When Scott and Darren purchased Luxe Home Interiors from Mike Lenz 14 years ago, they had no idea what a significant impact he would have on their journey. Owning Luxe for 13.5 years, Scott reflects on Mike’s invaluable assistance throughout their ownership. “Mike has been a tremendous help to us
When buying businesses, due diligence doesn’t simply mean dotting your Is and crossing your Ts—it’s a safety net to help you avoid costly surprises. Buying a business is about knowing precisely what you’re getting, not just liking the idea. Due diligence is the investigative process that uncovers the good, the
Selling a business is a big deal, both figuratively and literally. Whether you’re dreaming of a tropical retirement or moving on to your next entrepreneurial adventure, you probably have a lot of questions. Here are quick takes on 20 common questions we get: 1. How long will it take to
Small and medium-sized enterprises (SMEs) are the unsung heroes of the Canadian economy. They make up 99.8% of businesses in the country, employing over 10 million people and keeping communities thriving. Basically, if small businesses had capes, they’d be flying around saving the economy on a daily basis. Whether you’re
Why Clean Financials Can Boost Your Business Sale Price by 20-30% If you’re a business owner considering selling, you’ve likely heard the term “clean financials” thrown around. But what does it really mean, and why does it matter so much? Here’s the deal: businesses with well-organized, accurate financial records can
Negotiating the sale of your business is a lot like performing a high-wire act, there’s a fine balance to maintain, and one misstep could send the deal tumbling. But don’t worry, with a few key strategies, you can keep things steady and secure a deal that benefits everyone involved. Let’s
If you’re considering buying or selling a small business, you’ve likely noticed that market conditions can feel a bit like a roller coaster lately. Shifting interest rates are playing a starring role in shaping how deals are done, influencing everything from valuations to financing options. For buyers, the rising cost
When you think about buying a business, romance might not be the first thing that comes to mind. After all, one involves balance sheets and profit margins, while the other is all about emotions and commitment. But, surprisingly, the process of buying a business has a lot in common with
When selling or buying a business, financing the deal can often feel like navigating a maze. One term that pops up frequently is “vendor note,” leaving many buyers wondering: what is it, and how does it work? This short read dives into one of the top FAQs we receive, breaking
