Have you done a PRE-mortem on your business?
An unfortunate reality about our business is that we get too many calls from the families of unprepared business owners as they deal with a tragic loss. Just a few weeks ago, the brother of a business owner called us – his brother had passed away suddenly, leaving the company in turmoil. Customers and employees were calling, and nobody was even sure where the office keys were. While we were able to assist in a collaboration with a friendly competitor to help with jobs in progress, the business value quickly eroded as potential purchasers left to find alternative suppliers. Additionally, the experience was extremely stressful for the surviving family, left […]
VEER Supports Several Successful 2017 Business Transitions
Management Buy-ins, Partner Buy-outs and Outright Exits 2017 has been a busy year for VEER and our clients. While several other engagements continue, on track to achieve the transition objectives of our business owner clients, we thought we would share a few happy stories from the first six months of 2017: We met “Jack”, owner of a Fraser Valley horticulture company, at a conference in June 2016. Jack was interested in selling a division of his company, while continuing to run the rest of the company for a few more years. We completed a Value Enhancement and Exit Readiness Assessment, which included our estimate of how purchasers would value the division, an […]
Event: Business Transitions Roundtable – Langley – June 8, 2017
Thinking of exiting your business within the next 5-10 years? Selling your business should be one of the most exciting and rewarding events in your lifetime. But recent surveys show that for many business owners, the process is unsatisfying, and sometimes downright disappointing. They discover that the business value is not what they expected, and that the process is complicated and filled with trap doors. Attend our Langley Business Transitions Roundtable Event On Thursday, June 8, 2017, meet with experienced advisors for a casual roundtable-style information session on the key topics surrounding business transitions preparation. Hear from the following local professionals: Business Law Bruce Hall, LLB, BCom, Lawyer, MacCallum Law Group LLP […]
Who Will Buy Your Business? (And how can you get them to pay more for it?)
So the time is coming, in the next couple of years, to sell your business and enjoy the next stage of your life. In your future, nothing but sunny days and sunset margaritas, as you live off the value built over years and years of blood, sweat and overcoming fears. Over the past couple of years, we have met with dozens of business owners in the same position, and very few have a clear idea of who will buy their business. So let’s talk about the five most common business buyers: Private Equity When comparing the size of business buyers’ pools of money, private equity is like the Pacific Ocean. […]