Selling a business can be one of the most significant and complex decisions an owner will ever make. Whether you’re moving on to new ventures, planning for retirement, or simply ready for a change, the process is fraught with potential challenges and pitfalls. In this blog, we’ll uncover the top

As we roll into 2024, the market for buying and selling mainstreet businesses is buzzing with activity and a few surprises. Whether you’re a seasoned entrepreneur or just dipping your toes into the market, these trends will help you stay ahead of the game. ‍ Increased Use of Technology Digital

Back in August 2023, Ramon, Partner at Chinook, helped Kevin Wilson bid farewell to his franchise business, Jiffy Lube. We recently caught up with Kevin to get a glimpse into his post-sale journey. Kevin shared a revelation: the hustle and bustle of managing the business had kept him and his

As you prepare to cash in on your blood, sweat, and spreadsheets by selling your business, it’s time to reduce owner dependency and make your venture irresistible to potential buyers. Here’s a 10-point checklist to get you prepared:   1. Document Standard Operating Procedures (SOPs):‍ Create a comprehensive manual outlining

When Valine Wheatley, the new owner of Eden Street Salon & Spa, reflects on her career journey, she doesn’t frame it as a full circle but rather as a transformative evolution that started in her late teens. Recalling her initial encounter with the facility, Wheatley shares, “My mom brought me

Having a succession plan in place when selling a business is crucial for several reasons, especially when you anticipate transitioning within the next 1-5 years. Here are some key reasons why succession planning is essential:   1. Smooth Transition: A well-thought-out succession plan ensures a smooth and seamless transition of

Business owners are usually too busy running their business to deal with the fact that retirement will arrive one day. Ultimately, every business owner walks away from their business. The sooner you start preparing for that day, the better off you’ll be. Whether it is an established location, relationships with

Why should I start exit planning? Every business owner eventually leaves their company. Some owners leave voluntarily (retirement, career change), while others do so based on market changes, circumstances beyond their control, or because of countless other things. As an owner, you are the champion of your business and it’s

If you’re contemplating the sale of your business, the decision to enlist the services of a business broker can significantly impact the process and outcomes. Here are five reasons why engaging a business broker can enhance your chances of closing a deal successfully: 1. Experience and Focus Business brokers specialize