Welcome to the Business Broker Services, Inc. Blog. December, 2011
Ironically, with regard to media input of negativity, 2011 was a normal year for Business Broker Services, Inc. We placed under agreement our manufacturing-distribution businesses, 2 service companies, food mfg with retail sales, plus others. If you are interested in the details of these, please feel free to call me.
Our Certified Business Evaluations kept us extremely busy. One evaluation in particular involved a partnership dispute. The partners had owned the business for four years. Major discourse arose between them. I was retained to mediate the dissolution of the partnership and the business, as amicably as possible. It is my personal opinion that we accomplished that as amicably as possible and on Christmas Eve afternoon. It is always sad to me to be involved in a partnership dispute but I am pleased with the results. The business could not grow with partners dreaming in different directions.
We evaluated many of the businesses to prepare them for the marketplace. The evaluation gives the seller a bird’s eye view of how their business looks in the marketplace. Is it priced appropriately? What changes need to be made to help it sell for the fairest price? Where should the business be marketed to find the right buyer who will appreciate and pay the right price for the business? The financing – where is it for this type of business? In addition there were evaluations for buyers to buy – divorce – insurance and estate planning – along with preparation for expert court testimony on two of the businesses.
Having heard so many stories about the lack of financing out there I was relieved that the businesses we placed under agreement were for cash with very little owner financing, if any. This is true! Hard to believe given the media’s interpretation of the industry!
Check in with us to find out where the financing is!
Currently we are in the process of rebuilding our inventory. That means we are soliciting for new listings, auditing the businesses as they come in, prepare the marketing packages so that the buyers have in depth understanding of what they are purchasing.
Again, feel free to call and chat with me! I have been in this industry a very long time! I have seen these financial cycles many, many times and understand how to sort through and survive them. It is a very good time to buy a business.
Oh! Forgot to mention. I have had lots of inquiries for my seminar workshop, “How to buy that Existing Business”. Sign up today if you have not bought or sold that existing business, yet!