What Makes a Deal Close?
For every reason that a pending sale of a business collapses, there is a positive reason why the sale closed successfully. What does it take for the sale of a business to close successfully? Certainly there are reasons that a sale might not close that are beyond anyone’s control. A fire, for example, the death of a principal, or a natural disaster such as a hurricane or tornado. There...Read More
Successfully Navigating Seller Financing
Only a small percentage of the population is able to go through life without using some form of financing at some point. Most people have little choice but to finance everything from their home and car purchases to their college education. Now, most business owners would love to receive an all-cash offer for their business. But the reality of most transactions is quite different. Owner...Read More
Buying a Distressed Business
Distressed businesses can represent a real and often overlooked opportunity for buyers, according to Howard Brownstein, President of The Brownstein Corporation. Brownstein is an expert in providing turnaround management and advisory services to companies, as well as their stakeholders and is considered to be one of the world’s top experts in distressed businesses. The recent economic...Read More
Price or Terms: The Structure of the Deal
An old saying in negotiating the sale of a business goes like this: The buyer says to the seller, “You name the price, and I get to name the terms.” Another saying used to explain the actual value of the term full price: “If we could find you a business that nets you $250,000 a year after debt service, and you could buy it for $100 down, would you really care what the full price was?” It...Read More
PPP Loans: Financing Business Purchases, Part 2
By Corrie Thrasher, partner, Starfield & Smith PC This article originated on the blog of the legal firm of Starfield & Smith Corrie Thrasher, partner, Starfield & Smith PC As discussed previously in my first article, many uncertainties exist when the owners of a business who received a Paycheck Protection Program (“PPP”) loan wish to transfer their business to a...Read More
Considering Generational Strategies in Business Relationships
When you are buying or selling a business, you might very well end up making a deal with someone from another generation. Therefore, it only makes sense to take the time to understand that individual’s background and how that might change how they behave. It is important to understand their collective experiences and the trends that shaped their identities and...Read More
The Biggest Mistakes Business Buyers Make
By Peter Siegel MBA, BizBen Founder The biggest mistake made by buyers is not seeking professional representation and guidance before closing the purchase transaction. Without an experienced broker or attorney on their side, a buyer is prone to making numerous mistakes, some of which can jeopardize the viability of the business. Even in those transactions that involved a business escrow and...Read More
How You can Help Local Restaurants Survive
By Hannah Eisenband, a Customer Service Specialist at We Sell Restaurants Restaurants are struggling. Restaurants have defined our economy for generations. In 2019, restaurants generated almost $900 billion in sales and employed more than 15 million people. It is estimated that 20-30% of restaurants will not survive this pandemic. This would mean that up to 4.5 million employees will...Read More
Essential Meeting Tips for Buyers & Sellers
The buyer-seller meeting is often a “make or break” meeting. Your business broker or M&A Advisor will do everything possible to ensure that this meeting goes smoothly. Understand that there is rarely any offer before buyers and sellers actually meet. The crucial offer usually comes directly after this all-important meeting. As a result, you want to ensure that...Read More