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Transcript
In this episode, Andy and Jessica are sharing stories that reflect what to watch out for in a deal — those situations that you wish you are not involved in when closing a deal. Transworld Business advisors have a lot of “war stories” during the 40 years in assisting the sale of thousands of businesses. If mistakes are made when selling a business, its value can drastically be affected and even the ability to sell it at all. Legal agreements and laws protect people during transactions but their reach goes to a certain extent; there are major issues that can’t be solved in court and will be addressed in this episode.
Listing of the week: Diane Warsoff (Utah County). Turn-Key High-End Catering Business in business for over 30 years. One of the largest on-site kitchens. Price: $1.45 million. Annual receipts: $6.3 million. SDE: $255,000. Contact Diane at 801-753-5655 or email [email protected].
Key Takeaways
[2:11] You should not tell your employees before the sale is closed.
[4:06] Don’t bring the buyer into the business before the deal is closed.
[7:44] Sometimes small deals bring more problems.
[8:07] Accepting the highest-priced offer is not always the best choice.
[8:43] Look at the deal holistically.
[12:17] Don’t tell your vendors and suppliers upfront before the sale is done.
[14:17] Don’t kick your advisors and brokers out of the deal.
[18:34] Al Fialkovich (Rocky Mountains).
[19:14] Al Fialkovich shares a case of a deal that went wrong.
[23:26] Deal of the week: Patrick Bombardiere (Rocky Mountains). Sold a local donut shop that was in business for over 40 years. Sold for $240,000.
[26:54] Henry Ziff (London) presents two stories when the price was not the main factor in the deal.
[34:17] Listing of the week: Diane Warsoff (Utah County). Turn-Key High-End Catering Business in business for over 30 years. One of the largest on-site kitchens. Price: $1.45 million. Annual receipts: $6.3 million. SDE: $255,000.
Call us — 888-711-9018
Email us [email protected]
Email Henry Ziff at [email protected] or call 0203-911-1059, and visit tworlduk.com
Call Diane Warsoff at 801-753-5655 or email [email protected].
Mentioned in This Episode
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