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BizBen Discussions, Comments, Replies About Buying A Business

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Buying A Liquor Store - When Do I Perform The Inventory Count?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   The only time to get an exact and accurate inventory count, and valuation, is at the time the business is being transferred. To do so beforehand, would mean that any merchandise sold after inventory is taken, but before close of escrow - Peter Siegel, MBA with BizBen & others discuss this topic.
Should A Buyer Be Allowed To Operate A Business Before Escrow Closes?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Business buyers, brokers, owner/sellers all ask this question at some point. So I decided to ask some of the top Intermediaries in the California marketplace what they thought of the idea. Most of the ProIntermediaries on BizBen agreed with me on taking early possession before the close of escrow.
What Info Should Be Included In A Non Disclosure Agreement?

Posted By: Timothy Cunha JD, Business Broker: San Francisco Bay Area.   Just had a discussion with a owner/seller about non-disclosure agreements and confidentiality agreements when selling a business. Here was her question: "I am selling my business and I have heard I should have potential buyers sign a NDA. What items of information should I have on my NDA?"
Coronavirus: Buying And Selling Small Businesses During These Times

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   During this time period of being "sheltered in place" we discuss strategies, best practices that business buyers, business brokers, agents, and owner/sellers are practicing or thinking about during these times of being immobilized. Also discussed are business types that may be good purchases.
Is It Effective To Post Business For Sale Listings On Social Media Profiles?

Posted By: Marketing Consultant.   Posting business for sale listings on social media websites has become an increasingly popular, yet unproductive trend amongst business brokers. When posting your listings online, consider your audience and where potential business buyers and business owner/sellers spend their time online.
Business Broker Asks: What's More Important: Branding Myself Or The Brokerage?

Posted By: Marketing Consultant.   As a business broker, branding yourself with consistent and ongoing content is critical to your long-term success. Branding yourself protects you from outside factors that may affect your company's brand in the future and allows you to continue making progress if your company's circumstances change.
Can A Business Seller Back Out Of Escrow If They Simply Change Their Mind?

Posted By: Joe Ranieri, Business Broker: LA, Orange Counties.   Can a seller of a small business back out of an ongoing escrow? Probably, yes, it all depends how far along the escrow is, which will dictate how messy things will get for both owner & buyer. Joe Ranieri (Southern California Business Broker) gives his feedback with others on this BizBen Discussion.
Is The Old Adage True: Your First Offer Is The Best Offer - When Selling A Business?

Posted By: Joe Ranieri, Business Broker: LA, Orange Counties.   Sometimes business brokers just can't win with their clients, because if an offer comes in too fast & too early then they must have lowballed the price & the seller is suspicious, and if not enough offers come in after putting the business on the market - they may look unproductive to their clients.
What Factors Contribute To Coin And Card Laundry Business Valuations?

Posted By: Chuck Post: Laundry Specialist, Consultant, Due-Diligence.   We are finding that many laundry buyers and investors are not being given true light to selected elements of value or there are inconsistencies in the interpretation of these elements of value. This common error needs to be addressed. In this BizBen Discussion we address many of those factors.
Is Cash Flow Critical If Requesting A Business Acquisition Loan?

Posted By: Peter Siegel MBA: Business Purchase Financing Advisor.   Applying for a business acquisition loan can be challenging for someone who hasn't been through that process in the past. If one has a mortgage one knows that the value of the property being pledged has to at least equal the amount of the loan, SBA loans to buy a small business are very different.
Should I Buy A Small Business That is Losing Money?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   When considering buying a business that is losing money one has to be very careful. There are reasons that the business could be losing money that aren't fatal or extremely difficult to fix and there are other reasons that should send you running in the other direction. Peter Siegel, MBA explains.
Cash Based Businesses: How Do I Confirm Cash Being Represented?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   A buyer who I have been consulting with on the BizBen ProBuy Program is looking to buy a liquor store (and possible other "cash" oriented businesses). They asked me how they should verify cash being generated by the business and how to go about conducting due diligence etc.
Is Starting With A Higher Selling Price A Good Strategy? Showing An Asking Price?

Posted By: SF Bay Area Business Broker.   Is starting with a higher selling price a good strategy when selling a small business? or even showing an asking price? I have some definite ideas about this concept and would like to share along with other Advisors, Brokers, Agents contributors on BizBen. What are your thoughts on asking prices?
How Long Should Business Brokers Hold On To Their Client And Deal Files?

Posted By: Joe Ranieri, Business Broker: LA, Orange Counties.   As the year winds down, it's tempting for business brokers to go through their old files and throw them out to make room for new client's folders, but that would be foolish. Joe Ranieri (Orange County Business broker) discusses strategies for saving files - a key annual strategy for brokers/agents.
Elderly Care Homes: 5 Questions Buyers Should Not Be Afraid To Ask

Posted By: Broker/Consultant: Elderly Care Services.   When buying an Elderly Care Home what should potential buyers always ask the broker or owner before proceeding? Find out in this Discussion on BizBen. Items buyers of elderly care homes will want to know more about why the seller is moving on, average length of stay, placement fees paid, etc.
Is Crowd Funding A Viable Way To Raise Money To Buy A Small Business?

Posted By: Peter Siegel MBA: Business Purchase Financing Advisor.   We're hearing more and more about "crowd funding" through sites like gofundme and kickstarter as a possible way to raise the cash needed to buy a small business. This method of collecting funds has proven successful in other kinds of situations. Could this strategy work when buying a small business?
Is There Such A Thing As Paying Too Little When Buying A Small Business?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   We all understand the idea of paying too much for a small business. But is there such a thing as not paying enough? That seems like an odd notion, but I'm familiar with situations in which a buyer acquired a small business for a figure substantially under what probably was market value.
Seller Asks: How Long Should I Wait For The Buyer To Do Their Due Diligence?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Business buyers many times ask in my ProBuy consulting sessions - how long should I ask for due-diligence when buying a small business? The answer really depends on several factors. They include: type of business, demand for the business, complexity of the business. Advisors weigh in on this topic.
How Do I Navigate Through The Negotiation Process When Buying A Business?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Negotiating the terms of a business deal is a delicate process, where one wrong move can cost you the business that you wanted to purchase. Peter Siegel, MBA (BizBen ProBuy Program) discusses the ins and outs of negotiations, and how to work well with the seller to get a deal done.
Who Really Represents The Business Buyer? Does Dual Agency Work?

Posted By: Peter Siegel MBA: BizBen Founder, Lead Advisor.   Who really represents the buyer? The selling broker or agent through dual agency? Many brokers and agents weigh in on this Discussion on BizBen. Bottomline is all business buyers need to know who really represents them and has their best interest at heart when seeking and negotiating on deals.

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Coin Card Laundry Business Valuations What Top Key Factors Contribute To Coin & Card Laundry Business Valuations?

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Questions When Buying A Liquor Store Buying A Liquor Store: 3 Questions To Consider And Ask Before You Purchase

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Pocket Listings Pocket Listings: Vast Hidden Market Or Myth With Business Buyers & Sellers?

What percentage of businesses for sale that are advertised and/or sold are pocket listings? What is the best way to find out about pocket listings? Are they advertised? Are they a big part of the businesses sold marketplace? In this Discussion ProIntermediaries and ProAdvisors discuss this topic.
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Co Brokerage When Selling A Business Before You Select A Business Broker: Do They Co-Broker With Other Brokers?

To receive the fullest exposure for selling their business, small business owner/sellers should make sure their listing broker or agent is co-operating with other business brokers and agents on their deal. Christina Lazuric a Orange County business broker discusses this topic with BizBen Users.
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