Calvacca and Citrolo of New York Business Brokerage, Inc. speak at recent Long Island Commercial Network breakfast meeting

At the most recent Long Island Commercial Network breakfast meeting, Tony Calvacca and Anthony Citrolo of New York Business Brokerage, Inc. (NYBB) provided a presentation on the basics of selling a business. During the presentation they pointed out some of the key factors that business owners must be aware of when considering the sale of their business. It was highly informative and well received. Some of the key points covered include what may be good reasons to sell a business, essential tasks the owner should complete prior to placing the business on the market, the best way to get a business valuation touching on various possibilities, the best way to place it on the market dependent on the type of business and who the potential buyer could be, what the seller should know about the due diligence that will be expected of them, and the most common types of purchase arrangements such as the original owner leaves the business, stays on for a specified period of time, retains a percentage of ownership. The pros and cons of each scenario were discussed. A great deal of detail and information was shared. Please check LICN's website (www.licn.org) for more detailed information on the content of the meeting and the presenters. LICN tries to make every meeting valuable to its members so as to further advance their advantage in their real estate business.