If you are thinking about buying a business…
I’ve got good news! The good news is your timing couldn’t be better. There are more great businesses available right now than ever before as thousands and thousands of successful “baby boomer” business owners begin to reach retirement age.
It’s time for them to move on – that means there is an incredible opportunity available right now!
And because the general economy is a bit slow, the prices of many of these businesses are the best in years.
The bad news is…
There are so many businesses for sale, how do you know which one is right for you? That’s the “million dollar question”.
Pick the right business and you will jump out of bed every morning full of excitement! Buy the wrong business, and well… you will just want to pull the covers over your head.
Here is a quick example of what could go wrong…
Early last year I was hired to help a school teacher buy a business (she was tired of teaching). Because she was very active physically, she had her heart set on buying an exercise studio. In fact, she had already picked one out, discussed the sale with the current owner and was ready to make a deposit.
But a friend suggested she talk to me first…
So I paid a visit to the business, did a tour, interviewed the owner and a few employees and went home with the all financials. After a day or two of digging, analyzing, and doing some projections it was clear this business was never going to be able to generate enough cash to support the business, pay back the bank loan, and provide enough income for the new owner.
The problem was as I explained all this to the school teacher, she became very upset. She still wanted to proceed in spite of my concerns.
I actually sat in her car in front of the business for more than three hours slowly going over the options and obstacles facing her and the business. We talked about cash flow. We talked about membership growth. We talked about geographic constraints, competition, industry trends and lots of other important factors.
Eventually I convinced her to pass on this business.
Fast forward to today and the business has been sold two times since then and the last owner was forced to file bankruptcy. The point here is the water is full of sharks and you must have an experienced business professional on your side that will give you the real facts. No sugar-coating. No “pie-in-the-sky” sales talk.
Do YOU qualify for my services?
If you are a serious buyer (not a “tire-kicker” or “lookie-loo”), you might be a good candidate for my services. If you do qualify (and if I have room for a new client), I can make a HUGE difference in helping you find the right business… a business specifically targeted for your personal situation.
I can help you “dig in” and do the right due diligence (using my 224 item checklist) so there are no surprises down the road. I can make sure you properly value the business (using a certified appraiser) so you don’t pay too much. I can help you negotiate (my real strength) the right price and the right financing (financing is key). Most importantly, I can help you get the deal closed (all the help in the world won’t matter if you can’t complete the deal)!
Give me a call at 732-212-1922 or fill out the form below and we’ll get started!
