Be objective when buying or selling a business – Atlanta Business Chronicle

Release Date: October 27, 2016

Excerpt from Atlanta Business Chronicle, October 21-27, 2016, page 43A

Dave Chambless, immediate past president of the Georgia Association of Business Brokers, Inc. (GABB) and president of Abraxas Business Services, said before deciding to sell, the owner needs to determine how much mone he will need to live for the rest of his life while keeping in mind his spouse may out-live him and he needs to provide enough money for the remainder of his spouse's life as well.

"They need to take a cold and objectives view how much money the business is generating to fund their lifestyles," he said. "A lot of times business owners lose track of how much money comes out for small things. Is the company paying for their car and gas and insurance or their cell phone and health insurance? Is the spouse taking a salary that will be lost in the event of a sale? Those things add up."

Complete article may be found at http://www.bizjournals.com/atlanta/

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