Archives for July 2013

What Would Your Business Sell For?

There is the old anecdote about the immigrant who opened his own business in the United States. Like many small business owners, he had his own bookkeeping system. He kept his accounts payable in a cigar box on the left side of his cash register, his daily receipts – cash and credit card receipts – in the cash register, and his invoices and paid … [Read more...]

Five Top Tactics for Negotiating a Business Purchase

Numbers, industry statistics, forecasts and profit margins offer a defined picture of businesses that are available for sale but the majority of today’s entrepreneurial shoppers lack the knowledge needed to interpret this data into something that can push forward their own futures as business buyers. Half of Americans want to become business … [Read more...]

July News

Greetings Georgia Association of Business Brokers Members, Affiliates and Guests: The GABB will meet July 30 to discuss Pratt’s Stats, a valuable database that helps brokers and others determine the value of a business. This discussion is intended to help brokers address one of the top reasons that businesses do not sell, unreasonable pricing on … [Read more...]

The Truth about Powers of Attorney

By Germaine Curtin What exactly is a power of attorney?  Does it give me the same power as if I were a lawyer?  Do I become an attorney? What exactly does it allow me to do? Most people believe they understand powers of attorney, but many people are wrong. A power of attorney is simply a signed document that gives another person (the … [Read more...]

Are You Mad??

By Kathryne A. Pusch Not crazy. . . but angry? The business marketplace is a pressure-cooker, especially with the financial demands of the last few years. Our personal lives are often very stressful as well. All this stress can sometimes lead to behavioral reactions that surprise us—we never knew we could behave that way, or think those … [Read more...]

SBA Tidbits

Cheryl Beer, Sr. Vice President Cornerstone Bank Whether you are a seasoned broker or just beginning your career, information about SBA loan programs can help you steer your buyers and sellers in the right direction when structuring the sale of a business. The SBA 7(a) loan program is a term loan program that is generally guaranteed 75% by the … [Read more...]

Closing on Environmentally Impacted Real Estate

By Chris Fonzi Ask me about the worst-case scenario. Everyone with a contaminated piece of real estate does. How much can it cost? How long can it take? If you’ve had a deal torpedoed by an environmental contamination issue, the worst-case scenario was the veiled threat, the elephant in the middle of the closing table. In fact, contamination … [Read more...]

Buying or Selling a Business: The External View

There is the oft-told story about Ray Kroc, the founder of McDonalds. Before he approached the McDonald brothers at their California hamburger restaurant, he spent quite a few days sitting in his car watching the business. Only when he was convinced that the business and the concept worked, did he make an offer that the brothers could not refuse. … [Read more...]

What Would Your Business Sell For?

There is the old anecdote about the immigrant who opened his own business in the United States. Like many small business owners, he had his own bookkeeping system. He kept his accounts payable in a cigar box on the left side of his cash register, his daily receipts – cash and credit card receipts – in the cash register, and his invoices and paid … [Read more...]