business management to government contracting and international trade. Most courses take only 30 minutes to complete.
- Financing Options for Small Businesses centers around determining financial needs, loans, grants, venture capital, angel investors, crowd funding and more.
- Strategic Planning looks at the significance of strategic planning while breaking down the steps of the process.
Free Management Library
- The Free Nonprofit Micro-eMBA(SM) Program is a great resource for students wishing to learn more about nonprofit management. Completion of this program will not result in an MBA degree, but enrollment is free. The amount of time it takes to complete the program will depend on how fast you learn, but you may expect to spend at least 200 hours on coursework.
University of California Irvine
The University of California Irvine offers several free business courses in English and Spanish through their OpenCourseWare site. Courses are broken down into lessons, and include optional reading lists for students who want to dig deeper into the course subjects.
- Fundamentals of Business Analysis focuses on the function of a business analyst within the operating of an organization.
- Training and Human Resource Development breaks down the information and experience needed to pick out an organization’s training and development needs while looking into the related processes.
Financial Management Training Center Courses
The Financial Management Training Center provides 20 free downloadable business courses for people who need to learn the finer points of financial management. All courses can be taken online. They include full exams as well as evaluation forms for people seeking Continuing Professional Education (CPE) credits.
- The Management of Capital provides a basic overview of navigating a company’s financial structure.
- Creating Value through Financial Management serves as an introduction to concepts related to Value Based Finance.
- Project Management introduces the concept and components of project management.
Kutztown University – Small Business Development Center
- Strategic Planning and Execution Course presents strategies for crafting and executing business visions, mission statements and goals. The SBDC also provides strategic planning software free to all course participants.
University of California Berkeley
The University of California Berkeley offers a new selection of business courses each semester. Courses are lecture-based and typically include either audio or video or both.
- Business Administration Videos are uploaded to the school’s YouTube page often. Videos are presented by leading business experts such and cover topics like leadership, investment strategies and behavioral economics.
- Introduction to Probability and Statistics for Business teaches students about descriptive statistics, probability models, confidence intervals, controlled experiments vs. observational studies, tests of significance, correlation and regression.
The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.
An admission advisor from each school can provide more info about:
- programs curriculum
- career opportunities
- tuition financial aid
- admissions starting dates
1 Southern New Hampshire University
Minimum eligibility requirements:
- Must be a high school graduate or have completed GED
Get Started with Southern New Hampshire University
2 Kaplan University
Minimum eligibility requirements:
- Must be a high school graduate or have completed GED
- Graduate faster & save money with Study.com transfer credit
- Doctor of Management in Organizational Development and Change
- Doctor of Management in Project Management
- Doctor of Management (DM) – General Concentration (Executive Format)
- Doctor of Management in Leadership
- Doctor of Management – Nonprofit Leadership (Executive Format)
- Master of Business Administration
- MBA in Entrepreneurship
- MBA in Project Management
- Bachelor of Science in Accounting
- Bachelor of Science in Business Administration – International Business
- Bachelor of Science in Business Administration – Management
- Bachelor of Science in Business Administration – Marketing
- Bachelor of Science in Business Administration – Human Resource Management
- Bachelor of Science in Business Administration – Organizational Behavior
- Associate of Science in Business Administration
- (BS) Accounting
- (BS) Business Administration
- (BS) Business Admin – Asset Management
- (BS) Business Admin – Human Resources
- (BS) Business Admin – New Media Marketing
- (BS) Business Admin – Technology
- (AAS) Business Management & Accounting
5 Tips for Starting a Successful Business
When you start your own business, you re certain to hear a lot of different advice. Most of it will come from people who don t know the first thing about running a successful company. Turn to the internet, and you ll be overwhelmed by a multitude of articles and lengthy lists on the subject. Don t make the mistake of overthinking and overanalyzing it all. A few simple steps now can start your business down the path toward success. Here, we outline the five basic tips we ve followed to help us run our company.
1. Begin with a detailed plan.
This one is a must: Develop an in-depth plan that fully details how you ll attack the challenge ahead. Your plan should define any opportunities you ve identified, clearly state your mission, describe your target, establish measurable goals, and set deadlines for each milestone along the way. Remember that while it s important to have a plan, it s equally vital to be flexible enough to pivot when needed.
2. Get out there and network.
Our business would not be where it is today without all the professional networking we did when we first started. We continue to emphasize networking today. Until you ve established your business, you ll need to create your own word-of-mouth. Be your own brand ambassador, touting the benefits of working with your business and showing why people should give you a chance.
Start your own momentum. A wealth of events, trade shows, and networking groups exist to connect you with other professionals. These initial connections can lead to future business prospects, mentors, and strategic partners with the capacity to help grow your business.
3. Surround yourself with the right people.
The right mentors and strategic partners aren t the only people with whom you ll need to align. Surrounding yourself with a great team is equally important. Build your staff with smart, talented, and driven employees who share your vision. They can not only transform your business but also accelerate its growth. Hiring positive, can-do employees helps create a culture that encourages teamwork. Foster an environment in which everyone participates, so you can collectively celebrate your company s successes.
4. Stay ahead of the curve.
You can t afford to be rooted in the present and solely focused on the day-to-day. It s crucial to keep one eye focused on the future, including upcoming movement in your industry. If you aren t anticipating the next big thing, you re destined to fall behind. Successful business owners study trends and anticipate what s coming around the bend. This allows them to nimbly adapt and evolve.
Stay current on emerging issues in your field by faithfully reading trade magazines and websites. Keeping pace as your industry changes assures you ll have your finger on the pulse to predict what customers will want — and which direction your competition might move.
5. Find a healthy work-life balance.
Running a successful business requires an inordinate amount of time and energy. It s paramount to find a healthy work-life balance, even though it can be a challenge to do so. It s easy to let work dominate your life. Don t. It could result in your losing touch with those whom you consider most important. It s also crucial to take care of your own health and well-being. Your business can t run without you. You might believe you need that perpetual hustle to stay sharp and succeed. But that pace can and will burn you out, ultimately limiting how much you can achieve if you don t take time for yourself.
Find ways to maintain perspective and preserve healthy relationships outside of work. Set aside time to get your body active in ways that energize and invigorate you, and schedule catch-up time with friends and family. They ll help recharge your batteries and inspire you to persevere as you dream even bigger.
Copyright 2016 Entrepreneur Media, Inc. All rights reserved.
#sell my business
How to Sell a Small Business Fast
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How should business owners prepare for this big event?
How to Sell a Small Business Fast
Matt Kelly, managing director of North Point Advisors, a San Francisco-based mergers and acquisitions advisory firm that specializes in restaurant and consumer brand transactions, says that the best way for business owners to achieve a successful outcome is to first be really clear on transaction objectives.
“No two transactions are alike. For some owners, success is selling 100% of a business and heading for the beach. Other owners want to sell a portion of their company but remain involved in helping the company achieve even bigger goals. When you know what you want to achieve, it’s easier to line up the right prospective partners,” commented Kelly.
Kelly also says that part of the process of preparing a company for a sale is for business owners to be honest about company weaknesses long before potential buyers ask tough questions.
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“Investors will spend several months pouring over a company’s business records and market position. They will find the problems. If business owners don’t have good answers, buyers can walk away or substantially lower deal pricin,” says Kelly.
Of course, when looking to sell a small business fast, the key to a lucrative sale is attracting interest from a number of potential business buyers or investors. There are two types of buyers for prosperous businesses: financial buyers and strategic buyers.
Financial buyers include private equity or buy-out funds that like to take controlling interests in companies that have the potential for another good growth spurt. Their typical investment horizon is three to five years, with IRR financial return objectives in the mid 20 range.
Strategic buyers tend to be longer-term investors and can include any business that would benefit operationally from owning all or a significant stake of a business. Often, strategic buyers are competitors, large customers or other businesses that need to expand their operating capabilities, intellectual property portfolio or customer relationships.
Here are four more recommendations to help sell your company fast:
Develop a target list of acquirers. Even if your company will be represented by an investment banker, it’s helpful to think about likely candidates to buy your business long before you want to sell your business.
The purpose of developing this target list is to start thinking like a buyer. What attributes of your business will make it more or less valuable to potential buyers? Is it your operating facilities, know-how, ability to serve varied types of customers, or financial performance? All buyers tend to bid up businesses with industry leading profitability and a narrow range of competitors.
Visit your accountant. Every business in America has Uncle Sam as a business partner. Before negotiating any deal with prospective buyers, it’s important to learn what types of transactions may boost your tax obligations. Ask your accountant if it is more advantageous for you to sell the assets of your company (often a preference of business buyers to reduce the risk of buying hidden liabilities) or sell shares of company stock.
Prep your company for sale. In the same way home owners spruce up their homes before talking to rental agents, business owners benefit when they have the opportunity to unload unprofitable customers, cut unnecessary expenses, and build up areas of perceived business value. Do everything you can to build consistency into your company’s financial and operating performance. Also make sure all tax obligations and filings are current and your accounting records are clean for potential buyer review.
Select your support team. Take good care interviewing law firms that will represent your company during sale negotiations. Also if you decide to hire an investment banker to solicit potential buyers, make sure the intermediary has the prestige and expertise to represent your company well. The key to a good intermediary is smart deal positioning and the ability to get return phone calls.
Well-respected investment bankers also help owners sort through their options without any pressure to make fast decisions. “The decision to sell a company or enter into long-term relationships with financial investors or strategic buyers is very personal. It can’t be rushed,” commented Kelly.
#simple business plan
Writing a simple business plan
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Writing a Business Plan – United States Department of
The “how to write a business plan” guide. During this Global Entrepreneurship Week, plenty of people Writing a business plan is a vital discipline.
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A Remarkably Simple Business Plan – Copyblogger
Simple is always best. So with this in mind, here’s our guide to writing a business plan that won’t make potential investors want to tear their hair out in confusion.
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Business Plans Made Simple: A Step-by-Step Guide to
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