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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Posts contributed by Peter Siegel
The following posts were contributed by Peter Siegel.
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Posted on November 18, 2009
Purchase A Business Considerations - Will Your Business Purchase Pay Off?
A logical question from people looking to purchase a business is whether they can afford a company that will produce enough profit to meet their needs. Some guidelines are useful to help buyers make intelligent decisions regarding business values.
Posted at 9:33am | 0 Comments
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Posted on November 4, 2009
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
Sales Of California Small Businesses Make Gains In October
The number of small and mid-market California business sold in October increased substantially from the figures posted for the past few months. We hope this marks the beginning of an upward trend into the rest of the year and in 2010. Read more about recent trends and view actual sales numbers from October 2009.
Posted at 7:32am | 2 Comments
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Posted on October 28, 2009
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 27, 2009
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
Selling A Business: FREE Online Webinar For Owners - February 10th, Wednesday
70% of all small and mid-sized businesses never sell when they are put on the market. Selling a business is not like selling a piece of real estate or any other type of asset. This webinar is designed for small and mid-sized owners who are thinking of selling their business and need to know how to prepare and follow-through the right way to successfully value and sell their business. Selecting the right business broker or agent is also critical for this process and we will explore what to look for in an intermediary and what you should expect from them. This FREE webinar is designed for business owners of small and mid-sized businesses and is presented by Peter Siegel.
Posted at 7:24am | 0 Comments
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Posted on October 21, 2009
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 19, 2009
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 14, 2009
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
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
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 7, 2009
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 6, 2009
SBA Sees Boost in Lending to Small Businesses
The money needed to help individuals buy small businesses or to enable small business owners to expand their companies is becoming more available after the severe credit freeze that impacted the economy during the end of 2008 and the first part 2009. The SBA announced that loans to businesses totaled $1.9 billion in September, the highest monthly sum since August 2007.
Posted at 8:41am | 1 Comment
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Posted on September 29, 2009
Experts Panel: Creative Solutions For Florist Seller
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.
Posted at 9:03am | 6 Comments
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Posted on September 22, 2009
SBA Hiking Goodwill Limit Imposed on Business Purchases
SBA Hiking Goodwill Limit Imposed on Business Purchases Yielding to pressures from some Small Business Administration-approved lenders and much of the business community, the SBA has announced it will boost the limit it imposed on the amount of goodwill that can be included in a business purchased with borrowed funds.
Posted at 9:41am | 4 Comments
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Posted on September 21, 2009
Add Backs: What Is for Real When Reviewing Financials?
The use of “add backs” is common among sellers of small and mid-sized businesses when showing their financials and explaining that the buyer will actually enjoy more profit than is shown. But buyers are cautioned to watch out for “add backs” that are actual expenses pretending to be owner benefits.
Posted at 8:33am | 2 Comments
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Posted on September 18, 2009
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 8, 2009
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 20, 2009
Buying A Bar: Due Diligence Issues & Tips
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.
Posted at 8:40am | 1 Comment
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Posted on August 6, 2009
Senior Care Franchise Seeks SF East Bay Franchisees
Jim Rusconi, Area Developer for Always Best Care Senior Services Franchises is now seeking franchisees for these counties: Alameda, Contra Costa, Solano. Always Best Care Senior Services Franchises is a franchise network of independently owned and operated offices which provide Non-Medical In-Home Care and Assisted Living Placement Services.
Posted at 6:43am | 0 Comments
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Posted on July 31, 2009
BizBen In The News This Week
Recent inquiries by business reporters from a major metropolitan daily newspaper and a news radio affiliate demonstrate a growing interest on the part of the media in learning about the buying and selling of small California businesses during this economic crisis, and talking to BizBen to get information. BizBen was contacted this past week by Cyndia Zwahlen, small business reporter for the Los Angeles Times, and Melissa Culross, news anchor for KCBS Radio in San Francisco. Their questions concerned the level of business sales and how that activity reflects the current trends in the state and national economies.
Posted at 6:28am | 0 Comments
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Posted on July 22, 2009
California Business Sales This Year Are Just Short of 9,000
A total of 8,999 small California businesses were sold in 2009, as of July 19, with a slowdown, in the most recently completed week. We’re watching some interesting movements in business sales figures this year with competing pressures at work. Peter Siegel, Founder of BizBen chats about recent small business sales figures.
Posted at 7:01am | 3 Comments
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Posted on July 12, 2009
30% Drop In SBA Lending, But Positive Trends Noticed
The Small Business Administration has announced it approved 11,580 loans in the second quarter of 2009, representing a 30% reduction from the 16,490 loans it backed in the same period last year. Value of the loans guaranteed in the April through June period of 2009 was $2.5 billion, compared to the $3.5 billion figure for the quarter ended June 30, 2008.
Posted at 5:21pm | 1 Comment
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Posted on May 21, 2009
WANTED: N. CA. Restaurant, Business With Adj. Net $250K +
Criss Atwel a business buyer in Northern California is looking to buy a business. Check out his search criteria and let him know if you have any businesses that match his criteria.
Posted at 9:35am | 0 Comments
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Posted on May 21, 2009
Owner Asks: Good Time To Sell With Lease Coming Up?
A potential small business owner/seller asks the question: I have a preschool and am thinking about selling it but my lease is ending soon. What would be the best thing to do? Do I renew the contract or do I act the landlord to sign a contract to the new buyer? and is it a good time to sell?
Posted at 7:40am | 4 Comments
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Posted on May 20, 2009
Why an Internet Franchise May be Right for You
You may not want the drawbacks associated with a traditional brick and mortar business, which includes employees, office space, lots of overhead, and more. If that’s the case, then an internet franchise may be perfect for you.
Posted at 7:00am | 4 Comments
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Posted on May 20, 2009
Pet Option Franchise Possibilities For Franchise Buyers
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.
Posted at 6:07am | 3 Comments
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