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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Buying A Business
The following posts are in the buying a business category.
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Results 1 - 30 of 424 |
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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 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 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 19, 2009 Contributed by Peter Siegel
Free Online Webinar: How To Buy A Business - Wednesday February 3rd - 8-9PM
It is estimated that 80% of all individuals who set out to buy a California small to mid-sized business never do so. There are many reasons why potential business buyers never end up buying a business but this workshop explores what problems and difficulties business buyers usually encounter and how to successfully overcome them. This 1 hour free online webinar covers everything from the right ways to search for a business to negotiating and closing the deal. Presented by Peter Siegel & possible Special Co-Hosts will present & answer all your questions.
Posted at 6:17am | 0 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 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 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 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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Posted on September 8, 2009 Contributed by Peter Siegel
7 Steps to Buying a Liquor Store
Unlike many small businesses, due to strict regulations there are many steps that you must take before you can consider buying a liquor store. Peter Siegel with BizBen discusses the seven steps will put you on the right track to buy a liquor store legally.
Posted at 7:30am | 5 Comments
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Posted on August 17, 2009 Contributed by Cyrus Safavian
Buying A Business With Retirement Funds: Pros & Cons
In light of today’s lending difficulties, have you considered purchasing your small business or franchise through a self-directed 401(k) investment plan? If so, you are not alone. Accessing the funds in one’s IRA, 401(k), SEP or other tax-deferred retirement account to as investment capital for a new business is a very attractive option – especially since it can be done without incurring early distribution taxes or penalties. Cyrus Safavian walks us through this process in this article.
Posted at 8:13am | 2 Comments
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Posted on August 17, 2009 Contributed by Jeff Back
Working With The ABC: Inside Look At Liquor Licenses
What you will read in this article you will probably not find in any manual or set of instructions provided by the ABC. What I write about in this article is about the many things I have learned the hard way over 20 years of working as a restaurant broker with the ABC to transfer beer and wine and full liquor licenses. This blog post/article is written by Jeff Back a restaurant sales specialist.
Posted at 8:03am | 5 Comments
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Posted on August 11, 2009 Contributed by Willard Michlin
Mentoring In How To Buy A Business
Mentoring can be an important process when buying a small business. Willard Michlin, a due diligence specialist shares his views on the mentoring process in this article about how business buyers can "profit" from such a relationship.
Posted at 7:40am | 4 Comments
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Posted on August 6, 2009 Contributed by Chuck Post
Buying A Coin Laundry: What All Buyers Need To Know
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.
Posted at 7:34am | 4 Comments
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Posted on August 4, 2009 Contributed by Lee Petsas
Allocation Of The Purchase Price In A Business Sale
There are a handful of key asset categories in allocating or breaking down the purchase price of a business during the sale process. In many instances buyers and sellers have different desires in how to “chop up” the purchase price. The allocation in required to complete the transaction. In this blog post/article Lee Petsas covers the most common used asset allocation classes.
Posted at 6:15am | 4 Comments
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Posted on July 29, 2009 Contributed by Tawnya Gilreath, CBB
How Escrow Protects You In A Business Transaction
In dealing with business sales, often times the Seller or the Buyer will ask about the use of an escrow company. The seller may say, Why can't the buyer just pay me cash or give me a cashier’s check? Tawnya Gilreath a Los Angeles County business broker discusses why it's always a good idea to utilize specialized escrow services to close a deal.
Posted at 8:29am | 9 Comments
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Posted on July 22, 2009 Contributed by Jeff Back
Buying A Restaurant? Make Sure You Check Its Karma!
Checking a restaurant's Karma before buyinig can make a big difference not only in the success of the restaurant but also its possible effect on valuation. Jeff Back, a business broker specialist who specializes in selling restaurants discusses what he looks for when sizing up a potential restaurant for sale.
Posted at 6:20am | 3 Comments
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Posted on July 15, 2009 Contributed by Tawnya Gilreath, CBB
Why Earnest Money Deposit Requirements Can Be High
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.
Posted at 8:09am | 7 Comments
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Posted on July 12, 2009 Contributed by Steve Fitzgerald
How To Be A Stronger Business Buyer
People who are looking to purchase a business are generally lumped into an overall category referred to as 'Buyers’. I can tell you from many years experience as a business broker that all Buyers are not created equal. Steve Fitzgerald a San Diego business broker discusses how business buyers approach the task of interfacing with brokers and meeting with sellers can make their search very productive or exceedingly frustrating and inefficient.
Posted at 6:09pm | 3 Comments
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Posted on July 7, 2009 Contributed by Willard Michlin
Adjusted Net Income Defined By Due Diligence Service
Adjusted net income is sometimes a difficult concept to grasp when buying or selling a business. Willard Michlin who provides a due-diligence service for business buyers in the Ventura and Los Angeles County area gives us his definition. Willard Michlin defines adjusted net income in this blog post/article.
Posted at 6:32am | 5 Comments
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Posted on June 29, 2009 Contributed by Joe Sandbank
Successor Liability When Buying A Business
A major concern of anyone buying a business should be whether or not they will be exposed to any of the seller’s liabilities. This blog post/article by attorney Joe Sandbank covers: Stock Purchase instead of an Asset Purchase, Public Policy Exception for Manufacturing Businesses (the “Product Line Successor” rule), Failure to Comply with Bulk Sale Laws, Taxes.
Posted at 5:52am | 6 Comments
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Posted on June 25, 2009 Contributed by Ash Rasaei
First-Time Business Buyers: What You Need To Know
Making the transition from worker bee to small business owner involves a great deal of time, effort, money, and personal commitment. It is not a decision to be made hastily nor taken lightly. There are certain questions you need to ask and certain elements to consider, with every step along the way a potential pitfall. Ash Rasaei with Prudens Business Advisors discusses what first time buyers should know before buying a small business.
Posted at 9:14am | 8 Comments
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Posted on June 4, 2009 Contributed by Ron Hottes
How To Hire A Good Attorney When Buying A Small Business
Businesses acquisitions come in all types and sizes, and so do lawyers, law firms and legal services. Hiring a good lawyer is very important because they can have a great amount of input over the success, or lack of success in purchasing a business. Careful selection of the right lawyer to guide you through the process of buying a business is critical. Most people spend more time shopping for groceries than they do for selecting a good lawyer. Southern California business broker Ron Hottes gives his perspective on utilizing attorneys when buying a small businesses.
Posted at 8:42am | 4 Comments
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