A record number of business-for-sale transactions and a strong U.S. economy are encouraging more small business buyers and sellers to take advantage of today’s hot market. But for both those looking to sell and others ready to buy, a business transition brings many new, unexpected expenses. To learn more about what these expenses entail, BizBuySell surveyed 1,200 business owners to understand the costs incurred during the four main phases of ownership – buying, starting, selling and expanding a business.
The results provide an in-depth look at the $42 billion small business owners combine to spend annually during a business transition and why that number has increased from when BizBuySell conducted the same survey five years ago. In the official whitepaper, we break down how much buyers and sellers spend in the year before and after a business is sold, which services account for the highest costs and how spending varies across industry and geographic area.
Topics covered in the white paper include:
- The spending power of small business owners. An analysis of business owner spending annually on products and services, including a breakdown across categories ranging from accounting and payroll to insurance and telecommunications.
- How small business owners select a vendor. A look at how criteria such as word-of-mouth referrals, pricing and brand recognition are used to evaluate new vendors and suppliers.
- The most underestimated and least liked expenses. A glance at what type of expenses owners frequently overlook, as well as the top strategies used to cut costs.
- Earning small business loyalty.We take a look at how customer loyalty influences the vendor decision-making process and the importance for vendors to establish a relationship with future owners before they buy a business.
Read the full report
Walker Sands Communications
BizBuySell is the Internet's largest business for sale marketplace. Since 1996, BizBuySell has offered tools that make it easy for business owners and brokers to sell a business, and potential buyers to find the business of their dreams. BizBuySell currently has an inventory of approximately 48,000 businesses - spanning 80 countries - for sale at any one time and receives more than 1 million monthly visits. The site also features an extensive franchise directory as well as an easy-to-use business valuation tool. Please visit www.bizbuysell.com for more information.
BizBuySell was founded in 1996 and in 2012 became a division of CoStar Group, Inc. (NASDAQ - CSGP) - commercial real estate's leading provider of information and analytic services. CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information and offers a suite of online services enabling clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. For more information, visit www.costar.com.