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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Contact me by phone
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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 May 19, 2009
Times When It's Your Broker Who Should Handle Negotiations
While much of the negotiating for purchase of a small California business is conducted at “arms length,” meaning that the principal is not present when his or her offer or counteroffer is presented to the other party, there are times when buyer and seller find themselves at the same table, where they attempt to come to an agreement on a deal.
Posted at 8:50am | 1 Comment
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Posted on May 19, 2009
SELLERS: Don’t Make It Hard To Buy Your Business
After spending several days talking to dozens of people who claim to have an interest in a business for sale; after answering the same dumb question for the millionth time; after discovering that a great majority of these so-called buyers lack either the money, the common sense, or enough business etiquette--maybe all three--to purchase the business in the first place, it is not surprising that many sellers start to burn out on the process.
Posted at 6:48am | 3 Comments
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Posted on May 18, 2009
SBA Launches New 100-Percent Guarantee ARC Loan Program
Small businesses suffering financial hardship as a result of the slow economy may be eligible to receive temporary relief to keep their doors open and get their cash flow back on track through to a new loan program announced today by SBA Administrator Karen G. Mills.
Posted at 7:19am | 1 Comment
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Posted on May 18, 2009
ActionCOACH Franchise Seeks Franchisees In California
ActionCOACH a business consulting franchise is looking for individuals throughout California to join them with their business consulting franchise system. As an ActionCOACH Business Coach, you will coach multiple business owners in your local community – working in long term (12 months or more) relationships and helping them build profits and business success. You will put our proven systems to work, and be part of a team of dedicated professionals throughout California.
Posted at 6:06am | 0 Comments
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Posted on May 14, 2009
Economic Conditions Demand Expanded Services
Declaring that "the present state of the economy demands intensified evaluations of small and mid-market business expenses" -- from leasehold/rent costs to debt service -- before a business can qualify for a sale or financing, Randall Barondess, C.B.B., director of the Thousand Oaks-based Business Brokerage Division of Troop Real Estate, Inc. announces expansion of its services to include such key offerings as financial recasting.
Posted at 5:35am | 0 Comments
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Posted on May 7, 2009
Tips For Getting A Vending Route Ready To Sell
The population of qualified buyers for small California businesses has grown dramatically over recent months, with corporate layoffs releasing thousands of business-savvy people with cash and borrowing resources into the market for companies they can buy and manage. A well-run organization with a history of profitability, in a business that doesn't require advanced university degrees to understand and operate, is exactly what these buyers want.
Posted at 8:29am | 3 Comments
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Posted on May 7, 2009
How to Spot a Franchise Scam - Items To Watch Out For
Buying a new franchise is an excellent way to own a successful business. However, like everything else in life, while searching for the right franchise for you to buy you need to be on the lookout for potential scams.
Posted at 7:36am | 2 Comments
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Posted on May 5, 2009
Seller Training: An Overview About This Provision
Seller training from a business owner after a sale of a business can mean all the difference to a buyer and how successful the transition. This article by Peter Siegel of BizBen talks about different aspects of seller training after a small business has been sold.
Posted at 5:42am | 2 Comments
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Posted on April 24, 2009
Resourcefulness A Great Characteristic In A Franchise
When examining franchise opportunities to purchase, one helpful trend to look for in any franchise concept is how well the franchise adapts to any form of change. With this in mind, at no time are innovative franchise actions more significant than during economic slowdowns. Following are some examples of situations where franchises have found continued success through some inventive and inspired means/relationships.
Posted at 8:05pm | 1 Comment
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Posted on April 21, 2009
Biggest Complaints Regarding Business Buyers
Have the results back from surveying business buyers, business owners/sellers, and business brokers and agents about what annoys them most about the other participants in a deal. Some information was inevitable some was surprising.
Posted at 8:39pm | 0 Comments
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Posted on April 20, 2009
Earn Outs: Latest Feedback, Structuring An Earn Out
Questions regarding earn outs in deal structures is starting to come up a lot these days. "Answers To Viewers Questions" section of the BizBen Blog we explore answers to the question, "Is this a good time for buyers and sellers to use "earn outs" so if the business value has slipped because of the economy, the seller stands to gain when things get better, and the buyer can get a good business at today's discounted price, then pay for its recovered value from proceeds of the business? Also, how do you recommend structuring the earn out" See what our panel of professionals and viewer comments have said to answer this question about some mistakes buyers of small businesses make.
Posted at 9:30pm | 5 Comments
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Posted on April 12, 2009
What is a Franchise UFOC?
The Uniform Franchise Offering Circular (UFOC) is a comprehensive document every franchisor is required to process and keep current. The FTC requires franchisors to give the UFOC to prospects that want to purchase a franchise from the franchisor.
Posted at 7:45am | 0 Comments
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Posted on April 9, 2009
Interpreting Reported Earnings From Sellers
New business brokers--perhaps those who've been selling homes in the past and are switching over--may be baffled about how to advertise seller's earnings if they've listed a business opportunity. Here are some guidelines for understanding the seller's earnings statements.
Posted at 6:39pm | 0 Comments
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Posted on April 7, 2009
What Are Business Buyers Biggest Mistakes?
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 our panel of professionals and viewer comments have said to answer this question about some mistakes buyers of small businesses make.
Posted at 11:30pm | 5 Comments
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Posted on April 7, 2009
SBA Loans Down By Nearly Half For Quarter
Fewer than 8,300 SBA 7 (a) program loans were made to small businesses in the first three months of 2009, a decline of nearly 50% from about 19,000 SBA-backed loans issued in the same period last year.
Posted at 8:11am | 1 Comment
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Posted on April 5, 2009
Evaluating Residential Care Homes To Buy
Described in various ways, as licensed care homes, assisted living properties and residential care facilities, these enterprises can be very profitable and offer substantial potential for growth as the market for their services expands.
Posted at 10:03pm | 1 Comment
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Posted on April 3, 2009
What Are The Better Businesses To Buy In This Economy?
Times are tough. Our economy has taken the art of buying a business to a whole new level. In our perodic "Answers To Viewers Questions" section of the BizBen Blog we explore answers to the question, "What Are The Better Businesses To Buy In This Economy?" See what our panel of professionals and viewer comments have said to answer this timely question.
Posted at 5:12pm | 4 Comments
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Posted on March 24, 2009
BizBen Fast Track Ads: Better Management & Lower Price
Recent updates with BizBen Fast Track ads (featured ads) are numerous. First you can add pictures to all your Fast Track ads your self in either when adding an ad or editing an existing ad on BizBen. Advertising Accounts with multiple ads - in the Multi-Ad advertising program can switch their Fast Track ads at anytime online and can order additional Fast Track ads at a discounted price at this time. Also prices on Fast Track ads have been reduced for the time by 50% off the original price.
Posted at 1:15pm | 0 Comments
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Posted on March 23, 2009
Pictures Can Now Be Added To Business Listing Ads
Pictures can now be added to business for sale listing ads on BizBen. Up to 4 pictures of the business being sold can now be added to any business for sale listing ad.
Posted at 11:11pm | 0 Comments
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Posted on March 20, 2009
Using Vendor Financing For Business Purchases
Vendor financing is one option in the quest to buy a small business. With SBA financing getting more difficult these days, vendor financing is one possibility for business purchase financing.
Posted at 9:56pm | 0 Comments
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Posted on March 16, 2009
SBA Loan Changes: Good For Business Purchase Financing
Today President Obama reiterated his belief that we owe it to America’s small businesses to be the partner they need in the midst of this crisis. At SBA, we couldn’t agree more. “SBA this week is implementing two key provisions laid out in the Recovery Act – we are temporarily eliminating certain loan fees and raising guarantees on some 7(a) loans up to 90 percent. With these critical steps by SBA, and the Treasury Department’s commitment of up to $15 billion aimed at getting lending markets flowing again, we are standing up with small business owners across this country and telling them how we are going to put much-needed capital in their hands.
Posted at 10:43pm | 3 Comments
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