Frequently Asked Questions

How does the BizByOwner System work for a Basic Program Subscriber?
If the Basic Program is a complete solution, why would I need a support program?
What is a "Business Offering Package"?
Why do I need a Business Valuation?
How long does it take to create my Business Offering Package?
How will I access the Reports created with BizByOwner?
Can I change or update my Reports after my Business Offering Package is finished?
Will BizByOwner help me find a buyer?
How will I find a buyer for my business?
Selling a business seems complicated. Can I really do it?
How long will it take for me to feel comfortable using the BizByOwner System?
What if I need more help?
How do I upgrade?
Can I use BizByOwner to sell more than one business?
How much time will it take to sell my business with BizByOwner?
How long do I have access to BizByOwner?
How will I keep my effort to sell confidential?
Who should use BizByOwner?
How do I save with BizByOwner?
Is my information secure on BizByOwner?
Will you share my information?
How do I contact BizByOwner?
How do I get support?
What system requirements do I need?
How do I pay?
Do you offer any guarantees?

How does the BizByOwner System work for a Basic Program Subscriber?

When you become a BizByOwner Basic Program subscriber, you access a Complete Solution for selling a business—all in a secure, easy-to-complete online format. You begin by answering a basic, business background questionnaire and then enter your company's financial information. Once that groundwork is laid, you quickly complete a straightforward business valuation based on the financial information you entered and other industry factors. The final step is putting the finishing touches on a professional quality Business Offering Report. The final product is a comprehensive Business Offering Package that will impress any buyer and help you turn prospects into closed deals. All questionnaires and reports are completed on your schedule—you can save as you go, and come back any time to complete them. Helpful hints, sample text and online guides ensure that any business owner can easily craft a stellar presentation. We also provide multiple marketing, transaction management and education resources to help you prepare your business for sell, find the right buyer, and then manage the deal from offer to closing. When you're done with your package, you'll manage your information and resources in our innovative My Business Center. Our market leading Online Presentation allows you to provide buyers with password protected access to your package, eliminating the need for continually printing or photocopying multiple versions of huge documents, or trying to email large files.

BizByOwner’s Complete Solution can be a complete "do-it-yourself" effort, or you can choose from our Consultant and Broker Support programs to receive additional support and coaching as you sell your business.

Regardless of the program you choose, you'll be stunned and delighted with how well integrated and powerful the BizByOwner system is, and with the quality of the presentation you will create. We're excited to have you be a part of it!

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If the Basic Program is a complete solution, why would I need to subscribe to the Consultant or Broker Support programs?

Different subscribers have different needs, skills and abilities. First, the Consultant Support program saves the subscriber time. Once a Subscriber has answered an online questionnaire, BizByOwner saves the subscriber time by completing their Business Offering Package for them, including their business valuation.

The Consultant Support program also provides the benefit of professional writing and financial analysis. The Consultant, quite literally, acts as a consultant, lending their expertise to the subscriber as they develop their marketing approach, begin to interact and work with buyers, and move towards closing a deal. This provides the subscriber with the comfort of knowing they have a “go to” as they sell their business. The Broker Support program simply adds to the Consultant program the benefit of having a local broker work directly with you and qualified buyers, in person, to negotiate the deal and prepare for and manage the Closing.

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What is a "Business Offering Package"?

BizByOwner's dynamic suite of online tools creates all the elements of a professional Business Offering Package so your business is presented for the valuable asset it is. Your package will include a comprehensive Business Offering Report ("prospectus"), a Business Valuation Report, a 1-page Business Briefing, and a Financial Profile that includes your Income Statement, Balance Sheet and a Discretionary Cash Flow Report. Whether you choose to create your own Business Offering Package as a Basic Program Subscriber, or work with one of our Consultants in our Consultant and Broker Support programs, you will have one of the top offering packages in the market place.

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Why do I need a Professional Business Offering Report?

When you sell your business, you’re selling a valuable and sophisticated asset—regardless of how small, large or successful your business is. Until now, business owners had limited means to effectively sell their business in a sophisticated and professional manner without relying on high commissioned brokers. In order to separate yourself from the mass of offerings out there, and properly convey the scope, nature and value of your business, you must have a professional, complete and compelling sales presentation! Simple website ads and poorly organized information will not impress buyers. A professional BizByOwner Business Offering Package sets your business apart.

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Why do I need a Business Valuation?

This may be one of the most important steps in the selling process. It helps give you a realistic sense of the value of your business so you can price it properly. Although valuing a business is inherently subjective and one business can generate many significantly different opinions, the valuation methods employed by BizByOwner will help you gain a sense of the probable range of selling value for your business.

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How long does it take to create my Business Offering Package?

It typically takes our Basic Program Subscribers from 8 – 12 hours to complete the 4 questionnaires and modules that automatically generate the 4 reports in your Business Offering Package.

The biggest variables for time tend to be the amount and complexity of your financial information/records, and how much you choose to customize or add to the text in the Business Offering Report. Compared to hiring a business broker, it would take the same amount of your time, or more, to meet with the broker, review, negotiate and approve your brokerage agreement, ensure that he or she understands your business, provide the information necessary, review and approve the offering package—and then pay them for the privilege of your time! The offering package a broker puts together (if they even bother to do one!) is typically of much lower quality than the BizByOwner Offering Package. You also have the option of engaging a BizByOwner Consultant under either the Consultant or Broker Support programs. Your Consultant will complete your Business Offering Package for you after you answer a simple online questionnaire.

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How will I access the Reports created with BizByOwner?

Once your offering package is complete, whether by you or one of our Consultants, all BizByOwner subscribers have two critical tools at their disposal: My Business Center, and their very own secure password protected web page. My Business Center allows you to easily access all of your reports so you can open them, save them to your computer, print them, email them, or make updates and changes. Your secure business offering web page is a dynamic Online Presentation. It makes information on your company available to any buyer you pre-qualify and give access to via password. The buyer simply logs in on BizByOwner.com and uses a username and password you assign to them—no more messy faxes, scanning or huge emails! You can also cancel any buyer’s access at any time.

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Can I change or update my Reports after my Business Offering Package is finished?

Absolutely! The BizByOwner system makes it easy for you to update your reports throughout your subscription period. In fact, we designed our system so that when you change or update your information in one place, it automatically updates the information throughout all reports. On the home page of My Business Center there is a section titled "Update Reports". You simply click on which information you'd like to update and the system walks you through your changes.

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Will BizByOwner help me find a buyer?

Yes! BizByOwner provides multiple marketing resources to help you find the right buyer. When selling your business, it is critical to find quality prospects, provide them with an impressive presentation of your business, and know how to get that buyer through the negotiation process and on to a successful closing. BizByOwner is a complete solution because it helps you in every phase of the game—including dynamic resources and information to help you target qualified buyers.

If you choose either the Consultant or Broker Support program, your BizByOwner Consultant will set up your marketing program, be available for follow-up consultation as you search for and work with buyers, and also provide you with free ads on the top, online, business-for-sale marketplaces.

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How will I find a buyer for my business?

One of the key reasons behind the creation of BizByOwner was to give business owners the tools they need to find buyers. An essential component of BizByOwner’s Complete Solution is our Marketing Resource Center (MRC).

In the MRC you will have access to all the resources you need to target and find the right buyers. First, we help you create a multi-faceted marketing strategy with an easy, step-by-step questionnaire that structures your marketing approach and helps you identify the best methods for finding buyers for your business. After we’ve helped you identify your overall strategy, multiple resources help you implement your plan including: over thirty advertisement sample templates in the key print advertising mediums for selling a business; links to key business database resources that help you target the right buyer prospects; specific strategies for identifying buyers in your industry; direct mail strategies including multiple versions of proven letter samples that help you contact buyers that are identified as likely prospects; internet-based strategies with links to key resources; and specific education resources help you understand how to focus your effort and achieve maximum results in the minimum time.

You will quickly create a comprehensive approach that helps you find quality buyers for your business. If you choose either the Consultant or Broker Support program, your BizByOwner Consultant will set up your marketing program, be available for follow-up consultation as you search for and work with buyers, and also provide you with free ads on the top, online, business-for-sale marketplaces.

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Selling a business seems complicated. Can I really do it?

BizByOwner’s programs and online tools are designed to meet the diverse needs of different business owners. Whether you want a “do-it-yourself” program, like our Basic Program, or the security and support of a “go-to” resource with our Consultant or Broker Support programs, all the tools and resources you need are at your fingertips.

Our “do-it-yourself” program is called the “Basic Program,” but there’s nothing “basic” about it—it’s a full suite of tools and resources to help you sell your business like a pro. In fact, you use the same professional tools BizByOwner Consultants and Broker Affiliates use! Follow the system, and you can be more successful, with a higher profit, than if you had used a broker.

With BizByOwner’s Consultant and Broker Support programs, you can elect to have one of our Consultants work with you throughout the process, and even be connected with a local business broker to help you manage the final phases of the transaction in person.

An area many business owners and Basic Program subscribers worry about in particular is managing the transaction. BizByOwner has you covered here too. The final piece of BizByOwner’s Complete Solution for selling your business is our Transaction Management Center (TMC). In the TMC you find a wealth of resources that helps you easily understand the processes involved in selling a business and provides you with the key tools you need to go from listing, to offer to closing.

In the TMC, an easy to understand overview of the process will help you feel comfortable with a checklist of the steps involved in selling a business. Each of those steps will then be supported with the critical documents and templates you need to manage the process such as Letters of Intent, Purchase Agreements, Promissory Notes, Bills of Sale, Closing Checklists and other important documents and agreements. Brief and easy to understand education notes will always be only a click away, and links to BizByOwner’s Preferred Resources will give you access to critical resources like attorneys and CPA’s in cities throughout the country. Different subscribers may have different needs, skills or abilities.

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How long will it take for me to feel comfortable using the BizByOwner System?

Our system is so simple to use, all you really need to do is click 'Save & Continue' at the bottom of each page and the system will take you step-by-step through the entire process. Every time you login, My Business Center home page is your starting point, and clearly labeled links take you wherever you need to go within the system, including a "Take Me To Where I Last Left Off" link. We also provide you with a Flow Chart, a Reference Guide and a comprehensive Help Center to make things even easier. Email Help is also posted on each page. If you can follow a very simple set of directions, you will have no trouble at all using the BizByOwner tools and Resources.

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What if I need more help?

Once you subscribe, an Account Manager will be assigned to your account. You will receive an email with his or her contact information shortly after you subscribe. Every page of our website also has an Email Help link. Simply click on that link, send us your question and you will receive a response typically within 24 hours during normal business hours. This is for technical support only in the event you have a question about how to use the tools and resources BizByOwner offers.

If you believe you need more support, you can subscribe to either the Consultant or Broker Support program. These programs can both save you time and give you the comfort of a “go to” resource as you work with buyers and close your deal. Your Consultant will also schedule "Guidance Calls" with you at strategic points to ensure that you understand each step of the process. If you initially sign up for the Basic Program, you can upgrade at any time by contacting your Account Manager.

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How do I upgrade?

From the home page of My Business Center, simply click on "Subscription Upgrade Options" in the left hand column and make your choice from the available upgrade options. You may also contact your Account Manager to arrange for an upgrade.

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Can I use BizByOwner to sell more than one business?

Multiple locations for one business entity can be sold through a single BizByOwner subscription. For example, if you own three sub shops of the same brand name that you are selling at the same time, all three can be included in the development of your BizByOwner package and use of services. Two different businesses—different in either type or name—would have to be under separate subscriptions. For example, a single owner of a sub shop and a dry cleaner, or the owner of a Subway and a Del Taco would both need two separate subscriptions.

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How much time will it take to sell my business with BizByOwner?

No matter how you sell your business—with a broker or on your own—you will commit time to the process. With a Broker, you will have to interview agents, find one you trust, negotiate your listing agreement, gather and provide background information on your business, and review and approve the business offering documents. You will then be responsible for meeting with buyers, showing the business, reviewing buyer offers, negotiating counter offers, compiling and updating financial information, and so on. Both these initial and ongoing activities can actually take less time for some business owners who do it themselves with BizByOwner, than it would take working with a broker. If you work with one of our Consultants, you get the double benefit of being in control of the deal while having your Consultant save you additional time by doing some of the work for you.

With BizByOwner, we give you interactive modules that allow you to spend that time without outside interference and create a professional quality presentation that is superior to what many brokers will do—and you get paid for it by keeping thousands of dollars in commissions when your business sells.

The amount of time it takes to actually get to closing is different for every business and depends on the desirability of the business, the price, the overall economy and market for businesses of your type, how aggressively you market it for sale, etc. It can take from a few months to a year and even longer. But with the powerful tools provided by BizByOwner, you’re giving yourself a real advantage when selling your business yourself.

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How long do I have access to BizByOwner?

After you register, your access to BizByOwner.com will continue for 3 months. If you wish to continue your subscription to BizByOwner beyond three months, you can renew your subscription in three month increments at a discounted rate.

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How will I keep my effort to sell confidential?

BizByOwner puts you in control of the process so you can decide how much information to release when and to whom. In our Transaction Management Center you will have access to Confidentiality Agreements that you should have every prospective buyer sign before releasing information, and investor profile forms that allow you determine if you are releasing information to a qualified buyer. Your Business Offering Package provides you with a 1-page Business Briefing that allows you to provide limited information up front before determining if a prospect is a serious buyer. If you work with one of our Consultants, BizByOwner regards all of your information as confidential and will never share it with any outside party except for professionals you designate (CPA’s, attorneys, etc.).

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Who should use BizByOwner?

BizByOwner was created and designed to meet the needs of business owners with small- and mid-sized businesses to sell. From a $200,000 a year sub shop to a $2,000,000 fencing contractor, or an $8,000,000 wholesale distributor—or more—BizByOwner’s dynamic report creation modules will allow you to develop a compelling and professional presentation that impresses buyers. And our Marketing Resource and Transaction Management Centers will help you find that buyer and take the deal from listing to offer to closing.

Either smaller or larger businesses may benefit from our Consultant and Broker Support programs. Each subscriber needs to evaluate his or her needs. If you’re not sure which program is right for you, Contact BizByOwner directly at 877-249-3535 and we’ll help you evaluate your needs.

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How do I save with BizByOwner?

Legitimate business brokers will charge up to a 12% commission (depending on the value of the business) for their services, with a minimum commission of between ten and fifteen thousand dollars. BizByOwner offers a complete, integrated solution for selling your business yourself for only a few hundred dollars—a savings of up to 98%—potentially leaving tens of thousands of dollars more in your pocket when you sell your business.

When you take advantage of the Consultant or Broker Support programs, you still save substantially over using a broker in the traditional manner. Consultant Support subscribers can save 90% or more from a typical brokerage fee for a smaller business, and a larger business may save even more in fees! Broker Support subscribers can typically cut their costs in half because of discounted commissions offered by our Affiliate Brokers.

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Is my information secure on BizByOwner?

The security of your information is our top concern. The most advanced protocols available are employed to protect the BizByOwner website, keeping your information secure. BizByOwner staff is also prohibited from accessing any Subscriber information without the express request to do so from that Subscriber, with the exception of contact information so we can contact you, and progress information to help us know if you're having difficulty with any aspect of creating your professional BizByOwner Business Offering Package.

Our Consultants and Broker Affiliates also respect your confidentiality, only accessing your information within the context of those relationships.

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Will you share my information?

BizByOwner has a simple philosophy: your information is yours. Period. We will never sell it or make it available in any way to any other company, entity, or individual with the exception of professionals you designate (CPA’s, attorneys, etc.). Even BizByOwner staff is strictly prohibited from accessing your business and financial information without your permission.

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How do I contact BizByOwner?

Every section in the subscriber portion of our site has an immediate link via email to customer service at BizByOwner. We can also be reached by email at info@BizByOwner.com. If you still have questions about how BizByOwner can help you after viewing the information on our site, you can contact us directly at 1.877.249.3535.

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How do I get support?

Once you subscribe, an Account Manager will be assigned to your account. You will receive an email shortly after you subscribe with his or her contact information. Every page of our website also has a general Email Help link. Simply click on that link, send us your question and you will receive a response typically within 24 hours during normal business hours. Basic Program subscribers receive technical support for using BizByOwner tools and resources. Basic Program Subscribers can also purchase "a la carte" support in one hour blocks of time. Consultant Support and Broker Support Subscribers receive professional consulting support and broker services throughout the selling process.

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What system requirements do I need?

To best utilize the BizByOwner system you will need Microsoft Internet Explorer version 6.0 or later, Microsoft Windows 98 or later, Microsoft Word 2000 or later (Other word processors may support our system but may cause formatting errors which can be manually corrected), and Adobe Acrobat Reader version 6.0 or later. Internet Explorer and Adobe Reader downloads are available for free via the internet. Click here to download the most current version of Internet Explorer: www.microsoft.com/windows/ie/. Click here to download the most current version of Adobe Reader: www.adobe.com.

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How do I pay?

Basic Program Subscribers
As you go through registration, Basic Program Subscribers will be asked to pay via our secure credit card site. Your account will be activated immediately. We accept Visa, MasterCard, American Express and Discover. You may also provide your credit card information via telephone by calling 1-877-249-3535, or mail a check to:

BizByOwner, LLC
734 Elk Ranch Lane
Fort Collins, CO 80524

Consultant and Broker Support Program Subscribers
To register and pay for these premium programs, Contact BizByOwner directly at 1-877-249-3535. A BizByOwner Consultant will take your payment by phone (if paying by credit card) and activate your account for you. You may also pay by check by mailing payment to the address above.

For subscribers paying by check, accounts will be activated approximately three business days following the deposit date.

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Do you offer any guarantees?

If, at any time during the first 30 calendar days following purchase, a Basic Program Subscriber is not 100% satisfied with their purchase, we will refund your entire Basic Program subscription price as long as a business valuation has not been completed and no Business Offering Package reports or legal documents have been downloaded.

Consultant and Broker Support program subscribers can receive a refund the first 30 calendar days following purchase if they have not proceeded beyond answering the online Business Overview Questionnaire, and no work has been completed by a BizByOwner Consultant.

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