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10 Ways to Increase the Value of Your Business
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Transcript
Andrew and Jessica bring the perfect episode for those of you who have a business and consider the possibility of selling it in the future but are also looking for possible ways to increase its value. People always want more money for their business and these 10 ways to drive value are very easy to put in place and in a period of one to three years, the result will be visible on the valuation. If you get all 10 of these suggestions right, you are going to be in a great position to sell your business!
Listing of the week: Thomas Milana (South Florida). Costa Rican Escape Room, located in Jaco, great business for an expat who might be living there or wants to move. Operating for one year. Gross sales $76,000. Estimated $60,000 in yearly profit. Great location. Price: $99,900, negotiable and offering owner financing. Call Thomas at 1-561-702-6867 or email [email protected].
Key Takeaways
[2:38] 1 — Keep good books and records to be able to show your income.
[5:21] 2 — Grow your earnings before you sell.
[8:18] 3 — Minimize putting personal expenses into your business (and if you do, be able to identify them).
[10:35] 4 — Have proper management staff in place.
[13:03] 5 — Have the capacity to grow.
[16:33] 6 — Hire a great CPA partner.
[18:34] 7 — Increase your bottom line since it will increase your multiple.
[20:57] 8 — Keep everything in good repair.
[23:08] 9 — Control, manage and document inventory.
[26:15] 10 — Keep good books and records to be able to get your business financed.
[31:02] Deal of the week: Marc Lazarus (Passaic County, New Jersey). Dry Cleaning Business. Gross sales: $2.4 million, STE: $550,000, Price: $1.75 million, sold at $1.6 million. The buyer was one of the original sellers, six years ago.
[35:15] Listing of the week: Thomas Milana (South Florida). Costa Rican Escape Room, located in Jaco. Operating for one year. Gross sales $76,000. Estimated $60,000 in yearly profits. Great location. Price: $99,900, negotiable and offering owner financing.
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