Category Archives: Valuing, Buying or Selling a Business

A discussion of the issues involved in buying or selling a business by William Bruce, president of the American Business Brokers Association.

What Are the Differences Between EBITDA and Seller’s Discretionary Earnings (SDE)?

Posted on August 24, 2020 by William Bruce

Updated July 18, 2025 The differences between EBITDA and Seller’s Discretionary Earnings (SDE) cause confusion. Sometimes the two terms are incorrectly viewed as interchangeable, but there are important differences. First, some definitions. Both are business performance benchmarks that are widely … Continue reading →

Posted in Business Valuation & Appraisal, Valuing, Buying or Selling a Business | Tagged difference in EBITDA and SDE, EBITDA defined, SDE defined, seller's discretionary earnings defined, William Bruce Business Broker | 9 Comments

Here’s the New $600 Billion Federal Reserve Lending Program for Businesses

Posted on August 20, 2020 by William Bruce

For some reason, this new loan program for businesses has not received much attention. But $600 billion has been allocated for the project, so if you’ve been hit hard by the pandemic, it might be a lifesaver. The name of … Continue reading →

Posted in Valuing, Buying or Selling a Business | Tagged Business loans for pandemic damages, New $600 Billion Federal Reserve Lending Program | 1 Comment

Giving a Shoutout and Thanks to the Invaluable Healthcare Workers During this Covid Mess!

Posted on August 17, 2020 by William Bruce

Posted in Valuing, Buying or Selling a Business | Tagged William Bruce thanks healthcare workers | 2 Comments

Considering Buying a Business? Here Are the 6 Most Frequently Asked Questions.

Posted on August 3, 2020 by William Bruce

The most frequently asked question by individuals who are considering buying a business and answers by William Bruce, President, American Business Brokers Association. Continue reading →

Posted in Business Valuation & Appraisal, Valuing, Buying or Selling a Business | Tagged Business valuation versus asking price, buying a business, Buying a business issues, Down payment to buy business, Financing a business acquisition, loan to buy a business, Q&A for buying a business, What are discretionary earnings or cash flow, What is due diligence when buying business, William Bruce Business Discussion | 4 Comments

How to Use the SBA to Buy a Business

Posted on July 20, 2020 by William Bruce

Except for the SBA 7(a) program, banks generally do not make loans to individuals to buy a business. This statement will surprise a lot of people. Most people will think first of a conventional bank loan when seeking financing to … Continue reading →

Posted in Valuing, Buying or Selling a Business | Tagged Best business acquisition loan option, How to buy a business using SBA loan, loan to buy a business, SBA 7a business acquisition loan, SBA 7a loan, SBA 7a loan explained, Small Business Administration loan, Top SBA bank lenders, Using SBA loan to buy a business, William Bruce Business | 3 Comments

My 7 Favorite Phone Apps.

Posted on July 13, 2020 by William Bruce

This column is usually devoted to business issues, but today I’m sharing my favorite phone apps that make my daily life easier. I’m not as tech savvy as many of my friends, so my favorite apps tend to be more … Continue reading →

Posted in Valuing, Buying or Selling a Business | Tagged Dropbox, Google Maps, Kayak travel app, KeyRing, MyRadar, TurboScan, WeatherBug | 4 Comments

The Best and Worst Franchises to Own Ranked by SBA Loan Default Rates

Posted on June 29, 2020 by William Bruce

This is an article by William Bruce containing a list of the best and worst franchises as ranked by SBA loan default rates. Continue reading →

Posted in Business Valuation & Appraisal, Franchises, Valuing, Buying or Selling a Business | Tagged Best and worst franchises, best franchise investment, Buffalo Wild Wings, CHRISTIAN BROTHERS AUTOMOTIVE, COMFORT INN, COMFORT KEEPERS, franchise loan defaults, HOME INSTEAD SENIOR CARE, IMAGE SUN, NOBLE ROMAN PIZZA, ONCE UPON A CHILD, Play N Trade, SBA loan defaults, William Bruce Business Broker, WIRELESS TOYZ, worst franchise investment, Zeppe's | 32 Comments

Buying or Selling a Business? You Must Know the Differences in an Asset Versus a Stock Sale.

Posted on June 8, 2020 by William Bruce

The differences in buying or selling a privately held business as an asset versus a corporate stock sale can be critical. We discuss the advantages and disadvantages of each. Continue reading →

Posted in Valuing, Buying or Selling a Business | Tagged advantages of asset sale versus stock sale, asset sale, asset sale versus stock sale, buying a business, corporate stock sale of small business, how to buy a business, How to Sell a Business, selling a business, unknown liabilities, Wlliam Bruce Business Sales | Leave a comment

How to Conduct Due Diligence When Buying a Business

Posted on May 30, 2020 by William Bruce

Due diligence is a fancy term. In practical use, it can be summarized as that phase in the purchase of a business when (1) you verify the accuracy of the information that you’ve previously been furnished and (2) you make sure that there are no serious, undisclosed problems with the business. Continue reading →

Posted in Valuing, Buying or Selling a Business | Tagged buying a business due diligence, due diligence, due diligence checklist, due diligence investigation, William Bruce Sunbelt Business Brokers | 15 Comments

Buying or Selling a Business? Use These 7 Negotiating Tips.

Posted on May 26, 2020 by William Bruce

Once an initial and contingent written offer to buy or sell a business has been made, the transaction usually enters the negotiation phase. The negotiation phase is really not complicated. Most likely you’ve already bought a car and/or a home. The negotiations over the price of a business are similar. Here are seven suggestions to help.
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