May 2, 2019
Determining When is the Right Time to Sell Your Business

When is the Right Time to Sell Your Business? The 3 Determining Factors

Recently a prospective client asked me, “Justin, how will I know when is the right time to sell your business? Is it really possible to know?” Looking around right now we know the real estate market is up. Stocks are booming. This perhaps also encourages you to ponder the sell of your business. Determining your answer isn’t cut and dry. It needs to be broken down into a couple of different areas helping you answer your perfect time.
April 10, 2019
Selling a Business with Debt

Selling a Business with Debt: Is it Possible? Yes But…

Oftentimes, business owners do not think about the liability side of the business sale. What happens to your business debt when you sell your company? Will the buyers assume the debt? Will you use proceeds from the sale to pay-off the debt? What if your debt scares away potential buyers? If you are preparing to sell your business within the next five or ten years, any existing debt or any new debt you take on is going to create risk in your company. An increase in risk can lead to a decrease in business value. So before you finance another piece of equipment or before you utilize a business line of credit, decide whether the increased risk is worth the potential decrease in value to your business.
March 14, 2019

Is it Time to Sell? Overview of Personal & Business Readiness

Selling a business is a major step many business owners take when they are ready to retire. Yet the question, “Are you ready to sell your business?” can send business owners into panic mode. Truthfully, you may never be emotionally ready to sell your business. After all, you’ve poured your life and soul into your business. However, you can make personal and business preparations now that will have you ready to sell your business in the future.
October 3, 2018
Exit Planning Institute's Leader of the Year

Justin Goodbread Named Exit Planning Institute’s Leader of the Year for 2018

For the last six years, the Exit Planning Institute has honored advisors working to make a lasting impact in the area of exit planning. For his contributions toward advancement in the exit planning arena, Goodbread was one of nine CEPAs nominated for the EPI’s 2018 Excellence in Plannings awards.
May 10, 2018
exit planning

What Exit Planning is NOT?

One of the topics I constantly discuss with Financially Simple visitors and clients, especially the ones who own businesses, is exit planning. To explain the concept to people, I find that it’s sometimes easier to tell them what Exit Planning is NOT. 
May 3, 2018
Ways a Purchase Agreement Protects Both Seller and Buyer

The Many MANY Ways a Purchase Agreement Protects Both Seller & Buyer – Post #31

In our Building a Sellable Business series, you’re finally ready to sell! Negotiations between your team and the buyer’s team are all wrapping up. However, the last step, the closing of your business sale, hinges upon acceptance of a purchase agreement by both buying and selling agents, and many sellers gloss over the details within it to get to the closing table as quickly as possible. But now is not the time to become lax. This article is designed to give you some of the many things to look out for as you review the hundreds of pages of legal “mumbo-jumbo.” After all, the wording in the purchase agreement protects you from legal or financial risk after the sale of the business.