Know who your investors are – Will they stand behind you? The majority of the buyers we see (whether individual or corporate) want to acquire a business as the sole owner. Successful partnerships are rare, let alone successful investor backed buyers. We often see a buyer who claims to have investors that will back them […]
It might seem like common sense, but the accounting in your business needs to be checked by a second set of eyes on a regular basis. Whether it is a mistake or intentional, the math doesn’t always add up. You may have a bookkeeper that does the daily accounting, but having an external accounting firm […]
Buying an existing business is a smart, lower risk proposition when compared to starting a new company from scratch. It is also a good solution for people that don’t have a unique idea or long term, sustainable cash flow to get a new business up and running. This is a message we have been sharing […]
Tax time is looming. As a business owner, it is important to actually FILE your tax returns. This might sound strange to you and it is… we actually have clients that have provided us with three years of tax returns as part of the due diligence process. As the deal progressed and the buyer’s bank […]
We recently helped a buyer and seller close a transaction. This is an example of a deal that worked because the buyer and seller overcame obstacles to get it done. The following happened over the course of two months. From the seller’s perspective When the deal got to the lender, the seller had to provide […]
Too often, companies don’t celebrate their growth. We are growing and excited to have Jeff Wilson join our team as a Senior Broker. Jeff joined us at the beginning of August. Doug has known Jeff for more than ten years and they go to church together. Jeff has joked that it was a REALLY long […]
It surprises people how many different professionals need to be at the table as we help you buy or sell a business. Besides your broker to facilitate the process, see the list below to start getting a sense of what we are talking about: Attorney with acquisition experience (Buyer and Seller) Tax Attorney (Seller) Accountant […]
State by state, city by city, there are licensing requirements that need to be investigated before getting too far into a deal. For example, if your plan was to buy multiple liquor stores in Kansas, you should know that only one license per individual is allowed. What this means is that you would need a […]
We have relationships with hundreds of potential buyers for a new business. When we get a new engagement, we communicate the particulars of the business to these potential buyers. This usually creates a buzz and some excitement around the newly listed business. Our seller gets excited, because we have 4 or 5 serious buyers interested. […]
It might seem like common sense, but you should not quit your current job before you are absolutely sure that your deal is complete. People get excited about starting in the new business and give their notice and order new business cards too soon. We had a buyer give notice, but he had not yet […]
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