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We’ve had this conversation more times than we can count: an owner is finally ready to sell, but the business they’re bringing to market is no longer the business buyers would have paid a premium for three years earlier. The business has been good to them. They’ve built something real. But when we dig into the financials, the picture is softer than it used to be. Revenue has plateaued. A couple of key people have left. The owner pulled back

  Ask a business owner what their company sold for and they’ll give you one number. Ask them what they actually walked away with — after debt payoff, taxes, the working capital adjustment, and the seller note that’s still being paid down — and you’ll get a very different answer, usually accompanied by a story. Here’s the uncomfortable truth from the intermediary’s side of the table: two offers with the same headline price can differ by hundreds of thousands of

When a business changes hands, the lease attached to it can be just as important as the business itself. This is especially true for restaurants, retail stores, salons, and other companies that rely heavily on location and customer traffic. A strong location can add value to a business. However, the downside of the equation is that a problematic lease can create unexpected headaches for both buyers and sellers. For anyone considering the purchase of a business, reviewing the lease should