The firm serves Ohio and its surrounding states.

For standard, common businesses, we use our extensive sales data and industry reporting to provide a Broker's Opinion of Value. For larger or more complex businesses, we refer clients to a CPA firm with business valuation specialists. Proper valuation is critical—pricing too high means wasting time with no serious buyers; pricing correctly means attracting qualified buyers and closing the deal.

Sell when your business is performing well and you're still actively engaged—not when you're "coasting" toward retirement. Business owners who wait too long often stop reinvesting in equipment, technology, and staff, causing the business value to decline. It's better to sell while the business is strong rather than waiting for one more good year and risking a downturn.

An earnout is a payment structure where part of the purchase price is paid over time, often contingent on future performance. This is common when there are risk factors like customer concentration (e.g., one customer represents most of your revenue). Instead of receiving all cash upfront, the seller receives additional payments if certain milestones or performance targets are met after the sale.

You need three key professionals: a business broker (who acts as the captain of the team), a qualified CPA (to handle tax ramifications), and an experienced business transaction attorney (to help with letters of intent, purchase agreements, and other legal documents). Each plays a critical role in successfully completing the transaction.

A qualified broker pays for themselves by properly packaging all information, knowing how to market the business, bringing together a pool of qualified buyers, and ultimately securing the best price. Business owners who try to sell on their own or use inexperienced professionals often leave significant money on the table. Since selling your business is often your "last bite at the apple" after years of hard work, professional guidance is essential.

The top mistakes include:

1. Not hiring an experienced business broker who understands the complexities of business sales (not just a real estate agent)

2. Failing to properly value the business using professional appraisers or experienced brokers

3. Waiting too long to sell and "coasting" in the business—not reinvesting, losing key employees or customers, and letting the business decline in value

4. Not having a strong team of professionals including a broker, CPA, and experienced business attorney

No. You cannot have it both ways—reporting lower income to the IRS while claiming higher revenues and profits to potential buyers. This approach severely limits your sale price and credibility. Buyers and banks need to trust your numbers, and if they don't have faith in your financials, the deal won't happen. Business Network of Ohio typically won't take on clients who aren't reporting income properly.

You should implement a solid accounting system like QuickBooks and produce monthly financial statements consistently. Buyers and their team (CPA, lawyer, and especially the bank) will want to see detailed monthly financials. This documentation is critical for due diligence and securing financing. Start maintaining these records well before you plan to sell.

Larger businesses typically have better-organized financials, stronger professional support (CPAs, lawyers), and more systematic record-keeping with monthly financial statements. Smaller businesses often only produce annual tax returns and may lack organized monthly financials, making the sale process more challenging. The quality of information and documentation is usually much better in larger businesses.

The firm is led by a licensed attorney with experience in hundreds of business and real estate transactions, plus a licensed real estate broker and certified business broker. The team consists entirely of attorneys who bring M&A-level expertise typically reserved for larger deals down to the mid-market segment. This provides small to medium-sized business owners with the same quality of professional service that larger companies receive.

Business Network of Ohio focuses on businesses in the $1M – $20M sales price range across various industries throughout Ohio and its surrounding states.