About This Blog
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Peter Siegel, MBA is a nationally known consultant and author - with over 25 years experience on the topic of selling, buying, and niche financing (the purchase of), small to mid-sized businesses. His clients include: business buyers, business owners/sellers, small business advisors, and business brokers. |
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This Blog contains observations, tips, news, events, and case studies relating to selling or buying a small business. |
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This Blog is ideal for business buyers, business owners, advisors, business brokers & agents. |
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Opinions expressed on this site do not necessarily represent those of BizBen. |
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Opinions expressed here do not constitute legal advice. Those interested in specific guidance for legal matters should seek competent professional advice. |
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BizBen Blog Contributor
The following posts are in the bizben blog contributor category.
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Posted on November 10, 2009 Contributed by Neal Bauman
How To Find The Right Coin Laundry - A Buyers Guide
Neal Bauman with Golden State Laundry Systems discusses how to buy a California coin laundry. Topics include financing a coin laundry, what to look for, and what types of coin laundries are available. Neal also offers monthly seminars in Southern California on How To Buy A Coin Laundry.
Posted at 9:18am | 2 Comments
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Posted on November 4, 2009 Contributed by Peter Siegel
Buying A Franchise: Pros and Cons
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.
Posted at 7:34am | 4 Comments
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Posted on November 4, 2009 Contributed by Chuck Post
Coin Laundry Evaluation: How To Value Coin Laundries
The laundry business model and the full justification of value of the business are based on its anticipated longevity. A laundry is more comparable to a commercial property with a ground lease and other businesses with extensive improvements than like most other business types. In this blog/article industry specialist Chuck Post covers the topic of coin laundry valuations.
Posted at 6:18am | 4 Comments
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Posted on November 2, 2009 Contributed by Christina Lazuric
Selling Or Buying A Coffee Shop: Six Important Items
Christina Lazuric with California Business Brokers in Orange County chats about buying and selling coffee shops after her efforts of just selling one. She discusses rent, location considerations, & questions to ask yourself if you're thinking of buying a coffee shop.
Posted at 8:48am | 3 Comments
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Posted on November 2, 2009 Contributed by Chuck Post
Coin Laundry Buyers Workshop - Saturday 11/7 In San Diego
Chuck Post, a coin laundry consultant and specialty broker offers this live workshop to potential business buyers of coin laundries. In his workshop you will learn what to look for and also what to look out for when you are searching and buying a coin laundry.
Posted at 5:02am | 0 Comments
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Posted on October 28, 2009 Contributed by Peter Siegel
Buying A Carwash: Three Types To Consider
One of the most popular business offerings is the carwash. It’s considered easy to run, the number of cars on the road continues to increase, while it doesn’t seem that carwash installations are being added to keep pace. Peter Siegel with BizBen chats about buying a carwash.
Posted at 8:23am | 4 Comments
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Posted on October 28, 2009 Contributed by Lee Petsas
Deposits With Purchase Agreements: Rules And Guidelines
Lee Petsas, a Southern California business broker discusses purchase agreements when buying or selling a business in his new article on BizBen, "Rules And Guidelines About Deposits With Purchase Agreements". Lee discusses: How much consideration should I give as deposit? Are Deposits refundable and when? Cashing Deposits and Opening Escrow, Return of Deposit to Buyer, Why do we take a deposit from a buyer when preparing and executing a Purchase Agreement Contract?
Posted at 7:21am | 5 Comments
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Posted on October 27, 2009 Contributed by Peter Siegel
Should Real Estate Be Included In The Sale Of A Business?
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.
Posted at 8:10am | 3 Comments
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Posted on October 26, 2009 Contributed by Bob Klein
Valuing A Small Business: Searching for Market Value
There are a number of standard appraisal methods used to value a business that include, Asset approach, Income approach, Market approach (Comps), Capitalization of Earnings and Discounted Future Earnings. Each one of these methods individually does not always represent the true value of a business. In this article, Bob Klein, a Southern California business valuation professional shares his view on searching for market value.
Posted at 6:50am | 6 Comments
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Posted on October 21, 2009 Contributed by Peter Siegel
Six Seller Secrets - Avoid These Errors
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.
Posted at 6:09pm | 6 Comments
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Posted on October 20, 2009 Contributed by Chuck Post
Due Diligence: Buyers Role When Buying A Small Business
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.
Posted at 8:51am | 7 Comments
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Posted on October 19, 2009 Contributed by Lee Petsas
Qualifying Business Buyers: Lee Petsas Discusses Strategies
A small busines owner recently asked the question on the BizBen blog, "how do I qualify potential business buyers to see if they are truely interested in buying my business?" Lee Petsas, business broker addresses how he handles potential business buyers when they request information on a business for sale listing.
Posted at 8:02am | 5 Comments
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Posted on October 14, 2009 Contributed by Peter Siegel
Is Inventory Value Part Of, Or Added To The Price For A Retail Related Business?
Here’s a question posed to our panel of experts that brings up one of the more difficult issues that must be addressed when a retail store is being sold. "How do you handle the inventory amount in the valuation and price of a retail based small business? If the inventory value is high compared to the "value " of the business by itself: Do you add the inventory value to the business value? Should the owner be expected to take back a note for the value of the inventory? Our industry panel of experts respond with answers.
Posted at 7:03am | 6 Comments
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Posted on October 13, 2009 Contributed by Peter Siegel
Want To Be In Business For Yourself? Take This Test
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.
Posted at 8:16am | 5 Comments
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Posted on October 12, 2009 Contributed by Peter Siegel
Good Advice for Buyers -- Make an Offer
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.
Posted at 7:54am | 3 Comments
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Posted on October 8, 2009 Contributed by Bob Klein
Showing Your Business: Tips For Business Buyer Visits
Showing your business when selling is one of the most important steps in the sale process and how it is done will greatly effect the selling price. There are two areas to be concerned with, how the business looks and how you react to the prospective buyer. Bob Klein with Business Appraisals discusses this topic with BizBen readers.
Posted at 8:15am | 4 Comments
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Posted on October 8, 2009 Contributed by Van Merrill
Changes in the Self Service Laundry Business
This article is about how the coin and card laundry industry is changing and how we can cope and take advantage of those changes. Card Systems are the most revolutionary change in our business. They have been discussed at length in the past in just about every self service laundry magazine, editorial and convention to date. Van Merrill with Sparklean Laundry Systems Inc, discusses the card laundry industry.
Posted at 6:42am | 5 Comments
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Posted on October 7, 2009 Contributed by Peter Siegel
Unreported Income Claims: What Should A Buyer Do?
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? Our panel of experts answer the common and often asked question about unreported income claims.
Posted at 8:52am | 2 Comments
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Posted on October 7, 2009 Contributed by Joe Sandbank
Scam Alert: Warning to Corporations and LLCs
The California Corporations code requires corporations and limited liability companies file initial and annual Statements of Information identifying the organization's management (directors, officers, managing members, etc.) and agent for service of process. Scammers are taking advantage of this situation and misleading small business owners. Attorney Joe Sandbank discusses what you should watch out for with these solicitations.
Posted at 8:17am | 1 Comment
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Posted on September 29, 2009
How To Get Business Brokers To Return Your Call
Rodd Feingold writes a great article explaining one of the top reasons business buyers may not get a return phone call from business brokers and agents is because of their approach. Read more about what Rodd has to say about how to get business brokers to return your call!
Posted at 7:01am | 7 Comments
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Posted on September 23, 2009
The Fundamentals of Due Diligence: The Basics For Buyers
Many buyers find themselves fretful over add backs and owner benefits when it comes to due diligence; unfortunately, this concern often overshadows the fundamental objectives of due diligence. During due diligence the buyer’s main goal is verifying the business’ earnings and discovering whether or not the business will fulfill the buyer’s requirements. Rodd Feingold, CBB of Troop Business Services takes us through this topic.
Posted at 5:21am | 5 Comments
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Posted on September 22, 2009 Contributed by Willard Michlin
Audits, Business Analysis, Evaluations, & Profitability Analysis
Everyone knows that when you buy a business you need to have an audit of the books to see where the seller may be hiding some facts. What is less understood is that a business analysis is even more important and should be done before spending lots of money on an audit. Willard Michlin discusses these issues in this blog/article.
Posted at 9:06am | 2 Comments
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Posted on September 21, 2009 Contributed by Willard Michlin
Business Appraisers, CPA's, Due Diligence Experts
The buyer of a small California business needs three experts on his or her team when conducting due diligence. What are their functions and how do they carry out their work in the case where a seller's statements about the company's earnings cannot be proven? Here are some insights that will be useful for someone engaged in, or planning to conduct due diligence.
Posted at 6:05am | 5 Comments
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Posted on September 18, 2009 Contributed by Peter Siegel
Future Listing and Sales Activities: Predictions & Opinions From Industry Experts
Concluding one of the slowest summers in memory, in terms of the number of completed deals and new listing activity (total August 2009 sales of 997 businesses represented a 40% drop compared to the 1,722 deals concluded in August, 2008), we wondered if the fall will bring more activity to California’s market of small and mid-sized businesses for sale. So, we asked our Panel of Experts to give us their insight about what we can look forward to in the months ahead.
Posted at 8:04am | 3 Comments
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Posted on September 17, 2009 Contributed by Al Statz CBI, MBA
Size Matters In Valuing A Business
I hear lots of interesting observations and questions about the value of businesses. Recently a business owner said to me, “Peet’s Coffee, (Nasdaq: PEET) trades for 20 times earnings, so should I be able to sell my Mike’s Coffee Emporium for that?” It’s a great question. Besides brand recognition and the liquidity of public vs. private company shares, size is the obvious difference between Peet’s and Mike’s. So how much does the size of a company and its earnings affect valuation multiples? Quite a lot as it turns out. Al Statz, business broker in the North Bay covers this issue.
Posted at 8:03am | 3 Comments
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Posted on September 16, 2009 Contributed by Jeff Back
Good Management Beats A Good Location
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.
Posted at 7:42am | 6 Comments
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