Unprecedented change. Challenging times. New normal. Pivot.
Trust us, we’d like to retire these overused buzzwords from 2020 for good, but there’s no denying that it’s been a rough few years here in Alberta. The prolonged oil and gas downturn, and now the pandemic, have been difficult for Alberta and specifically for Calgary.
Many Calgary-based business owners are expediting retirement plans or reassessing their long-term ownership plans in response to the struggling economy. As uncertainty continues, some business owners are faced with hard decisions and are looking for expert advice on how to sell a business in Calgary.
Here’s the good news: business owners need not feel like they’re jumping in without a parachute. An experienced business broker will work in tandem with you throughout the entire process of selling your business.
As a boutique business broker serving Alberta business buyers and sellers for over 12 years, Alberta Business Sales delivers a high-touch approach and leverages a broad network of connections that has helped sell over 400 businesses.
We’re here to help you navigate every aspect of the business selling transition so that you land on your feet, ready for whatever new challenges and excitement life has in store.
Who Can I Trust to Help Sell My Business in Calgary?
Selling a business is up there with some of life’s most emotionally-charged moments— like dropping off your child on the first day of school, or moving out of your family home.
Over the years, you’ve invested your blood, sweat, tears, and money into growing your business. When it comes time to hand over the reins, you want someone who will not only negotiate the best deal on your behalf but is also committed to helping you through the journey with honesty, integrity, and a personal investment in delivering the best outcome for you and your business.
To this end, Alberta Business Sales is thrilled to introduce Sharon Shore as our Calgary-based business broker. Clients appreciate the genuine warmth, candor, and enthusiastic energy that Sharon brings to the business selling process.
And with over 35 years of experience as a business owner herself, Sharon knows firsthand what it’s like to watch your business baby grow and change. She has a keen understanding of the specific challenges in the Calgary market and draws on her wealth of knowledge and a strong network of contacts within Calgary and beyond to assist her clients.
Sharon’s Tips for Selling a Business in Calgary
1. Calculate the value of your business
Regardless of where or when you’re selling a business, one of the most important considerations is calculating an accurate valuation of your business. The process of valuation is like an overall performance check for your business and can highlight strengths as well as uncover opportunities that will ultimately lay the groundwork for a successful sale.
Alberta Business Sales will undertake a thorough valuation and provide you with a Broker Opinion of Market Value (BOMV). Before embarking on the official valuation process, it can be really helpful to estimate the value of your business with our free business valuation calculator.
Are you interested in selling your Calgary-based business? Calculate the Value of Your Business Before You List with our Free Business Valuation Calculator
2. Be realistic in today’s market
Client’s often ask us, “How can I negotiate a good deal in today’s market?” It’s a tough but important conversation to have and transparency is key.
Yes, these are crazy times but in reality, investors with capital are still looking for opportunities regardless of what is happening in the market. And some businesses, particularly those in key industries like delivery, online education, and e-commerce have seen values on the rise in the past year.
Selling a business in 2021 presents new challenges, but also opportunities. With the right guidance and advice, many owners will be able to position their businesses for sale.
3. Consider financing challenges for potential buyers
In a slower economy, lenders tend to tighten the purse strings, making it more difficult for qualified buyers to obtain financing. This is an area where Alberta Business Sales particularly excels as our brokers can help facilitate buyer financing options by working with a broad pool of potential financing partners.
4. Don’t settle for a one-size-fits-all approach to selling your business
Every business sale has unique challenges that require unique solutions. That’s where Alberta Business Sales has a major advantage. By nurturing relationships with our clients and offering a personalized approach to the process from start to finish, we’re better positioned to find the best fit between buyer and seller.
5. Depersonalize negotiations
In many cases, this is easier said than done. Even after you’ve gone through the valuation process and come up with a target selling price, negotiating with potential buyers can be frustrating and deflating. A business broker can advocate and negotiate on your behalf without letting emotional attachment get in the way.
Have questions for Sharon about selling your Calgary business?l