Everything You Need to Know About Buying a Business: Part 2

Transcript

Andrew and Jessica have been doing this podcast for almost two years and they prepared this series of shows including the most relevant content for buyers. While slowly transiting the COVID-19 crisis, the current market belongs to buyers, those who want to acquire businesses, as well as businesses that want to expand by merging and acquisition.

Listen to the best of the interviews that have taken place at The Deal Board Podcast. In this amazing series, you will hear a compilation of the information that you must have, a shortcut for business owners and buyers to get all that they need to make good deals among good people.

Listing of the week: Robert Cunio (San Diego Central, California) is selling an over 20-year-old sign shop. Great business opportunity in the service business area, designing, manufacturing, and installing signs. Asking price: $210,000. SDE: $118,000. Call Robert at (888) 604-8221.

Key Takeaways

Key takeaways:

[4:55] Bill Luce and Damien Bekker join Andrew and Jessica to talk about franchising.

[10:42] Damien Bekker from Signarama shares his experience in franchising.

[12:50] Damien talks about deciding to join a franchise.

[16:15] Damien shares about the second opportunity that came to him through Transworld Business Advisors.

[18:03] Deal of the week: Carey Davis (New York City) sold internal medicine practice offices. A complicated sale that was successfully done. Price: $225,000, 50% down payment. Seller financed.

[23:04] Bill Luce, President of Transworld Business Advisors, an expert in franchising.

[23:45] How does franchising dominate every industry that it gets into?

[24:56] What makes a good franchise buyer?

[26:40] How to know which franchise is good for you.

[28:40] Bill Luce shares his advice for new franchisees.

[29:20] Deal of the week: Anthony Geronimo (Florida) sold a very successful dry cleaner. The buyer has an extensive hospitality background, eager to establish some roots. Property and business sold at $1,950,000.

[32:56] The flippers

[33:31] What is a flipper?

[35:40] Baby Boomers selling their businesses will outnumber qualified buyers.

[40:28] Jason Share, entrepreneur and buyer of several businesses.

[41:21] Try to find businesses that you are comfortable with.

[42:37] Be willing to take risks.

[44:22] Can you grow the business?

[45:01] Jason Share does not focus on price but rather on the ability to grow.

[46:39] Jason talks about the opportunities for Millennials.

[48:18] Listing of the week: Robert Cunio (San Diego Central, California)

[51:35] Tom Jones

[52:10] How are flippers different from other buyers?

[54:12] When buyers are looking for a business with a short term in mind they are not looking for any particular type or size of business.

[55:15] How long do flippers hold on to the acquired business?

[55:59] Flippers do not get emotionally attached to their businesses.

[57:55] Tom talks about the opportunities in the next two to five years with Baby Boomers retiring.

Mentioned in this Episode:

The Deal Board Podcast

United Franchise Group

Transworld Business Advisors

Transworld on Linkedin

Transworld on Facebook

Call us — (888) 711-9018

Email us [email protected]

Call Carey Davis at (646) 707-4559 or email: [email protected]

Call Anthony F. Geronimo at (407) 745-0464 or email [email protected]

Call Robert Cunio at (888) 604-8221

Call Tom Jones at (754) 224-3111

Mentioned in This Episode

• The Deal Board Podcast
• Transworld Business Advisors
• Transworld on LinkedIn
• Transworld on Facebook
• United Franchise Group