Coronavirus - should you sell or close your business? - YouTube

if your consider of selling your business and  you're wondering if this is a good time or a  

bad time because of the corona virus pandemic  I have some good news for you surprisingly the  

business market is still very active and it may  actually go up because of the pandemic I'm Adriana  

Cowart mergers and acquisitions specialist and  business strategist and I am still receiving  

daily enquiries about all the businesses for sale  that I have on the market right now if you have  

been thinking about closing down your business  before this pandemic or right now this might be  

the best opportunity for you I talk to a lot of  people on the phone a lot of people are calling  

me right now trying to figure out what to do with  their business and a lot of them are considering  

just shutting down the business but when you  shut down the business as opposed to selling  

it you leave hundreds of thousands of dollars on  the table sometimes millions of dollars money that  

you could be making when you sell the business and  you might be thinking like a lot of other business  

owners that your business has no value but if you  are able to make a profit with your business if  

you are able to support your lifestyle with that  business then the business has value so if your  

business made a profit your business is sellable  and you could make when selling to three times  

the amount of your yearly income which could be  substantial if you made even just fifty thousand  

dollars a year profit from it you could be making  a hundred fifty thousand dollars when selling it  

or something in that ballpark as always before  we get started hit the bell and subscribe to  

our channel so you get notified when new episodes  become available here every Tuesday so now I will  

address a couple of misconceptions that prevent  business owners from even trying to sell their  

business many times one sometimes the business  owners think I don't make enough money with this  

business for this business to be worth anything  well if you are making money with the business  

there are two scenarios one of them if you're  making some profit any profit the business has  

a selling value but sometimes the business doesn't  make profit because the current owner doesn't have  

the right idea how to market the product and how  to get customers where somebody that's been in  

the in the three or simply thinks outside of the  box could make a killing with the same product so  

don't just assume that your business has no  value talk to a broker and let them look at  

your business and feel free to contact me I sell  businesses in Louisiana Georgia and Mississippi so  

if you are if your business is located any one  of these three states feel free to contact me  

my website it's jischke group.com as you see in  the corner of this video feel free to go to the  

website on the contact page and shoot me an e-mail  I'll take a look at your business let you know if  

it's sellable and I'll also give you a general  idea on what to expect as far as asking price  

the second misconception is that nobody's gonna  buy a business now when times are so uncertain  

this pandemic is very surprising in the way they  affect certain businesses and certain industries  

certain businesses are doing way better because of  the pandemic other businesses are hurting pretty  

badly when it comes to business selling there are  a lot more people looking now for an alternate way  

of producing an income and not depending on a  job because this has been very scary and also  

you will be open to a little bit of negotiation  if the alternative of not selling your business  

is completely losing it all say your business  it's worth five hundred thousand dollars but if  

you don't sell it you completely lose it you have  to shut it down and it's over but somebody offers  

four hundred thousand for your business you could  still be making four hundred thousand instead of  

losing and the buyer gains a business that would  be worth five hundred thousand dollars gains a  

hundred thousand dollars profit in it you know  so it is a this kind of situation it's a win-win  

situation and it's a great time actually to have  your business on the market third misconception  

my business is not even operating right now no one  is going to buy it unless it's in operation now in  

reality when the economy is going good and nothing  triggers panic the way it's triggered right now if  

you shut down your business you can only sell  the assets because you no longer have business  

but right now the smartest thing for you to do  it's to be careful the way you stop operation if  

your business cannot operate right now and you are  still paying your employees there are several ways  

you can go about it so you do not lose value in  your business so one of them is of course to keep  

your employees and pay them the full salary or a  lower salary and tell everything picks up but keep  

your employees that way the business stay intact  and it maintains the value like before the second  

way to go about it it's to let your employees go  and maybe guide them a little bit on how to apply  

for unemployment but let them know that as soon as  the pandemic is over they have their jobs back and  

you will do everything you can to make it good for  them and to make up for this the third option is  

to apply for the payroll stimulus package that's  available right now I don't remember the name  

exactly but I have a link from an instruction  video about it that is amazing so I will post  

the link under the video if a small businesses  Administration offers payroll for your employees  

I think up to the end of the year maybe not the  entire payroll amount but a substantial amount so  

that way you can keep your staff on staff I know  the times are really scary right now everything  

is very stressful but again I get inquiries every  single day a lot of them about the businesses that  

I already have for sale so before shutting down  your business give yourself a chance to make some  

really good money a return on investment for all  the hard work and all the time that you have put  

in your business give me a call send me an email  go to Trischka group comm send me an email and I  

will help you figure out if you should sell the  business or you know it's better to just shut it  

down also I have something else that it's going to  help you a lot so we have my company we not just  

we don't just sell businesses we also prepare  them for sell businesses are already in good  

shape and we can sell them but reality is about  85% of the businesses on a bar market never sell  

because they're not sellable they're not set up  in a way that can transition easy to a new owner  

so we have a program that we use to to prepare  these businesses for sale and one of the steps  

that we use in the program is something that helps  business owners dramatically increase the value of  

their business before selling and to help you guys  out I've decided to just put this information out  

here for free so if you want to find out about it  it's the step that I'm talking about it's free it  

doesn't cost you any rest some modifications you  have to make to some things in your business so I  

will post the link underneath this video video  that I'm talking about it's called the value  

builder so look for it underneath the video click  on it and watch that video it's about 20 minutes  

long it is it's gonna dramatically change the  value of your business even if you don't sell  

it right now but you wanna sell it a year from  now that actually is gonna help you even more  

most business owners that come to me to ask me  to sell their businesses are not applying it in  

my business they have not applied it until they  went through our bill to sell program so again  

I'm giving this information for free because I  want to help you guys I know it's a scary time  

for everybody and if you have any questions  at all feel free to contact me either in the  

comment section of this video or go to Trish  recruit calm and send me an email from the  

contact page and I would love to just help you  out have a nice day and go and watch the video