Keeping the Sale of Your Business Confidential

Keeping the sale of a business confidential is most commonly the number one concern for business owners. Employees may become worried about the security of their employment, and clients may become concerned about quality and service.  

Business brokers specialize in confidentiality. Every business they sell is a confidential transaction. A broker acts on your behalf allowing you to remain anonymous. It’s important to maintain confidentiality.

When should you tell your employees about the sale? 

 Our considerable experience has proven that it is best to tell your employees about the sale after the sale is complete. Of course, if there is an employee whose expertise will be needed after the sale, you should introduce the buyer to this employee shortly before closing.

We have found that once employees find out that the business is for sale, they often just assume that their position will be replaced with the new owner’s personnel. However, this is far from the truth. Current employees are a wealth of knowledge. After the transaction has occurred and the seller is no longer there, employees become a real asset to the business. It usually is best if employees are introduced to the new owner right after closing the sale. This enables the new owner to tell about his background and to take time to assure the employees of their value and that no one is going anywhere– all without distressing anyone.

If you have a business you would like to sell, please contact our office at 250-751-7917 or toll-free 1-877-289-0969.  We will be happy to discuss how we can meet your goals as a seller while maintaining confidentiality.

Pros of Seller Financing: Getting More For Your Business

As baby boomers begin to hit retirement age, many who are business owners are ready to sell. It’s created a market that has many businesses for sale. At the same time, concerns about the economy had made it tough to get financing for many potential deals. Seller financing is one option that could be the solution to get many deals done.

There are a number of benefits for business owners who are considering seller financing:

• Faster sale – Seller financing provides an attractive option for buyers which means that sellers can sell their business quickly.
• Flexibility – Seller financing enables the seller to create a payment schedule, interest rates and loan period that fit their personal needs. 
• Tax breaks – Taking a note for part of the business purchase price may provide a tax break for the seller. The seller can defer some of the tax due on the sale of the business until full payment is received, which could be several years down the road.
• Protections – Asking the new owner to keep the seller up to date with information like monthly profit and loss statements, workforce numbers, order backlog, inventory levels or other items with the monthly payment can be in the sale contract. The additional information allows the seller to keep track of the business and step in to offer advice or help if any problems are detected. 
• In First Position to Be Paid:  If SBA is not in the picture you are in 1^st position if there would be a default.  We encourage a personal guarantee from the buyer to ensure you being paid.

Working with a qualified business transaction professional, like a Certified Business Broker (CBI) or Mergers & Acquisitions Master Intermediary (M&AMI) is also recommended. Certified brokers and intermediaries at Sunbelt BC Business Brokers can provide the guidance you’re looking for when considering seller financing or other financing options.

Consider More Than Money When Selling Your Business

Sure you want a big payoff, but when it comes to selling your business, money should not be the only consideration.  You don’t want just any buyer, you want the best buyer. Surprisingly, sellers don’t always choose the buyers offering the most money. Would you consider a lower price for a buyer that fits the company’s culture?  Would you consider an offer that’s considerably lower if it meant the difference between years of seller financing and cash at close? It’s common for deal structures to include a variety of options which must be carefully evaluated, long before you get to the negotiating table. You may not realize it, but you’re positioning and negotiating from day one of a sale. Be sure your priorities are well thought out or you might give a buyer the wrong impression. A prospective buyer may ask how long you’ll stick around after the sale and you may casually respond that you’ll be around as long as needed.  Then you find out that the buyer is thinking about a two-year transition when you and your wife had been discussing a potential move to Florida. Something like that could blow up a deal. Had your initial response been that you would be around three to six months and then could provide consulting services from Florida, the buyer would not be counting on long-term support. As a seller, here are 7 important questions to ask yourself:

1. Financing – Do you prefer a higher offer with some seller financing or a lower offer with cash at close?

2. Transition – Are you looking for a quick exit?  Does the buyer expect a lengthy transition?

3. Employees – Sellers are often very protective of their employees.  Will the buyer relocate or replace staff?

4. Ownership – Are you looking to maintain a minority stake for yourself or your family?

5. Legacy – Most sellers don’t want to cash out and watch the company erode. Ten years from now they want to look at a successful business that they had a hand in building.

6. Real Estate – Is the buyer interested in your building?  Some sellers prefer to keep the real estate and draw rental income. If the buyer doesn’t want your facility, how soon can you fill it?

7. Trust – Do you trust the buyer?  Some sellers will pass up higher offers to work with a buyer they feel better about.

Even if you know your preferences, you may not get everything you want when making a deal.  A reputable Business Intermediary will be sure that the right questions are asked to help you organize your thoughts, review your priorities and understand what the market will bear.  In the end, you’ll find yourself in a better position to negotiate and close the deal—without sacrificing your goals. Contact the Sunbelt Nanaimo office @ 250-751-7917 or visit our local website at http://www.bcbusinessbroker.ca/.

Brewing Up A Business

It’s an exciting time for the BC microbrewing industry with provincial sales reaching a record high. British Columbians seem to be veering away from the big beers and gravitating towards “craft breweries”, also known as “microbreweries”.  Some use the terms synonymously, others say there’s a difference between the quantity produced and methodologies used. But one thing is certain: In Canada’s $8 billion beer industry, the numbers are up for traditional ales and down for industrial commodity beer.  According to Rick Green, Executive Director of the Craft Brewers Association of British Columbia, “BC is basically the leading province in the craft beer movement.”  That’s all great news for Jennifer Lewis and Travis Findlater, the new owners of Fat Cat Brewery in Nanaimo, who plan a relaunch of the newly branded business as “Wolf Brewing Co.” in February. According to Jennifer Lewis “the recipes will remain the same with 1 or 2 new ales coming to the market.” Michael Naprawa, of BC Business Brokers is pleased that this longstanding, local brewery has been sold to a team of owners with new vision and new energy to take the business to the next level.”  Lewis and Findlater were relieved that the overwhelming details of the business transaction were handled by a business brokerage firm in Nanaimo, BC Business Brokers, the company that marketed the business and negotiated the sale.  “We were very pleased with the services provided by Michael Naprawa—his business advice and professional contacts were invaluable to making the transfer of ownership go smoothly” said Lewis. Learn more on:www.youtube.com/watch?v=nydVgJ_9kdY


If you are considering small business ownership or the sale of your business, feel free to contact BC Business Brokers.  We can help.  Visit our local website at www.bcbusinessbroker.ca or www.sunbeltbroker.ca or phone 1-877-289-0969

10 Questions To Ask When Buying a Business—Do Your Homework!

Published in Nanaimo Magazine - December 2010 Issue

Buying a business is an arduous, yet rewarding process, and can take weeks or months. Because buying a business will involve investing a fair amount of money and time, it is critical to do your homework when gathering information about the business. This process is commonly referred to as due diligence.  It helps the buyer discover information such as whether the purchase price of the business is too high; the type and condition of the business being bought; bad financial situations if they exist, and contingent liabilities. There are so many questions to ask when considering the purchase of an existing business. In fact, there is not enough room on this page to list them. But let us give you a few examples that relate to financial, marketing, ownership and operations: 

1. Ask why is the seller selling—and verify the answer.

2. Ask to review the certified financial statements of income, cash flow and balance sheets for the last three years. If you borrow from a bank to pur- chase the venture, the bank will want to see them.  Recent audits and projections should also be reviewed.

3. Ask  to see the company’s Tax Returns (not the owner’s personal) for the last three years.

4. Ask for a copy of all documents of all outstanding indebtedness like notes payable, accounts payable, real estate and equipment leases.

5. Ask if the seller is willing to stay around for awhile after the sale to help with transition.  If so, have you discussed some compensation for his/her services during that transition period?

6. Ask if there has been any significant turnover of employees. If so, why? Ask to see employment agreements and organizational charts.

7. Ask about the quality of customer relations at the company. Review customer lists if possible.

8. Ask about the relationship between the company and its vendors. Do vendors display preferred, regular or irregular relations with the company?

9. Ask to review key contracts.  Also ask to see any litigation-related documents.

10. Ask for information about patents, copyrights and other intellectual property-related documents.

If you are contemplating small business ownership, feel free to give the Sunbelt Nanaimo office a call at 1-877-289-0969 or visit the website at www.bcbusinessbroker.ca or www.sunbeltnetwork.com/vancouverisland - we can help you find a reliable business that suits your background.  We are Certified Business Intermediaries with special training to help our clients analyze business opportunities and assess future probability of success.  President of Sunbelt Business Brokers, Michael Naprawa, is the Director of Education for the Canadian Chapter of IBBA (International Business Brokers Association), an organization that creates business standards and a code of ethics; and creates training and professional designations for Canadian Business Intermediaries.  Feel free to contact our Nanaimo office with your questions or comments.

View the article and check out Nanaimo Magazine here

2010 Highlights of Small Business in British Columbia

Published October 2010

BC - The government has released SMALL BUSINESS PROFILE 2010, a 36 page report that profiles small business growth and development in the province. Here are the key highlights.
Small businesses account for 98 per cent of all business in the province, with approximately 395,900 small businesses operating in British Columbia in 2009. Of those more than half (56 per cent) were self-employed and the rest (42 per cent) had fewer than 50 employees.
Only Saskatchewan, which has 89.5 small businesses per 1000 people, has a greater number of small businesses per capita. This puts BC, which has 88.9 small businesses per capita, well ahead of most other provinces (the national average of 72.0).
How does this translate into economic value? Small businesses provide enormous support for employment and also contribute to the province's gross domestic product (GDP).
Small businesses in the province account for 57 per cent of private sector jobs, the highest rate nationwide, and employed 1,045,400 people in 2009. On top of this are 443,800 self-employed worker, who tend to be older, are more likely to work longer hours than employees working for others and are also more likely to be male.
In terms of production, small businesses in the province accounted for roughly 32 per cent of BC's gross domestic product in 2009 and 41 per cent of the total value of goods exported from the province in 2008.
Read the report SMALL BUSINESS PROFILE 2010 to learn more about the state of small business in British Columbia.

Article: http://www.canadaone.com/ezine/briefs.html?StoryID=10Oct18_2

Not Ready to Say "I Do"?

Published in the October Issue of Nanaimo Magazine.

See published article here: http://www.downtownmagazine.ca/nanaimo/nanaimomag.php

Even though you know you’re ready, sometimes it’s still hard to commit—to leaving that is. When the perfect buyer finally makes you the offer you’ve been waiting for, you get ‘cold feet’ and feel the urge to run from the proverbial alter. And then come the questions: “Do you take this buyer as the long awaited answer to your succession plan, as long as you live? Does anyone here object to the marriage of this buyer and seller?” Hmmm, you think to yourself... yes, no maybe, no, you’re not sure…After all, you were the one who took the biggest risk. You were the one who planted the seed, watered it and nourished that business from its infancy into the successful going concern it is today. Are you really ready to let it go? Did you get enough money? Maybe you should have held out for more?

It’s not surprising that business owners, however excited they may be about hitting the golf greens, moving or starting a new venture, signing on the dotted line and handing over the keys can be difficult process. That’s where BC Business Brokers use their skills to work with their clients in reaching their goals. If you are feeling the jitters about selling your business and opening the next chapter of your life, here are 5 tips to help you warm your feet:

1. Recognize that it’s normal to have second thoughts for any event that requires a life-altering decision.
2. Acknowledge that people fear the unknown, especially when it means leaving something that’s been a big part of their lives.
3. Stay focused on your original goal—if you want to retire or change careers, feel the fear and DO IT anyway.
4. Stay grounded—don’t get greedy! Just like the stock market, those who hold out for the highest price often lose it all.
5. Realize that your perspective is strongly influenced by emotion and thus, your outlook may be skewed.

BC Business Brokers utilize their knowledge of the industry within the context of the current economy to bring perspective to every transaction. These professionals receive in-depth training through the IBBA University (International Business Brokers Association), achieving their CBI (Certified Business Intermediary) designation. Affiliated with the largest global business brokerage and a network of 300 licensed offices worldwide, effective business advisors bring together buyers and sellers and foster a mutually agreeable deal for their clients. We coordinate each business transaction by working together with our clients’ lawyers, accountants and financial planners. Business Brokerage is all about relationships and connections—helping clients overcome the hurdles so they can confidently say “I do!”

If you are interested in exploring business opportunities or are contemplating the sale of your business, feel free to give the BC Business Brokers office a call at 1-877-289-0969 or visit our websites at www.bcbusinessbroker.ca or www.sunbeltnetwork.com/vancouverisland.

Help! What Is My Business Really Worth?

Published in Nanaimo Magazine September 2010 Issue.

To view the published article: http://www.downtownmagazine.ca/nanaimo/nanaimomag.php

Popular approaches often used to value a business are Income, Asset, and Market methodologies. There are five different Income methodologies, in each case businesses are valued based on company earnings. Buyers’ main concern is the true or absolute income of the company. The net ordinary income, reported on the profit and loss statements for tax purposes, does not depict the true earnings of the company based on non-cash, discretionary, & non-recurring items expensed by the owner.  Reported earnings are usually intentionally kept low to manage taxes. Therefore, to determine the true earning capacity of a business, the profit & loss statements must be re-cast during the valuation process. The business value is then calculated by applying a multiple, consistent with the industry and a weighting of the factors affecting the business, to the SDE or adjusted EBITDA.

Seller’s Discretionary Earnings (SDE) is generally utilized for businesses under $1 million in earnings. Typically, these businesses are owner-operated, the owner receiving a salary through the company.  It is important to determine the ‘owner benefit’ as opposed to the ‘earnings’ of the business. Add-backs or normalizations are applied to the pre-tax business earnings and expenses to adjusted fair market value.

Earnings Before Interest Taxes Depreciation Amortization (EBITDA) is generally utilized by larger companies with income in excess of $1 million to define the earnings of the company.  In most cases, the owner/investor does not actively direct the company operations and pays a general manager to perform that function.  Therefore, the EBITDA calculation differs from SDE as it includes the manager’s compensation in the earnings calculation as an expense.  EBITDA is a good measure of core profit trends because it eliminates some of the extraneous factors and allows a more "apples-to-apples" comparison.  However, EBITDA should not replace the measure of cash flow, which includes the significant factor of changes in working capital. 

These methodologies all use historical data and do not account for the current cycle or health of the industry in the current economy, nor do they account for the condition of the geographical area the company services. These two factors are the other important considerations in each valuation analysis provided by BC Business Brokers. To develop a full picture of the health of any given firm, a multitude of measures must be taken into consideration.

BC Business Brokers receive in-depth training in the 12 common accounting methodologies of Business Valuation through the IBBA University (International Business Brokers Association), have prior business ownership experience, and are provincially licensed and regulated.  If you are contemplating the sale of your business, or may be considering small business ownership, feel free to contact the Sunbelt Nanaimo office – we can help you.  Visit our local website at www.bcbusinessbroker.ca or www.sunbeltnetwork.com/vancouverisland or phone 1-877-289-0969.

Top 5 Reasons to use a Business Broker in Canada

Today's post is a good reminder to all potential buyers and sellers out there of how brokers like BC Business Brokers can support you with the process of buying or selling a business. Michael Torner encourages this idea in an article that shows the benefits of hiring a business broker by listing five main reasons.

A business broker acts like the middleman between the buyer and the seller. A broker can be a person or a firm which supports the buyer or the seller (whoever hired them) during the whole transaction process. 

One of the most frequent questions asked by prospective buyers or sellers of a business is whether they should hire a broker or not? The answer is “Yes… but the right one!” If you are looking for a business in Canada find a business broker who has had some good experience in this region and can assist you from beginning to end i.e. right from finding the right business till the time you start owning it.

Let’s have a closer look at Top 5 reasons why you should hire a broker if you are looking for a business for sale:

1. For sale listings: Brokers provide you the necessary business-for-sale listings without which you will be like a blind person in a garden full of flowers. Brokerage firms usually maintain a database of businesses for sale. You can go through the huge pool of sellers and choose the business which suits you the best. 

"Franchise Homework"

Buying a franchise is a major decision in which many factors should be considered. The article "Do your homework before you buy a franchise", by Tony Wilson, can help potential franchise investors making the right decision by reviewing some important issues.

Franchised businesses are never supposed to fail. But on occasion, they do.

That's why doing your homework before you “buy” is so important, so the prospective franchisee can avoid disastrous mistakes and the agony of defeat. Legally, franchising is very document-intensive and it is important for prospective franchisees to understand what they are signing. 

Here are a few matters to keep in mind when thinking about buying a franchise:

• Although you may be purchasing the tables, chairs and other assets related to the business, remember that, conceptually, you aren't buying. Instead, you are acquiring the legal right to use a franchisor's business system and trademark for the term of the franchise and any renewals. When that's over, the franchisor has no obligation to offer you a new franchise so, in some ways, you're just renting the rights.

• If you're living in Ontario, Alberta or PEI, has disclosure been provided to you under the laws of those provinces? Have you read the Disclosure Document and Franchise Agreement and discussed it with your legal and financial advisers? If you live in another province, is the franchisor providing you with a copy of its disclosure document (and if not why not)?

Career Opportunity: "Professional Business Brokers in Demand"

Business brokerage is an exciting and rewarding profession.  The purpose of a Business Broker is to facilitate the sale of a business and provide guidance to the owner.  Business Brokers provide the opportunity to help people sell their business that they have worked hard to build and is usually their biggest financial asset. For a small business, the broker is an educator, explaining what is involved in selling a business, packaging the business into what investors are looking for and also to source out the investors.  More importantly, effective brokers will have knowledge of pricing trends in the marketplace. Professional Business Brokers, also called business transfer agents or intermediaries, assist business owners to sell their businesses by analyzing the most probable selling price for the business, matching screened buyers and streamlining the selling process.  The business brokerage industry allows you to be an independent business person with an income potential that is open-ended, and it offers an excellent lifestyle.  In British Columbia, a real estate license is required.  Knowledge of financial statements and prior business ownership experience is an asset, but our brokers come from all backgrounds and experiences.

At BC Business Brokers we are always looking for qualified individuals to enhance our team of Professional Business Brokers throughout Vancouver Island and interior British Columbia. If you or someone you know has experience in business, finance, real estate, accounting, law, marketing, valuations, appraisals or sales, we would like to hear from you. For more information on this exciting career opportunity, please contact Michael Naprawa at 250-751-7917 or e-mail us at career@bcbusinessbroker.ca

For Sale By Owner?

You’ve made the decision. You want to sell your business. Perhaps you are seeking a change in career or you’ve done your time and the golfing greens are calling your name. For whatever the reason, your business is up for a transfer in ownership and you hope to find the right buyer who will recognize the value of your business. Where do you start? With the advent of several online marketplaces, sites where you can reach a large number of buyers, do you need the assistance of an expert or can you do it yourself? Professional Business Brokers, also called business transfer agents or intermediaries, assist business owners to sell their businesses by matching screened buyers and streamlining the selling process. Sounds easy? Perhaps, if you have the time and the skill. But, consider what an effective business broker does:

- Values the business utilizing multiple methodologies, providing the most probable selling price for the current market
- Presents to prospective buyers the true value of the business through “normalization” of financials
- Assists with “presale” preparations, helping owners best position their business for sale
- Markets the business using newspaper & internet advertising, internal buyer lists, targeted solicitations and web advertising
- Adds a layer of confidentiality by advertising the business for sale without disclosing its identity
- Screens and qualifies buyers and/or strategic partners, creatively structuring the deal
- Helps keep a complex process legal—business brokers have contracts such as Letters of Intent, NDAs (Non Disclosure Agreements) and can often reduce the owners’ legal fees
- Manages the progress of “due diligence” investigation with lawyers and accountants, pivotal to a successful closing
- Negotiates with buyers and closes the deal

Sunbelt provides outstanding resources, expertise and people who are dedicated to the success of its clients. You are welcome to visit www.sunbeltnetwork.com/vancouverisland or our local website www.bcbusinessbroker.ca, or call 250-751-7917 to learn more about what our business brokers can do for you.

Our New Website Has Been Launched!

BC Business Brokers is an innovative, professional brokerage firm that specializes in the sale, transfer or merger of businesses. With affiliations worldwide our reach is global, but our real strength is in knowing our local markets.

Whether you are looking to sell your business or interested in buying a business, we encourage you to have a look through our website to discover the types of service and benefits you can expect as a BC Business Brokers client.

Please feel free to have a look around our new website. You will find all the information related to selling or buying a business, useful links and company details. And check out our businesses for sale pages featuring a diverse range of listings and other exciting investment opportunities.

Thank you for your visit and we look forward to hearing from you soon,

The BC Business Brokers Management Team

Cowichan Valley Toasts A Passionate Wine Lover

After 25 years in retail, the new owner of Wine Kitz in Duncan is no stranger to the winemaking industry.  His love for winemaking began in 2002 sparking an entrepreneurial passion for high quality wines. “I knew I fit in well in this industry,” says Mr. Ron Tanguay, who previously owned and operated two restaurants in Cambridge, Ontario. Since the inception of Wine Kitz in 1959, the franchise has been the leader in the consumer winemaking industry and today is one the world’s largest and most respected winemaking retailers. And that’s what motivated Mr. Tanguay to seriously explore a career opportunity in something he loved: wine.

BC's Economy is Looking Up

On April the 12th the government of British Columbia released a report revealing a number of interesting economic indicators. Overall the economic climate seems to be improving, below a list with some positive economic indicators can be found:

- Major construction project in B.C. hold strong

- Building permits on the rise

- 2010 first quarter housing starts doubles 2009 figure

- B.C. forecast to lead Canada in new home starts

- Conference board forecasts B.C. to lead Canada in growth in 2010

- B.C. to lead nation in job creation

- Vancouver's economic growth expected to lead Canadian cities

- Consumer confidence in B.C. up yet again

- Business confidence remains strong

- Vancouver a top city for international competitiveness

- B.C. continues to record strong population growth

- B.C.'s housing sales continue positive rebound

- B.C. remains a box office leader in film and TV production

- China grants Canada approved destination status

Source: BC Government Website, 2010

When to Sell a Business

Finding the right time to sell your business can prove to be quite a challenge. The following article shows a number of signs that indicate that it might be time to move on.

A survey of business activity nationwide shows that many sellers are taking advantage of the window of opportunity offered by today's favorable marketplace. In this recent survey, almost one-third of business owners responded that they are considering the sale of their business. The first question one might ask, given the relatively healthy financial climate, is WHY? Selling when times are good? The answer, for many sellers, can be a resounding YES! Here are some of the reasons why, followed by tips for getting the process started.

The Buyers Are Out There: The current economic upturn has depended to a great extent on trimming the corporate fat. Executives and middle managers out of work--and determined not to be "downsized" by big business again--are eyeing the advantages of being in business for themselves. Since 1990, the percentage has steadily grown of those corporate executives who leave jobs in order to become independent business owners. It isn't just the money they are dreaming of--it's the desire for more control over their lives.

The Importance of Succession Planning

Selecting an appropriate successor is crucial to the survival of a business. A good business plans today for tomorrow. The issue of succession, specifically aimed at British Columbia, is discussed in an article featured in BC Business Online:

With the majority of B.C. employers qualifying as small businesses, it’s no wonder experts such as succession-planning lawyer Don Sihota and the executive director of UBC’s Business Families Centre, Judi Cunningham, are warning small businesses about the danger of delaying succession planning.

This is “a huge issue, not only for business owners themselves, but really for the economy as a whole,” says Sihota. Cunningham points out that B.C. will see trillions of dollars passing between owners and their chosen successors within the next 15 to 20 years.

BC's Self Employment Boom

The Globe and Mail featured an article about how entrepreneurship is flourishing in British Columbia. The article states that more and more people find self employment the way to go. 

After a decade repairing helicopters in places from the Arctic to Mexico, Marc Bonin grew weary of the turbulence in B.C.'s economically sensitive aviation industry. He wanted stability, and a chance to spend more time with his young son.

 

So last June he threw open his doors as the Car Butler – a service geared toward busy Vancouver-area doctors, lawyers and executives, which picks up and oversees repairs of their cars. It was a decision forged by choice, one that he said gives him more flexible work hours, potential for higher earnings, less need to travel and a chance to start something from scratch. Mr. Bonin, 38, plans to franchise his business in the next three years.

“I see it as my own creation. Many people relate it to babies, how they grow, and I can totally see it that way,” he said.

Many others across the country can relate. More than 115,000 Canadians became self-employed in a recent one-year period, a study released Monday showed.

10 Tips for Buying a Small Business

Based on a survey conducted by Merger Network in 2009 among 350 recent buyers, a list of 10 Tips for Buying a Small Business was compiled.

1. Activate your Social Network. Friends, relatives, and business associates are the best resources to tap when it comes to looking for potential business opportunities,   according to recent buyers. Business intermediaries are another potential source for finding out about new business ventures. The majority of respondents indicated the web as the top place to start your search.

2. Get your financial house in order. One of the first things buyers suggest is to get your financing in order. Be sure you have enough money to cover costs for 12‐18 months, add 50% to your   estimates for unforeseen expenses and don’t forget about advertising and marketing budgets. Respondents cautioned prospective buyers to keep the economic downturn in mind when preparing forecasts. Be conservative and be prepared.

Tofino Chamber of Commerce - Investor Open House

Taken from the Tofino Chamber of Commerce newsletter:

" On the 21st of March a group of Iranian investors will visit Tofino to look for investment opportunities. The visit is a part of the SunBelt Investors British Columbia Investment Orientation Tour, designed to show investors what BC has to offer. Because the Iranians are focused on Vancouver Island, investments would stimulate the local economy and create employment opportunities therefore positively influencing the local economy.
 

An open house will be held by the Tofino-Long Beach Chamber of Commerce at Cable Cove Inn's waterfront Yurt on Sunday, March 21st at 7:30pm. Members seeking investors or growth financing are welcome to attend and present their ideas. Michael Naprawa, the owner of Sunbelt Nanaimo, will also discuss investment opportunities in Tofino."

For more information, please contact info@tofinochamber.org or nanaimo@sunbeltnetwork.com.