The Holiday’s are almost here and this is an exceptional time to think about either wanting to sell your business or to purchase a business during the Holiday and New Year Season. It might be time to think about your career goals and objectives or exit strategy and the Cash Flow and Seller Discretionary Earnings that you require and if you are thinking about changing your career path. There are many significant businesses that we represent for sale and for buyers looking to purchase the right business. If you are a potential Seller wanting to confidentially sell your business in any service, professional, automotive, restaurant, manufacturing related, beauty, internet or technology business or any type of franchise and resell of the franchise or a Buyer wishing to purchase a Business then think no further than Phil Haney-Senior Business Broker/Sales Agent in the Santa Clarita Valley. I am fully focused and involved successfully in Representing Sellers and Buyers in the Sale and then Purchase of all types of businesses based on my vast business expertise and professionalism in business brokering for the last 17 years and also providing consulting for businesses and clients. Further my vast business expertise in operating and running large Divisions in Manufacturing and Operations in the Corporate World for many years and handling Mergers, Acquisitions and Owning several Franchises along with my past as an Officer in the Military has given me the insight to provide the best Representation and Guidance for Sellers and Buyers and Valuations on Business and providing a Win/Win for Sellers and Buyers.
At Sunbelt Business Brokers and Advisors we are the largest Business Brokerage Entity in the United States and sell more businesses than any other organization. Sunbelt is the place to go to buy or sell a business. This can be the perfect time for you and family to consider your options and future plans for your next vocation or career path or to sell your business and receive the rewards for all your growth and hard work or for your exist strategy.
At Sunbelt we use a 10-Step Process to Sell a Business:
A Business Broker Professional & Consulting Service Executive such as our Sunbelt Business Broker & Advisors organization can provide the necessary professional knowledge, skills, and business advice and Representation to either sell your business, provide consulting and an improved thought process for you, and for prospective buyers to purchase what they desire. To also represent the sale of the Business for you when ready or to assist you as a Buyer. Give me a call or email me to coordinate a confidential meeting on your business and representation or buyer requirements. I can be reached at my email address at email@example.com or calling our main office or my personal cell phone at 661-644-5313.
Happy Holidays, Season Greetings and a Merry Christmas coming up. Enjoy and give me a call to talk further. A wonderful Gift would be a profitable business!!!
The election is over. I know so many of my clients were so tired of hearing the news media producing negative information on the people running for government jobs. It created a negative effect on our economy during the last 2 years. It kept many people from making decisions on purchasing a business in 2016. I call it the fear of the unknown. But, the political battle is over and now people can get back to rebuilding their business lives and rebuilding America.
Choosing to buy a business is not an easy task. It requires motivation, study, and the ability to recognize that a price agreed to at time of final negotiations is the correct path to closing the deal. As a Business Broker, I sometimes see buyers hesitate to make the decision to purchase a business. They later recognize often too late in the game that they made the wrong decision. They lose out on a Great deal, simply because of the fear of the unknown. There will always be risk involved in purchasing any business. This is an absolute. But, if you as a buyer can steady your hand and visualize the path that lies ahead for a company that you’re going to purchase, you will always make the right decision.
I had a buyer recently that had a fear of paying taxes because the company he was going to purchase made too much money. There is nothing wrong with paying taxes, as long as you know you are going to realize the bottom line goes into your pocket.
2016 has been an exciting year. I have helped so many clients formalize their decisions on purchasing a business. If they didn’t purchase a business in 2016, they now have a path to assure them a smooth transition to a business purchase in 2017. I value my clients and I am always available to bring my consulting efforts to the table. I look forward to a very strong and profitable year in 2017 for all of my clients. If you want a path to a successful business future, give me a call anytime! Perry Angress
My client’s father asked him a very important question about his future as a business owner, “Are you going to work half day on the last day of your life?” This question is more poignant to me because my father had a stroke at work and never came home again. Fortunately, my client has built a strong, profitable business. As his business broker, every day I find people interested in buying it. We are currently in escrow and will close a few days after this article is published. My client will take home over $1.5 million dollars, a consulting contract and 10 years of rent on the property he owns, a package deal totaling well over $2 million.
What is your business worth? Will you be comfortable in retirement upon selling it? I often wish I could meet a business seller 5 years before they want to exit their business. I have a process that has helped hundreds of owners increase the value of their business by millions of dollars. Among my clients are Coconut Joe’s, Mauricio’s, Porterville Citrus and my protégé helped to develop Pop Cap Games, the creator of Bejeweled. Pop Gap sold for $1.3 billion dollars. Many of our clients have been honored in INC magazine as the fastest growing businesses in the nation.
The process is contained in Best Practices of High Performance Entrepreneurs, currently available on Amazon.com. While the book is very helpful, we have found that most business owners need some encouragement to implement the process. It all starts with a change in attitude about your business. Instead of puzzling over your next sale, you should be planning how to generate another $1 million in sales. The scope of your business will change dramatically as you implement your strategy. You will require policies and procedures to help you control the growth. That is where the book comes in. It is a checklist of the things great businesses do to make more money and increase equity, so you get more for the business when you sell it. This is not a revolutionary process, most great CEOs follow similar steps to increase their stock price, but very few entrepreneurs know how to do that.
We at Sunbelt Business Brokers and Advisors invite you to come to a free seminar in the first quarter of 2017 and learn how you can increase the value of your business by millions of dollars in five years. Please call 661-323-2358 to find a convenient time.
By Russ Allred MBA
“I can’t play golf every day.” “My wife wants to see more of me — but not at every breakfast, lunch, and dinner!” “What do other ex-owners do after they’ve sold out?” Failing to answer these concerns can create vacillation, reluctance, and ultimately, an unwillingness on the part of many owners to proceed with planning for their business exits. To examine these concerns, lets analyze a panel of former business owners involved in the owner to former owner transition. All three reported that selling out was the “best thing possible for me and for my family.” That said, each owner approached the sale differently and each has pursued different interests in its aftermath. Tom Frankl was 62 when he sold his high-tech manufacturing firm. He was prompted to sell first when his accountant introduced Tom to Exit Planning and helped him put in place a successor management team. Complementing this concrete Exit Planning step was Tom’s realization that his emotional connection to the business was loosening. When these objective and subjective events converged, Tom began working with his advisors to orchestrate a sale. Bill Dirrito, the owner of a clothing and apparel manufacturing company, entered his business with one goal: reach $50 million in sales and sell out. Bill reached that threshold and determined that he’d have to make a huge investment to retain his current market share so he hired a transaction attorney and an investment banker and sold the company. Unlike Bill, John Six, the 55-year old owner of a low-tech manufacturing company was not focused on an eventual sale. In fact, he didn’t want to sell because he felt he finally “had it going just right.” When confronted with the idea that the time to sell coincides with the existence of continued upside potential, John started thinking about the hard times he’d been through. If hard times returned, he wondered if the company could survive and knew that losing his “upside” would be the least of his worries. He, too, made the call to his advisors. Having all arrived at the closing table via different routes, each now-former owner, has found a similar satisfaction in the decision to sell and in life after the sale. Tom arranged his sale so that his employees kept their jobs and gained greater career opportunities. This gave and continues to give Tom more peace of mind. While he did not have a detailed plan in place for life after the sale, he quickly found new outlets for his energy. He has become the “Park Superintendent” of his 70-acre property. He’s spending time with his wife and family, has time to travel the world, is considering developing some farmland and has taken an active role in community philanthropy. In Tom’s words, “One of the things I appreciate most in this ‘retired life’ is that it isn’t a ‘retired life’ at all.” John echoes Tom’s comfort with this decision. “Of course I wondered what I would do [after the sale] because I was in that business for 30 years. But the day I walked out of there I never looked back. I never missed it. It’s incredible but my schedule is calendared 18 months ahead.” On John’s calendar are motor home vacations, developing an industrial park and expanding his world class collection of race cars. John leaves the house by seven each morning and doesn’t find his way home until late afternoon. Bill, the planner of the group, anticipated that he’d need a place to go— outside of his home — on the day after the sale. He rented and equipped an executive suite and mapped out the first three months after the sale. Today, he spends time on his hobbies (golf, horses and motorcycles). He has educated himself about investing, advises other business owners and works collaboratively with his investment manager. By any yardstick these former owners remain engaged and vital. They have moved into a new era in their lives — an era untroubled by financial concerns. Not every former owner has the same experience, but our firm believes that owners who thoughtfully plan their exit increase the likelihood that they will be satisfied with their exit and whatever follows. We’d like to sit down and talk about the role that we can play in crafting a future that works best for each and every business owner. Getting the most for your business and getting it in the best way. We know stuff that our contemporaries can’t know.