GABB Class April 26: Pricing a Business
Erin Crawford, MBA, CBA
Learn the basics of pricing a business from an industry expert and earn credits towards a Georgia Real Estate license at the April 26 class offered by the GABB.
The Pricing a Business class will be offered online only via Zoom on Tuesday, April 26, from 1-4 p.m.
This class is designed to help someone who is new to the profession of buying and selling businesses with how to identify key components of setting an asking price for a business for sale, how to conduct industry research, where to find and how to use comps, and exploring two approaches to pricing a business, one based on income, and another based on assets.
The class will be taught by Erin Crawford, MBA, CBA, a Business Broker & Certified Business Intermediary with Transworld Business Advisors. Ms. Crawford has helped more than 300 entrepreneurs with achieving their dreams of business ownership. She excels in marketing and business development. She currently helps business owners in Florida’s Palm Beach and Broward counties to locate buyers, both local and international. Further, she consults with buyers to find the right opportunity, whether an existing business or franchise opportunity. As a Certified Business Intermediary, she is a professional in her domain. Ms. Crawford earned her bachelor’s degree in marketing and management from Florida Atlantic University, then earned her MBA from the University of Florida in 2009. A Florida native, she enjoys spending time with her family and serving the community in various philanthropic activities.
Ms. Crawford will join the class virtually via Zoom, and therefore the class will be offered online only.
Students who attend the entire class on April 26 and who successfully complete the online portion of the class will be eligible for continuing education credit from the Georgia Real Estate Commission through the GABB Real Estate School, GREC #8074, Course #74113. All students who complete the entire class online will be eligible for credit toward the Board-Certified Broker designation to be awarded by the Georgia Association of Business Brokers.
The class costs $49 for current GABB members and $75 for non-members. Anyone who wishes to earn the BCB designation, a special Georgia certification for business brokers, must be a GABB member and register for $225 which includes registration and one class.
If you have additional questions about the class, the GABB Real Estate School, or anything else related to GABB classes, please contact Diane Loupe at diane.loupe@gabb.org or 404-374-3990. All general questions about the GABB or membership in the GABB should be directed to Courtney Foley at courtney.foley@gabb.org or 770-744-3639.
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How to Circumvent Three Legal Mistakes Sellers Make
After decades of hard work, selling your business can be an exciting and rewarding time. Yet, many business owners overlook some important legal matters associated with sales. In this article, we’ll explore three of the most significant legal mistakes sellers make when selling a business.
1. Use an NDA
The first critical mistake that business owners make is skipping a non-disclosure agreement. Before disclosing to any buyers that a business is on the market, a business owner should always make sure that a non-disclosure agreement is in place.
NDAs restrict who does and does not know your business is for sale. If competitors or employees learn confidential information about the business for sale, it could hurt the sale and possibly lower the selling price of the business.
2. Hire an Attorney
It may be tempting to skip working with an attorney, but you shouldn’t. If you are selling a business or anything of significant value, you need to work with a lawyer experienced in the area of sales.
Business owners become accustomed to doing a great many things themselves and learning on the job, a personality trait that has served them well over the years. When selling your business, however, there is zero room for “on the job training” or relying on your own instincts. One of the best ways that you as a business owner can protect your future is to work with a lawyer when selling your business. In fact, a Business Broker or M&A Advisor can be a vital resource for helping you to find a proven lawyer with a background in the buying and selling of businesses.
3. Get a Letter of Intent
A third significant mistake that business owners frequently make when selling their business is that they fail to get a letter of intent. Much like an NDA, a letter of intent is a key legal document in the process of selling a business. All too often business owners will skip requesting a letter of intent out of fear of slowing down the process and potentially disrupting a deal.
The letter of intent is designed to clearly spell out expectations while simultaneously protecting your interests as a business owner. When buyers sign a letter of intent, it indicates that they are taking the process seriously. This will protect you from wasting your time.
Selling a business is a process with its own unique challenges. Whether dealing with human psychology, organizing your books, thinking about what information prospective buyers are likely to want to see, or addressing a wide array of legal issues, selling a business is a complex and time-consuming process. Working closely with a Business Broker or M&A Advisor is one of the fastest ways that you can increase your chances of a successful sale.
Copyright: Business Brokerage Press, Inc.
The post How to Circumvent Three Legal Mistakes Sellers Make appeared first on Deal Studio – Automate, accelerate and elevate your deal making.
GABB Class: Securing and Managing Listings, Aug. 17
Whether you’re new to the profession of buying and selling businesses, or have limited experience as a business broker, this Aug. 17 GABB class will teach you the best practices to secure and manage listings for businesses for sale.
Matt Wochele, CBI
Securing and Managing Business-for-Sale Listings (GREC#73352) will also help you when you’re selling someone else’s listing, review marketing strategies, cover ethical issues, help you analyze the financials of businesses for sale, and teach you how to guide a client through meetings with prospective buyers, negotiations, financing and closing. The class will be taught by GABB’s Vice President Matt Wochele, CBI, founder of Preferred Business Brokers, Inc. and a Life Member of the Georgia Association of Business Brokers’ Multi- Million Dollar Club.
This class is part of the GABB’s Board-Certified Broker credential program. Students who successfully attend all three hours of the class and pass the test will be eligible for credit through the Georgia Real Estate Commission. The class will be held both in person and online via Zoom, although the instructor is urging students to attend the class in person.
To encourage students to attend the class in person, the GABB will offer attendees several prizes including a one-year membership to the GABB and Starbucks giftcards. Only students who attend the class in person are eligible for these incentives.
The class (GREC #73352) will be held from 10:00 a.m. until 1 p.m. at the classroom of the Georgia Association of Realtors at 6065 Barfield Rd, Sandy Springs, GA 30328. Per GREC rules, students who arrive promptly and stay for the entire class are eligible to earn three hours of continuing education credit through the Georgia Real Estate Commission and the GABB’s Real Estate School, GREC #8074. Students who prefer to attend via Zoom must remain on camera; the link will be sent after you register.
The class fee is $49 for GABB members, $75 for non-members, and $225 to register for the BCB program and one class. Note that the BCB program is only open to GABB members. Contact GABB Executive Director Diane Loupe at diane.loupe@gabb.org or text her at 770-744-3639 for more information.
ABOUT THE INSTRUCTOR:
After attending Bucknell University and St Joe’s University Matt Wochele started his professional career as a stockbroker in NJ in 1978. In 1981 he was transferred to Atlanta to head up the firm’s investment banking business in their Atlanta, Jacksonville, and Houston offices. After 18 years working with public companies, Mr. Wochele started Preferred Business Brokers, Inc. in 1996. He has sold more than 300 main street and lower middle market businesses in the past 25 years. Mr. Wochele is a Certified Business Intermediary, a Life Member of the Georgia Association of Business Brokers’ Multi- Million Dollar Club, a GABB Phoenix Award recipient, a member of the International Business Brokers Association and is currently serving as Vice President of the Georgia Association of Business Brokers’ board.
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Non-Disclosure Agreements: GABB July 27
Stephen M. Levinson, Esq.
When buying a business, buyers usually must sign a non-disclosure agreement, or NDA, in order to review sensitive information about the business, including financial details, inventory, and legal matters. Legally,
Anyone who has not signed an NDA isn’t legally bound by it, attorney and GABB affiliate Stephen M. Levinson told the Georgia Association of Business Brokers on July 27.
To hear Steve’s presentation and the rest of the GABB meeting, click this link.
Here’s a PDF of Steve’s presentation: Levinson NDA presentation
Now in his 33rd year of consistent practice experience, Mr. Levinson handles matters in the areas of business law; business sales and acquisitions; business/contract disputes; construction disputes; and alternate dispute resolutions and has so-far closed approximately 1,500 business transactions. He has also previously lectured about business transactions before Georgia Agent/Broker Groups including lecturing before business brokers for state credit. Steve is also an experienced Mediator and Neutral since 2009 and the owner of Northside ADR.
Mr. Levinson received his B.S. in Political Science in 1983 from the University of Miami and SUNY Brockport and earned his law degree from Georgia State University in 1989. Steve was admitted to the Bar in February of 1989 and is admitted to practice in the U.S. Court of Appeals, Eleventh Circuit; the U.S. District Court, Northern District of Georgia; the Georgia Supreme Court; the Georgia Court of Appeals; and the State Courts throughout Georgia.
Beyond his law practice, Steve is the founder, and for many years, host of a weekly Nar-Anon family-peer support group serving those who deal with the addiction issues of loved ones and is also the co-founder and host of the Annual Deane W. Evans Memorial Golf Tournament, raising money to award merit based college scholarships to deserving high school students and doing other charitable work in memory of Deane Evans.
Steve and his wife Alison (high school sweethearts) are 34-plus year residents of Cherokee County and now live in Holly Springs. They are the proud parents of two adult sons, Alex and Aaron. They are active in many charitable endeavors and are longtime supporters and promoters of the Cherokee County Secret Santa Program, Atlanta Harm Reduction, Atlanta Community Food Bank, The Fulton County Canine Cellmates Program, Caring Hands Community (Kingston, NY), The Zaban Couples Shelter, Georgia Overdose Prevention, Friends of the Forlorn and other worthy causes.
The GABB is Georgia’s largest and most respected association of professionals who help people buy and sell businesses and franchises. Our association includes business brokers, lenders, appraisers, attorneys, business consultants and others who help business owners and entrepreneurs in many ways. Please review our directory if you are seeking a business broker or other professional.
For more information about the GABB, contact GABB President Judy Mims at 404-918-3666 or judy@childcare.properties, or GABB Executive Director Diane Loupe at diane.loupe@gabb.org or text her at 770-744-3639.
GABB Class: Business Broker Models, July 13
Business brokers will learn how to set up their practice, identify and define their market, identify clients, conduct feasibility studies; recruit, supervise and train staff, and the ethics of different broker models, in this July 13 class presented by the Georgia Association of Business Brokers.
Business Broker Models will be offered both in person and via Zoom on July 13, and is part of the GABB’s Board-Certified Broker credential program. Students who successfully attend all three hours of the class and pass the test will be eligible for credit through the Georgia Real Estate Commission.
The class will be taught by former GABB president Michael Ramatowski, CBI, chief executive of RamBizGroup Business Solutions, a specialty M&A business brokerage firm. Mr. Ramatowski’s business brokerage profession began in 1992.
Michael Ramatowski, CBI
Mr. Ramatoswki’s clients include general brokerage and candidates for merger by acquisition from manufacturing, distribution, and service businesses. A longtime member of the GABB, he has owned and managed businesses that included a real estate master franchise, a property management networking company, and a service business. As COO of a banking conglomerate, he managed brokerage operations, title companies, home and service warranty programs, and a relocation company. Mr. Ramatowski 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 served as an Electronic Specialist in the U.S. Navy Submarine Service. He attended Cleveland State University and Baldwin Wallace College. He has been awarded the Certified Business Intermediary professional designation by the International Business Brokers Association.
The class (GREC #73239) will be held from 9:30 a.m. until 12:30 p.m. at the classroom of the Georgia Association of Realtors at 6065 Barfield Rd, Sandy Springs, GA 30328. Per GREC rules, students who arrive promptly and stay for the entire class are eligible to earn three hours of continuing education credit through the Georgia Real Estate Commission and the GABB’s Real Estate School, GREC #8074. Students who prefer to attend via Zoom must remain on camera; the link will be sent after you register.
The class will cover the sole proprietorship and enterprise business models of business brokering; market analysis; defining business buyer and seller clients; defining business types; and defining the overall market. Students will learn how to conduct a feasibility students of the financial health of a prospective business to be sold, including examining the income statement, as well as identifying areas where the prospective business could build wealth. In the final hour of the class, Mr. Rawatoswki will teach students how to conduct a feasibility study of the financial health of a prospective business to be sold, including examining the income statement, as well as identifying areas where the prospective business could build wealth.
The class fee is $49 for GABB members, $75 for non-members, and $225 to register for the BCB program and one class. Note that the BCB program is only open to GABB members. Contact GABB Executive Director Diane Loupe at diane.loupe@gabb.org or text her at 770-744-3639 for more information.
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