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 tagged 'buy a business'
The following posts are associated with the 'buy a business' tag.
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Results 1 - 30 of 139 |
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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 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 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 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 Cyrus Safavian
FREE Online Webinar: Buying A Business With Retirement Funds - 11/12
In this free online webinar we will discuss how investing your 401(k) funds into a business works, the “do’s and dont’s” of operating the plan, and maximizing your 401(k)s profit potential while investing in your own future. Don’t miss out! One of the nation’s premier 401(k) business rollover specialists, Cyrus Safavian, is hosting the event to answer all of your 401(k) rollover questions.
Posted at 5:08am | 1 Comment
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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 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 20, 2009 Contributed by Peter Siegel
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 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 Ron Hottes
New Types Of Business Buyers Emerge In Current Economy
As the country continues to struggle with the ups and downs of the economy, and California sees its way through a troubling budget, many things are being forced to change. One change that is emerging from the challenged business brokerage industry is several new types of business buyers many business brokers and agents are now seeing. Ron Hottes (business broker in Southern California) discusses the traits of these business buyers.
Posted at 8:16am | 4 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 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 23, 2009 Contributed by KC Choi
How Is A LOI Different Than A Purchase Agreement?
While a purchase agreement is a binding contract with rights and obligations for each party that contains all the terms and conditions of the transaction; a preceding Letter Of Intent (LOI) is often overlooked for its significance. Business broker, KC Choi explains the difference between an LOI and a purchase agreement in this BizBen article.
Posted at 8:58am | 4 Comments
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Posted on June 11, 2009 Contributed by Jonathan Smith
Buyer Preparation Is Key To Getting Financing
Before one starts to search for a business to buy there are a number of key points to have in order. When seeking funding all lenders or intermediaries will ask for the same basic financial package and you will save considerable time and energy having prepared the package electronically so you can submit the package with ease. Jonathan Smith, a financing/loan consultant broker for business purchase financing discusses this topic with BizBen readers.
Posted at 5:35am | 4 Comments
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