Hiring Deal Professionals

Transcript

Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they delve into what you need to know to build a team to help you sell your business. Tuning in, you’ll learn how to hire the necessary deal professionals from a CPA to a business broker, gain insight into the questions you should ask before you hire them, and find out how much all of this should cost you upfront. This episode also covers important systems and processes, red flags to be aware of, general advice for choosing the right people to support you, and just about everything else you need to know. For your comprehensive guide to assembling a dream team to facilitate the sale of your business, tune in today!

Listing of the Week:

Linda Boswell from Transworld Business Advisors of Dallas Fort Worth Central is selling a highly successful full-service insulation business specializing in spray foam and fiber products. The growth of this established, turn-key essential business has remained strong and continued to rise during recent economic downturns. It comes with high margins, highly capable crews, and plentiful opportunities. Buyers will need $950,000 (with seller finance if necessary).

You can contact Linda via Transworld Business Advisors of Dallas / Fort Worth Central or call her on (817)-755-1026.

Key Takeaways

[00:37] The four key people you need on your team.
[02:08] Questions to ask deal professionals before you hire them.
[05:17] Why the best advisors are as creative as they are experienced.
[07:52] Differentiating between business brokers, M&A advisors, and investment bankers.
[09:49] Reasons to choose a transaction specialist over an industry player.
[12:43] Everything you need to know about cost evaluations and upfront fees.
[18:15] Systems and processes that deal professionals should have in place.
[21:05] General advice for finding the right people for your team.
[23:57] Listing of The Week: Linda Boswell (Dallas Fort Worth) offers listeners the opportunity to buy a successful full-service insulation business in Dallas County with high margins and highly capable crews!
[25:51] Deal of The Week: Charlie Scarlett (St. Louis) shares fascinating details from the recent sale of a historic bed and breakfast in Hannibal, Missouri, which features original Mark Twain memorabilia. Charlie ultimately sold the business for $1.2 million.

Links Mentioned in Today’s Episode:

Call us on (888) 719-9098 

Email us at [email protected] 

Contact Linda Boswell via Transworld Business Advisors of Dallas / Fort Worth Central or call her on (817)-755-1026

Email Charlie Scarlett at [email protected] or call him on (636)-400-5409

#thedealboard #transworldbusinessadvisors #realestate #commercial

Quotes:

“Equally as important as selling your business for a big price is keeping that money over time.” — Jessica Fialkovich [0:02:01]

“Understanding the nuances of selling deals over and over again is very important. You’re going to want someone who – has done this many times.” — Andy Cagnetta [0:04:54]

“How business transactions are niched is not by industry – It’s by deal size.” — Jessica Fialkovich [0:11:28]

“When you’re searching for the right broker or M&A advisor, your success needs to be aligned with their success. The majority of their income should be on the backend of the deal – so they’re incentivized to get your business sold.” — Jessica Fialkovich [0:16:52]

Mentioned in This Episode

• The Deal Board Podcast
• Subscribe to The Deal Board Podcast YouTube Channel
• The Deal Board on LinkedIn
• The Deal Board on Facebook
• Transworld Business Advisors
• Transworld Business Advisors on LinkedIn
• Transworld Business Advisors on Facebook
• United Franchise Group