North Star Business Systems
Business For Sale Toolkit
Frequently Asked Questions
Why not just ask my attorney or my accountant what my business is worth?
Small business owners usually have no idea what their business is worth. They ask their accountant or their lawyer for help. Accountants and lawyers are trusted advisors. But they don't sell a business very often. They may know a 'rule of thumb' for your business. But they usually don't know much about the current market for selling a business.
I've seen business valuation packages offered elsewhere. Why should I buy this product instead?
There are many valuation methods that don't work properly for small businesses. Our products employ the proper valuation estimation formula for owner operated businesses. Our proprietary algorithm corrects inconsistencies that arise from the misapplication of that formula.
What about valuation methods that consider comparable businesses?
It is hard to tell if a comparable business is really like yours. These data can be several years old. They may not match current market conditions. The Real Estate industry has been saving home value data for a very long time. Valuing a home entails searching for comparable houses. The Business Brokerage industry has very little 'comparable' data. This approach to valuation isn't going to be much help.
What's so important about learning the business sale process?
Many sellers are concerned that since they lack of knowledge about this process they might leave money on the table. Sellers who use the Exit Strategy System will substantially reduce that risk.
Is this an expensive product?
This product is a great value. The current minimum for a broker's services is somewhere between $10,000.00 and $12,000.00. Usually, a broker will charge between 10% and 12% of all consideration you receive for your business if your business will sell for less than $1,000,000.00. This product introduces you to that knowledge for pennies on the dollar.
Why is this business broker knowledge important to me?
It is important because this knowledge will prepare you for the sale of your business. It will help you to avoid common pitfalls in the process that could cost you a lot of money. It will also put you at a competitive advantage in the negotiating process. This product is a road map to help you invent your exit strategy from your business.
I'm a pretty good negotiator. Why do I need this product?
You probably are a good negotiator if you've run a successful business. But the sale of a business doesn't happen everyday. You may have thought about a strategy for selling your business. But you probably haven't examined all of the many ways to structure the deal. The Exit Strategy Software will introduce you to the advantages of many possible deal structures you may not have considered before.