GABB Sept. 29 Members Meeting for Strategic Planning
The GABB will gather on September 29 for a strategic planning meeting to discuss and plan the future of the organization, with an eye towards strengthening GABB and the profession of business brokering.
Because of the nature of our discussions, this meeting is for members only and will not be open to the public.
GABB Board members want member input to assist us in determining GABB’s primary objectives and adopting courses of actions to achieve these objectives.
Committees or areas to move forward include:
- Co-brokerage
- Professional Rules / Accountability
- Education
- Membership
- Media
In August, GABB Board members met with Andy Cagnetta, founder and CEO of Transworld Business Advisors, LLC., of Ft. Lauderdale, Florida. Andy is also past chairman of the International Business Brokers Association, and current Chairman of the Business Brokers of Florida. Here are some issues that arose during that meeting.
Co-brokerage: We will discuss how to make co-brokering more desireable and effective between GABB member brokers.
Professional education: Due to an increase in tuition for IBBA classes, the GABB and other professional business brokerage organizations are seeking new options for professional education for business brokerage.
Membership: How do we make membership more valuable and desirable in the business brokerage profession in Georgia?
Marketing & Media: How do we best use GABB dollars to market GABB members as the “go to” business brokers and M&A advisors in Georgia?
Rules and Accountability: What do we need to do to strengthen the professionalism of our broker members and hold those that engage in unprofessional or unethical conduct accountable for their actions?
We need everyone to pull together to work on this. Please attend the Sept. 29 meeting to express your opinion, or email your opinion to the board at board@gabb.orgGABB meetings begin with guest and member introductions.
The meeting will be held at 10:30 a.m. at the South Terraces Conference Center. Arrive early with your own cup of coffee to network with fellow members before the meeting. The South Terraces Conference Center is at 115 Perimeter Center Place, Atlanta.
Read MoreGeorgia Business Brokers Discuss Working With Buyers and Sellers
The collective wisdom of four brokers with 75 years experience was on stage Tuesday, June 30, as the Georgia Association of Business Brokers hosted a panel discussion on how to move buyers and sellers to the closing table.
Moderated by GABB Vice President Mike Ramatowski, the panel featured GABB Treasurer Jay Fenello, who specializes in helping people buy and sell small businesses and franchise resales; Kathryne Pusch, whose firm represents a wide spectrum of buyers and sellers; and J. Snypp, who works with both buyers and sellers of small to medium sized businesses in many different industries.
Listening, a lot of listening, to buyers and sellers, is a key aspect of how Pusch operates. “Each person we see has a different set of needs,” she said. “Each buyer and seller has different motivations, and so we’ve got to make that work. So in that sense we are problem solvers right.”
Be sure the buyer is prequalified for an SBA loan, and do due diligence, Pusch recommends. “You get financial statements, get a resume, get a bio. You look at that, and you say, ‘Can we fund this deal?’ So then we know that we have something that actually can work.”
“It’s great to have somebody who says I want to buy, but can that person actually buy the business?” Pusch asked. “Is there a way to make the deal work with the resources that they have with the experience that they have? For me getting prospective buyers and sellers together involves making sure I’ve got a true meeting of the minds.”
Pusch said brokers must avoid just displaying their knowledge while “trying to force people to do what we want,” and instead “we need to be listening to them to make sure we understand where they’re really coming from because I don’t believe there’s any real hostile takeovers in small business. You have to make it work, and they both have to really want it to work, and they both have to really feel like they’re winning.”
“The number one enemy we have in our in our business it’s the fear.” Money and time are also critical factors, “But for most people they will not do something if they can’t get over the fear hurdle, and they can’t do it if they can’t get over the financial hurdle.”
If brokers can help prospective buyers and sellers overcome anxieties about having a binding contract, they “can start to move that to the next stage we’re going to talk about next month, due diligence and getting that thing closed. which we all know takes lots of time and lots of tension,” Pusch said.
Snypp says his current deals range from $150,000 to $3.5 million, and said he asks for an upfront engagement fee from buyers and sellers.
“In the past, I’ve worked for months and months with a buyer who ended up not buying a business at all, going back in the corporate world, and I figured my time’s worth something. So we’re charging a fee up front to work with those people.” This policy avoids those clients who “will let you work and get offers just for their ego,” or “to find out what their business is worth to sell it to their cousin.”
The up-front money, refunded when a deal is closed, insures that both sides are committed, Snypp said.
In some deals, a buyer and seller are just really on top of things, Snypp said, “and they’re driving the deal more than I am because they are focused and they know what they want.” Snypp enjoys those deals because a broker can sit back and just provide guidance on potential missteps.
Snypp said he enjoys working with GABB affiliate lending institutions who will give him an honest answer about the viability of a deal. “I would much rather have a backer saying, ‘no this was not right for us,’ right up front and then we can find alternative lending or make some kind of changes within the deal structures.”
GABB attorneys have been essential in certain complicated deals, such as those involving stock transactions, Snypp said.
Efficiency is the key to Fenello’s specialty: main street clients, for which he gets a lot of referrals from GABB colleagues.
“I find that doing a transaction is a lot like a dance,” Fenello said. “You start out with two parties who don’t know each other, and you have to tell us what your finances look like before we’re going to show you the tax returns. You have to show us that you can financially do this deal before we let you talk to our accountant. So if you have a very definitive back and forth, everything gets done and everybody’s comfortable.”
Communication is also key, Fenello said. “The number one complaint I hear about business brokers in the low end of the market is ‘I haven’t heard from my broker in six months. I don’t know what’s going on out there. I don’t think he’s doing anything.’ “
To combat, Fenello sends a weekly report to every client describing what is happening in their market. “In order to do that, you have to be very automated. So I use a lot of automation to make my life easy.”
Ramatowski says when deals are active, he makes it a policy to contact clients once every 96 hours. Psychologically, the client should be contacted every 70-96 hours to allay anxieties about the approaching deal, he said.
Michael J. Ramatowski, CBI, has been a business broker for 26 years. Mike has served on the board of directors of eleven different organizations with diverse specialties including real estate brokerage, mortgage companies, title insurance, banking, health care, and office supply operations. He serves on three boards of directors where he provides marketing and organizational growth expertise. He has earned the Certified Business Intermediary professional designation by the International Business Brokers Association.
Fenello is principal and founder of BizPlacements.com, a full-service business brokerage firm that specializes in helping people buy, sell and improve small businesses and start-ups, especially owner-operated businesses and franchises. Jay, who is also associated with Keller Williams Realty, began his career in business brokerage in 1995 and has since worked for several brokerage firms, including one of the largest M&A firms in the country. Mr. Fenello began his career as a computer engineer for IBM in Boca Raton, Fla., where he worked on a new product called the IBM PC. After successfully designing a PC card and its supporting software, he left IBM for a small start-up called Core International. Mr. Fenello formed a company he called Iperdome, Inc in 1997, an internet venture that has turned into a world-wide process to establish internet governance. He has an engineering degree from the University of Florida, and an MBA in Entrepreneurship from the University of Arizona. Mr. Fenello is a member of the Atlanta Commercial Board of Realtors.
Snypp spent more than two decades in the office- furniture business before becoming a business broker and has been with Preferred Business Brokers, Inc. for nine years. He has found success selling businesses in a variety of industries, most recently selling day-care centers, a travel agency, and a cooking school. He has 25 years of sales, sales management, and marketing experience. He often works with buyers to represent them and find them deals. He has been in the GABB’s Multi-Million Dollar Club twice, and the Million Dollar Club twice. He helps business owners with their exit plans by finding qualified buyers for their businesses while maximizing their proceeds.
Kathryne Pusch, President of ConsultKAP, is a seasoned professional consultant and broker who began her career consulting for a large international consulting firm in 1979. Since then, she has worked successfully within the framework of large corporations, and small enterprise, across a broad range of industries, private and public sector. For nearly 25 years, her firm has focused primarily on preparing businesses for a successful sale, exit and transition planning for owners, and assisting disputing partners or shareholders in reaching their differing transition goals.
For more information about the GABB, contact GABB President Greg DeFoor at 678-644-983 or gdefoor@defoorservices.com.
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Eleven Ga. Business Brokers Sell $58 Million Plus of Businesses
Eleven members of the Georgia Association of Business Brokers (GABB) helped business owners and entrepreneurs sell and buy more than $58 million worth of small- and medium-sized businesses in 2014.
GABB members represent owners of Georgia businesses in extremely important transactions: the sales of their businesses. GABB members help owners determine the asking prices of their businesses, create marketing plans and strategies for selling their businesses, and identify and qualify buyers while keeping the sale confidential from employees and customers.
“In 2014, not only did the economy continue to strengthen, but business owners became more confident in their optimism about the economy,” said GABB’s 2014 President C. David Chambless. “With that increasing optimism, we believe that 2015 will be a banner year in the sale of businesses. Members of the GABB are uniquely positioned to provide professional guidance to business owners and business buyers in successfully transacting the sales of businesses.”
Topping the GABB’s 2014 Million Dollar Club is Matt Slappey, owner of the Decatur branch of Murphy Business & Financial Corporation and past president of the GABB.
Rounding out the top-five producers are Jeff Merry, owner and founder of the BUSINESS HOUSE, inc. of Gainesville; GABB Treasurer Jon Merry, an associate of the BUSINESS HOUSE, inc. of Gainesville; GABB President C. David Chambless, president of Abraxas Business Services, Inc.; and Matt Wochele, president of Preferred Business Brokers, Inc.
Multi-Million Dollar Club business brokers include Eric Gagnon, founder of We Sell Restaurants, Inc; David Still of Capital Endeavors, Inc.; J. Snypp of Preferred Business Brokers, Inc.; Steven Josovitz, vice president of The Shumacher Group; GABB Secretary Kent Reed of Murphy Business & Financial Corporation; and Art Lennig, regional director of Murphy Business & Financial Corporation of Georgia.
Mr. Wochele was honored with the GABB’s Phoenix Award, signifying that he has been a Million Dollar Club member ten times.
The Georgia Association of Business Brokers (GABB) is the state’s only professional organization dedicated to buying and selling businesses and franchises. The GABB maintains a web site that lists hundreds of businesses and franchises for sale throughout Georgia in a variety of fields, including automotive, business services, child care, cleaning, construction, electronics equipment, fitness, flooring, floral, food, gas stations, landscaping, manufacturing, medical, shipping, restaurants, retail, security, signs, and businesses related to the internet.
The Awardees
GABB Lifetime Multi-Million Dollar Club Member and 2013 GABB President MATT SLAPPEY is the owner of the Decatur branch of Murphy Business & Financial Corporation. Mr. Slappey has been the top broker in Murphy Business & Financial Corporation of Georgia from 2008-2013. Matt has a wide array of experience on transactions typically in the $1 million-$50 million range. Mr. Slappey, a native of Decatur/DeKalb County has a Certified Business Intermediary (CBI) designation from the International Business Broker Association (IBBA); degrees in accounting, economics, and business from Presbyterian College; and twelve years of experience in management for a Fortune-100 healthcare company. A 7-year active duty veteran, Mr. Slappey was a pilot and military intelligence officer in the U.S. Army. He is an active member of Oak Grove United Methodist Church, the IBBA and M&A Source, and the Hall County Chamber of Commerce and enjoys spending time with his wife and three daughters, playing music, and enjoying the great outdoors
JEFFERY E. MERRY, SR., past president of the GABB, has been the GABB’s top producer numerous times, and has been a part of the Million Dollar Club since its inception in 1999. Mr. Merry, owner and founder of the BUSINESS HOUSE, inc. of Gainesville, is a member of the International Association of Business Brokers. For more than two decades, his firm has specialized in serving the manufacturing, distribution, veterinary and medical industries. As a business intermediary, Certified Exit Planner, and consultant, Mr. Merry has been involved in mergers and acquisitions that have ranged in acquisition price from $60,000 to more than $15 million. He has been an adjunct instructor for the MBA program at North Georgia College. Mr. Merry holds a bachelor’s degree from Mercer University, a Master of Business Administration from the University of Illinois Edwardsville, and a Juris Doctorate from Atlanta Law School. Mr. Merry, a resident of Dahlonega, is a licensed real estate agent in Georgia and Florida, a senior business analyst, and a member of the Exit Planning Institute. He has three children and five grandchildren, and enjoys travelling, reading and riding his motorcycle.
GABB Treasurer JON MERRY is a senior business broker with the BUSINESS HOUSE, inc. of Gainesville. Mr. Merry has a keen understanding for the buying and selling process, and is well versed in the industry handling a wide range of deal making activities for the firm and has assisted with numerous M&A transactions. In 2012 and 2013, Mr. Merry received recognition as one of five brokers to join the Multi-Million Dollar Club for closed M&A transactions. In addition, Mr. Merry has been a Certified Machinery/Equipment Appraiser (CMEA) with the National Equipment Business Builders Institute (NEBB Institute) for more than 10 years. A CMEA is intensively trained in the legal requirements involving the USPAP standards, as well as the methodological approach employed in establishing fair market value, orderly liquation value, and force liquation value in any market condition. Mr. Merry is owner of M&E Appraisals, Inc. of Dawsonville, Ga., and is a member of the International Business Broker Association (IBBA), the International Society of Business Analysts (ISBA), and the Georgia Lenders Quality Circle (GLQC). A native of Georgia, Mr. Merry was a professional umpire for Minor League Baseball for 11 years. He and his wife, RaeLynda and their two sons, Jacob and Joseph, live in historic Dahlonega.
A lifetime member of the GABB Multi-Million Dollar Club and 2014 GABB President, C. DAVID CHAMBLESS is the president of Abraxas Business Services, Inc. Prior to Abraxas, he held various positions in sales, marketing, and executive roles in technology firms; as CFO for Aaron Rents as well as for private companies; and as a management consultant. A member of the International Business Brokers Association (IBBA), Mr. Chambless has a Master of Business Administration in Finance from the Wharton School of the University of Pennsylvania and a Bachelor of Industrial and Systems Engineering from Georgia Tech. He is a certified public accountant (inactive). Active in community work, he has served as a board member of the Technology Association of Georgia, on the membership committee for the Atlanta chapter of Business Executives for National Security, and the Sporting Clays Tournament committee for the Atlanta Area Council of the Boy Scouts of America. Mr. Chambless is very involved in the All Saints’ Episcopal Church community. He was a fifteen-year board member of The Samaritan House of Atlanta and is on the Advisory Council of 24/7 Gateway, a homeless-services center under the auspices of the United Way of Atlanta. Mr. Chambless and his family live in historic Grant Park.
Matt Wochele CBI (Certified Business Intermediary) founded Preferred Business Brokers, Inc., in 1996 after a successful multi-year career as an investment banker. He is a life member of the Georgia Association of Business Brokers Million Dollar Club, a Phoenix Award recipient and a member of the International Business Brokers Association. Under Mr. Wochele’s leadership, Preferred has represented numerous private business owners in the sale of their businesses. As the managing broker, he has had the opportunity to guide and train a number of successful agents in the brokerage field. Having the experience in both public business sales and the private sector has been rewarding for his firm and their clients. This dual experience has positioned Preferred to handle both the smaller main street business purchases as well as middle market acquisitions. Preferred’s geographical scope stretches to many states. Recent transactions for Georgia listings have included buyers from Illinois and Iowa. Mr. Wochele resides in Sandy Springs with his wife, Kathy, a professional artist. Kathy and Matt have five daughters and two sons-in-law.
A GABB Million Dollar Club Member for the seventh consecutive year and a former GABB President, ERIC GAGNON is the president of We Sell Restaurants and wesellrestaurants.com. He has been designated an industry expert by Business Brokerage Press. A radio personality, frequent speaker and writer, Eric co-hosts a radio show dedicated to the restaurant industry that is broadcast from the nation’s 7th largest media market. Mr. Gagnon expanded the We Sell Restaurants brand into a franchise in 2012 that is growing with offices across the country. Mr. Gagnon is the co-author of Appetite for Acquisition, an award-winning book on restaurant brokerage that was named “Best of 2012” by Small Business Book Awards. In addition to GABB, Eric is a member of the International Business Brokers Association (IBBA) and has served as a speaker at its national meeting. He is also a member of the Business Brokers of Florida (BBF), the Southeast Franchise Forum (SEFF) and the International Franchise Association (IFA). Eric is licensed as a broker in Georgia, South Carolina and Florida. He holds degrees from major universities in the United States and Canada.
GABB Lifetime Multi-Million Dollar Club Member and former GABB President DAVID R. STILL is the founder, designated business broker, and lead business appraiser of Capital Endeavors, Inc., established in 1995 and located in Lawrenceville, Ga. He earned a Bachelor of Business Administration from the University of Georgia. As a Certified Business Intermediary, he specializes in the mergers and acquisitions of privately held companies with gross sales between $1 million and $50 million. Mr. Still was a co-owner and publisher of the Gwinnett Post-Tribune newspaper. Mr. Still received the GABB Lifetime Achievement Award in 2002. Mr. Still is the Chairman of the Downtown Development Authority of the City of Lawrenceville and active in multiple non-profit organizations. He is married and has two grown children, one daughter-in-law and two grandchildren.
J. SNYPP lives in Dunwoody, grew up in Atlanta, and graduated from Georgia Southern University with a degree in marketing. Mr. Snypp spent more than two decades in the office- furniture business before becoming a business broker and has been with Preferred Business Brokers, Inc. for eight years. He has found success selling businesses in a variety of industries, most recently selling day-care centers, a travel agency, and a cooking school. Mr. Snypp is married and has two sons. When he is not selling businesses, he is usually coaching a football or baseball team, camping, canoeing, water skiing, scuba diving, or involved in some other family activity.
STEVEN JOSOVITZ is vice president of The Shumacher Group, where he heads the restaurant business brokerage division and provides commercial retail and restaurant real estate site selection, sales and lease negotiation expertise. A former restaurant owner and trained professional chef, Steven has an extensive background in restaurant and hotel management. He also offers consulting and appraisal services. He has been retained by law firms for his expert opinion to help settle disputes. Mr. Josovitz, a resident of Norcross, earned a Bachelor of Science in Hotel/Restaurant Management from Florida International University in 1981. Mr. Josovitz is a member of the Georgia Restaurant Association, International Council of Shopping Centers, and the Retail Brokers Network.
KENT REED of Murphy Business & Financial Corporation has earned both of the prestigious designations of BCI (Board Certified Intermediary) and ABI (Accredited Business Intermediary). Mr. Reed is skilled in negotiations and an experienced advisor on management and financial issues. Mr. Reed holds a Bachelor of Science in Business Administration in Management and Marketing from Western Carolina University. His previous professional career included positions in Fortune-100 and smaller companies. His experiences as a business-development executive and retail-marketing specialist have given him the necessary skills to help maximize the efforts of motivated buyers and sellers. He enjoys spending time with his wife, Tracey, and their 10-year-old twin boys as well as traveling, fishing, music, and the North Georgia mountains. He is a member of Rotary International-East Cobb (currently president-elect), the Georgia Association of Business Brokers (2014 treasurer), and the International Business Brokers Association (IBBA). With thousands of businesses in Atlanta, Mr. Reed has access to a broad spectrum of business types and sizes and works closely with many of Atlanta’s top business leaders.
ART LENNIG is regional director for Murphy Business & Financial Corporation – Georgia, Inc. Mr. Lennig has served GABB as secretary, treasurer, vice president, and president. He earned a marketing degree from the University of Evansville. Art owned his own business for 20 years prior to becoming a business intermediary. He believes that his prior business experience has been very beneficial when representing business owners. His membership in the GABB has helped himself and also enabled him to assist other brokers as they start their careers. Mr. Lennig is a member of International Business Brokers Association (IBBA). Mr. Lennig has earned the prestigious Certified Business Intermediary (CBI®) designation. In 2003, he received the Senior Business Analyst (SBA) Award from the Society of Business Analysts. He is also a member of Institute of Certified Business Counselors (I-CBC). He is also a Life Member of the GABB Million Dollar Club. He resides in Acworth with his wife Pam, and they have two sons and five grandchildren.
Read MoreGREC increases continuing education requirements
Georgia Real Estate Commission increases continuing education requirements
Today’s update comes from former GABB president Kathryne Pusch, who is also a member of the Georgia Real Estate Commission’s Education Advisory Committee, a licensed Georgia real estate instructor, and the author of The Complete Preparation Guide to the Georgia Real Estate Sales Exam.
The Georgia Real Estate Commission passed changes to two of its Rules at its April 2, 2014 meeting.
Key Points
• Beginning July 1, 2015 each licensee must have completed 36 hours of Continuing Education to renew a license.
• Beginning July 1, 2016, each licensee must have completed 3 hours on the topic of license law as part of the 36 hours of CE.
One of the many benefits of the GABB is discounts on quality professional training aimed at the needs of professionals engaged in buying and selling businesses and franchises.
Rule 520-1.05 Maintaining a License
Increase in Required Continuing Education Hours
Since continuing education (CE) was first required of non-grandfathered real estate licensees in 1980, the Georgia Real Estate Commission (GREC) has not increased the CE hours. Based on the number of repeated types of violations, surveys of licensees, input from industry professionals, and the ever-changing industry, the Georgia Real Estate Commission determined that an increase from 24 to 36 hours of CE per renewal period would further “protect the public” which is the function of the GREC. The Commission cites the following reasons for the increase:
1. The national average of CE hours is 9.3 hours per year. All surrounding states except for South Carolina have more CE hours per year than Georgia. This increase would put Georgia nearer the national average and above all surrounding states.
2 . The purpose of the GREC is to “protect the public” from misconduct and violations by real estate licensees of real estate law and rules. The GREC firmly believes that an increase in CE taken by real estate licensees will help diminish the number of violations by licensees of the license law.
3. The GREC considers real estate licensees as professionals. As professionals, real estate licensees should take CE hours commensurate with other professions. For example, attorneys are required to take 12 hours of CE each year, insurance agents 15 hours of CE each year and appraisers 14 hours of CE each year. The GREC wants to insure the integrity and “raise the bar” for licensee professionalism.
The section of the rule that changed is stated below, and you can go to the GREC website and read the Rule.
(1) Required Education.
(d) In order to renew an active license, a licensee shall furnish to the Commission evidence of satisfactorily completing thirty-six (36) instructional hours of continuing education courses during the renewal period. The effective date of this requirement shall be July 1, 2015. Any licensee who renews an active license on or after this date must have completed thirty-six (36) hours of continuing education courses in order to renew.
(e) A licensee shall satisfactorily complete at least three (3) hours of continuing education on the topic of license law during each license renewal period. The effective date of this requirement shall be July 1, 2016. Any licensee who renews an active license on or after this date must have completed at least three (3) hours of continuing education on the topic of license law in order to renew.
Note that the new Rule has 2 parts, 1) number of hours and 2) the requirement of a license law course, and they are staggered in the years they become effective. If a licensee renews between July 1, 2015 and June 30, 2016, he/she must take 36 hours of CE to renew. If a licensee renews on or after July 1, 2016 , the 36 hours must include a course that includes 3-hours on the topic of license law.
Any course developed to qualify as a continuing education course on the topic of license law will contain material that covers such topics as trust account requirements, brokerage relationships, unfair trade practices, advertising, licensees acting as principals, and other topics as deemed appropriate by the Georgia Real Estate Commission. Course providers will be required to identify the course as meeting the requirements for the 3-hour mandatory license law course approval.
Note Regarding Grandfathered Licensees: Because it takes a statutory change by the Georgia General Assembly to require continuing education for “Grandfathered Licensees” (those licensed prior to 1980), these “Grandfathered Licensees” will continue to be exempt from all continuing education requirements. However, Grandfathered licensees are encouraged to attend CE courses and in particular the courses that cover updates and a review of License Laws, Rules, and Regulations. Every licensee is responsible for being knowledgeable regarding the License Laws, Rules, and Regulations and being uninformed is not a defense for a violation of the License Laws, Rules, and Regulations.
GABB Today April 2014 upcoming events
GABB Today UPCOMING EVENTS:
Get out your calendar because the GABB has an impressive lineup of speakers and events in the coming months
Buckhead Coalition Founder Sam Massell to speak to GABB on April 29
:Sam Massell, the founder of the Buckhead Coalition and former mayor of Atlanta, will speak to the Georgia Association of Business Brokers on Tuesday, April 29. GABB Affiliate Susan Kite, SBA Business Development Officer and Vice President of Signature Bank of Georgia, is sponsoring the meeting.
Massell, a life-long resident of Atlanta, has had successful careers in real estate brokerage, elected office, the field of tourism, and association management. He spent 20 years as a Realtor, 22 years in elected offices, including eight as President of Atlanta’s Board of Aldermen (now known as the City Council) and four as Atlanta’s mayor. In addition, he has served a four-year term on the Board of the Metropolitan Atlanta Rapid Transit Authority, and was a Board Member of the Atlanta Committee for the Olympic Games.
The GABB’s monthly meeting at 10:30 a.m. at the South Terraces Conference Center is preceded at 9:45 a.m. by a free light breakfast and networking session. The GABB is the state’s largest professional organization dedicated to buying and selling businesses and franchises. The South Terraces Conference Center is at 115 Perimeter Center Place, Atlanta. For more information about the GABB, contact GABB President C. David Chambless at dchambless@abraxas.biz or 404-627-4454.
Broadcaster Bill Crane to Speak on May 27
Crane to speak May 27 : Save May 27 to hear broadcaster and PR specialist Bill Crane. That’s the day after Memorial Day, but you will want to hear what Crane has to say about the 2014 election cycle, including the May 20 results from races for Congress, Senate and governer, as well as the July 22 run-off. Crane has nearly 25 years as a senior communications strategist. He began his career in broadcasting, and later served in senior communications staff positions under Georgia’s Gold Dome as well as on Capitol Hill, working for two U.S. Senators and one Governor, in both major political parties. Crane also has significant economic development experience, serving as Vice-President of Marketing and Communications for the Metro Atlanta Chamber of Commerce during Atlanta’s Olympic years.
Brian Harper Senior Vice President of SBA Lending with Atlantic Capital Bank will sponsor the May 27 meeting. For information about sponsoring future GABB meetings, contact GABB Board Member Mike Kelly.
IBBA Courses for GABB Fall Conference on Sept. 30
The GABB Fall Conference will be held on Sept. 30 with two popular speakers and IBBA credit. Course #117 – Understanding Tax Returns (4 credit hours) Course #424 – Pro Forma and Cash Flow Statement: Tool For Closing More Deals (4 credit hours) Both courses have been approved for IBBA credit for the CBI and will be eligible for Real Estate Continuing Education Credit. We will notify all GABB members when registration information has been finalized.
Understanding Tax Returns: Do you often get frustrated when reviewing a tax return because you just do not know where to find the information you need? Understanding how information is transferred from financial statements and presented in tax returns is critical to effectively achieving an accurate recast. This new IBBA Boot Camp Series Course will assist participants in understanding how to decipher and properly locate information in tax returns that is needed for recasting. Learn how to identify the tax returns for the four entities commonly encountered by an intermediary, identify the primary schedules in tax returns, explain where to begin recasting using a tax return, locate key recast items within tax returns and compare the reporting differences of financial statements and tax returns.
Pro Forma and Cash Flow Statement: Tool For Closing More Deals: EBITDA has often been used as a proxy for cash flow, but in today’s challenging business climate buyers no longer put much faith in “proxies” or approximations of earnings. Due diligence is much more rigorous and terms are much more open to creative negotiations. Having a well thought out economic vision for the business, i.e. Pro Forma, along with a clear understanding of believable future cash flows, is critical in attracting and negotiating good offers for your client. This course will make use case studies to provide insights and examples in working with your clients to create solid pro formas and cash flow statements, and how to use this valuable information to better market and negotiate your deal.
Check your GABB profile:
GABB members, both affiliates and brokers, please go online and review your GABB profile. If your profile does not have your photo, and you’d like to have that posted, please send a color jpg head shot to Diane. If your profile does not appear in the GABB directory, it could mean that you have not renewed your membership for 2014. If there is something missing or inaccurate, please contact Diane to update your information.
GABB members represent owners of Georgia businesses and help them estimate the value of their businesses, create marketing plans and strategies for the sale of their businesses, and identify and qualify potential business buyers while keeping the sale confidential from employees and customers. Many of today’s business buyers are individuals who have decided not to re-enter corporate America , but are ready to control their own destiny by purchasing and operating a Georgia business. Many business buyers are also current business owners who saw 2013 as an opportunity to grow their revenues through purchases of competitors or strategic partners.
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