Contributor: Peter Siegel, MBA | August 25, 2010
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| Most potential business buyers don't realize that 80% of business buyers, not utilizing the BizBen Network, are unsuccessful in buying a small California business. Here are ten buying strategies for buyers to help create a profitable small business sale. |
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Contributor: Chuck Post | August 17, 2010
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| What is the extent of the Buyers obligation to investigate a business before purchasing it? To what extent should a Buyer rely on the Selling Broker for “decision making” information? A “Common Sense “ approach to buying a business should tell you that certain areas need to be investigated before completing any business acquisition. So why is it that so many people find out so much about the business they purchased after the closing of the escrow? Chuck Post a specialist in assisting buyers and sellers with coin laundries explores this topic with BizBen blog readers. |
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Contributor: Peter Siegel, MBA | August 16, 2010
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| Business buyers tend to make mistakes along the road to buying a small business our "Answers To Viewers Questions" section of the BizBen Blog we explore answers to the question, "What Are The Biggest Mistakes Business Buyers Make In The Process Of Buying A Business?" See what a selection of members of the BizBen Network and viewer comments have said to answer this question about some mistakes buyers of small businesses make. |
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Contributor: Willard Michlin, CPA | August 16, 2010
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| Willard Michlin, a due diligence consultant discusses finding that passion about your work when buying a small business. In this article he explores how to tap into that passion when searching for and buying your special small business. |
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Contributor: Chuck Post | August 1, 2010
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| Chuck Post - coin laundry consultant, and laundry broker looks to the future of the laundry industry and he explores what types of new equipment is available today for buyers of California coin laundries. |
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Contributor: Peter Siegel, MBA | July 30, 2010
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| The entrepreneur interested in buying a janitorial cleaning business will find companies in this industry for sale that are quite profitable. Careful due diligence, including the six factors covered here, is advised before completing a deal for this kind of business purchase. |
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Contributor: Jeff Back | July 30, 2010
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| People who know me know my opinion about what it takes to be successful in the restaurant business - and it's not just a good location. What makes a difference time and time again is the difference in management. Good management is the key to success. Every time you hear its Location Location Location, I say it's Execution Execution Execution! This blog post/article was written by Jeff Back, restaurant sales specialist in the San Francisco Bay Area. |
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Contributor: Peter Siegel, MBA | July 30, 2010
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| One of the most difficult challenges when purchasing a small business is expressed by this prospective buyer of a liquor store who is told by the seller that there is more money being made than shows up on the books. Should the buyer accept that statement and go ahead with the purchase so he doesn't miss out on a good opportunity? Or would he be smart to consider the seller untrustworthy and pursue other opportunities instead? BizBen asked several business brokers throughout California for their advice. |
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Contributor: Peter Siegel, MBA | July 22, 2010
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| Gas station for sale in California news: If you've ever conducted even a single search on BizBen, you see virtually every kind of business for sale by category every day. But very few of them actually provide opportunities for the savvy buyer to have another company help them enhance the property once the sale goes through. With the WRAP program, buyers of gas stations now have incentives to purchase a California gas station. |
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Contributor: Jane Navas | July 21, 2010
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| Selling a preschool - much like your purchase of or starting the business - is an undertaking that requires substantial preparation. The planning of the sale of your business is equally as important as starting and growing your business. Jane Navas and Beverly Murdoch with PreSchool Sales explain how to sell a preschool. Jane can be reached at 760-598-9401, 760-622-5902 and Beverly can be reached at 760-529-3997. |
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Contributor: Tawnya Gilreath, CBB | June 23, 2010
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| Tawnya Gilreath a Los Angeles area business broker explains why earnest money deposits serve two purposes. First, they show the Seller that you are serious about buying the business. Secondly, in the event that you as the Buyer default on the purchase agreement after due diligence and other contingencies have been removed, the earnest money deposit typically serves as liquidated damages to the seller. |
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Contributor: Peter Siegel, MBA | June 23, 2010
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| Think selling a small business today is like it was, say, 20 months ago? Much has changed in the economy and in the small business marketplace. And a seller should follow these six principles to achieve success when selling a small business. |
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Contributor: Cyrus Safavian | June 22, 2010
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| If you have been considering starting a new business, or purchasing an existing business, you have probably been considering first how to capitalize your investment. Did you know you could use your retirement funds to finance a business without having to pay taxes and penalties? Enter a new form of business financing that relatively few are familiar with today- 401(k)s, IRAs and other tax deferred retirement plans. Cyrus Safavian walks you through the process of financing utilizing your retirement funds. |
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Contributor: Steve Fitzgerald | June 22, 2010
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| Most owners of privately owned businesses realize that the value of their business is strongly influenced by the earning power (profitability) of the business. With the economic conditions that have prevailed for the last many months, the market value of most privately-owned businesses are lower today than perhaps they were a year and a half to two years ago. San Diego Area based business intermediary Steve Fitzgerald with Acquisition Services Group discusses his thoughts on the this subject. |
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Contributor: Christina Lazuric | June 21, 2010
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| When you first start out in business brokering, you’re aware of the statistics of failure. 90% failure rate is intimidating so one can assume that for someone to even attempt to get into the business they have to be aggressive, confident and determined. In the beginning you’ll take almost any kind of listing to get your business moving but over time you realize the sense in being a little more discriminating. Christina Lazuric, an Orange County business broker warns about listening to your gut before taking on a new listing. |
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Contributor: Peter Siegel, MBA | June 21, 2010
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| The new decade brings a new set of realities for entrepreneurs who want to know how to buy a business. Successful buyers will be those who understand and adapt to these realities. |
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Contributor: Peter Siegel, MBA | June 15, 2010
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| Should business opportunity offering include the real estate? There are no right or wrong answers to the question about whether the seller of a business should include the real property, or sell the company only and continue on as the landlord/lady. This question was posed to our panel of experts and we got a diverse range of suggestions and ideas, demonstrating that the solution to this puzzle depends on circumstances and requirements of the parties. |
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Contributor: Chuck Post | June 15, 2010
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| Buying a coin laundry like other types of small business purchases has its nuances. Chuck Post a business broker specializing in assisting those selling and buying coin laundries shares his knowledge with coin laundry buyers. |
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Contributor: D. Joe Atchison, CBI | June 10, 2010
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| This list of 21 factors determines the salability and value of a business being sold. This article by D. Joe Atchison, CBI, CBB, CPA, MBA examines many crucial points in determining what your business may sell for and its valuation amount in the current marketplace depending on 21 key factors! |
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Contributor: Peter Siegel, MBA | June 7, 2010
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| Recognizing that 70% of the small and mid-market-sized businesses offered to buyers are never sold, and that some of the obvious reasons - over-pricing, inadequate records, insufficient lease - have been discussed in detail, it might be useful to point out lesser- known problems, often resulting from errors made unknowingly when attempting to sell a business. |
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Contributor: Christina Lazuric | June 7, 2010
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| Christina Lazuric, Business Broker and Principal with California Business Brokers explores why owners of small businesses throughout California elect to sell their business. Reasons vary but Christina does a nice job of outlining the main causes for an owner to put their business on the market. |
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Contributor: Peter Siegel, MBA | June 7, 2010
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| If you have that American dream about being self employed, perhaps by buying a small business for sale, you should know that not everyone is suited for a career as an entrepreneur. Before taking the steps toward business ownership, you can ask yourself three questions designed to help reveal whether you have the characteristics needed to be successful as your own boss. |
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Contributor: Peter Siegel, MBA | June 7, 2010
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| The current economy may be tough for many individuals who are looking, without much luck, for work that will get some money coming in again. But for franchisors who offer an alternative to the headaches and insecurities of corporate employment, business is on the rise. |
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Contributor: Peter Siegel, MBA | June 5, 2010
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| In the controversy over how best to get into business ownership - buy an existing enterprise or start from scratch - the most important and most overlooked aspect is whether you can "take it to the bank." |
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Contributor: Peter Siegel, MBA | June 5, 2010
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| A BizBen blog reader emailed me this question a few days ago: "I am starting due diligence this week on buying a cocktail bar With a 48 license what should I be asking for, thinking about, watching out for? Is there a list of items I should ask for?" I posed this question to several qualified business brokers, agents, and advisors and they offered several great suggestions and ideas for this buyer to consider. |
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Contributor: Ron Hottes | June 5, 2010
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| Many times when buying a business there are reasons why buying stock or buying assets is the better business decision. Ron Hottes explores the advantages and disadvantages from a business buyer's perspective. |
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Contributor: Peter Siegel, MBA | June 4, 2010
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| Our BizBen Panel of Experts was consulted on a problem posed by a visitor to our site, who asked what to do about selling her flower shop, considering that she has a manager who is interested in buying it and would be good at running it, but lacks the funds to make that happen. |
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Contributor: Peter Siegel, MBA | June 4, 2010
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| What the seller of an interesting business will accept, what his "hot buttons" are, what they are willing to negotiate about; these are all facts that come to light when an offer is made. The way to find out what it takes to buy a business and to be taken seriously by the selling and brokerage community is to make an offer. |
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Contributor: Tawnya Gilreath, CBB | June 3, 2010
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| There is no "one size fits all' answer or solution in business transactions. That is part of the challenge. Every business is unique as is every Buyer and every Seller. Tawnya Gilreath explores the issue of month to month leases in this blog/article. |
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Contributor: Peter Siegel, MBA | June 3, 2010
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| Over the last ten years or so, the number of pet related "box-store" retail and franchise businesses has exploded. Not only have industry earnings estimates improved every year for the last decade in the pet related industry, but new pet related businesses and concepts continue to turn up everyday. Peter Siegel discusses the different areas of pet franchises business buyers may be interested in. |
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How To Find And Buy A California Small Business
