CBI, New England's leading business brokerage firm, is looking for an entrepreneurial person who is interested in a terrific Vermont lifestyle business. This person or family will enjoy owning a great business in a small Vermont community. This retail opportunity will immediately immerse the owner into the community. Superior homestead opportunities are available to live on a pristine Vermont lake or hillside. The income is very attractive and will lead to becoming a millionaire over time. This business, represented by Country Business, Inc. presents a unique opportunity for a family to work together in a proven, successful concept. It may be very suitable for a semi retired person with an adult child who wants to find a way to return or remain in Vermont and make a good living and re-establish family ties between the generations. This and other great Vermont business opportunities are available through Country Business, Inc. (CBI). We sell successful businesses to qualified buyers!

Top Ten Mistakes Made by Sellers

The following is an excerpt from The Privately Held Company Newsletter.

1. Neglecting the day-to-day running of their business since it will sell tomorrow.
2. Starting off with too high a price since the price can always be reduced.
3. Assuming that confidentiality is a given.
4. Failing to plan ahead and sell/deciding to sell impulsively.
5. Expecting that the buyers will only want to see last year's P&L.
6. Negotiating with only one buyer at a time and letting any other potential buyers wait their turn.
7. Having to reduce the price because the sellers want to retire and are not willing to stay with the acquirer for any length of time.
8. Not accepting that the structure of the deal is as important as the price.
9. Trying to win every point of contention.
10. Dragging out the deal and not accepting that time is of the essence.

Avoid These Business Sale Myths

The Following is from the International Business Brokers Association, Inc.http://www.ibba.org

The typical business owner will only sell a business once. Understanding the complex process involved will help produce the best results. But don't fall prey to the myths that can derail or seriously affect a potential sale.

Myth#1-I Can Sell It Myself
Many owners believe they're qualified to sell their business without professional assistance. Many owners are entrepreneurs and the key salesperson for the company. But selling a business is not like selling a product or service.
If you're looking to sell on your own, confidentiality is lost. If word of a potential sale gets out, there are definite risks of losing clients, employees and favorable credit terms.
Do you really have the time to run your business and compile marketing materials, advertise, screen buyers, give tours and facilitate due diligence?
When you're looking to sell you want to put even greater emphasis on running your business, boosting your sales and not taking on new challenges.

Myth#2-I'll Sell When I 'm Ready
Certainly, an owner wants to be sure he or she is mentally and emotionally prepared to sell, but personal readiness is just one factor. Economic factors can have a significant impact on the sale of a business.
Sale prices can be affected by industry consolidation, interest rates, unemployment and many other economic measures. Talk with a professional and aim to sell when your personal goals and market conditions align.

Myth#3-I Know What It Is Worth
Some owners will base the company value on what they need for retirement. Others will tell you they want $100,000/year for "sweat equity." Still others utilize industry multiples.
A third party valuation is a good idea for anyone seriously considering the sale of their business. An outside valuation will include a thorough analysis of the business and the market it operates in. This will provide a solid understanding of the company's growth potential, not some vague industry average.

Myth#4-It's Like Selling A House
Preparing to sell your house may take a few weeks, then you want to get the word out to everyone that the house is on the market. Once you get a satisfactory offer, you sign on the dotted line, turn over the keys and move on.
Selling a company is much more complex. A successful business sale usually requires a great deal of pre-planning, at least a year and maybe as long as three years to drive sales, develop key staff, document the operations and control expenses.
The average house will sell in less than four months, while the average business sale is nine months to a year.
Even after the business is sold, the seller can be expected to put in at least a few months, and possibly years of transition time, helping to make the new owner a success.
Sound sale strategies will bring you the optimum price the market will bear. Go to market with realistic expectations by getting a professional valuation and using a professional business broker or intermediary.

How's Your Corporate Social Responsibility (CSR) ?

Your first question may be, "Just what is Corporate Social Responsibility (CSR)" We see CSR demonstrated in a variety of ways in areas such as:

• THE COMMUNITY: Contributing to local community programs through financial support and personal involvement.
• THE ENVIRONMENT: 1-Using packaging and containers that are environmentally-friendly.2-Recycling 3-Using low-emission and high-mileage vehicle where possible 4-Seeking more efficient manufacturing processes, etc.
• THE MARKET PLACE: 1-Utilizing responsible advertising, public relations and business conduct 2-Exercising fair treatment of suppliers/vendors, contractors and shareholders
• THE WORKPLACE: 1-Implementing fair and equitable treatment of employees 2-Upholding workplace safety, equal opportunity employment and labor standards

Actions such as these not only uphold today's business standards, but they also pave the way for future generations. In years past, many of these elements were considered almost anti-business and some had to be enforced by government regulation.

Successful companies such as Tom's of Maine (producer of natural personal care products) and Newman's Own have practically been built on CSR. More and more companies-public and private-are following the elements of CSR. Google is a desired workplace because of the way they treat their employees: great benefits, great food in the employee cafeteria, exercise equipment - you name it, Google provides it.

Recognizing CSR in today's business climate not only increases shareholder/investor interest, but also increases value. Socially-conscious companies are considered sound investments. They attract buyer interest and acquire higher selling prices when it comes time to sell.

After all, most buyers want to find a business with the following attributes:

• Good relations with the local community
• Products and/or services that are meeting the current trends in the marketplace and are positioned to meet future trends
• Positive relations with employees and low turn-over
• Excellent customer loyalty
• Good relationships with suppliers and vendors
• No "skeletons" in the company closet

In addition, good environmental practices reduce costs, create efficiencies and provide excellent public relations. Good employee relations make for happy workers, which translates to higher productivity and lower absenteeism. Good relationships with customers and suppliers eliminate, or greatly reduce, the possibility of legal entanglements.

All in all, Corporate Social Responsibility not only creates additional value and helps in creating a higher selling price when that time comes, it is also very good business for now and in the future.

How Long Will You Work For Uncle Sam?

Factors to Consider

Business owners who are thinking "I'd probably like to retire in a few years and I'll sell my business then" may be surprised to learn just how much longer they will be working for Uncle Sam instead of themselves!

From 1987 to 1996, capital gains were taxed at 28% - nearly double the current 15% rate. Let's see how a return to previous rates might affect your retirement plans.

Like most successful business owners, you are probably good at managing your bottom line to provide the income you need to maintain your lifestyle.

Is that number growing or shrinking?

Higher insurance costs, higher energy costs and other factors have meant your bottom line has been flat for years. In other words - your business hasn't changed much and probably won't change much into the next few years when you'll want to retire.

Further, let's say your business is worth $2,000,000 including real estate, equipment and other assets. You didn't pay that much for your business and real estate; you have built up a fair amount of Goodwill over time and THAT is what you are banking on for retirement. If your tax basis is $500,000, your capital gains might be $1,500,000 and the taxes owed could be $225,000. If taxes return to their previous level of 28%, your tax bill could shoot up to $420,000.

The extra money you plan to set aside for retirement may be eaten up by additional taxes you will pay by waiting that "few more years."

That's three years of fishing, playing golf or sailing you may never get back.

That's three years with your grandchildren that you may miss.

When you consider that it may take a year or longer to actually sell your business, next year may be too late to start your plan. Let's start planning today!

Some Exit Planning Mistakes

The first and worst mistake is not developing an exit strategy long before you need one. Waiting until you have to sell is not a sound exit strategy, but, unfortunately, is the one used by too many business owners.

Once a business owner decides to sell, he or she must be proactive, not reactive. Selling a business is not like waiting for a Publisher's Clearing House to knock on the door and hand over a big check. That's why it pays to build the exit strategy long before it's needed.

It's also important to consider all options. An outright sale is obviously the most common. However, other options may involce a sale to management, an ESOP, a recapitalization, and intra-family sale, etc.

As part of the exit planning strategy, knowing what the company is worth is critical. Ideally, this should be evaluated every year. Only by knowing the value of the business can business owners decide if the value coincides with their "exit" requirements.

A professional business intermediary can assist in the process. Keep in mind that market conditions greatly impact value.

Many business owners place their business up for sale and only then, for the first time, give thought to what they are going to do if it sells. This often results in panic as they consider what they will do and how they will finance it. Many actually abort a pending sale or withdraw it from sale. This thought process about what life will look like "post-sale" should be done long before considering selling.

Another mistake is failing to take advantage of the outside professionals that are available. Attempting to be a sole practitioner in the selling process is a big mistake. Make sure these outside professionals have transaction experience. Starting with a professional business intermediary is a good start.

How Does Your Company Rate?

Valuing a business involves, not only numbers, but also very important subjective factors. Here are some important subjective factors to consider.
How does your company rate?

• Stable market
• Stability of earnings historically
• Cost savings after purchase
• No significant capital expenditures required
• No significant competitive threats
• No significant alternative technologies
• Large market potential
• Reasonable market position
• Broad-based distribution channels
• Sound management willing to remain
• Product diversity
• Wide customer base
• Non-dependency on few suppliers