Frequently Asked Questions

Advertising on BusinessBrokerJournal.com FAQs

Business Brokers and Agents FAQs

Selling A Business FAQs

1. How do I find out more about a business for sale?
If you want further information about a business for sale you must contact the seller or the seller's representative (an agent, broker or intermediary) directly via the site.
The information visible on the business-for-sale advert is all the information BusinessBrokerJournal.com has on the business in question. We are not a broker or an intermediary. We are an advertising medium, like a newspaper or directory, but on the web. So to find out more about a business for sale please contact the seller by completing the 'Contact this seller' form at the foot of the listing. Please note: the seller may then request more information from you before disclosing further information about their business. They may also ask you to sign a confidentiality agreement. Also called a non-disclosure agreement, this protects the seller against the risk of confidential information, such as financial records, falling into the wrong hands - i.e. the press or competitors.

2. Do I have to pay to register as a buyer?
It's free to register as a Standard Buyer. However, by paying a small fee you can become a Premium Buyer and enjoy additional benefits, such as getting the contact details of sellers sent back to you and being first to see new listings. Register as either a Standard or Premium buyer.

3. Why hasn't the seller replied to my enquiry?
Sellers and brokers/agents can be slow to reply because they check their enquiries infrequently, it takes time to prepare the information you have requested, or if they are on holiday.
Some brokers and agents will email you, some will send information through the post and others will give you a call, so check your post box, voicemail messages and emails regularly. Most agents will reply promptly, but even if they don't reply immediately, do not be deterred from making further enquiries.
To foster trust between buyer and seller we urge you to include as much information about yourself and the reasons for your interest in the business for sale as possible in your enquiry. Convince the seller or agent that your enquiry is a serious one and they'll be more forthcoming with information about the business. Agents and brokers should, and often do, reply to every request but reassuring statements such as 'I have assessed my financial means and this business is within my budget' or 'If I find the right business then I am in a position to put in a bid immediately' may lead to your enquiry being prioritised.
On average it takes up to one week for a seller or agent/broker to reply to your enquiries. If you have still heard nothing after one working week then our customer services team will be happy to try and contact the seller or agent/broker on your behalf or send you their direct contact details, if available.

4. What if a business advert contains insufficient/inaccurate information or the location is unclear?
While we do our best to ensure that all businesses advertised on the site are genuine, we do not create the listings. All information provided comes from brokers/agents acting on behalf of sellers and the sellers themselves. We encourage advertisers to provide as much information as possible, especially when it comes to the business's location. If you want clarification of any details in – or absent from – the advert then please complete the 'Contact the Seller' form.

5. How do I change or update my account details?
To change or update your account details, sign into your account with your username and password. Then you can track and maintain your listings, update your details or upgrade your advertising.
Sign into your account
Forgotten your username or password?
Contact Customer Services

6. How much does it cost to advertise a business for sale?
If you're a business owner or broker and you want to sell a business directly via BusinessBrokerJournal.com, you can choose from several advertising packages, including a limited free trial.

Advertising on BusinessBrokerJournal.com FAQs

Q: What is The Business Broker Journal Network
A: BusinessBrokerJournal.com was started in 2007 and is an interactive platform that brings together business owners, brokers and deal makers. BusinessBrokerJournal.com is more than an online marketing and advertising platform; our goal is to be the central location for buyers and sellers to exchange knowledge about all things related to small businesses for sale. We aim to connect to thousands of individual business owners, business brokers and agents, investors, and franchisees.

Q: Why should I use BusinessBrokerJournal.com to sell my Business?
A: The key to quickly selling your business for the highest price possible can be summed up in three words - Exposure, exposure, exposure! The most exposure you can get for your business the more successful you will be in trying to sell it. Because the added value benefit is that you will also get exposure on the PR4 website http://BusinessToBuy.net.

Q: Is there a commission or any additional fees if I find a buyer for my business on BusinessBrokerJournal?
A:Absolutely not. There are no hidden commissions or fees. Our advertised prices are all you will ever pay to sell your business on BusinessBrokerJournal. BusinessBrokerJournal is the most effect and least expensive method of reaching the right buyers and selling a business.

Q: How do I create a business for sale ad?
A: To create a new ad to sell your business, go to sell a business. Follow the directions to create your ad - determine which advertising program best fits your needs and expectations - there approximately 3 steps, and we accept all major credit cards to complete your ad placement process.

Q: Should I include the purchase price and other financial information in the ad?
A: Yes you should. Why waste anyone’s time and have him or her call you and waste your time if the price isn't close to what buyers are searching for. Also have someone assist you to realistically figure out the adjusted net income of the business (for the previous three years) - this is one of the most important numbers to potential buyers (and usually the price of the business is some multiple of this number). Some of the more successful business for sale ads include the last three years of numbers in the long description field: Gross Sales, Adjusted Net Income, Inventory Amounts, Accounts Receivable, Accounts Payable (if any), working capital required for a new buyer, etc. Put some effort into this information - it will make the sale of a business much faster and easier on everyone.

Q: When writing an ad for BusinessBrokerJournal what are the most important factors?
A:First you want to include as much possible information as possible (as much as confidentiality will allow provided that it is important) in your ad - talk about the history of the business, where its at now, and the potential in the future. Buyers also want to know about: lease factors, number of employees, geographic area, competitive factors, etc. We have found the advertisers who write a comprehensive ad are usually the ones who get the best response from the most number of motivated business buyers.

Q: How can I modify my business for sale ad on BusinessBrokerJournal?
A: You can update and modify your business for sale ad at any time - 24/7. To do so, go to the Advertising Log In page and enter your User Name & Password. You will then see your advertising account where you can revise your ad, see your advertising stats, emails received concerning your ad and other important data.

How long does it take for my new business for sale listing to be posted?
A: To assure quality listings, we review every new listing being posted. Your ad will appear immediately in the New Listings section while we make sure your new ad is placed in the appropriate areas and categories on BusinessBrokerJournal making it easier for potential buyers to find and contact you about your business for sale. An ad on BusinessBrokerJournal usually takes under 24 hours to get reviewed and fully distributed into our network!

Q: How will the sale of my business be kept confidential?
A: Most buyers will be understand they will need to sign a non-disclosure agreement before reviewing any information about the sale of your business. Only a limited amount of information should be disclosed prior to determining if the potential buyer is either legitimate or capable of completing the transaction.

Q: When is the right time to sell my business?
A: Timing is very important. Your business should be performing well and the likelihood that your customers will remain with the new business owner(s) should be good. The less uncertainty a buyer has to evaluate the better. Buyers will reduce their bid if an important contract may be expiring soon. In addition, buyers will want to be able to accurately predict the business's material costs. Advance planning is also an important part of making sure your business is performing well. Many times business owners manage their business expenses to reduce their taxes. Although this is certainly a legitimate business strategy, many times buyers rely on income as reported in the tax return to serve as the basis for valuing the business. Some experts thus recommend a more arms’ length approach to tax accounting in the years immediately prior to the sale of a business. It is also important to allow enough time for the transaction. If the seller has time pressures, he or she may have to accept a lower price. Another factor in finding the right time to sell your business is for you personally to be prepared for a significant change. As the owner and primary decision maker, you must be willing to separate yourself from your business. Other factors over which you have less control are the level of mergers and acquisitions activity in your industry and general economic trends.

Selling A Business FAQs

Q: What Benefits can I Expect?
A: BusinessBrokerJournal.com and BusinessToBuy.net together constitute an unparalleled Online Marketplace and Extensible Network that matches business buyers with sellers of existing businesses for sale. In addition, BusinessBrokerJournal.com offers established small businesses for sale, new business opportunities for franchisors by giving them the resources to assist in selling and buying franchises, informative articles, educational events, a syndicated informative blog, plus much more (we are always adding new content for our users)!

Q: How will the sale of my business be kept confidential?
A: Most buyers will be understand they will need to sign a non-disclosure agreement before reviewing any imformation about the sale of your business. Only a limited amount of information should be disclosed prior to determining if the potential buyer is either legitimate or capable of completing the transaction.

Q: When is the right time to sell my business?
A: Timing is very important. Your business should be performing well and the likelihood that your customers will remain with the new business owner(s) should be good. The less uncertainty a buyer has to evaluate the better. Buyers will reduce their bid if an important contract may be expiring soon. In addition, buyers will want to be able to accurately predict the business's material costs. Advance planning is also an important part of making sure your business is performing well. Many times business owners manage their business expenses to reduce their taxes. Although this is certainly a legitimate business strategy, many times buyers rely on income as reported in the tax return to serve as the basis for valuing the business. Some experts thus recommend a more arm's length approach to tax accounting in the years immediately prior to the sale of a business. It is also important to allow enough time for the transaction. If the seller has time pressures, he or she may have to accept a lower price. Another factor in finding the right time to sell your business is for you personally to be prepared for a significant change. As the owner and primary decision maker, you must be willing to separate yourself from your business. Other factors over which you have less control are the level of mergers and acquisitions activity in your industry and general economic trends.

Q: What does it mean to recast my financial statements?
A:When selling or valuing a business, it's generally a good idea to recast your financial statements (determining the adjusted net income of the business). This involves examining your financial statements to eliminate the effects of (i) having run your business to reduce taxes as much as possible; (ii) engaging in transactions with related companies on a non-arm's length basis; or (iii) otherwise shifting some expenses to the business which could also be classified as personal, if any of these actions differ from how the business would have been run if it were not closely held. The adjustments can increase or decrease the balance sheet, income statement, or other metrics upon which the business is valued.

Q: Will I have to finance the sale?
A: Some buyers may want to see a willingness on the seller's part to finance all or part of the sale in order to show that the seller has confidence in the ongoing prospects for the business. In other cases, the buyer is unable to get financing from any other sources. If your business is appropriately priced and packaged, the buyer should be able to get third party financing, and it should only be necessary for you to provide a limited amount of financing to show good faith. Frequently, seller financing helps the seller to get a higher overall price from the buyer. Recent tax changes may also have an impact on this decision.

Q: What should the terms of sale specify?
A: You should think about the terms you are willing to accept in addition to the price. Factors that will influence this decision include your personal financial situation and the financial health of your business. You should also be thinking about whether to specify an all cash deal or to offer seller financing, and what, if any, level of involvement you want with the business after the sale. You need to be flexible and willing to negotiate to increase the chance of selling your business on mutually agreeable terms.

Q: How much is my business worth?
A: When selling a business, you must evaluate and demonstrate its value. This usually involves assembling and analyzing the appropriate materials. For example, the buyer will want to understand your business' operations and past financial performance. Your financial statements and tax returns will play a significant role in establishing your business' viability.

Q: What type of information do I need to disclose to a buyer?
A: Only very basic information about your business should be disclosed to a buyer prior to their signing a non-disclosure agreement (\"NDA\"). An NDA can help protect the confidentiality of any information given to a buyer. Once an NDA is signed, the buyer can be given additional financial and operational information about the company in order to make an informed offer for the business. After an offer is accepted, a significant amount of detailed information will be required during the due diligence process ranging from a review of incorporation papers and other legal documents to a thorough review of accounting work papers and meetings with key employees.

Q: Should I utilize the escrow process to close my deal?
A: In our opinion if you don't utilize the services of an escrow company, you are asking for trouble later on down the road. The escrow fee should be looked at as insurance that the deal will run smoother and items that are respresented by all parties are documented. I have heard too many horror stories from buyers, sellers, and brokers/agents who wanted to save a little money or figured they didn't need to involve a escrow service to close their deal and got burned later on for not doing so.

Business Brokers and Agents FAQs

Q: What is BusinessBrokerJournal
A: BusinessBrokerJournal.com is an online marketplace that matches business buyers with sellers of existing businesses for sale. In addition, BusinessBrokerJournal offers established small businesses for sale, new business opportunities and franchises, franchise resales, resources to assist in selling and buying businesses, informative articles, educational events, a syndicated informative blog, plus much more (we are always adding new content for our users)!

Q: What does it cost to use BusinessBrokerJournal?
A: There is no cost to search and find businesses for sale. To advertise a business for sale there are many different programs to sell a business. In addition there are no costs to research resouces, read any articles or blog posts, or utilize the tools to buy or sell a business on BusinessBrokerJournal.com.

Q: How can I modify my business for sale ad on BusinessBrokerJournal?
A: You can update and modify your BizBen business for sale ad at any time - 24/7. To do so, go to the Advertising Log In page and enter your User Name & Password. You will then see your advertising account where you can revise your ad, see your advertising stats, emails received concerning your ad and other important data.

Q: When writing an ad for BusinessBrokerJournal what are the most important factors?
A:First you want to include as much possible information as possible (as much as confidentiality will allow provided that it is important) in your ad - talk about the history of the business, where its at now, and the potential in the future. Buyers also want to know about: lease factors, number of employees, geographic area, competitive factors, etc. We have found the advertisers who write a comprehensive ad are usually the ones who get the best response from the most number of motivated business buyers.

Q: How can I modify my business for sale ad on BusinessBrokerJournal?
A: You can update and modify your business for sale ad at any time - 24/7. To do so, go to the Advertising Log In page and enter your User Name & Password. You will then see your advertising account where you can revise your ad, see your advertising stats, emails received concerning your ad and other important data.

Q: Should I include the purchase price and other financial information in the ad?
A: Yes you should. Why waste anyones time and have them call you and waste your time if the price isn't close to what buyers are searching for. Also have someone assist you to realistically figure out the adjusted net income of the business (for the previous three years) - this is one of the most important numbers to potential buyers (and usually the price of the business is some multiple of this number). Some of the more successful business for sale ads on BizBen include in the long description field the last three years of these numbers: Gross Sales, Adjusted Net Income, Inventory Amounts, Accounts Receivable, Accounts Payable (if any), working capital required for a new buyer, etc. Put some effort into this information - it will make the sale of a business much faster and easier on everyone.

Q: What type of information do I need to disclose to a buyer?
A: Only very basic information about your business should be disclosed to a buyer prior to their signing a non-disclosure agreement (\"NDA\"). An NDA can help protect the confidentiality of any information given to a buyer. Once an NDA is signed, the buyer can be given additional financial and operational information about the company in order to make an informed offer for the business. After an offer is accepted, a significant amount of detailed information will be required during the due diligence process ranging from a review of incorporation papers and other legal documents to a thorough review of accounting work papers and meetings with key employees.

Q:How long does it take for my new business for sale listing to be posted?
A: To assure quality listings, we review every new listing being posted. Your ad will appear immediately in the New Listings section while we make sure your new ad is placed in the appropriate areas and catagories on BusinessBrokerJournal making it easier for potential buyers to find and contact you about your business for sale. An ad on BusinessBrokerJournal usually takes under 24 hours to get reviewed and fully distributed into our network!

Q: How do I remove my business for sale listing?
A: You can remove your business for sale ad at anytime by logging into your advertising account and making your ad \"inactive\". Feel free to email our customer support team, info@businessbrokerjournal.com, at anytime for any assistance.

Q: Should I utilize the escrow process to close my deal?
A: In our opinion if you don't utilize the services of an escrow company, you are asking for trouble later on down the road. The escrow fee should be looked at as insurance that the deal will run smoother and items that are respresented by all parties are documented. I have heard too many horror stories from buyers, sellers, and brokers/agents who wanted to save a little money or figured they didn't need to involve a escrow service to close their deal and got burned later on for not doing so.