How could rises in positivity towards business finance affect the business sales market? Survey Results 1/9/2012

What Xcllusive Says:

Zoran Sarabaca, Pricipal
“This survey shows that the uncertainty in the business salesmarket is still an issue with little more than slight rises or falls in positivity for all questions surveyed.The big surprise came from a 6% rise in positivity towards the ease at which a business purchase can be financed. Unfortunately this rise in positivity still leaves the result at below neutral.Historically any rise in this area has meant that confidence in other areas of the market also will be boosted over time as a result.

This can to be attributed to the simple fact that the easier it is to finance a business purchase, the easier it is to buy a business.

Buyersʼ perceptions of attainability have almost always affected their perceptions of business value. If we continue to see raises in the financial area it could an indicator that the market will improve.

In the meantime, however the market is looking as uncertain as it was in the last survey period and it remains to be seen if this situation will change.”

- Zoran Sarabaca

The Results

Xcllusive survey results

The overall results of the July / August Business Buyer Sentiment Survey indicates that current business buyerʼs confidence in the market is low, with a slight rise since the last survey; two months ago.

There were only minor changes in all areas, as this survey once again found that results in all areas to be either neutral or low.

Question 1, indicating the likelihood of buyers finding a business at this time; saw a slight rise in positivity with 41.2% of respondents returning a positive response and 20.2% of buyers responding negatively.

Question 2, which examined the current market as compared to six months ago, was static with a definitive 53.1% of respondents believing that there has been no change in the market with only 28.4% of respondents reporting that the market appears to have improved.

Question 3, which asked respondents whether or not they believe they should hold off buying a business, returned a fairly even spread of results with 36% responding negatively, 31.6% returning a neutral response and 32.5% responding positively.

Surprisingly, Question 4, which indicates the ease at which a business purchase may be financed, returned the largest overall increase in positivity with a 6% rise. Although 58.8% of respondents still responded negatively, that number is significantly down from the 73.2% of respondents from the last survey period.

We’d love to know what you think too! Take part in the next survey by clicking here. It only takes about a minute!

By Zoran Sarabaca

Xcllusive Business Sales
Sell your business with Certainty


Survey Results 1/7/2012

What Xcllusive Says:

Zoran Sarabaca, Pricipal
“This survey has shown a lot of uncertainty on the market, with buyers either equally divided about the possibility of finding a good business or uncertain. One thing that most of the buyers seem to agree on is the availability of finance for SMEs being either very hard or at best, difficult to attain. Because of this market state, it is a frequent occurrence that sellers will provide some form of vendor finance in order to secure the sale.Uncertainty in the market always increases perceived risk from the buyers’ point of view. This, together with hard to obtain finance has definitely created a buyers’ market. When the market is in this state, owners of good businesses are generally discouraged from selling, creating a shortage of quality businesses for sale. Ironically, this in turn makes good businesses easier to sell due to a lack of competition, though, still with prices lower than pre-GFC. From what we can see in this market, it doesn’t look like this trend is going to change any time soon.”

- Zoran Sarabaca

The Results

Xcllusive survey results

This month’s survey has seen neutral or low results for all questions asked. Question one, which indicates the likelihood of buyers finding a business that suits their requirements in the current market, returned a fairly even spread of results. 37.5% of respondents returned a positive response, 31.5% reported that they were unsure, and 30.9% of respondents returned a negative response.

Question three, which asked respondents whether they would be more likely to purchase a business now or in six months, returned a similar spread of results with 38.5% responding negatively, 27.7% reporting that there will be no change and 33.7% saying that they believe that now is a good time to purchase a business.

Question two, which compared the current business sales industry to how it was six months ago, returned a more definitive result with 46.3% of respondents reporting that there has been no change in the industry from that time.

Of the four questions, the most significant result was from question four which indicates the ease at which finance for a business purchase can be accessed, with a massive 73.2% of respondents reporting that finance is either difficult or very hard to obtain, and only 6% of respondents returning a positive response.

The sum of these results has indicated that the overall sentiment from business buyers is low, sitting just below neutral.

By Zoran Sarabaca

Xcllusive Business Sales
Sell your business with Certainty


Survey 10: With buyer sentiment remaining relatively neutral, how did one business cause business buyer enquiries to jump by 17%?

With business-buyers’ positivity seemingly cemented to only slightly higher or lower than neutral, one would expect that the enquiry rate from that same group would mirror that sentiment. In contrast, this survey period, Xcllusive has seen an unexpectedly large jump in enquiries from business buyers. New buyer enquiries rose by over 9% this period and business enquiries overall rose by approximately 17%. In fact, May’s new buyer enquiries were the highest they’ve been in over 8 months. Which begs the question, when buyer sentiment is so neutral, why was there a surge in enquiries? Truthfully, we didn’t have to look far to find the answer:

One little accounting practice for sale.

Over the course of the business’s first week on the market it received four offers and more than double the enquiries that most businesses will get over the course of three months. A response rate this high is so rare that the last time we saw it was six months ago during the first week of marketing for the last accounting practice Xcllusive worked with.

This is what it is like to sell a business in an in-demand market. Which begs the question, what are the factors that are making accounting practices so attractive at the moment, and how can sellers in other industries mimic that?

Factors that make accounting practices attractive in the current market:

  • Security of income
  • Easy to incorporate into an existing business
  • Repeat business
  • Easy for existing accountants to operate
  • High necessity service
  • Easy to finance – NAB will finance 60% – 80% of total annual revenue
  • Low supply, high demand

Realistically, it will be difficult, if not impossible, for other industries to tick all of these boxes. For example, not all businesses can be incorporated into an existing business, nor is business finance easy to obtain for most businesses for sale. This too has been reflected in this month’s survey, with respondents returning the lowest result in 12 months in regards to their ability to obtain finance.

Not all businesses offer a high necessity service either, leaving us with only a handful of factors that can be addressed to bring a business up in the business sales market. Here’s a brief overview of how business sellers might do this for their business based on the key factors listed above:

Security of Income
This can be established by having a solid set of financials for at least the three most recent years. Generally though, the longer the business has been established with either consistent or growing profits, the better.

Repeat Business
Most businesses do have some form of repeat business, but rarely is this recorded. Take steps to firstly establish what portion of your business is built through repeat business, and secondly, establish a method to ensure maximum retention of this group when a new vendor takes over.

Ease of Operation
All businesses have their own idiosyncrasies in the way that they are run. To a buyer though, these idiosyncrasies will be perceived as elements of operation that will make running the business difficult. To allay this concern, offer to your buyers a training period in which they can learn the ropes. A buyer will feel comfortable buying a business once they know that they will be able to maintain and grow it.

The results of this month’s survey have indicated that confidence in the current buyers market is still low, meaning that business sellers must take steps to boost confidence in their own business rather than simply waiting for a confident buyer. Accounting practices naturally do this, the result of which is that the buyer response is higher than the average buyer response even before the global financial crisis. In this market, this kind of response is difficult for sellers in other industries to aspire to; but aspire they must. By taking the right steps and the right preparation, and most importantly, helping a buyer see the value in his or her business, a business seller can find the right buyer and most importantly, get them across the line.

Survey Results:

By Zoran Sarabaca

Xcllusive Business Sales
Sell your business with Certainty

* Disclaimer: This survey was distributed to over 2,150 people through the Xcllusive database. The information generated is from a series of questions asked in that survey. All of the results can be found on the Xcllusive website Please note Xcllusive does not guarantee the findings are free from errors and that this survey is not to be considered as business advice.


Survey 9: Are the difficulties in obtaining finance negatively affecting perceptions of pricing and availability?

This survey period saw a substantial non-consecutive dip in buyer positivity. The biggest drop in positivity occurred in the pricing and availability of businesses for sale on the market in which positivity dropped by a massive 13.1%. Alarming though this drop is, business pricing is almost always the primary barrier to reconcile between buyer and seller and can be affected by any number of factors. A business may in fact be overpriced, but it may also be the case that buyers’ perceptions of value and/or attainability may also be down.

For example, buyers’ perceptions of attainability will almost certainly be affected by their ability to obtain finance, thus making the purchase more achievable. With business loans in Australia still being stifled by the European credit crisis, some major banks have announced fresh rate hikes for business loans. Under these circumstances it’s not in the least bit surprising that with business buyers getting hit on both sides of the finance hurdle, positivity in this area has dropped by 7.7% this survey cycle. That said, despite this sudden drop, it appears that we are still better off than we were a year ago.

The final notable drops came from buyers’ positivity towards the likelihood of buying a business and their positivity towards buyer a business in the current market. These saw a 7.35% and a 4.23% drop respectively. The good news is that despite these drops, perceptions of these fields still remain in the positive.

Overall, it was not a good month for buyer positivity, with dips in all areas. One thing that can be taken away from this is that despite a generally negative market, businesses are still being bought and sold, and where deals are being made there is always opportunity.

By Zoran Sarabaca

Xcllusive Business Sales
Sell your business with Certainty


Vote for Xcllusive in the 1300AUSTRALIA People’s Choice Awards.

As a brief sway away from our usual articles and reporting, we’d like to take a few moments to request that you vote for us in the People’s Choice Awards 2012.

Our focus on clients, business model and dedication to providing useful, relevant materials to business sellers and buyers is something that we are extremely proud of. To receive recognition for our work and effort through this award would mean a great deal to us and our clients.

If you could please take take a few moments of your time to vote we would really appreciated it. Just a quick click and you’re done!

Click Here to Vote for Us!

- Thank you from the team at Xcllusive Business Sales


The Survey- What’s being asked and what’s being said. Period 10.

Click here to be taken straight to the survey!

There are five questions being asked of each entrant. Response was given as a number between one and ten, ‘one’ being a negative response, and ‘ten’ being a positive response.

The questions addressed the following areas:

Question 1: Addresses how likely it is that buyers feel they are going to find a business for sale that suits them in the next six months.

Question 2: Addresses how positive buyers feel about buying a business.

Question 3: Addresses how buyers see the current economic and business climate changing over the next 6 months

Question 4: Addresses how easy buyers feel it would be to finance a business purchase in the current climate

Questions 5: Addresses how buyers feel about the current supply of businesses on the market.

The current results are as follows



How rising unemployment may affect the business sales market and the saleability of your business

Three months ago I was at my local hotel and noticed a new member of the bar staff. He looked out of place amongst the others behind the bar so I struck up a conversation. Turns out, he used to be a financial analyst with one of Australia’s biggest financial institutions.

These are strange times we live in.

With many major corporations and financial institutions announcing mass layoffs over the past few weeks, a new wave of negativity has been injected into the market. Despite this, recent survey results have actually showed an increase in both a buyer’s likelihood of buying a business (6.9%+) and positivity towards buying a business today (3.1%+)

Given the doom and gloom being reported at the moment, these results may seem incongruous with current events, however they actually tie in quite closely with the motivations that spur business buyers. The motivation for buying a business changes with the economic climate. In positive times the business buyer pool is largely populated with securely employed individuals looking to take a risk by leaving their jobs with the intention of making higher profits than their jobs can provide. In uncertain times however, this motivation couldn’t be farther from their minds.

In September of last year we sold a business to an individual who was leaving their middle management job because they weren’t certain that the job was going to remain secure. This person’s motivations are a perfect example of why many people are buying businesses today: to take control of their financial future and secure their income through investment. With the recent layoffs in middle management, it is expected that this motivation will be the driving force behind many business sales in the months to come.

With this motivation also comes a change in the criteria that most attracts buyers. In times of more certainty, buyers are willing to take more risks in exchange for potential high profits. Though the motivation for high profits still remains, the stability of the business is becoming increasingly more important than it already was for this new pool of buyers. High-profit, high-risk businesses are becoming significantly harder to find buyers for at premium prices, and the reason is this: at the moment buyers are more concerned with financial security than increasing their wealth. It is for this reason that the profit multiplier used to value businesses is dropping.

So how will this affect your business? The more protected your business is, the more likely it is to sell. The factors that are most important to buyers today are as follows-

  • Length of operation
  • Even spread of suppliers
  • Even spread of clients
  • Good lease length with options
  • Solid and thorough financials
  • Limited competition with reasonable barriers to entry

This is not to say that buyers weren’t concerned with these things in the past, but more to say that in the past these factors could be more easily offset by high profits. In contrast, in today’s market they affect the business’s ability to sell or even receive enquiries unless the price is dropped dramatically.

The main point to be taken away from this is that there is a new wave of cautious buyers entering the market. These buyers are in a position where buying a business is increasingly becoming a necessity, but as they are coming from otherwise stable jobs they will be looking for equal stability in their investment. Businesses with higher risk factors will still sell, but it is vital that the risk is offset in the price for which it is marketed. Having more buyers is always a good thing, but the game is changing, and how you play it will determine your success.

By Zoran Sarabaca

Xcllusive Business Sales
Sell your business with Certainty


Is there really a ‘best time’ to sell your business?

Just how important is timing when selling your business? To answer this question we take a look at the relationship between timing and performance and assess how these factors can affect your eventual selling price.

For most sellers, regardless of their reasons for selling, the goal of a business sale is to get the best price possible for their hard work. One of the most crucial elements in determining a price is the business’s current and most recent performance. It is therefore of the utmost importance to take a rational and measured approach to using this information to not only establish a price for which the business will most likely sell, but also and perhaps more importantly, inform the seller on whether or not now is a good time to sell.

Choosing when to sell a business is not an exact science, and can be even less so in an uncertain economic climate, but there are certain truths that simply don’t change. What follows is an analysis of the three most common trends in a business’s performance as well as suggestions on how to use this information to your advantage.

1. Declining performance or ailing industry.

It is not at all uncommon for business sellers to wait until this point to sell their business. The problems with selling your business whilst it is on a decline may be obvious from the outside, but for many hard working business owners, the problems are often quite hard to accept or even see.

Quite simply, you cannot price the business on historical sales because the trend indicates that those profits are diminishing. So what are your options? The first is to price the business on the most recent year’s profits or lower. This is often a hard decision to execute given the emotional attachment one can have with their business, but in order to attract a buyer it may be the only viable course of action. The second option is to continue running the business until you can demonstrate that that business performance is picking up or levelling out. Though this course of action may mean a few more years in the business, a consistent and steadily performing business is significantly more likely to sell than a declining business, even at the right price.

2. Slightly varied or sustained performance in steady industry

Businesses in this position tend to have a much higher sales success rate than business’s in decline. In these situations, the price is generally based upon the average of the last three to five years’ profits. The important thing to remember if you are selling a business in this state is; you cannot relax whilst the business is on the market. It may not be a quick sale, and given that the strength of consistent businesses is the implication of sustained and unthreatened income, if profits falter, or

drop two years in a row, the primary strength of the business is lost. Far too many businesses in this position have not sold because the owner started to wind down their efforts before the business was sold. The last 100 metres in a marathon can often be the most important.

3. Rising performance in a steady or climbing industry

As one might expect, businesses in a state of growth are the most likely to sell. They tend to sell quicker, gain more enquiries and sell for higher prices. The irony of this is that in situations when a business is most ripe for selling, the owner is the least likely to sell. This isn’t necessarily a bad thing of course; if everybody sold their business as soon as it exhibited signs of growth, nobody would make any money. The point is; if you are thinking of selling, you shouldn’t wait until your business is in decline, a state that is the least appealing to buyers, before you decide to ‘cash in’. Buyers are prepared to pay a lot more for increasing profits.

Though these examples represent a simplified breakdown of what can be an incredibly complex and varied landscape, in all cases, the businesses are priced on their historical and current profits, that is, a relatively short period of time in which the profits are compared in order to project the businesses future performance. It seems that the timing of your business’s profit cycle is therefore central to what kind of return you will get for your investment. So when choosing when to sell your business, if you want the highest price possible, don’t be afraid to make a move whilst your business is improving. It can make the difference between negotiating with one buyer who wants to pay you less, and choosing between a handful of buyers who are fighting to pay you more.

By Zoran Sarabaca
Xcllusive Business Sales
Sell your business with certainty



Selling accounting practices in today’s environment: Five things you can do so you never need clawbacks.

The past few years have seen some changes within the business sales industry, with a noticeable swing in favour of business buyers. Though is more true for certain industries, it couldn’t be less true for accounting practices. The increasing demand for accounting practices for sale has lead to a number of changes in the way that buyers are seeking these businesses, as well as the way in which they’re valued.

Historically, accounting practices were valued at between 50 – 120 cents in the dollar based on market value. So, for example, if the turnover was $1M and the business was valued at $0.70 to the dollar, the business would sell for $700k. This method, despite being used by most professional practices is not without its drawbacks. Being based heavily on the turnover, this method often does not take into account the efficiency of the practice in that higher profit margins are not necessarily rewarded. Furthermore, accounting practices are also hit with clawback clauses under this valuation method, with only 55-70% paid up front. The remaining percentage is usually paid after a 12-month period or similar, subject to the success of the business during that time. Clawback clauses can often be something of a problem for accountants wishing to sell their practice, particularly as once the business sells, the departing owner has no control over its success or failure, despite being financially tied to it.

Overall, this valuation method, though effective, has often left business owners out of pocket due to these clawbacks and a lack of reward to practices with higher profit margins. With an increase in demand for accounting practices however, and a newer generation of buyers entering the industry, it appears that this method is being phased out in favour of Return on Investement (ROI).

As it does with other business types, the ROI method of appraisal takes into account risk versus profit, as opposed to Market Value versus turnover. This shift heralds a substantial change in the way that accounting practices are valued and though there are a number of factors contributing to it, the reason for this change seems to largely be the result of the newer generation of buyers entering the market.

The newer generation of buyers are increasingly accepting ROI valuations for accounting practices. Being that it is the more common valuation method across all industries, these new buyers bring with them an expectation that they paying a price based on the potential future profits as opposed to the current turnover.

With this shift, comes a handful of advantages to well structured businesses. The immediate advantage is that well structured, more profitable practices will be rewarded under this valuation method. The secondary advantage is that it effectively removes the need for clawbacks as the risks that are usually associated with clawbacks (ie. loss of clients), are factored into calculating the ROI. This opens up accounting practice owners to higher immediate returns when it comes time to sell, but it also means that different approaches need to be used during the sale in order to take achieve those returns.

The main issue with circumventing the expectation for clawbacks is the culture of clawbacks associated with accounting practices. In almost no other field are these expected, and though there are good reasons why clawbacks are used in accounting practice sales, there are things that business owners can do to remove their necessity.

The primary reason that clawbacks are used is that there is minimal certainty in regards to which clients will remain with the practice one you have left. In order to address this uncertainty an appropriate handover method must be devised and more in-depth sales document needs to be prepared. The idea is to remove uncertainty through information.  Here are five tips to follow if you are considering selling your practice and want to avoid clawbacks all together.

1)   Be more transparent. Provide an in-depth break down of current clients.
Though this information is usually provided during the due diligence phase, a breakdown of client numbers is absolutely essential to lessening the need for clawbacks. This information is used by buyers to make their biggest purchasing decisions, and should be made as transparent as possible in order to reduce uncertainty in the purchase. You should endeavour to provide, to the best of your abilities, the following information: 

  • Breakup of clients per return type
  • Spread of fee Income
  • Geographical Location of clients
  • Client time with the practice
  • Taxable income per client

2)   Provide accurate descriptions of your relationships to your top clients.
There are two primary reasons why clients will leave a practice after a handover. The first is everyday reasons (change of situation, bankruptcy, death etc), the second is as a result of the handover.  Everyday reasons are addressed in point four of this list, but for the most part, these are just a part of the business. What buyers are really worried about is losing bigger clients as a result of the sale. It is for this reason that they need to be firstly made aware of your relationship to your biggest clients. This means a description of tasks you undertake for them, your history, primary points of contact and the steps you intent to take to enable the new owner to forge a new relationship with these clients. The types of steps you can take are as follows.

3)   Devise a handover period designed to help the incoming owner keep as many clients as possible.
The handover period begins prior to the conclusion of the sale and concludes after the sale has taken place. The primary outcome of a good handover period with accounting practices is to help the incoming owner retain as many clients as possible. It is also advisable that you arrange to call your biggest clients or even visit them with the new owner to facilitate the introduction.  This type of handover period will involve more work from your end, but you keep in mind that if you do it well, you will be significantly reducing the risk of loss of clients to the new owner. By reducing this loss, you are removing, or at the very least, lessening the need for clawbacks.

4)   Provide realistic projections of loss of clients based on history of lost clients.
With your client base protected to the best of your abilities, it may also be worth preparing a projection of client retention over an average year. Include, to the best of your knowledge, how many clients were lost/became inactive, how many clients were gained and the ways in which they were gained. It is important to be open and frank with your analysis. If the majority of your clients are gained through standard marketing then fantastic, however, if a notable portion of new clients are gained through professional referrals it is worth reporting. This type of warts and all approach will increase a buyer’s trust in you and the business, and allow them to make educated decisions rather than risky guesses.

5)   Prepare a sales document outlining the business to be given to enquirers. Make sure you cover the above four points.
Having prepared your clients as well as your business, the final piece of the puzzle is to present it. It’s important to remain frank and open in your sales document. Obviously, the primary purpose of a Sales Memorandum is to sell your business, but it must present the business realistically. Put yourself in the buyer’s shoes. Who’s opinion would you trust more: a mechanic who tells you all the good and bad about a car, or a used car salesmen who tells you it’s a ’dream to drive’? Don’t simply ‘sell’ your business to a buyer, but help them understand it from the inside out. The only reason for having clawbacks in the first place is to offset risk, and if you can remove the risk, you will not have to negate it. As part of this document you should also endeavour to provide, to the best of your abilities, the following information:

  • Full P&L for at least the last three years and YTD
  • Marketing breakup and explanation
  • Annual income month-by month for all three years
  • Skills and qualifications of all the staff within the practice
  • Skills and level of involvement of the owner.

You may find that you feel uncomfortable reporting negatively on your business in this fashion. This is absolutely understandable, and indeed, you should be painting the best possible picture of your business for prospective buyers. Consider this though: Clawbacks exist to protect against risk. If clients are lost during the clawback period you will not get paid for that portion of the business at the conclusion of that period anyway. During this time you have little to no control over any aspect of the business or economy in general and if, heaven forbid, the business suffers severely after you leave, you are held financially accountable despite having no input. The alternative offered here is that you provide a reasonable and honest opinion of the businesses future performance and factor that into your price today. This approach could be the difference between getting paid less later, or more today.

By Zoran Sarabaca
Principal of Xcllusive Business Sales Pty Ltd
Sell your business with Certainty


Survey 7: With buyer confidence in the pricing and availability of businesses for sale dipping, could this be an opportunity or an indication of things to come?

The past six months worth of results had begun to show some very clear trends, all of which have been completely inverted this survey period, making this one of the biggest turnaround periods we’ve had. Some of these dips may seem alarming, however when it comes to business sales, every cloud has its silver lining.

One of the larger turnarounds came from the ability-to-finance-a-business-purchase question (4), in which confidence had been climbing steadily since June. This survey, confidence in this field dropped almost 8%.  The unique property of this question is that lending restrictions in Australia, set by the larger lenders, haven’t changed much at all in the past two years. This would suggest that responses to this question are often one of sentiment rather than practice. Perhaps the regular media coverage of the worsening financial situation in Europe is affecting perceptions here in Australia; we’ll just have to wait and see.

Questions (1) and (2) which pertain to the likelihood-of-buying-a-business and the positivity-of-buying-a-business-today followed their usual trend of moving in tandem, only this month their upward trend took a small downwards turn. The good news is that though confidence in these areas has dropped, they were only small drops and though it’s only by a hair-width, they remain in the positive.

Confidence in business pricing and availability (5) dropped over 6% this survey period heralding its first drop in 12 months. The results to this question have always been a point of interest for us as it is widely accepted that it is a buyer’s market in the business sales industry. (see AIBB’s Australian Businesses for Sale – Market Indicator) Businesses that used to sell for four and five times profit are now selling for two and three times. The fact is, there are some very well priced businesses out there, with a handful of confident buyers taking advantage of them. Five years ago you were paying as much as twice as what you’re paying for businesses now, meaning that if you can finance your purchase, now may be one of the better times to buy low. Though this is not assured, we can assume that once confidence returns, it is likely that business prices will begin to rise again. Which brings us to the final question.

The big surprise came from the question relating to buyer positivity towards the business and economic climate over the next six months (3), which saw its first serious rise since the survey started over 12 months ago. Jumping almost 9% in positivity, buyers’ perceptions of the changing market have moved swiftly back into the neutral after a year of increasing negativity. It could just be a one off result, but it could also be an indication of things to come.

So, is ‘now’ a good time to buy? Realistically, it could go either way and it’s anybody’s guess until we see economic stability return. That said, the fact still remains that businesses are selling for less than they were five years ago, but as to whether you should buy now; that’s up to you.

As usual, we are happy to bring you an analysis of these bi-monthly results as they come in, but we can’t do it without the results. If you have an interest in the outcomes of these figures please take the time to fill in the survey. It’s just five quick questions and it should take you under 60 seconds.  Your ongoing assistance in gathering this information is extremely important to us in that it enables us to present up-to-date and relevant information to you. Thanks again in advance for your time. Click here to take the survey.