BayState Business Brokers was proud to sponsor the Exit Planning Exchange (XPX) Summit in Boston recently and I was honored to be a panel member discussing how to transition a family business.  The focus of the recent summit was on how business advisors can help their clients prepare to sell their business. Preparing to sell a business is a significant undertaking and for most business owners, this is a once in a lifetime event. As a financial planner, wealth manager, CPA, business attorney or other trusted advisor, your client is going to rely on you for advice and guidance. And for most ..read more

It’s an interesting business brokerage market right now with: Time from going to market to securing a letter of intent (LOI) is shorter. Lenders are aggressively seeking to lend. Buyers are in abundance. So, what’s the problem? The problem is the buyer market is getting bogged down with what we call search funds. Many buyers operating through a search fund have limited professional experience and capital and are relying on investors. We are especially seeing this in the lower middle market where the number of buyers expressing interest in a business listing and signing an NDA is growing expo ..read more

I recently attended the International Business Brokerage Association (IBBA) national conference in Louisville, KY and a hot topic of discussion was artificial intelligence (AI) tools brokers can use to do our jobs better and faster. Obviously, this is not a surprise as you can’t read any business publication without an article on AI and its expected impact on our lives and scores of industries. The IBBA prompted great discussion about the applications of AI in business brokerage, and challenged each of us to think about adopting various AI applications and tools in our business models going fo ..read more

Selling one’s business is one of the most major decisions a business owner will make. For most of our clients, selling is a significant milestone, and they are relying on us as business brokers to help them through the process, quarterbacking all the various phases of the process from marketing the business to securing financing, due diligence process and transitioning to new owners. I recently co-led a session with an investment banker where we spoke to trusted advisors of business owners, sharing insights and tips to help them help their clients get ready to sell. Watch the video here. If we ..read more

For most business owners, selling a business is a once-in-a-lifetime experience. While there are certainly exceptions with serial entrepreneurs, for most this is not a common experience. And that leads to uncertainty and concern. You have spoken to your accountant, attorney or trusted friend and been told to hire a business broker. Usually, they refer you to a firm and a business broker. If they provide you with more than one name, how do you decide who you go with? This is new territory, you trust the referral sources, but how do you make the decision on who to work with? You want to find som ..read more

As we settle into the New Year, we look ahead with much optimism. The pandemic is in the rearview mirror and businesses are back to business, with some sectors exceeding pre-COVID performance. Interest rates are expected to decline this year as the Federal Reserve holds steady. It looks as though 2024 could be a ‘normal’ year in many ways, as well as a year of growth. Between individual, strategic and private equity buyers, there are many buyers looking for solid businesses to buy. Healthy companies are still commanding strong multiples, and we expect this will continue in 2024. Baby Boomers a ..read more

You own a business. You wear many hats and are constantly juggling priorities. You have an attorney and an accountant as trusted advisors. For most business owners, the thought of selling your business is overwhelming. We understand as we work with business owners who initially feel overwhelmed. Our job and our passion is to quarterback the process from start to finish so you are not overwhelmed, but instead informed and supported every step of the way. Recent research of business owners reminded us of the value we offer business owners every day: our commitment and passion for helping you ach ..read more

There has been a lot of professional burnout in the aftermath of the pandemic. We see it regularly as business owners come to us seeking to sell their business to make a change along with many buyers who contact us interested in buying a business to launch a new career. Are you thinking of changing careers or starting something new? If you have experience in sales, professional services or are a former business owner, you should consider becoming a business broker. Being a business broker at BayState Business Brokers offers the following career advantages: Meaningful work: Being a business br ..read more

Deciding to sell a business is one of the biggest decisions a business owner makes. At BayState Business Brokers we help business owners evaluate if now is the time and if so, how to prepare so we can market the business to find the right buyer and maximize value. As we work together, we ask one thing of our sellers – do not take your foot off the gas! What do we mean by ‘taking your foot off the gas’? By this we mean stopping marketing, selling and working on the business that you have worked so hard to build. From the point you decide to sell to the time the transaction is complete, you need ..read more

Home Health Care businesses are well positioned for continued growth as a result of many factors. Aging baby boomers have caused a spike in demand for home health care services, and with the risks of Covid-19, more people are opting to live at home versus a facility with increased risk from the virus. There are approximately 75 million Americans categorized as baby boomers and every year for the next 20 years, approximately three million will retire. With the “great resignation,” the pace of retirement accelerated during the pandemic as baby boomers and those in younger generations opted for r ..read more