The Deal Board: Recent Episodes
Andy Cagnetta & Jessica Fialkovich
The Deal Board podcast is a place for small business owners and entrepreneurs to learn the best way sell a business or buy a business. Business Exit Experts, Andy Cagnetta and Jessica Fialkovich, lead discussions with expert business brokers, M&A professionals, and entrepreneurs that have sold a business or bought a business. Whether you are looking to learn how to sell a business, information on business valuation, or how to buy a business – The Deal Board gives you the behind the scenes of the entire mergers and acquisitions world.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they delve into the most recent BizBuySell Insight Report and explore how it reflects the statistics coming out of Transworld. Tuning in, you’ll learn about some of the major overarching themes from the report, get Transworld’s spin on them, and discover how volume and pricing are rising in surprising industries as 2024 business sales pick up steam. For an insider’s look at the positive signs and indications for a strong year ahead, be sure to tune in today!
Listing of the Week:
John Fullerton, Business Advisor with Transworld Business Advisors and Senior Real Estate Broker for Transworld Commercial Real Estate Omaha, LLC, is selling the premier construction-related specialty niche business in Omaha. For $3 million, the buyer will benefit from a roster of satisfied and loyal clients who turn to this business for its specialized services, fostering enduring relationships and repeat business. Real estate is also available for the purchase price of $1.6 million.
Email John at jfullerton@tworld.com or call him on (402)-213-9945.
Key Points From This Episode:
• [00:00] Positive correlations between Transworld stats and the BizBuySell Insight Report.
• [01:49] How small business acquisitions in Q1 of 2024 grew 10% over the previous year.
• [02:59] Ways that buyers normalized interest rates in 2023.
• [04:16] One of the most surprising industries experiencing growth in business sales.
• [06:39] Significant costs that many small businesses are struggling with right now.
• [07:28] A controversial trend that is easing pressure on rising wage costs.
• [08:49] The extraordinary impact of AI on small business performance.
• [11:01] Exciting trends in retail acquisitions and what they suggest about the market.
• [12:47] Signs of distress for service-based businesses, manufacturing, and other industries.
• [14:01] Opportunities for buyers and sellers in what’s shaping up to be a robust market.
• [18:14] Listing of The Week: John Fullerton (Omaha South) offers buyers a unique opportunity to acquire a premier construction-related specialty niche business for $3M.
• [20:11] Deal of The Week: Adam Lawson (Orlando) shares his deal on an established pizza parlor in Central Florida, sold by an Italian restauranteur who has been in the industry for 52 years!
Links Mentioned in Today’s Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
The Deal Board on LinkedIn
The Deal Board on Facebook
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us on (888) 719-9098
Email us at thedealboard@tworld.com
BizBuySell Insight Report
Ep 167: Leveraging AI for Buying and Selling Businesses
Ep 159: Artificial Intelligence: A Game Changer
Ep 168: Seller Story: A Full-Circle Entrepreneurial Journey
Email Adam Lawson at alawson@tworld.com or call him on (407)-893-1627
#thedealboard #transworldbusinessadvisors #realestate #commercial
Quotes:
“The most positive thing – is that [business acquisition] is 3% up over Q4. Usually, Q4 is typically a stronger quarter than Q1. [It reflects] that there’s a demand for business acquisitions.” — Jessica Fialkovich [0:02:09]
“[An] uptick in [retail acquisitions] suggests that more sellers are motivated to close deals.” — Andy Cagnetta [0:11:31]
“If you’re a business owner [with] a well-managed business, strong financials, and you’ve positioned your profit and cashflow favorably, you’re going to see a high demand for your business in 2024.” — Jessica Fialkovich [0:16:17]
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they have the opportunity to feature a past business owner who worked with Transworld to review their entrepreneurial story from start to finish! Joining them is Laura Haftel from tugboat & the bird, a unique and high-end boutique that offers a curated selection of kids’ clothing, toys, gifts, and more. In this episode, Laura shares how she came to own a children’s boutique, how the decisions we make during economic downturns set us up for success in good times, and why she decided to retire after 22 years in the business. You’ll also find out where the name came from, how to distinguish between noise and useful feedback about your business, why the customer experience is so crucial, and so much more!
Listing of the Week:
Brian Martin from Transworld Business Advisors of Dallas Fort Worth Central is selling a pizza franchise with good brand recognition in North Collin County, Texas. A buyer will likely need a $250,000 cash down payment to close the deal, along with some available bank or seller financing. Email Brian Martin at bmartin@tworld.com or call him on (214)695-1223.
Key Points From This Episode:
• [03:58] What led Laura to become a store owner after being a buyer for Macy’s and the Gap.
• [07:23] A valuable lesson on protecting your assets and income when the market is down.
• [08:52] How Laura’s business adapted and innovated in response to COVID-19.
• [14:05] Where the name, tugboat & the bird, came from and what the boutique was like when she bought it from the original owners.
• [16:50] When to tune out the noise and when to take on valuable feedback.
• [17:36] Insight into why Laura decided to retire after meeting her initial goals.
• [21:38] A glimpse at the future: what’s next for Laura after 22 years at tugboat & the bird?
• [22:57] Why providing shoppers with “the right experience” is so valuable.
• [24:00] Laura’s practical, why-focused advice for aspiring entrepreneurs.
• [26:02] Deal of the Week: How Tina Wright, Owner and President of Transworld Business Advisors of Raleigh, walked the owner of a traffic equipment distribution company through the sale of his business and provided him with the support he needed.
• [28:45] Listing of the Week: Brian Martin (Dallas Fort Worth Central) is selling a pizza shop in North Collin County, Texas. Interested buyers should have a $250,000 cash down payment, plus available bank or seller financing.
Links Mentioned in Today’s Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
The Deal Board on LinkedIn
The Deal Board on Facebook
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us on (888) 719-9098
Email us at thedealboard@tworld.com
Laura Haftel on LinkedIn
tugboat & the bird
tugboat & the bird on Instagram
tugboat & the bird on Facebook
The Little Book of Bull Moves in Bear Markets
Email Tina Wright on twright@tworld.com or call her on (919)-605-2854
Email Brian Martin at bmartin@tworld.com or call him on (214)695-1223
#thedealboard #transworldbusinessadvisors #realestate #commercial
Quotes:
“[The] theory that I always have [is to] just keep your shelves stocked and be better than anybody else. People are always going to want to spend money on their kids.” — Laura Haftel [0:12:45]
“When you’ve got a small, local, family-owned business, there’s just nothing like it – People still want to come in, they want to have an experience, – they want to touch and feel the product. – If you provide the right experience, I don’t think there’s anything that will ever take [its place].” — Laura Haftel [0:23:18]
“You have to be really confident in what you’re doing. If you want to go into business for yourself, your idea has to be unique and different – Who is your competition? How are you going to do it better?” — Laura Haftel [0:24:36]
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they discuss how AI can best benefit buyers and sellers. Their guest, Josh Levine, from Private Market Labs, shares his expertise in helping clients take advantage of new technologies to present businesses for sale, assist buyers in the process of looking for the ideal company, and identify great business opportunities.
Listing of the week: Brian Martin (Dallas) is selling a company that started in the 1980s. This enterprise software for club management has over 100 customers and runs over $2 million in customer transactions. The listing price is $3 million. Email Brian at bmartin@tworld.com or call (214) 695-1223.
Key takeaways:
[1:44] Ask Chat GPT to write you an intro letter as a buyer and a profile.
[3:50] Your website needs to be updated; Jasper AI can help you improve that content.
[5:54] To find the kind of businesses you are looking for, for example, you can ask Chat GPT: What type of business should I buy if I like to be outdoors?
[9:39] You can use AI and some research tools to identify opportunities in your industry.
[11:17] You no longer have to take meeting notes; AI can do it for you.
[14:00] Deal of the week: Eric Mendelsohn (New York) sold an auto body shop in New Jersey dedicated to the repair of classic cars. This deal included Real Estate. The seller was ready to retire, and the buyer was from the same field.
[18:20] Josh Levine from Private Market Labs joins the conversation about AI supporting your business.
[19:05] Josh introduces himself and Private Market Labs.
[21:01] Josh shares how he got into this business.
[24:30] Josh explains how Private Market Labs helps clean data.
[26:40] Josh talks about the newest technology that is coming in the near future.
[30:05] Josh shares his perspective regarding the investment space.
[31:14] What is the best way for a buyer to engage?
[35:25] Josh talks about their podcast, Private Market Insights.
[37:46] Listing of the week: Brian Martin (Dallas) is selling a company that started in the ’80s. This enterprise software for club management has over 100 customers. This company runs over $2 million in customer transactions. The listing price is $3 million.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Eric Mendelsohn at (516) 840-3516 or email emendelsohn@tworld.com.
Email Brian at bmartin@tworld.com or call (214)695-1223.
Find Josh Levine on Linkedin.
Tweetables:
“Having a good buyer profile will save you a lot of money.” #thedealboard #transworldbusinessadvisors #AI #buy #sell #business
“You no longer have to take meeting notes; AI can do it for you. It’s a huge time saver!” #thedealboard #transworldbusinessadvisors #AI #buy #sell #business
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they discuss the main reason businesses fail to sell: overpricing. Pricing your business can sometimes be emotional; it is usually subjective, but today, Andy and Jessica address objective evidence, numbers, statistics, and research they have done over the years while they guided thousands of sales. Listen to this episode and discover why overpricing a business is the most common way to prevent it from selling.
Listing of the week: Julie Barlow (Dallas) just listed a business for anyone interested in the fitness and wellness industry, personal training, or helping people be healthy and fit. Julie sells a franchised fitness studio with a great location. The business is priced at $50,000 ($100,000 in paid equipment is already there!). Call Julie at (817) 556- 7534 or email her at jbarlow@stworld.com.
Key takeaways:
[3:52] Reason No.1 why an overpriced business won’t sell: Educated Buyers
[8:13] Jessica explains the profile of most business buyers.
[8:37] Selling a business is a process.
[9:32] Reason No.2 why an overpriced business won’t sell: The culture is changing
[11:56] The chances of negotiating are now less frequent.
[12:38] Reason No.3 why an overpriced business won’t sell: There is no tolerance for what is considered unreasonable
[16:20] Reason No.4 why an overpriced business won’t sell: Care for the first impression
[17:16:] Reason No.5 why an overpriced business won’t sell: Buyers have a fear of offending the sellers
[22:50] Andy and Jessica discuss how businesses are sold once they are pulled out of the market to be later introduced with a better price (with slim margins!)
[26:30] Jessica shares a valuable example.
[28:29] You can’t rely on your intuition; consult with Transworld Business Advisors to know the right price for your business.
[29:30] Deal of the week: Linda Boswell (Dallas) shares a heartwarming story! She sold a blow-dry bar right before bankruptcy.
[32:30] Listing of the week: Julie Barlow (Dallas) sells a franchised fitness studio with a great location. The business is priced at $50,000 ($100,000 in paid equipment is already there!).
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Linda Boswell at (817)755-1026 or email lboswell@tworld.com
Call Julie Barlow at (817) 556- 7534 or email her at jbarlow@stworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they are discussing a recurrent and always important topic: valuation. Reaching an accurate value for their business is the primary concern of many business owners, and is a crucial element to consider while thinking about exiting a business.
In this conversation, Andy and Jessica dive deep into add-backs and share their expert advice to use them favorably for your valuation process.
Listing of the week: Aaron Wills is selling an HVAC company that has been in business for more than two decades The real estate is owned by the business and it has two income-producing properties. The asking price is $800,000 for the business and the real estate is just over $1 million. Call Aaron (817)725-7221 or email awills@tworld.com.
Key takeaways:
[1:25] How much money does your business make?
[1:47] Jessica discusses the two earning amounts you should consider while starting a valuation: EBITDA and SDE.
[3:10] Different ways of minimizing your earnings to pay less taxes.
[4:18] Transworld’s philosophy is a little conservative, and Jessica and Andy explain why.
[7:31] Things that, by definition, are add-backs: The first one is INTEREST.
[8:04] TAXES
[9:12] APPRECIATION/AMORTIZATION
[10:36] OFFICER SALARY (one)
[11:11] W2 SALARY
[11:40] OWNER PERKS
[13:52] TELEPHONE and CELL PHONE EXPENSES
[15:32] REAL ESTATE
[19:34] PAYROLL
[20:40] DONATIONS
[21:32] DUES and SUBSCRIPTIONS
[22:45] BAD DEBT
[23:40] ONE-TIME NON-RECURRING EXPENSES
[24:51] LOSING or ADDING A BIG CUSTOMER
[25:42] EQUIPMENT LEASES
[26:07] PENALTIES
[26:34] Check large numbers!
[27:15] Jessica discusses adding personal expenses.
[33:30] Deal of the week: Daren Bucklin (Portland) sold a vocational school that has been in business since 2008, training front-line caregivers. The company was sold to a large University looking forward to expanding, for $900,000.
[35:26] Listing of the week: Aaron Wills is selling an HBAC company that has been in business for more than two decades The real estate is owned by the business and it has two income-producing properties. The asking price is $800,000 for the business and the real estate is just over $1 million.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Daren Bucklin at (503) 820-0063 or email dbucklin@tworld.com
Call Aaron Wills at (817) 725-7221 or email awills@tworld.com
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they interviewed Transworld’s business advisor, Diamond Performers. With their successful deals and large commissions in 2023, they earned a lot of money, and they share how they did it, their tricks, expertise, and hard work that helped them achieve these outstanding results.
Listing of the week: Beth Chea (Boston) sells a franchise sandwich shop in the New England Market. The shop has other locations in Maine and New Hampshire. The asking price is $1,050,000. Email Beth at bchea@tworld.com.
Key takeaways:
[4:55] What does it take to be successful? Bobbi Coffey (Houston) shares her perspective.
[7:45] Steve Merrit (Texas) talks about his first deal: what he learned from it and how it affected his career.
[11:02] Austin Zhao talks about how he earned the greatest commission.
[17:59] Bobbi shares the key to her success as a broker: Always be looking to improve!
[21:36] Steve shares how he approaches sellers and buyers about valuation.
[25:40] Regarding due diligence, Austin shares the most important thing to look for from a brokerage perspective.
[29:24] Quick lighting round of tips for business owners who are thinking of exiting their businesses this year.
[31:49] Deal of the week: Aaron Wills (Dallas, Fort Worth Central) sold a window glassing company. The owner was 82 years old and was a resident in an assisted living facility. It was the last thing he had with his wife, who passed years ago. The business was sold for $125,000. The buyer was a customer who had a vertical business in window repair.
[34:55] What got Gary Goldwasser into the business brokerage business?
[35:50] Tom Jones shares how he started in the business brokerage field.
[38:26] Gary shares the story of his first deal.
[40:01] Tom talks about how he decided to move from North Carolina to Florida.
[42:13] Tom discloses the key to his success.
[44:18] What has changed for Tom since his beginning at Transworld?
[46:51] Gary talks about technology as a great tool to promote brokers’ growth and scaling.
[48:33] Gary emphasizes the importance of education.
[49:42] Tom has always been skillful in dealing with people inside of a deal; he shares the main aspects to consider while in a business transaction.
[52:02] Patience is a vital characteristic of a great broker.
[52:30] Gary and Tom advise new brokers.
[56:22] Listing of the week: Beth Chea (Boston) sells a franchise sandwich shop in the New England Market. The shop has other locations in Maine and New Hampshire. The asking price is $1,050,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098.
Email us thedealboard@tworld.com.
Email Aaron Wills at awill@tworld.com or call (817) 725-7221.
Email Beth Chea at bchea@tworld.com
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they welcome JT Tatem to discuss the importance of goal setting. This year is the fourth time that JT has joined the podcast to share his knowledge on the fantastic art of goal-getting! Learn how to reach your goals by following the actionable steps JT outlines in this conversation.
Listing of the week: Ryan Eastwood (Texas) is selling an Industry Leading Meat Company. The owner has been operating it for two years—fully owner absentee. The selling price is $5 million. The SDE is about $250,000. Reach out to Ryan at ryaneastwood@tworld.com.
Key takeaways:
[2:40] If you spend so much time planning for a vacation, why wouldn’t you do the same with your personal and business goals?
[3:52] JT summarizes what he has been discussing regarding goal setting.
[6:08] The 8 Ws. Firstly, Write down your goal.
[7:14] Why do I want to pursue this particular goal?
[7:40] Where are the obstacles going to be?
[7:56] What must I learn to help me achieve my goal?
[8:11] Who can help me get the goal done?
[8:22] The Way: Describe your steps to reach your goal.
[8:37] When am I expecting to accomplish my goal?
[8:52] Work!
[12:30] JT exemplifies how to use the 8Ws.
[18:04] Whatever amount you think it will take to reach your goal, add 20%. (It never takes as little as you want it to.)
[20:20] Add the steps you must commit to reach your goal to your calendar and then do those tasks on time.
[22:17] Begin with the end in mind.
[25:16] Comparative analysis: What is more important to you?
[32:35] Have milestones set along the way, and when you achieve them, celebrate!
[34:37] Deal of the week: Paul J Vento (Union Middlesex County, New Jersey) just sold an Italian restaurant. The business was sold for $725,000. Good deals for good people!
[41:40] Listing of the week: Ryan Eastwood (Texas) is selling a custom beef company. The owner has been operating it for two years—fully owner absentee. The selling price is $5 million. The SDE is about $250,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Learn more about JT Tatem.
Listen to “2022: Goal Setting”, “Business Goals for 2021”, and “Setting and Executing Your Goals”.
Contact Paul Vento at paulvento@tworld.com or call (973) 568-4723.
Reach out to Ryan Eastwood at ryaneastwood@tworld.com
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they are joined by an amazing young couple who share their inspiring entrepreneurial journey, hoping to motivate others to follow their dreams and pursue their business goals. A genuinely inspiring business story filled with actionable advice.
Listing of the week: Iain Mackie (Vancouver, Washington) is selling a truck-mounted heavy equipment manufacturer. The company offers three designs, which he owns. This business can provide road maintenance to anyone. This company needs an investment in marketing to scale its profits. Asking price $680,000. Email Iani at iainmackie@tworld.com or call (360) 921- 8942
Key takeaways:
[1:29] Sam and Ray Taylor are recurrent Transworld clients; they grew and brought each company they owned to the next level.
[10:00] Deal of the week: Solomon Padilla (Atlanta Peachtree) just closed an excellent deal on a healthcare company. The selling process took 14 months to work on some challenging matters, including the IRS, two banks, and six attorneys. The buyer had a business in the same industry. The asking price was $2.7 million, and the selling price was $3 million.
[15:26] Sam and Ray Taylor join Andrew.
[15:49] Ray shares how their entrepreneurial career started.
[16:57] What was Ray’s first business? A lawn maintenance company that started during his teen years.
[18:01] Ray describes how they sold their first business.
[20:30] Sam is really the secret weapon!
[21:05] How did they build their second business?
[24:50] When Ray no longer feels challenged, he moves on to the next business, which is why he is commonly known as a serial entrepreneur.
[26:54] One year later, they sold their Tree Business for $1.6 million (3 and ½ years ago).
[27:44] They recently sold a site development company for $ 3.5 million.
[30:05] The most crucial aspect is that Sam and Ray kept close contact with their business broker, John, throughout the years, doing business evaluations along the way.
[32:09] Sam and Ray advise those starting their own business.
[35:27] Your business broker will remain with you during the deal transition and after the closing; this relationship really matters.
[36:59] Listing of the week: Iain Mackie (Vancouver, Washington) is selling a truck-mounted heavy equipment manufacturer. The company offers three designs, which he owns. This business can provide road maintenance to anyone. This company needs an investment in marketing in order to really scale its profits. Asking price $680,000. Email Iain at iainmackie@tworld.com or call (360) 921- 8942.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Solomon Padilla at (770)766 9855.
Email Iain Mackie at iainmackie@tworld.com or call (360) 921- 8942.
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they discuss the top reasons people start businesses in each state; this information came from one unique Newsletter Andy received from VisualCapitalist.com, which shared a fantastic infographic representing this fascinating information for entrepreneurs.
Listing of the week: Michael Whitesel (Portland) is selling a doggy self-wash, which has been in business for twenty years. They have separate areas for grooming and washing and six stations for each. There are no waiting lines — plenty of parking. Owners are ready to retire. Email Michael at mwhitesel@tworld.com or call (503) 522-5708.
Key takeaways:
[3:38] Reason No. 1: Flexible hours (Colorado, Washington, and Oregon).
[6:53] Reason No. 2: Wanting greater income (Nevada, Arizona, Texas, Kansas, Nebraska, Idaho, Illinois, North Dakota, Minnesota, New Jersey, New Hampshire, Florida, and Alabama).
[10:46] Reason No. 3: Balance work and family (Utah, Idaho, Montana, Oklahoma, Arkansas, North and South Carolina).
[12:45] Reason No. 4: Carry on the family business (Wisconsin, Indiana, West Virginia, Ohio, Pennsylvania, Maine, Louisiana, and Alaska).
[15:55] Reason No. 5: Innovation (Virginia, New England, California, Georgia, New Mexico, and Washington DC).
[17:59] Reason No. 6: Family or friend role model (Michigan, Kentucky, Tennessee, Mississippi, and South Dakota).
[20:27] Reason No. 7: Can’t find a job (New York and Delaware).
[25:15] Deal of the week: Jason Blair (Portland) just sold an event center to a strategic buyer who owns a little tea shop, received many inquiries about events, and wanted another facility. The sale was $140,000.
[27:04] Listing of the week: Michael Whitesel (Portland) is selling a doggy self-wash, which has been in business for twenty years. Owners are ready to retire.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Check the infograph Why Do People Start Businesses in Every U.S. State?
Email Jason Blair at jblair@tworld.com or call (763) 269-1979.
Email Michael Whitesel at mwhitesel@tworld.com or call (503) 522-5708
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they discuss what it takes to be an entrepreneur while unpacking the meaning of “working hard.” They describe the hard work an entrepreneur needs to do to succeed. Everyone’s business path is different but Andy and Jessica share today some tactical habits in order to succeed while running a business.
Listing of the week: Dan Walkowski (Portland) just listed a new Dog Groomer located in a small part of town, which has done a great job serving the neighborhood. The owner has been running the business for around three years and is ready to retire. The business is listed at $357,000. They make $150,000 of profit every year. Contact Dan through dwalkowski@tworld.com or call him at (503)880-8970.
Key takeaways:
[2:57] Habit #1: Long Hours.
[7:27] Habit #2: Constant learning is a must.
[9:43] Habit #3: Adaptability.
[12:40] Habit #4: Have a strong work ethic.
[16:50] Habit #5: Have persistence.
[20:24] Habit #6: Pay attention to the details.
[22:33] Habit #7: Delegate and collaborate with others.
[23:38] Habit #8: Sacrifice!
[29:50] Deal of the week: JT Tatem (North Carolina) just sold a Day SPA through an SBA. The business was listed at $650,000, and SDE was almost $300,000. The business was sold at full price offer.
[31:06] Listing of the week: Dan Walkowski (Portland) just listed a new Dog Groomer located in a small part of town. The business is listed at $357,000. They make $150,000 of profit every year.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Contact JT Tatem at jttatem@tworld.com or call him at (8640311-8998.
Email Dan Walkowski at dwalkowski@tworld.com or call him at (503)880-8970
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they discuss Artificial Intelligence and its impact on the business world. Have you ever wondered how AI will affect small and mid-size businesses? Listen to this thoughtful conversation about this innovation, and get ready; the future is here!
From Body Vision Medical, David Webster shares his expert perspective from the medical realm. Michael Shea also joins the conversation and compares AI today to the early days of the internet.
Listing of the week: Dan Walkowski (Portland) is selling an outdoor store that has been running since 1945. The owners are ready to retire. The current price is $1.5 million. The business generates around $140,000 cash flow, and inventory is included in the price. The warehouse is 1,400 square feet and consists of two floors. Great potential to grow via e-commerce! Email Dan at dwalkowski@tworld.com or call (503) 880-8970
Key takeaways:
[4:12] Deal of the week: John Fullerton (Omaha) just sold a Veterinary Clinic owned by a sole practitioner who was running the business. This transaction became a stock sale from an asset type of deal. This is a small transaction of $200,000, and he saved more than $20,000 by making this into a stock transaction. Call John (402) 213 9945 or email jfullerton@tworld.com.
[8:30] Michael Shea and David Webster (Body Vision Medical) share expert advice.
[9:48] David introduces himself and explains his involvement in medical devices and AI.
[11:40] What is the first way AI influenced the technical medical space?
[12:25] David discusses polymath.
[13:56] AI will assist humans in four areas: Data Analytics, Personal Medicine, Health Operations and Resource Management, and Robot assistance.
[17:50] David gives an example of how AI improves the medical industry.
[21:29] What are the major business-level problems that AI is going to help resolve?
[24:04] How would AI and its use help leverage and control resource allocation in healthcare?
[28:05] Have you thought about what your career would look like in 20 years?
[31:22] Technology will make us more efficient as operators, more profitable as a business, and greatly assist in resource allocation.
[32:50] Play with AI; it learns more as you interact with it.
[33:40] How do I even start using AI?
[39:44] Use AI to capture the data your business needs to succeed.
[41:40] Start today utilizing AI’s new tools; this will pull your business ahead and leave others behind.
[43:01] Listing of the week: Dan Walkowski (Portland) is selling an outdoor store that has been running since 1945. The owners are ready to retire. The current price is $1.5 million. The business generates around $140,000 cash flow, and inventory is included in the price. The warehouse is 1,400 square feet and consists of two floors. Great potential to grow via e-commerce!
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call John Fullerton at (402) 213 9945 or email jfullerton@tworld.com.
Call Michael Shea at (407) 745-0466 or email him at mike@tworld.com;
Learn more about David Webster.
Body Vision Medical.
Email Dan Walkowski at dwalkowski@tworld.com or call (503) 880-8970.
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they follow up on episode 156 with the second part of the top ten negotiation strategies you must know. They describe how to use the most effective techniques to communicate with clients and achieve the results you are seeking.
Listing of the week: Anthony O'Neil (Bellingham) has a unique listing; he sells a 51-key hotel on the main highway in Cowlitz County, Washington, priced at $8.6 million. Contact Anthony at aoneil@tworld.com or call him at (206) 226-3430.
Key takeaways:
[1:08] Strategy #1: Mirroring or labeling.
[2:47] Jessica shares when she uses mirroring by synchronizing her breathing with the client’s pace.
[3:43] Labeling is essential when you are in a negotiation.
[5:56] Strategy #2: Sometimes, you need to go deeper into the organization or try to find another negotiator.
[10:38] Strategy #3: Smaller concessions.
[12:15] Strategy #4: Uneven numbers make the negotiation look more authentic.
[14:19] Someone must be the weakest link in the deal.
[15:08] If you can’t get a concession, get a promise instead.
[17:50] Strategy #5: You don’t matter; you must show empathy for the other party.
[22:25] Deal of the week: Jennifer and Ryan Armstrong (Phoenix) sold an electrical company that was in business for 30 years.
[23:57] Listing of the week: Anthony O'Neil (Bellingham) has a unique listing; he sells a 51-key hotel on the main highway in Cowlitz County, Washington, priced at $8.6 million. Contact Anthony at aoneil@tworld.com or call him at (206) 226-3430.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Listen to Negotiation Strategies You Must Know (Part 1)
Contact Jennifer and Ryan Armstrong at transworld.com/phoenix or call (760) 802-7945 or email rarmstrong@tworld.com
Contact Anthony O’Neil at aoneil@tworld.com or call him at (206) 226-3430
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they record from the Bahamas, chilling and relaxing while discussing how to help Baby Boomers understand what it takes to retire; for that, they bring the tales from the experience of Transworld Business Advisor’s best franchisees.
Listing of the week: JT Tatem is selling a signage business that has been running for over ten years; it is a great owner-operating model. The company makes almost $2 million in annual revenue, and nearly $300,000 is SDE. It is listed at $975,000. The business has a great location and a fantastic reputation and brand! Call JT at (864) 315-8998 or email at jt1@tworld.com.
Key takeaways:
[3:12] Seventy-five trillion dollars will be transferred from Baby Boomers to the Xers and the Millennials.
[5:32] In the next 5 to 10 years, all Baby Boomers will have to retire, and these businesses will have to be sold or transferred.
[7:26] Many Gen Xers and Millennials want to buy a business.
[7:42] Baby Boomers, be aware it might get harder to sell your business.
[9:40] Get prepared; it takes time to sell your business.
[14:19] Aaron Fox (Boston) shares a very personal story.
[17:02] First, any seller should know why he is selling.
[18:30] Michael Berry (Indiana) shares a retirement story with the audience.
[20:03] Bill Kleinschrodt (Gold Coast, Alabama) tells the story of selling for retirement.
[23:41] Bob Kelliher (Central and Western Washington) shares a story about someone he helped retire.
[27:08] Deal of the week: Blake Hickman (Raleigh) sold a $2.3 million e-commerce tactical gear business.
[29:11] Jennifer Fox (Boston) brings a couple of successful retirement stories.
[32:05] Johanne Sharp Sermania (Philadelphia Mainline) shares on a recent closing that helped clients retire.
[34:47] Jonathan Choe (Oregon Central) talks about retirement.
[38:00] Nick Mastrodicasa (Alaska) talks about how he helps people retire.
[40:06] Rupesh Bharad (Virginia) shares his favorite retirement story so far.
[43:23] Tony Khoury (Eastern North Carolina) shares a story about someone who thought his business was worth nothing.
[45:50] Listing of the week: JT Tatem is selling a signage business that has been running for over ten years; it is a great owner-operating model. The company makes almost $2 million in annual revenue, and nearly $300,000 is SDE. It is listed at $975,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Aaron Fox at (781) 773- 8922 or email aaron@tworld.com
Email Michael Berry at mike.berry@tworld.com or call (317) 564-4777.
Call Bill Kleinschrodt at (251)237-1030.
Call Bob Kelliher at (509) 558-7150 or email bkelliher@tworld.com
Call Blake Hickman at (919) 578-6360 or email him at bhickman@tworld.com
Call Jennifer Fox at (978) 286-8922 or email jfox@tworldma.com
Call Johanne Sharp Sermania at (610) 783-3555 or email jsharp@tworld.com
Call Jonathan Choe at (541) 213-0234 or email him at jchoe@tworld.com
Call Nick Mastrodicasa at (907) 529-2403 or email him at nickm@tworld.com
Call Rupesh Bharad at (804) 835-6363 or email him at rupesh@tworld.com
Call Tony Khoury at (252) 347-9606 or email him at tkhoury@tworld.com
Call JT Tatem at (864) 315-8998 or email at jt1@tworld.com
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they are discussing the best negotiation strategies they have learned over the years. Andy has taught negotiation tactics for almost two decades to people in the business brokerage field and contractors, inspectors, high schoolers, and nonprofit executives. Andy and Jessica share the most interesting business examples, showing how to apply these strategies and the benefits resulting from their usage and detriment when ignoring them. Stay tuned for the second part of this conversation with five more invaluable strategies you will immediately incorporate into your personal and professional practice.
Listing of the week: JT Tatem (South Carolina) sells a Home Health Care business located in Greenville. The listing price is $2.1 million. This company has $1.8 million annual revenue. Husband and wife started it 4 years ago and it now has 35 caregivers plus an office manager. Medicaid just increased its budget and handles checks to this business every single Friday. Buyers don’t need a healthcare background. Find more about this amazing opportunity; call JT Tatem. (864) 315-8998 or email him at jttatem@tworld.com.
Key takeaways:
[4:29] Negotiation Strategy #1: Shut up! Or Listen 80% of the time.
[8:04] Negotiation Strategy #2: The extreme anchor.
[10:28] Negotiation Strategy #3: The flinch.
[15:16] Negotiation Strategy #4: Feed the ego.
[19:06] Negotiation Strategy #5: Be professional.
[21:31] Hire an intermediate if you want to remove yourself from the negotiation to make sure you won’t become emotional.
[22:42] Deal of the week: Matt Manavi (Orange County, California) shares how he sold an HVAC in the most interesting way. Buyers paid $5.25 million upfront, all cash.
[26:01] Listing of the week: JT Tatem (South Carolina) sells a Home Health Care business in Greenville. The listing price is $2.1 million and has $1.8 million annual revenue. Husband and wife started this company 4 years ago; it now has 35 caregivers plus an office manager.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Never Split the Difference: Negotiating As If Your Life Depended On It, by Chris Voss
Reach out to Matt Manavi at mmanavi@tworld.com or visit tworld/orange
Call JT Tatem. (864) 315-8998 or email him at jttatem@tworld.com
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Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they are discussing the huge post-pandemic recovery that has been evident in the United States, and they are contrasting and comparing with some of Transworld's franchisees overseas to see how their journey in rebuilding their economies has been. Listing of the week: Greg Torgeson (Alaska) is selling a mechanical contractor for HVAC with 6.5 million dollars in sales, 1 million dollars in SDE, and 2 million dollars in Real estate, and it is listed for 6.9 million dollars. This business works in residential and commercial areas and has been in business for 30 years. Email Greg at gregt@tworld.com or call (907) 854-0543.
Key takeaways: [5:43] Ahmad Ibrahim (UAE) shares how great their new office is doing. [7:04] One million in sales in less than one year and 300 million dollars in listings. [7:55] What is currently happening in Dubai’s economy? [9:45] Ahmad receives international buyers. [12:03] Ahmad and Andy agree on Transworld’s Dubai office's immense potential. [13:26] Luis Victoria (Puerto Rico) shares his background and how he became interested in Transworld. [15:57] Luis discusses the opportunities he has seen in Puerto Rico. [17:28] What value does Luis look to provide to the local Puerto Rican economy? [24:23] Deal of the week: Ahmad Ibrahim (UAE Dubai) closed their first deal in record time (less than four weeks)! Ahmad sold a car garage, a business running for about seven years. The owner wanted to go back home since he wasn’t from Dubai, and the buyer had twenty years of experience working in the corporate world and was looking for an alternative job. [28:22] Andy welcomes the first international partner, Henry Ziff. [28:43] Henry shares news from the UK. [30:39] Mary Soldano (Fundex) is a partner from Transworld in the funding area. [33:29] Mary discusses the rules that have recently changed regarding SBA. [36:10] Mary addresses the changes in stock sales. [38:17] What kind of customers is Fundex looking for? [39:30] Are banks getting tougher with valuations? [42:48] Mary shares the deals they like to see at Fundex. [44:09] Mary talks about the near future for SBA loans. [45:25] Mary discusses the structure of her team at Fundex. [46:35] Fundex assures they will provide an answer in two days, whether positive or negative, regarding giving you a loan. [47:55] Sal Majzoub (Quebec) shares how dropping letters worked for his office and their continuous growth. [50:30] Miguel Nebot (Spain) shares his journey with Transworld Business Advisors. [53:08] What does Miguel see as the most significant opportunity for Transworld in Spain? [54:57] What is Miguel’s plan for his first year as a Transworld Business Advisor’s franchisee? [55:38] What impact could Miguel foresee Transworld have on the Spanish economy? [57:11] Miguel advises anyone in Spain looking to sell or buy a business. [59:33] Listing of the week: Greg Torgeson (Alaska) is selling a mechanical contractor for HVAC with 6.5 million dollars in sales, 1 million dollars in SDE, and 2 million dollars in Real estate, and it is listed for 6.9 million dollars.
Mentioned in this Episode: The Deal Board Podcast Subscribe to The Deal Board Podcast YouTube Channel United Franchise Group Transworld Business Advisors Transworld on Linkedin Transworld on Facebook Call us — (888) 719-9098. Email us thedealboard@tworld.com. Learn more about Ahmad Ibrahim and email him at aibrahim@tworld.com or call +971-52224-3924. Learn more about Luis Victoria and email him at lvictoria@tworld.com or call (939) 655-0607. Learn more about Henry Ziff. Learn more about Mary Soldano and email her at msoldano@fundexsolutions.com. Learn more about Sal Majzoub. Learn more about Miguel Nebot. Learn more about Greg Torgeson and email gregt@tworld.com or call (907) 854-0543
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they are going back to basics! You often hear them discussing the importance of keeping good books and records, but how do you do it?! Andy and Jessica share the most practical and essential tips for you to use in your administration, increasing the value of your business. At the same time, you maximize your profit, having a clear view of the progression of your endeavor, and, most importantly, you can prove it to potential clients!
Max Emma joins Andy and Jessica from BooXkeeping.com, who introduces his company, which helps customers keep their books every month. Also, if you are looking to purchase a business, this franchise is an outstanding opportunity. Greg Crabtree joins the conversation about bookkeeping, sharing his expertise; he is the author of Simple Numbers, Straight Talk, Big Profits!: 4 Keys to Unlock Your Business Potential, and the CEO of Crabtree, Rowe & Berger.
Listing of the week: Jonathan Choe (Oregon Central) is selling a roofing company priced at $1.5 million, with an SDE of $550,000. This company has been in business for more than 20 years. To learn more about this one-of-a-kind deal, call Jonathan at (541) 213-0324 or email jcchoe@tworld.com.
Key takeaways: [4:34] Max Emma from BooXkeeping.com introduces himself and his business. [7:08] Max discusses what companies should do to keep good books and records. [8:22] BooXkeeping makes it easier for you; Max explains how. [12:57] Some businesses’ Quickbooks are far from the truth. [15:55] When you buy a business, hire a company to assist you in bookkeeping, and remember to start from zero, keep your files for the records, but don’t build upon them. [17:23] How do business owners interact with BooXkeeping regularly? [20:10] Max talks about the opportunity of buying a BooXkeeping franchise. [25:20] BooXkeeping does not charge any money for consultation; if you want to learn more about them, call them! [27:11] Deal of the week: Wendy Conway (St. Peters, Missouri) sold an automotive center three months after listing it; she had a contract on it, closing six months later at $1.3 million. Real Estate was included. The transaction was done through an SBA loan. [29:24] Jessica introduces Greg Crabtree. [30:20] Greg defines himself as a “Recovering accountant.” [32:55] Why are your numbers lying to you? (And why you are the cause?) [36:16] Once you are paying yourself as a business owner an adequate salary, you can start noticing the real financial state of your business. [41:06] Greg talks about how to simplify HR decisions for growth. [44:16] Greg explains the “baffle” concept. [52:59] Listing of the week: Jonathan Choe (Oregon Central) is selling a roofing company priced at $1.5 million, with an SDE of $550,000. This company has been in business for more than 20 years.
Mentioned in this Episode: The Deal Board Podcast Subscribe to The Deal Board Podcast YouTube Channel United Franchise Group Transworld Business Advisors Transworld on LinkedIn Transworld on Facebook Call us — (888) 719-9098. Email us thedealboard@tworld.com. BooXkeeping.com Call Wendy Conway at (636) 544-8422. Learn more about Greg Crabtree. Call Jonathan Choe at (541) 213- 0324 or email jcchoe@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are live from the Transworld 2023 Conference in Orlando, Florida, so get ready to feel the excitement in the overall atmosphere! There are several significant takeaways from this year’s conference; one is the recollection of these twelve years of Transworld Business Advisors, making evident the many aspects that can change in a business over the years (AI wasn’t even on the radar two years ago and we certainly don’t know how things will look in a couple more years).
The Transworld family was also accompanied by many banks to this fantastic event since, no matter the current interest rates, businesses are still being sold all over the U.S. (and the world)!
Key takeaways:
[3:57] Andy and Jessica share the highlights of the Transworld 2023 Conference in Orlando, Florida.
[7:02] What does “getting back to basics” really mean?
[13:21] Jessica talks about the evolution of the First Million Award.
[15:41] Andy and Jessica began to transmit from Orlando.
[16:41] JT Tatem talks about what Transworld looked like 13 years ago.
[20:36] What was different from watching others conducting their businesses versus doing it himself?
[25:17] What does JT Tatem see as things business owners don’t do and should be doing while launching their business?
[30:06] JT and Andy talk about planning, change, the speed of reaction, and the necessary flexibility as an entrepreneur.
[32:50] JT highlights the value of intention and advises not to lose your intensity.
[34:02] Deal of the week: Meili Myles (Utah) just sold a business that combines fine dining and outdoor adventure at a total price of $2.1M. This business has been in business for almost three decades.
[36:29] Jonathan Choe (Oregon Central) joins Andrew to discuss launching Transworld in a small area.
[39:30] Diane Hartz Warsoff, cofounder of Transworld Business Advisors in Utah County, Utah, shares her launch story.
[41:55] Steve Hanson (San Diego, Southern California) speaks of his launch story.
[45:33] Marc Lazarus, who has been with Transworld before it was even Transworld, shares his launch story.
[47:44] Bill Roland (Saint Louis) shares his launch story with Transworld after being a broker his entire life.
[50:16] Deal of the week: Wendy Conway (Saint Louis) sold an automotive center six months after listing for $1.3M; buyer and seller worked beautifully together. Real estate was included. An SBA loan was used for this purchase. Call Wendy at (636) 544- 8422.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call JT Tatem at (864) 315-8998 or email jt1@tworld.com
Call Meili Myles at (801) 707-1857 or email mmyles@tworld.com
Call Steve Hanson at (858) 699-3346 or email shanson@tworld.com
Call Wendy Conway at (636) 544- 8422
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are exploring for the first time a unique topic: How do you sell a business that does not make any money? Nonprofitable businesses are sold daily; many are just sold for the value of their assets and not at all for their income. Listen to this episode to learn the three different methods for business valuation and how each reflects different business models.
Listings of the week:
- Patrick Bombardiere (Colorado) is selling a home-based business that is entirely relocatable. The owner sells and distributes different products on Amazon. The owner sells a “plug and play” system with no employees. This business is listed at $275,000. It is SBA-prequalified. Email Patrick at patrick@tworld.com.
- Dustin Audet (Dallas) is selling a franchise children’s hair salon. The business is listed at $200,000; the SDE is $90,000. The owner only works in the business from two to 10 hours a week. Call Dustin at (970) 618-9330 or email daudet@tworld.com.
Key takeaways:
[1:40] Andy briefly introduces the three methods for valuation.
[6:16] There are more bad owners than bad businesses.
[8:37] Robert DiNozzi, Chief Growth Officer, Second Wind Consultants.
[9:57] Robert explains why great businesses could be over-leveraged for many reasons and how Second Wind Consultants assist them with the re-organization.
[11:14] What are some situations that a business owner must face in order to ask for the services of a consultant?
[13:22] An over-leveraged balance sheet creates an inability to bridge a gap.
[14:05] Robert explains how business reorganization works.
[16:21] How long does this business clean-up process take?
[17:17] Robert talks about the cases where the owner wants to stay in the business.
[18:28] Are there situations where Second Wind Consultants cannot help?
[20:01] Robert describes the process.
[21:57] Robert shares an example of a business.
[23:01] What is a merging cash advance?
[25:30] Robert shares his number one piece of advice: There are other ways to sell a business than just selling it in the traditional way.
[27:35] Listing of the week: Patrick Bombardiere (Colorado) is selling a home-based business, which is entirely relocatable. The owner sells and distributes different products on Amazon. The owner sells a “plug and play” system with no employees. This business is listed at $275,000. It is SBA-prequalified.
[30:44] Shelia Darby from BizWorth
[31:18] Shelia gives a little background about BizWorth.
[32:53] Shelia explains why her work is not just calculations.
[33:39] Andy and Shelia talk about the many factors that are involved in deciding what a business is worth.
[34:36] Shelia talks about how they approach valuation under the current economic world and its antecedents.
[36:59:] Shelia explains the three valuation methods.
[41:49] What does Shlia look at in an unprofitable business?
[43:15] Andy and Shelia discuss fair market value.
[46:25] Why does a business need a certified valuation?
[51:28] Listing of the week: Dustin Audet (Dallas) is selling a franchise children's hair salon. The business is listed at $200,000; the SDE is $90,000. The owner only works in the business from two to 10 hours a week. Call Dustin at (970) 618- 9330 or email daudet@tworld.com.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Second Wind Consultants
Call Robert Di Nozzi at 1-800-594-7473 or email him at rdinozzi@secondwingconsultants.com.
Email Patrick Bombardiere at patrick@tworld.com.
BizWorth
Call Dustin Audet at (970) 618- 9330 or email daudet@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast.
The first foray into entrepreneurship can be an overwhelming learning experience, but having well-defined processes, robust systems, and a supportive community becomes immensely invaluable. Moreover, entrepreneurs can also consider acquiring a franchise as a second business, leveraging the opportunity to acquire invaluable operational insights that can be applied to future endeavors. This diversified approach enables business owners to broaden their skill sets and confidently navigate various industries. In this week's episode, they dive deep into the remarkable advantages of venturing into franchise ownership, particularly for those new to the dynamic business world.
Today’s podcast features two esteemed experts who shed light on the subject matter. First, we have Kathy Livingston, who shares her exceptional journey as a franchisor with Oliver's Nannies — a genuinely unique business in its own right. Second joining this episode is Cory Hibbard, the president of Graze Craze, a highly successful catering service company that has experienced continuous expansion through franchising.
Tune in and gain insights from these seasoned professionals who are well-versed in the world of franchising.
Listing of the week: Christopher Cantwell (Las Vegas) is selling an award-winning subscription eCommerce Coffee Roasting business. Their revenue is $900,000, cash flow is at $259,000, and it is priced at $825,000. Call Chris Cantwell at (702)493-0095 or email chriscantwell@tworld.com.
Key takeaways:
[3:12] Jessica details the reasons why a franchise is an excellent idea for a first-time buyer.
[4:27] Andy explains how most franchises start.
[5:58] Jessica differentiates new, emerging, and established brands.
[8:05] There are opportunities for expansion as a franchisee.
[10:20] Andy shares the news about SBA loans for franchises.
[15:57] When acquiring a franchise, you join a family.
[17:29] Kathy Livingston, president and owner of Oliver’s Nannies, shares her story.
[19:11] Kathy explains how Oliver’s Nannies work.
[21:20] Kathy talks about the requirements and training of their nannies.
[22:50] Olver’s Nannies is a full-time job.
[25:22] Kathy talks about Oliver’s Nannies’s growth.
[32:27] Deal of the week: John Woodhull (Colorado) sold a design and build construction company located in Springs, Colorado that had been in business for 17 years.
[39:35] Cory Hibbard, president of Graze Craze, shares what he does.
[41:30] What is Graze Craze’s business model?
[43:40] Cory discusses what a franchisee can expect from Graze Craze.
[48:46] Who is an ideal franchisee for Graze Craze?
[50:47] What is next for Graze Craze?
[53:50] Listing of the week: Christopher Cantwell (Las Vegas) is selling an award-winning subscription eCommerce Coffee Roasting business. Their revenue is $900,000, cash flow is at $259.000, and it is priced at $825,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Graze Craze
Graze Craze Franchise
Call Graze Craze at (861) 646-6606
Oliver’s Nannies
Oliver’s Nannies Franchising
Email Kathy at Kathy.livingston@oliversnannies.com or call (973) 671-1277
Call John Woodhull at (720) 846-0948 hwoodhull@tworld.com
Call Chris Cantwell at (702) 493-0095 or email chriscantwell@tworld.com
Andy and Jessica welcome you to the 150th episode of The Deal Board Podcast. This week they are reflecting on the various topics they have been addressing since 2019, delivering statistics, trends, valuable information about buying and selling businesses, motivational speakers, goal-setting tutorials, and bringing the most interesting conversations with business experts worldwide.
Listing of the week: Joe Di Bartolo (West Florida) is selling an AC company that has been operating for almost 50 years, SDE around $300,000 per year, made $1.3 million in sales in 2022, and has seven employees. They have 900 maintenance contracts (80% residential, 20% commercial). Financing is available. Call Joe at (252) 999-1815.
Key takeaways:
[3:19] Ray Titus from United Franchise Group congratulates Jessica and Andrew.
[4:09] Ray talks about the changes Transworld experimented with in the last 4 years.
[7:29] Jessica shares the story of how The Deal Board Podcast began.
[10:50] Focus on your strengths rather than on what other people are doing.
[16:48] Deal of the week: Nathan Willis (Colorado) sold an environmental consulting firm. The listing price was $600,000, and the SDE was $200,000 in 2022.
[20:34] Bill Luce, President of Transworld Business Advisors, joins the celebration!
[23:08] Greg Nowak, Development Director at United Franchise Group.
[26:46] Greg talks about the benefits of buying through Transworld Business Advisors.
[30:18] Greg shares about Transworld’s open territory.
[32:31] Mariana Pasol, Director of Operations at Transworld, joins the conversation to celebrate its progress and growth.
[40:21] Listing of the week: Joe Di Bartolo (West Florida) is selling an AC company that has been operating for almost 50 years, SDE around $300,000 per year, made $1.3 million in sales in 2022, and has seven employees. They have 900 maintenance contracts.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Nathan Willis at nathan@tworld.com or call (303) 335-7126.
Visit Tworld Franchise
Call Joe Di Bartolo at (252) 999-1815.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are talking about the economy and economics, a certainly prevalent topic in 2023. Howard Yaruss and Barry Sloane accompany Andy and Jessica in today’s episode. Howard is a professor at NYU, author of Understandable Economics: Because Understanding Our Economy Is Easier Than You Think and More Important Than You Know (among others), and is addressing the economy while sharing his expertise in business brokerage and M&A business as well. Barry Sloane, President and CEO of Newtek Business Services Corp., talks about the economy and the newest expansion of Newtek.
Key takeaways:
[3:47] Howard Yaruss discusses understandable economics for buying and selling businesses.
[5:12] Howard explains where to start approaching economics.
[6:48] What is happening to the economy and interest rates?
[8:15] What is the goal of raising interest rates?
[10:30] How much could goods and services increase?
[11:37] Howard explains the influence of the relationship with China.
[13:58] Economics is more art than science.
[15:30] If you are a business owner, what are the critical economic principles you need to run or sell your business?
[20:01] Howard foresees the near future for small business owners.
[24:41] The lack of understanding of economics causes a lot of frustration and it enables politicians to exploit that ignorance.
[27:09] The internet offers a playing field that differs radically from what used to be.
[28:10] Deal of the week: James Lascano (West Florida) closed a great deal in home health care. The seller was an immigrant who started with nothing and ended by selling a multimillion-dollar business. Buyers were ready, and the seller was greatly organized with super clean books. The business was sold for $5.6 million.
[37:48] Barry Sloan (Newtek).
[38:56] Barry explains what Newtek does and the recent purchase of a bank.
[41:48] What opportunities are lying within today’s economic environment?
[45:24] How has the economic reality translated to small businesses?
[49:00] Barry explains why Newtek covers it all.
[50:17] Barry shares what he thinks will be the economic atmosphere by the end of 2023.
[56:00] Deal of the week: Patrick Bombardiere (Colorado) sold a kitchen and bathroom remodeling business whose owner also invented a customizable shower base (both businesses run together). A good deal for good people!
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Howard Yaruss at howardyaruss@gmail.com
Email James Lascano at james.lascano@tworld.com (727) 217- 5559
Visit Newtekone
Contact Patrick Bombardiere at
patrick@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they talk about the implications of buying a business in today’s interest rate environment. They also provide several strategies for looking for partners and negotiating terms under a different business dynamic.
Listing of the week: Tom Milana (Fort Lauderdale) is selling a Sailing boat company located in Saint Thomas, U.S. Virgin Islands. The company is operated by a husband and wife who have operated the company for 20 years. The price is $299,000, including one yacht and another vessel. The business is making $50,000 to $60,0000 in profit every year. Change your lifestyle! Contact Tom at Tom@tworld.com or call (754) 224-3118.
Key takeaways:
[1:51] Implication No 1: Getting and carrying a loan is more expensive.
[2:20] Implication No 2: Qualifying for a loan can be more difficult.
[3:10] Implication No 3: The terms can be shorter.
[3:26] Implication No 4: It affects seller financing too.
[5:23] People are getting used to these new interest rates.
[5:42] Jessica introduces the 1st strategy: Compare your different financing options.
[6:50] 2nd Strategy: Consider a variable amount rate loan.
[7:22] 3rd Strategy: It is sometimes possible to negotiate interest rates and payments.
[9:11] 4th Strategy: Use your retirement savings to purchase a business.
[10:50] 5th Strategy: Visit SBA.gov.
[12:35] 6th Strategy: Utilize loan brokers.
[13:48] 7th Strategy: Seek a business broker.
[15:04] Interest rates are where they should be.
[20:17] Deal of the week: Joe Di Bartolo (West Florida) sold a pool construction company, which has been in business for 25 years, with 90 employees, and is located in Tampa, Florida. The price was $20.75 million. The owners were ready to retire.
[22:24] John Wahl (Live Oak Bank) speaks of what is happening in the banking industry.
[25:47] John discusses what will happen in the next few months.
[30:22] Is it still an acquisition loan good to buy a business?
[34:58] What can sellers do in this environment to be more prepared for a transaction?
[37:55] What can buyers do to best prepare themselves for a deal in today’s economic environment?
[42:18] Listing of the week: Tom Milana (Fort Lauderdale) is selling a Sailing boat company located in Saint Thomas, U.S. Virgin Islands. The company is operated by a husband and wife who have operated the company for 20 years. The price is $299,000, including one yacht and another vessel. The business is making $50,000 to $60,0000 in profit every year.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Joe Di Bartolo at (352) 999-1815.
Call John Wahl at (303) 551-4453 or email him at johnwahl@liveoakbank.com.
Contact Tom Milana at Tom@tworld.com or call (754) 224-3118.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week they are accompanied by two of Transworld’s Real Estate partners to talk about how commercial real estate leads business brokerage and affects business sales now and in the future.
Andy and Jessica are joined today by Phil Kubat, who dives deep into how commercial real estate is now in the Rocky Mountains area, and Alan Kay, who shares his expertise in commercial deals.
Listing of the week: Jenny Abramson (Beverly Hills) is selling a highly reputable non-medical homecare agency; it is a franchise, so training will be provided by the franchisor and franchisee as well. The business has grown steadily for the last ten years with an impeccable reputation. The asking price is $2.1 million and the business made $2.8 million in revenue in 2022. Call Jenny at (424) 259-1248 or email her at jabramson@tworld.com
Key takeaways:
[3:57] Phil Kubat, an expert in commercial real estate, shares his perspective on the real estate market.
[7:32] Phil talks about the market rates at a national level.
[8:00] Phil shares about retail today.
[9:18] Jessica speaks of the Industrial market.
[11:06] Phil mentions important aspects of the current commercial marketplace.
[11:54] What advice does Phil have for commercial real estate sellers and buyers?
[13:53] Deal of the week: Scott Gorrill (Dallas Central Office) sold a deer corn manufacturer which started in 2015. The company makes $4 million in revenue and $500,000 in SDE. Books and records were super clean, which helped the buyer’s due diligence.
[17:35] Alan Kay, from Transworlds’s commercial division, shares how things have changed in the commercial real estate sector.
[18:52] Alan speaks of the effect of the high interest rates.
[20:10] What are some of the “big players” currently doing in the marketplace?
[21:46] What is happening in the office field?
[24:54] Alan talks about the retail space.
[27:55] Alan describes the beauty of SBA financing.
[29:16] Alan and Andrew discuss how interest rates impact retirement plans.
[30:04] Alan emphasizes the upside of investing in Real Estate.
[31:14] To negotiate with landlords is a challenging task, and Alan explains why.
[35:40] Andy affirms: “It is a great time to buy.”
[40:05] Listing of the week: Jenny Abramson (Beverly Hills) is selling a highly reputable non-medical homecare agency, it is a franchise, so training will be provided by the franchisor and franchisee as well. The business has grown steadily for the last ten years with an impeccable reputation. The asking price is $2.1 million and the business made $2.8 million in revenue in 2022.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Phil Kiubat at (303) 981-1936 or email him at phil@transworldcie.com.
Email Scott Gorrill at sgorrill@tworld.com or call him at (940)230-1280.
Email Alan Kay at 888ye@tworld.com.
Call Jenny Abramson at (424) 259-1248 or email her at jabramson@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they share the amazing news they got before the end of 2022 in the Business Brokerage Intermediary world. They have been working for the last 16 years to pass a law to prove the role of brokers and intermediaries in M&A transactions, called the Small Business Mergers and Acquisition Sales and Brokerage Simplification Act, and it has finally happened. In this episode, Andy and Jessica are approaching this matter with two experts, Mike Ertel and Shane Hansen, who are talking about how this law impacts small business owners and the business community at large.
Listings of the week:
- Chip Redmond (Central Florida) sells an embroidery shop, a really cool starter business. The listing price was originally $175,000, but now it is $140,000, and there is $90,000 in equipment. This one is a great business to grow! Contact Chip at chrisredmond@tworld.com or
call (321) 299-6867.
- Matt Nicoletti (Central Florida) is selling a Wine Bar retail store with a really lovely location on the beach, it has $151,000 in inventory, listed at $240,000. Email Matt at mnicoletti@tworld.com or call (860) 882-7228.
Key takeaways:
[4:15] Listing of the week: Chip Redmond (Central Florida) sells an embroidery shop, a really cool starter business. The listing price was originally $175,000, but now it is $140,000, and there is $90,000 in equipment. This one is a great business to grow!
[6:11] Mike Ertel and Shane Hansen briefly introduce who they are and what they do.
[8:06] Mike gives a little background on how they started to try to change the law.
[15:10] Jessica shares the excitement of watching the whole process of 16 years that it took to pass this bill.
[16:01] Andy gives a special shoutout to Jeff Taylor, who passed away during the process; his help was invaluable for this bill to pass.
[18:44] Shane talks about the exception of self-executers.
[24:40] Shane talks about the cases when the transaction is not in cash and securities must be issued by the buyer to the seller.
[28:85] Andy and Shane talk about the reasons for disqualifications.
[34:01] Mike clarifies the clause stating that the broker cannot provide the financing.
[35:34] Shane explains why much work still needs to be done.
[39:15] Is it OK to start as a stock sale?
[42:38] Mike explains that the real estate law is unchanged by this bill.
[47:43] Andy talks about the fundraising to pay these bills (biefoundation.org).
[54:33] Deal of the week: Michael Shea (Florida) sold a deli in under a week for $110,000, both buyer and seller were frustrated before meeting each other, but by following the process proposed by the broker, they finally closed a deal in record time.
[57:05] Listing of the week: Matt Nicoletti (Central Florida) is selling a WIne Bar retail store with a really lovely location on the beach; it has $151,000 in inventory; listed at $240,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Contact Chip Redmond at chrisredmond@tworld.com or call (321) 299-6867.
Call Michael Shea at (321) 287-0349 or email mike@tworld.com.
Email Matt Nicoletti at mnicoletti@tworld.com or call (860) 882-7228
Andy and Jessica, your hosts, want to welcome 2023 with this particular episode. 2022 was a record year for Transworld Business Advisors since the most considerable volume of businesses was sold last year (stay tuned for an episode that will resume the most important statistics). Andy and Jessica are hopeful about 2023, expecting a continuation of the amazing trends started in 2022 but also having under consideration the projected rise in interest rates and the impact it might cause. Today, they are joined by a special guest, JT Tatum, who is sharing his Eight Ws of go-getting and focusing on the tools to help you reach your biggest goals.
Listings of the week:
- Chip Redmond (Central Florida) is selling a national burger franchise in a local mall that has recently undergone significant improvements. The listing price is $170,000. Email Chip at chrisredmond@tworld.com or call (321) 299-6867.
- Matt Nicoletti is selling a medical-related business (hearing aids specialists) that has been in business for almost 30 years. The SDE is $167,000; asking for $475,000. Email Matt at mnicoletti@tworld.com or call (860) 882- 7228.
Key takeaways:
[5:56] Listing of the week: Chip Redmond (Central Florida) is selling a national burger franchise in a local mall that has recently undergone significant improvements. The listing price is $170,000. Email Chip at chrisredmond@tworld.com or call (321) 299-6867.
[7:07] JT Tatum joins Andy and Jessica to talk about 2023.
[8:54] The Eight Ws of go-getting.
[9:12] Write down what you wish to accomplish.
[9:25] Define Why you want to do it.
[9:47] Where are the obstacles going to be?
[10:00] What area do I need to be educated on to achieve the goal?
[10:14] Who can help me achieve my goal?
[10:25] What is the Way? Define your game plan.
[17:50] JT summarizes the first six steps.
[19:19] JT gives an example.
[23:33] Do: What has to get done? Who is going to do it? When is it going to be done?
[26:21] JT explains the pepperoni principle.
[27:38] Once you have a system, all you have to do is Work.
[28:39] What to do when you realize your goal is too big?
[29:09] What is a SMART goal?
[32:49] How do you prioritize your goals?
[39:55] Deal of the week: Michael Shea (Florida) sold a garage epoxy flooring and organization owned by an ex-pat and bought by a couple of Canadians who have taken the business to another level. The business was making $135,000. It was sold for $238,000, and it was listed for $250,000.
[42:55] Listing of the week: Matt Nicoletti is selling a medical-related business (hearing aids specialists) that has been in business for almost 30 years. The SDE is $167,000; asking for $475,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098.
Email us thedealboard@tworld.com
Email Chris Redmond at chrisredmond@tworld.com or call (321) 299-6867.
Email JT Tatum at jttatum@tworld.com or call (864) 315-8998.
Call Michael Shea at (321) 287-0349.
Email Matt Nicoletti at mnicoletti@tworld.com or call (860) 882- 7228.
Andy and Jessica want to share the fourth part of the series that tells Transworld Business Advisors’ story with the listeners. In today’s episode, they are talking about 12 years of franchising up to the present day. Andy and Jessica interview some Hall of Famers and some original franchisees that came on board before Transworld even was Transworld. You can’t miss this series on Transworld’s story, especially this fourth part that describes the fantastic global brand Transworld has grown into.
Listings of the week:
-
Johnathan Choe (Central Oregon) is selling a building materials business that has been operating for over 10 years; they own the real estate and do $12.5 million in revenue. They do $1.6 million in SDE. There are $600,000 in equipment and $2.7 million in inventory. The listing price is $4.5 million. The owner is ready to retire. Email Johnathan at jchoe@tworld.com or call (541) 920-9026.
-
Pam Vincent (DFW North Texas) is selling a live music cafe and bar located in a historical business in Dallas, with $2.5 million in real estate; the business is priced at $100,000. It will be SBA qualified. Email Pam at pvincent@tworld.com.
Key takeaways:
[5:40] Andy introduces four people who have been with the brand almost from the beginning: Karen Christensen, Marshall Pollock, Jessica Fialkovich, and Michael Berry.
[7:15] Karen joined Transworld even before it had its name; she shares her story.
[11:02] Michael talks about his perspective on Transworld’s growth from the state of Indiana.
[12:33] Marshall tells what he saw when he first met Transworld.
[16:11] Jessica has been with Transworld for almost 10 years; she talks about her journey.
[18:35] Andy shares his recollection of major events at Transworld.
[19:45] Marshall talks about the moment in his early years with Transworld when he realized this was going to be a successful enterprise.
[21:46] Mike shares the memories of the early days with Transworld.
[23:05] Andy shares his very special story with Karen….
[24:09] and Karen shares her memories of that moment.
[26:46] Jessica shares what she thought at the beginning when she entered Transworld and how her commitment grew ever since.
[28:30] 2013 and ’14 were difficult years.
[29:34] What does Michael see in the future for Transworld?
[31:41] Marshall shares what he is looking forward to in Transworld Business Advisors.
[33:15] Jessica states: “Our best years are ahead.”
[34:26] Karen gives a piece of advice for future franchisees on Transworld.
[37:10] Andy shows his appreciation to the four Hall of Famers who joined this episode.
[38:02] Listing of the week: Johnathan Choe (Central Oregon) is selling a building materials business that has been operating for over 10 years; they own the real estate and do $12.5 million in revenue. They do $1.6 million in SDE. There are $600,000 in equipment and $2.7 million in inventory. The listing price is $4.5 million. The owner is ready to retire.
[40:27] Andy welcomes the top franchisees Jon Roman from Atlanta, Aaron Fox from Massachusett, and Al Fialkovich.
[41:01] Jon shares how he got involved with Transworld.
[42:28] Aaron talks about why he got involved with Transworld.
[43:49] Al shares how he got involved with Transworld.
[46:41] Al met success with Transworld very fast.
[48:23] Jon tells what took him to be the best broker in Atlanta.
[50:25] Aaron talks about his journey with Transworld.
[52:32] Al and Aaron assisted with each other’s wedding.
[54:36] What does Aaron enjoy most about being part of the Transworld family?
[56:20] Jon shares what he enjoys the most in his professional career.
[57:49] What is Aaron looking forward to in his business brokerage career?
[59:00] What is Jon looking forward to in the future?
[1:00:06] What is next for Al?
[1:02:17] Deal of the week: Chris Chip Redmond (Central Florida) sold an Asian restaurant. It will go through some renovations and will be ready to reopen its doors. The business was sold for $190,000. Email Chip at chrisredmond@tworld.com or call (321) 299-6867.
[1:03:45] Listing of the week: Pam Vincent (DFW North Texas) is selling a live music cafe and bar located in a historical business in Dallas with $2.5 million in real estate; the business is priced at $100,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Johnathan Choe at jchoe@tworld.com or call (541)920-9026
Email Chris Redmond at chrisredmond@tworld.com or call (321) 299-6867
Email Pam Vincent at pvincent@tworld.com.
Andy and Jessica want to share with the listeners the third part of the series that tells Transworld Business Advisors’ story, from its very beginnings, the process of growth, until today. Andy and Jessica are starting this episode going back to 2010, the time when Transworld became a franchise, based on the idea of partnership and transforming into a multinational company with hundreds of offices around the world.
Listings of the week:
-
Robert Radanovich (Central Oregon) is selling a truck repair business that does heavy equipment and also has three additional revenue streams. The asking price is $2.95 million which comes with land; it is a prime piece of real estate. Owners are ready to retire. Call Robert at (559) 801-8233.
-
George Albright (North Richland Hills Texas) is selling a farmer’s capital insurance agency, it has an SBA loan pre-approved. The asking price is $750,000. Contact George at galbright@tworld.com.
Key takeaways:
[4:53] Deal of the week: Lonnie Woodruff (Central Oregon) sold a large absentee e-commerce business for $2.95 million. The buyer came from California and is in the tech world. It was a cash deal.
[6:49] Ray Titus and Bill Luce talk about what was going on in their lives before being introduced to Transworld back in 2009.
[7:26] Bill has always been intrigued by business brokers.
[10:01] The moment Ray, Bill, and Andy found out they were going to be the perfect partners.
[12:17] A unique partnership that complements each other very well.
[13:04] They decided Transworld was going to be the name.
[14:52] Did they expect the company to get as big as it is today?
[17:47] What were the milestones for Transworld that showed it was going to be a success?
[19:58] Transworld tried to lead a cultural change within the industry.
[23:23] How many clients is Transworld serving on an annual basis?
[26:15] Transworld grows with the success of each franchisee.
[27:18] Transworld is always looking to get better.
[28:26] What was the first country to be an international franchisee?
[29:01] Andy talks about his role throughout this growing process.
[34:31] What is next for the brand?
[39:50] Listing of the week: Robert Radanovich (Central Oregon) is selling a truck repair business that does heavy equipment and also has three additional revenue streams. The asking price is $2.95 million which comes with land.
[41:21] Listing of the week: George Albright (North Richland Hills Texas) is selling a farmer's capital insurance agency; it has an SBA loan pre-approved. The asking price is $750,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Lonnie Woodruff at (541) 920-9026
Call Robert Radanovich at (559) 801-8233
Contact George Albright at galbright@tworld.com
Listen to Our Story Part 1 and Part 2.
Andy and Jessica welcome you to another episode of The Deal Board. This time they are talking about an unfortunate situation that happens more than expected. Very often the seller is sick and passes away during the selling process, and it is shocking to find that very frequently they don’t have their affairs in order. Listen to today’s episode to find the experts’ advice to guarantee your deal even in the most unpredictable circumstances.
Listings of the week:
- Jason Blair (Portland) is selling a cabinet manufacturer that has been operating for 46 years. The list price is $1.9 million and its SDE is $473,000 with $700,000 in inventory. Email Jason at jblair@tworld.com or call (763) 269-1979.
- Lonnie Woodruff is selling a Ready Mix Batch Plant located in Central Oregon that has been in business for over 20 years. This company made $944,000 last year and the asking price is $3.25 million including real estate. The owners want to retire. Call Lonnie at (541) 920-9026.
Key takeaways:
[5:20] Deborah Carman from Carman Law at Boca Raton, Florida.
[8:39] Deborah talks about the consequences of not planning before an emergency situation.
[11:24] How long does the probate process take?
[12:50] Andy explains how safe state planning is done.
[14:11] Deborah shares a common case.
[16:40] Deborah talks about some common mistakes in state planning.
[20:02] Deborah suggests people look at their trusts and make sure they are updated.
[23:01] Deal of the week: Julie Smith (Central Oregon) sold a company that deals with concrete and polishing, a very lucrative business with an SDE of $300,000, it was sold for $750,000.
[24:38] Kylene Golubski, Executive Director at the IBBA (International Business Brokers Association) since 2015.
[25:50] Kylene talks about the biggest IBBA conference which is about to happen in 2023.
[26:55] Andy and Kylene talk about international participation in the IBBA Conference.
[30:19] Kylene shares exciting news.
[32:21] Listing of the week: Jason Blair (Portland) is selling a cabinet manufacturer that has been operating for 46 years. The list price is $1.9 million and its SDE is $473,000 with $700,000 in inventory.
[33:44] Ben Protano from Protano Law.
[35:25] Ben advises everyone to get the right legal support.
[37:41] Ben gives several tips for people selling/buying a business.
[41:37] Listing of the week: Lonnie Woodruff is selling a Ready Mix Batch Plant located in Central Oregon that has been in business for over 20 years. This company made $944,000 last year and the asking price is $3.25 million including real estate. The owners want to retire. Call Lonnie at (541) 920-9026.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Get in touch with Deborah Carman by phone at (561) 392-7031 or email: info@carmanlegal.com
CarmenLegal.com
Get in touch with Ben Protano by email:
bp@protanolaw.com
ProtanoLaw.com
Email Julie Smith at jsmith@tworld.com
Visit IBBA
Email Jason Blair at jblair@tworld.com or call (763) 269-1979.
Call Lonnie Woodruff at (541) 920-9026.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today they are giving an update on 2022 to help you catch up on what is going on in the marketplace. Stay tuned until the end because you will hear some very surprising statistics.
Listings of the week:
-Julie Smith (Oregon) is selling a design center owned by a husband and wife. They are making $300,000 in cash flow, and it is listed for $499,000. There is no need to have previous knowledge in the field; most customers come into the store, see what’s available and go from there. Financing is prequalified. Great business for a partnership! Email Julie at jsmith@tworld.com.
-Dan Walkowski (Portland) is selling a design center/furniture store that has been in business since 2006, building and store. It is listed for $1.75 million has around $300,000 in inventory, it makes $380,000 in SDE. The business is SBA-prequalified (Pacific West Bank). Email Dan at dwalkowski@tworld.com or call (503) 880-8972.
Key takeaways:
[4:10] Andy and Jessica talk about the listings and what they have been seeing about inventory after consulting their data from Transworld’s network.
[5:54] Good news for buyers: An increase in new listings (but remains low).
[7:30] Andy and Jessica talk about prices: The average listing price (went down 4% but it is still high).
[15:43] Q3 report from BizBuySale shows a small decline in small deals.
[19:13] The small business owners’ confidence went down. What are they concerned about?
[22:20] What are the actual effects of the recession?
[25:52] The restaurant industry is coming back.
[27:40] Andy interprets what all these numbers are forecasting for the last part of the year.
[34:28] Listing of the week: Julie Smith (Oregon) is selling a design center owned by a husband and wife. They are making $300,000 in cash flow, and it is listed for $499,000.
[36:26] Kenny Proske shares his insights about this quarter.
[38:22] The buyers will always come.
[41:17] Deal of the week: Eric Mendelsohn (New York City) sold a taxi and limousine business including 15 plates and 15 cars. The business was listed for $479,000 and was sold for $435,000 in only 34 days.
[43:40] Tammy Youst from Centennial Bank talks about the SBA world today.
[47:55] There is still a great interest rate.
[52:03] Tammy talks about Florida as a destination state.
[55:11] Listing of the week: Dan Walkowski (Portland) is selling a design center/furniture store that has been in business since 2006, building and store. It is listed for $1.75 million and has around $300,000 in inventory; it makes $380,000 in SDE. The business is SBA-prequalified (Pacific West Bank).
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — 888-719-9098
Email us thedealboard@tworld.com.
Email Julie Smith at jsmith@tworld.com.
Email Kenny Proske at kproske@mainstreetfundinggroup.com or call (561) 203-7325.
Call Eric Mendelsohn at (516) 840-3516 or email emendelsohn@tworld.com.
Centennial Bank
Email Tammy Youst at tyoust@my100bank.com or call (813) 625-1288.
Email Dan Walkowski at dwalkowski@tworld.com or call (503) 880-8972.
Tweetables:
“The business of the sale market is relatively stable if you compare it to the stock market.“ #thedealboard #transworldbusinessadvisors #business #2022
“It is still a highly competitive market for buyers.” #thedealboard #transworldbusinessadvisors #business #2022
“The asking price has come down 13%.” #thedealboard #transworldbusinessadvisors #business #2022
“There is a scarcity of good businesses.” #thedealboard #transworldbusinessadvisors #business #2022
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they continue to explore the story of Transworld Business Advisors, which not only survived the fact of having several owners but also thrived as a franchise in the U.S. and throughout the world. Listen to this episode to learn about Transworld’s growth years following the main milestones conquered along the way.
Listings of the week:
-Joseph DiBartolo (West Florida) is selling a 25-year-old construction company with 95 employees. The company is making over $1.2 million per year and it is selling for $3.4 million. Lots of work in progress. Call Joe at (352) 999-1815.
-Tom Milana (South Florida) is selling a construction company that has been working for 20 years and is located in South Florida. They put new water pipes in many cities and they are making $20 million in revenue. SDE: $ 3 million per year. This company has been having consistent growth but there is still plenty of room for expansion. This company also owns real estate. Selling price: $13.5 million including some working capital. Email Tom at tom@tworld.com or call (561) 702-6867.
Key takeaways:
[1:35] Andy explains how they created a legacy selling business.
[2:30] Andy talks about how he decided to move to Florida and joined the firm in late 1994.
[4:06] Andy buys Transworld.
[4:16] A deal with New Tech changed things forever for Transworld Business Advisors.
[8:30] Listing of the week: Joseph DiBartolo (West Florida) is selling a 25-year-old construction company with 95 employees. The company is making over $1.2 million per year and it is selling for $3.4 million. Lots of work in progress.
[10:25] Jessica tells Phase 2 of the Transworld story joined by three of the original twelve shareholders who began the franchising journey.
[10:56] Tom Jones talks about the year when he joined Transworld.
[14:15] Tom explains the effort involved in the beginning.
[15:08] The billboards put Transworld in people’s sight.
[16:01] Andy shares what his experience was like in the first couple of years at Transworld.
[19:34] Andy talks about the day that Don and he switched chairs.
[22:14] What was the next big milestone for Transworld?
[23:25] 1999 Transworld got an investment from New Tech.
[26:10] Peter Berg shares his perspective when entering Transworld as an agent.
[28:33] Where was Transworld going in early 2000?
[33:05] 2009 brought new challenges to the business brokerage industry.
[34:36] Andy shares the idea of growing outside of Florida.
[36:28] Who came up with the idea of franchising for Transworld?
[37:42] Peter explains what happened to Transworld and his role since the franchising started.
[41:54] Tom talks about how his role changed through the years and he shares his expectation about Transworld when he first joined the business.
[47:33] Deal of the week: Kevin Everts (Syracuse) sold a gymnastics center that originally wanted to be sold by its owner for $1 million. STE was close to $550,000 and the business was sold for $1.4 million.
[49:41] Listing of the week: Tom Milana (South Florida) is selling a construction company that has been working for 20 years and is located in South Florida. They are making $20 million in revenue. SDE: $ 3 million per year. Selling price: $13.5 million including some working capital.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call Joseph DiBartolo at (352) 999-1815.
Email Kevin Everts at keverts@tworld.com.
Email Thomas Milana at tom@tworld.com or call (561) 702-6867.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they are sharing Transworld’s story, a trajectory that began back in the ’70s. It is a great example of entrepreneurship and is filled with growth, acquisitions, franchising, and connections. This is the first of four parts where you will listen to several interesting interviews to put the pieces of this amazing story together. This episode includes the narration of the events occurring in Transworld’s early years.
Listings of the week:
-Todd Bailey (Wichita) is selling a company in the HVAC business that has been working for 35 years, it has six employees and is listed at $925,000 with an SDE of $325,000. Preapproved SBA financing. Email Todd at todd@tworld.com or call (316) 214-6875.
-Justin Lefebure (Central Florida) is selling a waterfront restaurant located on a marina, making around $550,000. The real estate is included. Listed at $4.5 million and includes the license. This business has increased, year after year. Call Justin at (772) 925-2675 or email jlefebure@tworld.com.
Key takeaways:
[3:32] Andy traced the name Transworld to find who started it.
[3:44] July 26, 1974: Gary Finkelstein forms Trans/World Realty Corp.
[4:12] 1979: The Fort Lauderdale Office was opened.
[4:41] March 1982:Transworld Realty Corp East was founded.
[5:13] In 1986 the real estate market was having a hard time, and as a result, Transworld Business Brokers Inc was started in January 1988.
[7:10] Andy interviews Don and Bonnie Parrish who bought Transworld from Janine Bleich Aronson, Syd’s daughter.
[8:29] In the Spring of 1992, Janine’s dad passed away and Transworld’s story began. Listen to the first moments of this entrepreneurial journey.
[20:29] How many offices were there when they first took over the business?
[21:38] What was the best year?
[22:45] What did a business broker look like when she came into the field?
[22:56] Customer service was always a priority.
[24:57] What did Don take away from IBM to apply in his work at Transworld?
[28:07] Don explains how they trained the new agents in business brokerage.
[29:15] Thomas Jones was asked to train brokers.
[30:45] Advice for those wanting to join Transworld.
[33:25] Deal of the week: Justin Lefebure (Central Florida) was contacted by a friend who was halfway into a deal with a private equity group and he assisted him in selling a landscaping business for one million dollars.
[35:40] Syd was the original owner of Transworld and Janine, his daughter, is telling the story of the business as she knows it.
[37:37] Janine tells how her father decided to specialize in business brokerage.
[43:51] Syd enjoyed talking to all buyers.
[47:50] Janine talks about how much her dad loved cigarettes and coffee which eventually lead to health complications that ended his life due to a heart attack.
[51:02] Syd was phenomenal with numbers.
[52:41] Listing of the week: Todd Bailey (Wichita) is selling a company in the HVAC business that has been working for 35 years, it has six employees and is listed at $925,000 with an SDE of $325,000. Preapproved SBA financing.
[54:19] Matt Posner explains how he is related to Transworld Business Advisors.
[55:52] Where does the name transworld originally come from?
[57:57] Matt talks about Syd.
[59:14] Matt talks about his mother.
[1:04:10] Listing of the week: Justin Lefebure (Central Florida) is selling a waterfront restaurant located on a marina, making around $550,000. The real estate is included. Listed at $4.5 million and includes the license. This business has increased, year after year.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098.
Email us thedealboard@tworld.com.
Call Justin Lefebure at (772) 925-2675 or email jlefebure@tworld.com.
Email Todd Bailey at todd@tworld.com or call (316) 214-6875.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today’s episode, they are talking about processes and how they can help streamline your business and make it more profitable. The experts are talking about practical ways of increasing value. Greta Schulz from Schulz Business SELLutions is talking about how to bring your organization to the next level and Dafne Tsakiris from Launch Point Co of Denver Colorado offers very practical tips to streamline your business. Coach Michael Dill from ActionCOACH is also joining today’s show to share his experience and practical advice for business owners to be more successful.
Listings of the week:
-
Rick Rayl (Coachella Valley) is selling a high-end couture handbag company that was big in the ’50s to ’70s producing fashionable handbags. The son of the original owners restarted the company in 2015 and made it very popular through influencers on social media. COVID-19 stopped the business completely. Now they are selling their assets, including a collection of all the original bags. Price: $2 million (negotiable). Call Rick at (760)766-3881 or email rrayl@tworld.com.
-
Michael Morrissey (Portland) is selling a pet supply store that has been in business for about 10 years. Selling Price: $351,000 plus inventory. EBITDA $110,000. It is fully staffed and has a great manager in place. Email Michael at mmorrisey@tworld.com or call (503) 701-1075.
Key takeaways:
[4:39] Greta Shawls (Shawls Business).
[5:16] If you are trying to sell, you need to pay attention to the internal processes of your business.
[6:37] How do you help a Baby Boomer business owner to modernize?
[9:02] Greta talks about the discovery process she leads clients through.
[10:26] Once business owners discover what they need to do, how do they implement it?
[14:12] Coaching helps but you are the one who needs to do the work, self-help has to come from inside of you.
[18:30] Greta talks about the importance of following processes.
[21:30] Hiring the right people is one of the most important things you can do for your business.
[27:10] Deal of the week: Hollie Choe (Central Oregon) sold a business in the commercial cleaning field; the sellers have built this business for over 10 years. SDE $450,000. Sold at $1.15 million, all-cash offer, no financing.
[29:41] Dafne Tsakiris talks about herself and her company.
[30:22] Dafne defines processes.
[31:37] Dafne talks about the importance of processes and systems to the success of a company.
[34:12] How does a business owner start to document all the processes?
[36:07] How to avoid getting overwhelmed by processes?
[37:31] Where can business owners get help to work on their business process mapping?
[38:55] How challenging is it to get everyone to follow the processes?
[40:38] Dafne explains what is the first step to start documenting business processes.
[41:50] Listing of the week: Rick Rayl (Coachella Valley) is selling a high-end couture handbag company that was big in the ’50s to ’70s producing fashionable handbags. The son of the original owners restarted the company in 2015 and made it very popular through influencers on social media. COVID-19 stopped their business. Now they are selling their assets, including a collection of all the original bags. Price: $2 million (negotiable).
[47:01] Michael Dill (ActionCOACH) explains why he bought a franchise.
[48:42] Michael talks about his program: attitude, action, and results.
[50:23] Michael shares his work with Jeff and John.
[53:15] Why do some business owners fail to put concepts into action?
[55:35] Michael talks about his book Knock It Out of the Park Leadership: The ABC’s of Entrepreneurial Success.
[1:01:05:] When you show up right, the right people will show up.
[1:03:56] Listing of the week: Michael Morrissey (Portland) is selling a pet supply store that has been in business for about 10 years. Selling Price: $351,000 plus inventory. EBITDA $110,000. It is fully staffed and has a great manager in place.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098.
Email us at thedealboard@tworld.com.
Knock It Out of the Park Leadership: The ABC’s of Entrepreneurial Success, by Michael Dill
Email Greta Schultz at greta@schulzbusiness.com.
Pivot Podcast with Greta Schulz
Email Hollie Choe at hchoe@tworld.com or call (541) 920-9026.
Call Rick Rayl at (760)766-3881 or email rrayl@tworld.com.
Email Michael Dill at michaeldill@actioncoach.com, visit his website, or call (954) 596-0715.
Email Michael Morrisey at mmorrisey@tworld.com or call (503) 701-1075.
Andy and Jessica welcome you to another episode of The Deal Board Podcast; today, they are talking about the future, specifically from an area of business consulting that is called Futurism, and for this, they are joined by two experts: Pascal Finette, Cofounder and Chief Heretic at Be Radical, and Oren Schauble from Product World.
In this episode, they address the role of AI, automation, and robots in the future of business. The future is happening fast, but there is an opportunity to really harness what is going to happen. Listen to this episode to get ready for what is coming!
Listings of the week:
- Bob Dunphy (New York City) is selling a photo/video/electronic store that did great during the pandemic. It is an owner-operated business that makes $300,000 in SDE. The asking price is $600,000 and has $800,000 worth in inventory. Email Bob at bdunphy@tworld.com or call (917) 589-0977.
- Paul Ripon (Minnesota) is selling a mental health practice in six locations, the owner has been in the business for 27 years and is now planning to retire. Reduced price: $1 million. Call Paul at (612) 310-3265.
Key takeaways:
[2:15] Andy and Jessica talk about futurism and its benefits for business.
[6:18] Deal of the week: John Chafee (East North Carolina) sold a great machinery fabrication company making a couple of million dollars per year in revenue. EBITDA $1.8 million. Owners were planning to retire and no family members wanted to take over the business. The sellers accepted an offer of $11.5 million.
[11:38] Pascal Finette Co-Founder & Chief Heretic Be Radical.
[12:49] Pascal defines futurism and its role in today’s society.
[15:20] How does futurism apply to business owners?
[16:19] Three questions to ask when you look at technology trends.
[19:30] What are the elements of the environment that entrepreneurs should really pay attention to regarding the near future?
[21:42] Pascal shares what really excites him about the newest technology.
[23:30] How do we have companies that capture innovation and creativity?
[24:14] Pascal explains the 10-10-5 framework.
[26:43] Pascal encourages business owners to seek out diversity: Talk to people that you usually don’t talk to.
[28:23] Pascal shares his advice to small business owners: The future is yours!
[30:59] Listing of the week: Bob Dunphy (New York City) is selling a photo/video/electronic store It is an owner-operated business that makes $300,000 in SDE. The asking price is $600,000 and has $800,000 worth in inventory.
[34:45] Oren Schauble from Product World.
[36:53] Oren talks about how to start doing something about the future.
[38:01] Differentiate yourself in the market.
[43:08] Which industries might be shaken up moving into the future?
[46:20] Finding collaborators online was not available for entrepreneurs 10 or 20 years ago.
[46:39] What should someone do if they are interested in a product or piece of software?
[48:26] Why do people hire Oren?
[50:58] Oren talks about what is exciting now for businesses.
[52:58] Listing of the week: Paul Ripon (Minnesota) is selling a mental health practice in six locations, the owner has been in the business for 27 years and is now planning to retire. Reduced price: $1 million.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe toThe Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Call John Chafee at (252) 933-9455 or email jchafee@tworld.com
Email Bob Dunphy at bdunphy@tworld.com or call (917) 589-0977
Call Paul Ripon at (612) 310-3265.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This time, they are discussing a very current question: Are we in a recession? They agree that regardless of whether it is a recession or the U.S. is transiting, the critical matter today is that macroeconomics has a considerable impact on the business sale market, due to its influence over the valuations. Listen to this episode and hear everything you need to know about the macroeconomic indicators affecting businesses’ realities today.
Listings of the week:
- Bill Roland (Saint Louis West) is selling a furniture store listed for $1.1 million, with over $750,000 in nets. This store has no competition within a 70-mile radius. Call Bill at (636) 345-3426 or email him at broland@tworld.com.
- Doug Milana (Philadelphia) is selling a pet boarding care, that boards 50 to 60 dogs a day and is open 7 days a week. The business has an in-ground pool. Listed at $700,000. SDE: $300,000. Email dmilana@tworld.com or call (484) 832-7539.
Key takeaways:
[3:30] There hasn’t been a downturn in business sales; Andy and Jessica explain why.
[4:23] There is still a lot of money in the marketplace.
[5:19] Banks drive a big portion of the lending environment for business acquisitions.
[5:40] Jessica talks about the effect of interest rates rising.
[8:31] What is promoting valuation increases?
[12:14] How is inflation affecting small businesses?
[14:55] Andy and Jessica talk about the Seller Tsunami.
[17:55] Right now is a great time to sell.
[19:31] Listing of the week: Bill Roland (Saint Louis West) is selling a furniture store listed for $1.1 million, with over $750,000 in nets. This store has no competition within a 70-mile radius.
[21:08] Dr. Ben Tabatabaei, chief economist of the Florida Chamber, joins the conversation about the impact of macroeconomics on the U.S. economy.
[21:53] Dr. Ben answers the question: Are we in a recession?
[23:23] Dr. Ben doesn’t think this will be a prolonged recession.
[24:15] Dr. Ben talks about how different states’ economies reflect their decisions regarding the COVID-19 pandemic.
[26:49] Dr. Ben shares the difference between the current recession and the one in 2009.
[32:02] What lead the economy to the current situation?
[33:20] Dr. Ben explains how the economy will recover with the measures that are being taken now.
[37:18] Dr. Ben, as chief economist of the Florida Chamber, explains what Florida is doing regarding the current economy.
[41:31] Supply chain issues are getting better.
[42:53] Dr. Ben talks about one of the challenges in the energy sector.
[45:11]Deal of the week: Joshua Sagman (West Palm) sold a business called “Body Human Exhibit,” an exhibit where mummified bodies are used to show their different characteristics. This business was listed for two years and was finally bought by an entrepreneur who is building a dinosaur park in Florida and decided to complement his business with the Body Human Exhibit.
[47:14] Lynn Ozer, President of MultiFunding, talks about SBA lending right now.
[55:10] Lynn speaks of small businesses that are facing changing variations of their collateral.
[59:00] Listing of the week: Doug Milana (Philadelphia) is selling a pet boarding care, that boards 50 to 60 dogs a day and is open 7 days a week. The business has an in-ground pool. Listed at $700,000. SDE: $300,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — 1-888-719-9098
Email us thedealboard@tworld.com
Florida Chamber
Follow The Florida Chamber on Twitter
Call Bill Roland at (636) 345-3426 or email him at broland@tworld.com
Email Joshua Sagman at joshuasagman@tworld.com or call (561) 340-3048
Email Doug Milana at dmilana@tworld.com or call (484) 832-7539
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today they are discussing a very controversial topic which is why, when selling your business, you should take the first buyer who enquires but not necessarily the first offer. In their experience, the first buyer is often the right one and they are telling you why. Andy and Jessica share their advice on how to identify motivated buyers and they also give some “cautionary tales” about their experience seeing sellers refusing to engage with certain buyers.
Listings of the week:
- Steve Merritt (Houston) is selling a bar that opened during COVID-19, and as a result, had no revenue for 6 months in 2020 but ended the year at $2.6 million in revenue, over half a million dollars in EBITDA. Business is selling for four times multiple on the EBITDA. The concept of this bar involves food trucks that come in. The business owner is also the landlord. Call Steve at (713) 582-2353 or email smerritt@tworld.com.
- Todd Bailey (Wichita) has a great new business in the home health care field, that owned ten almost brand new homes, they have wonderful operation records and procedures in place. Listed at $3.3 million. Email Todd at todd@tworld.com or call (316) 214-6875.
- Eric Mendelsohn (New York City) is selling a fabulous Italian restaurant in Connecticut, the best restaurant in town with a huge bar. Price: $1.5 million, sales are about $2.35 million and it is about two times SDE. Call Eric at (516) 840-3516 or email emendelsohn@tworld.com.
Key takeaways:
[1:40] Jessica explains what anchoring is in the selling process.
[2:14] Andy talks about some of the reasons people go through the first buyer.
[4:20] Technology has made things years when is time to find the right buyer.
[5:10] What does a motivated buyer look like?
[8:35] Andy speaks about the moment when a seller realizes he might have gone too low on the price.
[10:10] Andy shares an example of a deal that did not take place in the most dramatic manner.
[14:20] Jessica shares an example of a deal going wrong due to aspects that could not be controlled.
[18:18] Andy shares an example showing the importance of always keeping your goal in mind.
[21:10] Businesses do not always sell.
[24:06] Listing of the week: Steve Merritt (Houston) is selling a bar that opened during COVID, and as a result had no revenue for 6 months in 2020 but ended the year at $2.6 million in revenue, over half a million dollars in EBITDA. Business is selling for 4 times multiple on the EBITDA.
[28:15] Patrick Bombardiere (Colorado) shares some examples of sales that went wrong.
[35:27] Deal of the week: Tony Keane (Houston) sold a franchise operation in the field of tutoring to the K-12 age range. The buyer wanted a semi-absentee type of work, they close the deal on a combination of cash and seller financing, and was sold for $100,000.
[41:30] Robert Radanovich (Central Oregon) talks about a business owner that should have taken the first offer.
[43:07] Listing of the week: Todd Bailey (Wichita) has a great new business in the home health care field, that owned ten almost brand new homes, they have wonderful operation records and procedures in place. Listed at $3.3 million.
[44:16] Julie Smith (Central Oregon) talks about her experience with a business owner that did not take the first offer (and regretted it).
[45:42] Kevin Everts (Syracuse) shares his experience with a buyer that rejected the first offer.
[47:16] Listing of the week: Eric Mendelsohn (New York City) is selling a fabulous Italian restaurant in Connecticut, the best restaurant in town with a huge bar. Price: $1.5 million, sales are about $2.35 million and it is about two times STE. Call Eric at (516) 840-3516 or email emendelsohn@tworld.com.
[48:55] Bob Dunphey (New York City) shares why a lot of times the first offer is the best.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Patrick Bombardiere at patrick@tworld.com
Email Tony Keane at tkeane@tworld.com or call (713) 511-2768
Call Bob Dunphey at (917) 589-0977 or email bdumphey@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This time, they want to share the current Record Quarter they have experienced at Transworld Business Advisors, where deals, average sale price, and earnings are up again! This certainly paints an auspicious picture for the business marketplace!
Andy and Jessica are also sharing the top 15 industries ranked by the number of deals that were sold in this quarter.
Listings of the week:
- Jeni Abramson (Beverly Hills, California) is selling an established profitable swimming lessons business that has been operating since 2001, with a backlog of 500 clients. Business is ready for a new owner to take over. Asking price: $620,000. SDE: $200,000. Email Jeni at jabramson@tworld.com or call her at (917) 536-8672.
- Eric Straus (New York City) is selling a nice small deal, a moving company in Queens with two trucks, $415,000 in revenue, SDE: $111,000; Asking price: $199,000. Email Eric at estraus@tworld.com.
Key takeaways:
[1:30] Andy and Jessica explain why this has been a record quarter.
[4:03] There is a very competitive and well-funded buyers market.
[5:17] Deals are up again this quarter!
[8:13] Average sold prices went up pretty significantly.
[11:31] The year-over-year average sale price is solid.
[17:39] Andy and Jessica share the top 15 industries (ranked by the number of deals that were sold).
[18:06] No. 1: Restaurants.
[19:42] No. 2: Construction Industry.
[22:08] No. 3: Beauty and personal care.
[23:36] No. 4: Automotive.
[24:48] No. 5: Medical-related business.
[26:31] No. 6: Landscaping.
[27:05] No. 7: Cleaning.
[27:50] No. 8: Manufacturing.
[28:24] No. 9: Fitness.
[29:04] No. 10: Retail.
[29:36] No. 11: Animals/Pet Services.
[30:30] No. 12: Liquor-related businesses.
[31:00] No. 13: Distribution businesses.
[31:34] No. 14: Education/School.
[32:09] No. 15: Food Business Retail.
[35:10] Gerald Brisson (Houston) talks about the best quarter ever!
[38:14] Deal of the week: Tom Gesimondo (Brooklyn) purchased an IT staffing business for the hospitality world for $50,000.
[39:58] Kyle Baisch (Pacific West Bank) shares his excitement about the future.
[42:10] Philip Mandel (Pacific North West — Lake Oswego) speaks about the good news for this year.
[44:15] Listing of the week: Jeni Abramson (Beverly Hills, California) an established profitable swimming lessons business that has been operating since 2001, with a backlog of 500 clients. Asking price: $620,000. SDE: $200,000.
[45:45] Michael Morrisey (Portland) is talking about a very busy quarter and two of the businesses he is selling: a coffee shop that has been in business for 18 years and an HVAC company operating for the past 2 years.
[47:29] Jonathan Choe (Oregon Central) talks about an incredible quarter.
[50:04] Dustin Audet (Dallas) talks about a prosperous market.
[52:46] Listing of the week: Eric Straus (New York City) is selling a nice small deal, a moving company in Queens with two trucks, $415,000 in revenue, SDE: $111,000; Asking price: $199,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Email Gerald Brisson at gbrisson@tworld.com or visit tworld/houston
Email Tom Gesimondo at tomg@tworld.com or call (973) 903-9931
Email Philip Mandel at pmandel@tworld.com
Email Jeni Abramson at jabramson@tworld.com or call her at (917) 536-8672
Email Dustin Audet at daudet@tworld.com
Email Eric Straus at estraus@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast, and today, they are talking about Jessica’s article in Inc. written by Minda Zetlin and titled Selling Your Business? These 5 Simple Changes Can Boost Your Price 50 Percent Some 80 percent of owners can't sell their businesses at any price. But you can flip those odds in your favor.
In today’s episode, they dive deep into the five necessary steps to get your business ready for sale and even significantly increase its value. Joining them is John Arnold, a renowned business coach who shares valuable information for entrepreneurs who struggle with letting their company go.
Listings of the week:
- Mark Keane (Boston) is selling a commercial landscaping company dedicated also to snow plowing that has been in business for seven years; listed at $985,000, its SDE is around $350,000 per year. Email Mark at mkeane@tworld.com
- Marc Lazarus (New Jersey) is selling a great pizza place whose income is $60,000 weekly (over $3 million per year); the store is split in two, with dining and pizza areas. They are doing better numbers than they did pre-COVID-19. Listing Price: $2 million. Approved to be SBA financed. Email Marc at ml@tworld.com or call (201) 370-9600.
Key takeaways:
[1:37] Most businesses don’t sell and Jessica explains why.
[2:17] Get ready to sell your business: Step 1: Clean up your financial record.
[8:25] Step 2: Make the business less about you.
[13:35] Step 3: Review your contracts.
[17:43] Step 4: Create an owner’s manual for your company.
[21:16] Step 5: Take care of your business’ reputation (especially online).
[25:42] Jessica talks about the one key that has to happen in order to implement the change: Do the work.
[27:26] John Arnold (business coach) shares the stressors he sees currently.
[30:45] How does John help business owners go over the “paralysis by analysis”?
[33:20] John explains how he helps his clients to let go.
[35:22] John speaks about the importance of getting to know his clients personally.
[37:01] John speaks about his work helping leaders become more effective in their organizations.
[40:22] Does John have to adapt his style for each client or organization?
[43:48] John highlights the importance of entrepreneurs getting used to feeling uncomfortable.
[46:50] Listing of the week: Mark Keane (Boston) is selling a commercial landscaping company dedicated also to snow plowing that has been in business for seven years; listed at $985,000, its SDE is around $350,000 per year.
[49:40] Deal of the week: Aaron Fox (Boston) assisted three hair stylists to buy the salon that they were working for from the retiring owner. Full SBA financed deal. Sold for $250,000.
[50:59] Listing of the week: Marc Lazarus (New Jersey) is selling a great pizza place whose income is $60,000 weekly (over $3 million per year); the store is split in two, with dining and pizza areas. They are doing better numbers than they did pre-COVID-19. Listing Price: $2 million. Approved to be SBA financed.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — at (888) 719-9098
Email us thedealboard@tworld.com
The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It, by Michael E. Gerber
Call John Arnold at (954) 294-7053 or email john@johnsarnold.com
Email Mark Keane at mkeane@tworld.com
Call Aaron Fox at (781) 773-8922 or email aaron@tworld.com
Email Marc Lazarus at ml@tworld.com or call (201) 370-9600
Tweetables:
“As entrepreneurs, we all want freedom and we want money, that is why we have created our businesses.” #thedealboard #transworldbusinessadvisors #sellingyourbusiness
“Owner-absentee-run business can dramatically increase the value of a business.” #thedealboard #transworldbusinessadvisors #sellingyourbusiness
“Business owners and leaders are experiencing stress that they have never felt before.” #thedealboard #transworldbusinessadvisors #sellingyourbusiness
“Business leaders often struggle to let go.” #thedealboard #transworldbusinessadvisors #sellingyourbusiness
Andy and Jessica welcome you to another episode of The Deal Board. Today they are talking about partnerships from their own experiences, which sometimes were successful and in other cases not so much due to various reasons. They both have a number of business partnerships in their careers and are sharing some keys to success, for you to know how you can structure your business partnership right up front.
Andy and Jessica are welcoming Deborah Carman to talk about the legal aspect of a business partnership as the fundamental roles of having a partnership and an operating agreement.
Listings of the week:
-
Kip Hargreaves (South East Massachusetts) is selling a very profitable eco-friendly waste removal business located in downtown Boston. The business made $750,000 in the first year of operation in 2020. Listing price: $600,000 (negotiable). Call Kip at (508) 446-6569 or email khargreaves@tworld.com.
-
Ashley Kelsey (Eastern North Carolina) is selling a window tinting business. SDE: $230,000. The asking price is $270,000. The business is in a great location and has been long established in the community. Great opportunity to grow and even become a franchise. Also, the business is prequalified for an SBA loan. Call Ashley at (910)302-6447 or email akelsey@tworld.com.
Key takeaways:
[2:31] Andy and Jessica talk about the many reasons why entering a partnership.
[5:55] Step 1: The split of equity.
[8:31] Step 2: How do you get into the partnership?
[11:15] Step 3: Money.
[16:55] Step 4: Responsibilities: Who does what? How are they being compensated?
[20:12] Step 5: Expansion: How and how fast should a company grow?
[23:33] Step 6: You will sell your company and the partnership will reach an end.
[28:38] Andy shares some advice from his partnership experience with regard to setting up a mechanism for valuing the business in case minority shareholders want to exit the business.
[31:18] Deborah Carman (Carman Law) joins the conversation to talk about partnerships.
[32:27] You need to have an agreement and Deborah explains why.
[33:35] Deborah shares what she encourages her clients to do.
[35:10] Deborah suggests reaching an agreement on how you will resolve the arguments.
[37:42] What happens if partners start arguing even when having an agreement?
[40:44] When partners argue they end up settling because it is too expensive to litigate.
[41:38] How many times has Deborah seen people wanting to change partnership agreements?
[45:25] Deborah talks about spouses.
[47:21] Deborah shares a valuable example.
[49:10] Listing of the week: Kip Hargreaves (South East Massachusetts) is selling a very profitable eco-friendly waste removal business located in downtown Boston. The business made $750,000 in the first year of operation in 2020. Listing price: $600,000 (negotiable).
[51:03] Deal of the week: Jason Blair (Portland) tells about a difficult deal. He sold a construction company located in Portland to a third potential buyer who turned out to be the perfect fit for the business. The company was sold for $600,000 (including $400,000 in inventory).
[53:34] Listing of the week: Ashley Kelsey (Eastern North Carolina) is selling a window tinting business. SDE: $230,000. The asking price is $270,000. The business is in a great location and has been long established in the community. Great opportunity to grow and even become a franchise. Also, the business is prequalified for an SBA loan.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us: thedealboard@tworld.com
Get in touch with Deborah Carman phone: 561-392-7031 or email: info@carmanlegal.com
CarmanLegal.com
Call Kip Hargreaves at (508) 446-6569 or email khargreaves@tworld.com.
Call Jason Blair at (763) 269-1979 or email jblair@tworld.com.
Call Ashley Kelsey at (910) 302-6447 or email akelsey@tworld.com.
Welcome to a new episode of The Deal Board Podcast. This week, Andy and Jessica are talking about businesses that decide to grow through acquisition, and share how to buy to grow. They tell the stories of small and big companies that have grown in this way, including Transworld Business Advisors and they receive a very special guest: Jonathan Wolfson, who started Nature’s Experts along with his brother Jeff 14 years ago, and today they are the owners of six companies. Jonathan shares valuable information and lived experience for anyone interested in growing through acquisition.
Listen to this episode to find everything you need to know about strategic acquisitions and why companies have been choosing this way to expand their services, raise, and increase their profits.
Listings of the week:
-Bobby Coffey (Houston) is selling a training center for youth and sports. Their revenues have increased every year; it was $2.5 million in 2021. EBITDA: $1 million. The owner has been running it for eight years. Excellent location!
-Joseph Hertz (Jamaica) is selling a dietitian and nutritionist practice that has great contracts with insurance companies. Asking price: $2 million (negotiable). SDE: $300,000.
Key takeaways:
[2:40] Step 1: Set the goal.
[3:46] Step 2: Have a budget.
[5:06] Step 3: Agree on the criteria and be flexible.
[7:21] Step 4: The search is a full-time job.
[8:26] Step 5: You need to enlist a business broker.
[10:39] Step 6: You will need a transaction team.
[12:46] Step 7: Make offers (aggressively).
[15:13] Step 8: Integrate the companies.
[18:23] Andy and Jessica explain why now is the time to consider growing through acquisition.
[20:39] Jonathan Wolfson (Nature’s Experts) talks about the several acquisitions his company went through.
[28:18] Jonathan tells the story of the business he started with his brother Jeff (whom he met at that time through Facebook.) 14 years ago.
[43:29] How does Jonathan encourage people to get started in their growth-through-acquisition journey?
[52:06] Listings of the week: Bobby Coffey (Houston) is selling a training center for youth and sports. Their revenues have increased every year; it was $2.5 million in 2021. EBITDA: $1 million. The owner has been running it for eight years. Excellent location!
[54:23] Listings of the week: Joseph Hertz (Jamaica) is selling a dietitian and nutritionist practice that has great contracts with insurance companies. Asking price: $2 million (negotiable). SDE: $300,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 719-9098
Email us thedealboard@tworld.com
Nature’s Experts
Email Bobby Coffey at bcoffey@tworld.com or call (832) 481-4406
Email Joseph Hertz at jhertz@tworld.com or call (0 516) 535-9690
Description: Andy and Jessica, your hosts, welcome you to another episode of The Deal Board Podcast. In today’s episode, Transworld Business Advisors’ brokers are answering this question: What is one of the major deal issues that you faced and overcame as a broker?
This question triggered a lot of insight into the broker community and also into buyers and sellers. There are a lot of things that can go wrong in a deal but you can still overcome them with a positive outcome, which includes closing.
Listing of the week: Aaron Fox (Boston) is selling a business in the medical business industry, more particularly in the medspa space, making $1.4 million in sales and with a good clean SDE: $445,000. Asking price: $1.2 million (including more than $350,000 in equipment). Turnkey! Call Aaron at (781) 773-8922 or email aaron@tworld.com.
Key takeaways:
[3:55] Issue #1: Seller financing.
[5:38] Issue #2: Earnouts.
[7:35] Issue #3: Landlords approval.
[9:40] Issue #4: Lawyer Issues.
[11:56] Issue #5: Other legal issues.
[14:22] Issue #6: Employee Issues.
[16:25] Issue #7: Bank Financing.
[20:45] Issue #8: Tax liens.
[23:12] Issue #9: Environmental issues.
[24:54] Issue #10: Buyer past issues.
[29:35] Eric Straus (New York) talks about the charity in Poland in which he and his wife got involved.
[32:07] Deal of the week: Katie Holditch (Houston) sold a liquor store that has been in business for 13 years by the original owner who was ready to retire. Listing price: $235,000 including inventory. Sold in a $220,000 cash deal.
[37:58] Henry Ziff (UK) shares a deal challenge he was able to overcome.
[39:07] Todd Bailey (Wichita) shares the major problem he had to overcome in order to close a deal last year.
[40:34] Eric Straus (New York) shares the biggest challenge he was able to overcome.
[41:42] Bill Roland (Saint Louis West) talks about an interesting issue he faced in a deal.
[43:04] Bill Kleinschrodt (Gulf Coast) speaks of a good example of a challenge solved in a family business.
[45:33] Diane Hartz Warsoff (Utah County) talks about an obstacle in a deal she was able to overcome.
[46:36] Ashley Kelsey (Eastern North Carolina) shares the major issue she faced closing a deal.
[47:31] Listing of the week: Aaron Fox (Boston) is selling a business in the medical business industry, more particularly in the medspa space, making $1.4 million in sales and with a good clean SDE: $445,000. Asking price: $1.2 million (including more than $350,000 in equipment).
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — at (888) 719-9098
Email us thedealboard@tworld.com
Global Volunteers
Call Katie Holditch at (713) 377-3189 or email kholditch@tworld.com
Call Aaron Fox at (781) 773-8922 or email aaron@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast; today they are sharing their view on the first quarter of 2022 and analyzing how some of their predictions are becoming realities in a bustling market. Andy and Jessica are also diving deep into who Transworld Business Advisors is and what it does while sharing the metrics and statistics that result from the data coming from Transworld’s 200 offices around the world.
Listings of the week:
- Quoc Pham (Houston) specializes in selling dry cleaners and laundromats and is selling a coin-operated laundromat located in Houston that has been operating for 13 years. Gross revenue of $360,000. SDE of $139,000. The asking price is $269,000. The seller offers 50% seller finance.
- Matt Plante (Boston) is selling an HVAC company that has been operating for 16 years. Making $2.6 million every year and growing, with an SDE of around $500,000. Financing is available. Great books and records! Owners are ready to retire.
Key takeaways:
[2:30] Transworld Business Advisors has over 200 offices around the world which provide substantial data about the business market.
[5:02] Andy and Jessica dive into the numbers of deals getting done.
[6:46] The average of sales went over the three multiple in SDE.
[9:45] Andy and Jessica list the Top 10 industries sold in the first quarter of 2022, starting with restaurants in the Number 1 position.
[12:52] Number 2: Construction.
[14:53] Number 3: Beauty and personal care.
[15:49] Number 4: Automotive.
[17:28] Number 5: Manufacturing.
[18:32] Number 6: Medical-related businesses (with 5.3 multiple!).
[20:00] Number 7: Cleaning.
[20:54] Number 8: Landscaping.
[22:34] Number 9: Fitness.
[24:41] Number 10: Advertising.
[25:44] Andy and Jessica share about other industries that also sold well in these first four months of 2022.
[29:47] Jonathan Smith (Live Oak Bank) shares his perspective over the first quarter of 2022.
[30:49] How will the increase in the interest rate affect lenders?
[31:49] How is Jonathan seeing 2020 and 2021 in regards to valuation?
[33:27] Deal of the week: Rusty Fisher (Houston, Texas) sold a florist business with its real estate which was run by the second generation of the family who owned it. The buyer owns 30 florist shops around the U.S. All-cash transaction. SDE: $100,000 per year. The listing price was $155,000 and the real estate was priced at $220,000.
[37:06] Tom Gesimondo (Brooklin) shares his perspective over the first quarter of 2022.
[37:58] Marc Lazarus (North Jersey) is sharing why this quarter has been busy.
[38:50] Listing of the week: Quoc Pham (Houston) is selling a coin-operated laundromat located in Houston that has been operating for 13 years. Gross revenue of $360,000. SDE of $139,000. Asking price: $269,000. The seller offers 50% seller finance.
[42:51] Eric Straus (New York) talks about how New York is booming in the first quarter of the year.
[43:51] Joseph Hertz (Five Towns, Jamaica) talks about how people still have a lot of liquidity after the COVID-19 stimulus and interest rates are still low.
[45:19] Bob Dunphy (New York City) shares how busy business is in the health care industry.
[46:21] Samuel Curcio speaks about the current hot market in New York.
[47:30] Kip Hargreaves (Southeast MA) talks about the progress of the custom exhibits industry in the first months of 2022.
[49:45] Aaron Fox (Boston) shares his excitement about the situation in the North East.
[51:30] Mark Kean (Boston) talks about the increasing amount of buyers he has been seeing in the first quarter of 2022.
[52:30] Listing of the week: Matt Plante (Boston) is selling an HVAC company that has been operating for 16 years. Making $2.6 million every year and growing, with an SDE of around $500,000. Financing is available.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us at thedealboard@tworld.com
Email Jonathan Smith at jonathan.smith@liveoak.bank.com or call (603) 812-8278
Call Rusty Fisher at (713) 516-0116 or email at rusty.fisher@tworld.com
Call Quoc Pham at (832)758-7756 or email at quocpham@tworld.com
Call Matt Plante at (603)738-5217 or email at mplante@tworld.com
Tweetables:
“In the first quarter of 2022, businesses are starting to gear up.” #thedealboard #transworldbusinessadvisors #firstquarter #recap #business
“The listings are piling up in the first quarter of 2022.” #thedealboard #transworldbusinessadvisors #firstquarter #recap #business
“One of the silver linings of the pandemic is that now landlords are easier to work with.” #thedealboard #transworldbusinessadvisors #firstquarter #recap #business
Welcome to another episode of The Deal Board Podcast! In today’s episode, Andy and Jessica are addressing one of the most popular topics in the world of business sales: valuation; and for that, they are discussing with two top industry experts in valuation. Darren Mize from GCF Valuations gives a great update on what is happening in the marketplace, and how they are approaching the COVID-19 crisis. David Fein, CEO of ValuSource, talks today about data, how it is compiled, its quality, and where it comes from. This is very useful information since we usually talk about variation multiples without knowing where all this information comes from.
Listings of the week:
-
Sam Curcio (New York) is selling an Interior Design Architecture firm that also does repositioning work. Listed at $3.9 million. They did over $2.4 million in 2021 with an EBITDA of $1.1 million. It is an SBA prequalified deal.
-
Bob Dunphy (New York) is selling a fabulous Mexican restaurant, SDE $350,000, and the asking price is $599,000.
Key takeaways:
[5:29] Darren Mize (GCF Valuations).
[6:21] Darren talks about what he is seeing in the business world these days.
[8:51] How important is the beginning of 2022 for Darren?
[11:18] How is Darren approaching the valuations?
[13:22] How does Darren’s valuation differ from business brokers’ valuations? What kind of adjustment does he usually have to make?
[16:41] Darren dives deep into the concept of data.
[19:43] How important is a location in trying to understand multiples?
[21:40] Darren shares advice to business owners who might think about selling and maximizing their value in the future.
[24:19] Deal of the week: Gary Goldwasser (Denver, Colorado) sold an electrical contractor company doing $5 million in revenue. The asking price was $1.75 million with real estate involved. The buyer purchased it through an SBA loan for $1.7 million.
[31:59] Listing of the week: Sam Curcio (New York) is selling an Interior Design Architecture firm that also does repositioning work. Listed at $3.9 million. They did over $2.4 million in 2021 with an EBITDA of $1.1 million. It is an SBA prequalified deal.
[33:36] David Fein (President and CEO of ValuSource)
[34:04] David talks about how buyers and sellers think about valuation.
[34:53] David shares what ValuSource does as the owner of the largest source of data for small businesses.
[36:23] What does the data collected by buyers and sellers tell us?
[40:01] David explains how to increase valuation by lowering risk.
[43:05] David shares how they acquire the data and from whom.
[46:26] David shares his advice for anyone wondering about the value of their business.
[49:23] Listing of the week: Bob Dunphy (New York) is selling a fabulous Mexican restaurant, SDE $350,000, and the asking price is $599,000.
Welcome to another episode of The Deal Board Podcast. This time, Andy and Jessica, your hosts, are welcoming two of the top SBA business lending experts, John Wahl and Lynn Ozer, who are explaining some of the basics, including what is SBA financing, how is it used, and what business financing in general looks like in our current environment.
Listing of the week: The team of Transworld Business Advisors from Oregon Central is sharing one amazing listing: An e-commerce business in the outdoor power sports industry that has been in business for over 20 years. It is making $5 million per year and $600,000 in EBITDA. The asking price is $3.5 million. Completely turn-key. Great scalable opportunity. Call Lonnie Woodruff at (541) 920-9026 or email lwoodruff@tworld.com.
Key takeaways:
[4:52] John Wahl (Live Oak Bank).
[5:18] What is business financing?
[7:36] How do you know if you are qualified for SBA financing?
[8:13] John describes some of the eligibility requirements for an SBA loan.
[9:43} John talks about the state of the union when it comes to business financing and acquisition.
[12:50] Jessica and John talk about the importance of having a specialist by your side when looking for SBA financing.
[14:51] John shares about Live Oak Bank and the kind of SBA financing they offer.
[15:14] John talks about the SBA 504 and 7(a) programs.
[16:23] How do buyers start engaging in this process? How do they know if they qualify for SBA financing?
[19:55] John expands on Live Oak and the programs they offer.
[21:55] Deal of the week: Aaron Fox (Boston) sold a pediatric office focused on mental health as a behavioral help facility. Twenty-eight therapists working, following all legal regulations. They were making $1 million in revenue, sold at $785,000.
[26:06] Lynn Ozer from MultiFunding explains what makes her an expert.
[28:40] Lynn talks about the current SBA programs available.
[30:35] What does it take to get an SBA loan?
[36:50] How much experience does a new buyer need?
[38:14] Lynn talks about the collateral.
[39:04] Andy and Lynn talk about the special circumstances that happened in these past couple of years and how they affected valuations.
[42:15] Why should someone choose a company like MultiFunding?
[46:27] Listing of the week: The team of Transworld Business Advisors from Oregon Central is sharing one amazing listing: An e-commerce business in the outdoor power sports industry that has been in business for over 20 years. It is making $5 million per year and $600,000 in EBITDA. The asking price is $3.5 million. Completely turn-key. Great scalable opportunity.
Andy and Jessica welcome you to another episode of The Deal Board Podcast; this time they are talking about leadership. Leadership is crucial, even when you are buying and selling a company, you even were or become the leader of that business and your skills as such are of great importance. The way of viewing leaders has changed; now people are looking for a servant leader, one that values the relationship with the employees, and prioritizes a psychologically safe environment at the workplace.
Listing of the week: Tom Alana (Fort Lauderdale) is selling an elevator repair company in the Turks and Caicos Islands; their gross revenue is about $2 million annually and their profit margins go from $600,000 to $700,000. They specialize in new installation, repair, and maintenance of elevators. The listed price is $1.95 million; they are able to do seller financing with at least a $1.2 million down payment. No residency is needed. A Canadian or European buyer would be ideal! Call Tom at (561)702-6067 or email at tom@tworld.com.
Key takeaways:
[4:59] Nate Bailey who is a Leadership Guru joins today’s conversation.
[7:25] Being a leader is mentally challenging, Nate shares some of his experiences in his leadership journey.
[9:02] Nate explains how participating in physical challenges has made him a better husband, leader, and overall a better person inside of his community.
[10:21] Nate shares his advice to young people that aim to become entrepreneurs or leaders.
[14:16] How can leaders up their game to attract and retain talent?
[16:28] How does Nate motivate people to become better leaders?
[19:57] We have underestimated the mental health toll that the pandemic has taken on people.
[21:20] How do leaders receive mental health support?
[24:13] Nate talks about what he has been working on.
[25:53] Deal of the week: Michael Snider (Cleveland West) just sold a business in the medical services industry that was doing $1.1 million in sales and the net profit margin was 40%. They received a full-price LOA. The closing process took 11 months after overcoming several challenges regarding their financial statements.
[32:55] Brian Brault, founder of Legacy of Significance.
[33:34] What does leadership mean to Brian?
[35:50] How does the role of a leader pivot in a transition-like situation?
[39:26] Brian explains why providing certainty to people is not always an option.
[40:01] Brian describes the skills needed in a leader to help reduce the stress levels of employees.
[42:07] Brian shares an example about leadership during transition times.
[45:02] Are leaders born or made?
[49:05] How can leaders strengthen their leadership muscle and even increase their emotional intelligence?
[52:29] Brian explains what Legacy of Significance is all about.
[56:12] Listing of the week: Tom Alana (Fort Lauderdale) is selling an elevator repair company in the Turks and Caicos Islands; their gross revenue is about $2 million annually and their profit margins go from $600,000 to $700,000. The price is $1.95 million; they are able to do seller financing with at least a $1.2 million down payment.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This time, to resume the topic started on Episode 121, about business valuation. First, you need to have under consideration that a business can be valued in different ways, depending on the purpose, but if your objective is to sell it, then this is the right show for you. In today’s episode, Andy and Jessica are sharing the different approaches to valuating your small-to-medium business that you are considering selling.
Listing of the week: Michael Shea (Central Florida) is selling a manufacturing business that cuts designs for walls; they are making $1 million in sales. The owner is a 23-year-old who started this great online business. Cash flow: $333,000. Priced at $650,000. Call Michael at (321) 287-0349 or email him at mike@tworld.com.
Key takeaways:
[2:09] Why do you want to value your business?
[4:03] Andy talks about the right valuations in order to get financing.
[5:10] When do you need a certified valuation?
[6:55] Andy shares the definition of Fair Market Value.
[8:25] Jessica talks about the two earnings that should be looked at in valuations.
[10:39] The first approach to valuation: The Income Approach.
[13:36] The second approach to valuation: The Asset Approach.
[15:45] If your business is not making money, it doesn’t mean you can’t sell it.
[17:05] The Market Approach is the method for valuations that is used more often to sell small businesses.
[19:55] SDE multiples have increased over the years.
[21:08] Andy shares the statistics.
[23:06] Andy talks about other factors that can affect the valuation multiple, like location, supply, or labor issues.
[23:50] What does the current market look like?
[24:26] How was the market during COVID-19?
[25:09] It is still a strong seller’s market.
[27:28] Andy and Jessica talk about overpricing.
[28:50] Case studies and examples.
[33:41] Andy shares on the Rules of Thumb, which are highly used for valuations.
[36:10] Get some outside help!
[38:13] Deal of the week: Sam Curcio (New York) sold a high-end residential cleaning company. Revenue $3 million per year. SDE $700,000, Sold at $2.175 million. Impeccable books and records! The buyer was in the industry too.
[41:18] Listing of the week: Michael Shea (Central Florida) is selling a manufacturing business that cuts designs for walls; they are making $1 million in sales. The owner is a 23-year-old who started this great online business. Cash flow: $333,000. Priced at $650,000.
[44:39] The annual Andy’s family pasta dinner!
Title: Episode 122: Writing a Book: The Next-Level Business Card with Andrew Cagnetta and Jessica Fialkovich
Subtitle: What a Book Can Do for Your Business
Description: Andy and Jessica welcome you to a special episode of The Deal Board Podcast, this time they want to share their books, this idea began one year ago when each of them has been working on the writing of their own books. Today, they talk about the learned lessons and share tips for business owners since nowadays a book is a next-level business card. Andy and Jessica share the ten lessons they learned in the process of writing their books: Closing the Deal: A Business Owner's Guide to Avoiding Pitfalls, Dispelling Myths, and Selling Your Business the Right Wayand Getting the Most For Selling Your Business: How to Get Top Dollar for the Company You've Nurtured for Years.
Listing of the week: Chris Cantwell (Colorado) is selling a business in the pool-spa-swimming industry with five locations which has been working for 30 years. It is making $20 million in revenue. Business has been doing great the past years and the projections are even stronger. Cashflow of over $1million a year. Email Chris at ccantwell@tworld.com.
Key takeaways:
[2:31] Lesson 1: Commit to the goal of writing a book.
[3:31] Lesson 2: Don’t worry about the structure at the beginning.
[4:16] Lesson 3: There is no one right way to write a book.
[5:15] Lesson 4: Just write (or speak! whatever it takes).
[6:11] Lesson 5: Ignore the word count.
[7:30] Lesson 6: Leverage technology.
[8:40] Lesson 7: Get professional help.
[12:28] Lesson 8: Use Amazon and Kindle’s direct publishing site.
[12:38] Lesson 9: You need to market the book.
[14:23] Lesson 10: Celebrate the launch!
[18:24] Kevin Daum and Anne Mary Ciminelli talk about the process they use to get Jessica’s book out.
[18:50] Why is it important for business owners to have a book?
[21:50] Anne Mary talks about the organization part of writing a book.
[23:19] Anne Mary and Keving talk about the biggest benefits of having a team to write a book.
[28:31] Writing a book is a way of talking to your audience.
[31:46] Anne Mary and Kevin share tips for those business owners who want to become authors.
[34:39] You have to divorce the emotion from your book and look at it tactically.
[35:07] Self-publishing vs. Trade publisher.
[39:49] Anne Mary and Kevin share suggestions for business owners considering entering the writing space.
[43:57] Deal of the week: Robert Cunio (San Diego) sold a mental health counseling business and its real estate, sold in $500,000 to a strategic buyer.
[45:40] Bruce Corris (BMD Publishing).
[49:20] How typical is the process of writing a book?
[51:49] Andy shares his interest in helping customers make an informed choice when buying or selling a business.
[54:50] Bruce explains why writing a book is not about sitting and writing every day.
[58:22] Bruce shares how the industry of publishing a book has changed.
[1:00:54] The process of writing a book is better when you have the help of an expert.
[1:03:15] Listing of the week: Chris Cantwell (Colorado) is selling a business in the pool-spa-swimming industry with five locations which has been working for 30 years. It is making $20 million in revenue. Cashflow of over $1 million a year.
[1:04:24] Randy Bring (Florida) became an International Business Brokers Association Chairman.
[1:06:07] Giving back to the community is at the center of Randy’s work.
[1:06:59] Andy and Randy talk about the upcoming IBBA Conference in May.
Title: Episode 121: What Is My Business Worth? Part 1 with Andrew Cagnetta and Jessica Fialkovich
Subtitle: All You Need to Know About Recasting
Description: Andy and Jessica welcome you to another episode of the Deal Board Podcast. Three years of episodes have been aired; today there are many new listeners and subscribers that haven't heard all the episodes and that is why Andy and Jessica will go back and update on some of the most popular topics in buying and selling a business. In today’s episode, which is the first of two parts, they are discussing, along with the experts, one of the most common questions every business owner has: “What is my business worth?” and to begin, they are diving deep into the topic of recasting.
Listing of the week: JT Tatem (South Carolina) is selling a 20-year landscape company that has done $6 million in revenue, $1 million in EBITDA, $4.5 million purchase, 35 people, five key managers in place. Email JT Tatem at jttatem@tworld.com.
Key takeaways:
[1:30] What is recasting? Some companies do their financing focusing on minimizing taxes; in the recasting process, the financials are recast so that information can be compared from business to business.
[2:56] Andy talks about the difference between recasting in small and big businesses.
[4:18] EBITDA or selling discretionary earnings?
[6:50] The non-taxable items: Interest, taxes, depreciation, and amortization.
[7:24] Jessica talks about the owner’s salary.
[8:12] Andy dives deep into the officer’s payroll taxes.
[9:35] A bank will accept as an add-back anything that is not a business expense, if it helps the business to operate it can’t be added back.
[9:58] Andy and Jessica talk about add-backs, starting with owner “perks.”
[11:51] What if you don’t own the real estate?
[12:02] Rent: Owners who own the real estate and rent it back to themselves, most of the time it does not reflect market rent (positively or negatively).
[13:23] Jessica shares non-essential payroll family members.
[14:00] Andy talks about one-time exceptions in regards to add-backs.
[14:36] Jessica talks about dues and subscriptions.
[15:00] Bad debt.
[17:23] Jessica shares an example.
[18:00] Jessica and Andrew talk about leases that will be repaid at closing.
[18:19] What happens when a business has an unusual income or a penalty?
[19:22] Ask about any large number (increase or decrease).
[23:55] Ray Skaug (Rainier Business Intelligence).
[25:03] How can I build my understanding of the company? Dig into the numbers if you want to become more aware of the business.
[26:56] Ray talks about how many previous years a business needs to go back while recasting, Ray suggests going back four or five years.
[28:08] How to start normalizing the data?
[31:11] The goal of a recast is to predict the future.
[33:39] Ray talks about some “doubtful” add-backs.
[38:50] Ray shares his advice to sellers and buyers as they approach recasting.
[39:34] Ray gives an insight into what his company does.
[43:18] Deal of the week: Justin Lefebure (Central Florida) sold a very interesting deal, a fencing company listed at $500,000, making around $300,000.
[46:14] Julie Greeley (Lake Lanier) shares her background.
[49:18] What is the first approach when bookkeeping is a mess? Julie gives recommendations.
[53:15] Julie talks about recasting and gives tips to buyers to learn how to read them.
[55:20] Julie often asks for four years of recasting (discounting 2020 due to COVID-19).
[57:11] What should you do if you are planning to sell in a couple of years? Julie answers with a great couple of examples.
[1:01:35 ] Julie suggests “Honesty is best when it comes to your accounting.”
[1:03:03] Listing of the week: JT Tatem (South Carolina) is selling a 20-year landscape company that has done $6 million in revenue, $1 million in EBITDA, $4.5 million purchase, 35 people, five key managers in place.
Description: Andy and Jessica welcome you to another episode of The Deal Board Podcast, as part of the New Year’s episode, they are interviewing some of the top performers of Transworld’s network, those who achieved the extraordinary goals they set for themselves in 2021. Also, JT Tatem joins this episode as a recurrent guest to share valuable goal-setting techniques that will help you to conquer your objectives.
Listing of the week: Lauren Altschuler (Minnesota) is selling a paper distribution business doing $10 million in revenue. They have 20 employees locally and work with a variety of industries, including the municipality. SDE: $1.5 million. 10% seller financed. Prequalified for SBA loan. $573,000 downpayment. Call Lauren at (612) 719-4458 or email laltschuler@tworld.com.
Key takeaways:
[1:22] JT Tatem joins this episode to talk about goal-setting.
[2:20] How to regroup and start 2022 with the strongest energy.
[3:40] Control what you can control.
[5:35] Start a list for everything you want to be, do, or have.
[6:40] What do I have to become before I can do and have the things on the list?
[8:01] Determine your personal core values which are the ones that will bring alignment to the things we are going to do and have.
[10:44] What would you like people to say about you at your funeral?
[16:06] When you start with the “be list” then when you create the goals you have something to test them against.
[18:38] The core of who you are won’t change through the years.
[20:10] Once you have your Do and Have lists, write one sentence for each one as to why.
[25:02] Start the best self journal.
[27:55] Peter Berg talks about his own goal-setting strategy.
[31:48] Peter shares his goals for the past few years.
[37:24] Peter talks about his predictions for 2022.
[39:32] During the first quarter of the year, concentrate your efforts on building a good book of inventory.
[40:40] Peter shares his suggestion about goal setting for 2022.
[42:15] Deal of the week: Pam Vincent (North DFW) New Orleans transportation, trucking company which transports sand and cement. They ended 2021 with strong revenues. The sellers will get a $10,000 monthly check for ten years. Sold for $1.5 million.
[43:56] Top Performer: Linda Broom (DFW Dallas) talks about the achievement of a great goal she set for herself in 2021.
[46:51] Linda shares what motivated her during the year to keep herself focused.
[51:10] Linda gives her suggestions for everyone struggling setting up goals.
[53:10] Linda is upgrading her goal for 2022!
[54:15] Top Performer: Matt Manavi talks about his professional career.
[55:36] Matt has not only achieved his goal but went over it two-and-a-half times.
[56:10] What helped Matt to stay motivated?
[58:49] What should I be doing to succeed? Build significant relationships.
[59:56] There were multiple times Matt thought his goal was out of reach, but persistence got him to stay concentrated on his goal.
[1:02:54] Matt wants to build his office in 2022 to train other agents to sell businesses.
[1:04:52] Thomas Milana (South Florida) reached his goals in 2021.
[1:06:28] Thomas talks about one personal goal he also achieved.
[1:12:12] Thomas shares his goals for 2022.
[1:15:18] Listing of the week: Lauren Altschuler (Minnesota) is selling a paper distribution business doing $10 million in revenue. SDE: $1.5 million. 10% seller-financed. Prequalified for SBA loan. $573,000 downpayment
Andy and Jessica welcome you to another episode of The Deal Board Podcast, and this time, as in the previous two years, they want to begin this new year with their predictions in regards to the business and sales market. They are bringing 10 predictions for 2022 and small business owners, especially for those who are looking to buy or sell a company.
Listing of the week: Randy Bring, is selling a Salon Suite Business, 10,000 square feet with 56 individual salons. It is essentially absentee-owned, it is estimated that owners work four hours a week. Priced at $1 million, 50 thousand; tax returns show from $250,000 to $300,000; prequalified with an SBA lender. 15% down payment. This is a growing business that bloomed even during the pandemic. Call Randy at (561) 809-1500 or email him at randy@tworld.com
Key takeaways:
[2:06] Prediction No.1: Capital Gains are not going to go that high (max. 25%).
[4:10] Prediction No. 2: Tax changes are not going to be retroactive.
[5:46] Prediction No. 3: There is still going to be ample cash in the market.
[7:37] Prediction No. 4: 2022 will be a great time to sell.
[9:36] Prediction No. 5: It is still going to be a seller’s market in 2022.
[11:30] Prediction No. 6: Inflation will ease in 2022 (as well as the supply chain issues).
[13:26] Prediction No. 7: GDP will continue to grow in 2022.
[14:30] Prediction No. 8: COVID-19 is not going to be the main factor in business in 2022.
[16:30] Prediction No. 9: Labor issues will ease.
[19:39] Prediction No: 10: More sellers are going to come to the market as a result of the “seller’s tsunami.”
[22:22] More sellers will come to the market in 2022 and buyers will have a better opportunity.
[24:02] Heather Geronemus (UKG)
[24:44] Heather shares a little background about UKG and herself.
[26:43] Heather talks about how UKG started its own foundation.
[27:40] Heather shares why they decided to join The Pasta Dinner this year.
[30:04] Deal of the week: Aaron Fox (Boston) sold a unique business to a special buyer.
[31:28] Austin Roy Titus, president of Network Lead Exchange talks about his low-cost franchise opportunity.
[33:05] Listing of the week: Randy Bring, is selling a Salon Suite Business, 10,000 square feet with 56 individual salons. Priced at $1 million, 50 thousand; tax returns show from $250,000 to $300,000; prequalified with an SBA lender. 15% down payment.
[37:37] Grant Ferguson from Unsecured Funding Source.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
UKG
Network Lead Exchange
Unsecured Funding Source
Contact Aaron Fox at aaron@tworld.com or call (781)773-8922.
Call Randy Bring at (561) 809-1500 or email him at randy@tworld.com.
Tweetables:
“More people will want to be business owners through acquisition in 2022.” #thedealboard #transworldbusinessadvisors #2022 #business
“Small and mid-sized businesses are going to use even more technology and automation to be more efficient in their operations.” #thedealboard #transworldbusinessadvisors #predictions #2022 #business
“The COVID-19 crisis put people’s priorities in order.” #thedealboard #transworldbusinessadvisors #predictions #2022 #business
Andy and Jessica welcome you to the last episode of 2021 of The Deal Board Podcast. You need to get ready to sell your business since 2022 might be the year where the market turns from being a sellers’ market to a buyers’ market and you’ll have to make a decision; anyway, it is best to be prepared to sell your business at any time!
Listen to this episode where Andy and Jessica guide you through the four necessary steps to have your business ready for sale.
Listing of the week: Austin Higgins (Asheville) is selling an e-commerce business. Asking price, $187,000, (Two-and-a-half times multiple). For more information email Austin at ahiggins@tworld.com or call (702) 443-5012.
Key takeaways:
[2:25] Step 1: Know your business’s worth.
[4:59] Step 2: You really need to clean up your finances.
[8:18] Step 3: Be ready to act quickly.
[11:15] Step 4: Have the right advisor team in place.
[16:01] Elliott Holland (Guardian Due Diligence)
[16:33] What can business owners do better to make their business look better?
[18:12] Elliott talks about the costs for audits.
[19:53] Clean up your balance sheet!
[20:49] Refinance your debt.
[21:01] Get your taxes in order.
[21:15] Get an accurate list of your inventory.
[23:06] Show some profit on your taxes.
[23:44] Elliott talks about complicated debt.
[25:43] Include a cash flow statement.
[28:10] Elliot talks about what makes a business look consistent, and what doesn’t.
[29:30] Is it too late to fix 2021 now?
[31:04]Deal of the week: Dustin Audet (Colorado) sold a 37-year-old beverage distribution business; 80 employees, two warehouses, great revenue.
[32:14] Listing of the week: Austin Higgins (Asheville) is selling an e-commerce business. Asking price, $187,000, (Two-and-a-half times multiple).
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com.
Call Dustin Audet at (970) 618-9330.
Email Austin Higgins at ahiggins@tworld.com or call (702) 443-5012.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This time they are talking about getting ready for the post-closing transition; they bring a variety of interviews and experts on the show that will talk about some of the issues that can come immediately before closing or after closing.
Listing of the week: Andy Shah (Richmond) is selling a Beauty Brand Company based in Northern Virginia that has been in business for more than 20 years, listed at $10 million, a great opportunity for a buyer who wants to grow the business. They do everything in-house. Revenue of $1.5 to 2 million. Call Andy at (804) 894-0679 or email ashah@tworld.com.
Key takeaways:
[3:53] Russell Hollrah (Hollrah LLC) talks about his professional career.
[5:26] What does Rusell see currently in the marketplace?
[6:59] What might independent contractors not be doing right?
[8:06] What are the best practices if you are an independent contractor?
[9:17] How does a company get in trouble?
[10:58] Russell talks about the penalties for violating an independent contractor agreement.
[12:05] What does Rusell see in the near future as far as employers having to change their business models?
[14:43] Russell talks about how his company can help companies stay protected.
[16:01] Russell gives his advice to owners of businesses.
[18:11] Deal of the week: Michael Shea (Central Florida) sold a 31-year-old healthcare staffing company based in Central Florida; the owner was about to close the business but ended up selling at $1.5 million, full-cash offer.
[21:01] Jake Kent (Acquisition Lifeguards) talks about his professional career in IT.
[24:28] Jake talks about the extent of work that The Acquisition Lifeguards cover.
[25:28] When looking to roll up or buy other businesses, which company wins, the person with the better technology or the one that is bigger?
[27:41] What is Jake looking for when he goes into a company? Jake gives advice even to small business people.
[32:02] Jake gives tips for people thinking about selling or purchasing.
[35:40] Listing of the week: Andy Shah (Richmond) is selling a Beauty Brand Company based in Northern Virginia that has been in business for more than 20 years, listed at $10 million. Revenue of $1.5 to 2 million.
[38:20] Ken Greene, President of Greene Finance and Insurance, gives a little background about himself.
[41:14] Ken talks about what is going to happen with the increased capital gains.
[45:31] Ken admits no one has a crystal ball to predict what will happen in the stock market but gives his point of view about the current political and financial tendencies.
[49:05] Small business people are being hurt by the current financial decisions.
[50:25] Andy shares why it is now the best time ever to sell your business.
[53:35] What is Ken telling his clients?
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Hollrah LLC
Call Rusell Hollrah at (202) 659-0878 or email rhollrah@llc.com
Contact Michael Shea at (321) 287-0349 or email mike@tworld.com
Acquisition Lifeguards
Engineer of Finance Podcast
Andy and Jessica welcome you to another episode of The Deal Board Podcast. This time, they talk about the current market’s features and all the details a buyer should know when seeking a business, and they share great tips and advice for sellers. Andy and Jessica are accompanied by experts in the industry from all across the country, Randy Bring, Gerald Brisson, Steven Hanson, and Scott Hislop, to answer the very frequent question: What would you look for in a business?
Listing of the week: Rick Kittay (Florida) is selling a 52-year-old manufacturing business in Florida; they make commercial key switches for the garage door industry. Listing Price: $750,000 (Including 4,000 square foot property). SBA pre-approved. Call Rick at (954) 401-4115 or email rickkittay@tworld.com
Key takeaways:
[2:20] Randy Bring (Fort Lauderdale).
[2:38] Gerald Brisson (Texas).
[3:30] Steven Hanson (California).
[4:12] Scott Hislop (Minnesota).
[4:39] What is driving the industry and competition right now? What makes a hot business?
[9:13] What is the number one thing that can prevent a sale from the buyers’ side?
[15:18] What would the experts look for in a business?
[23:10] What are the less experienced buyers looking for?
[24:24] What should sellers be thinking in a hot market like the current one?
[35:30] Deal of the week: Bill Kelly (Richemont) sold a 40-year-old auto body business in only 90 days. The listing price was $2.9 million and it was sold at $2.6 million.
[39:44] Listing of the week: Rick Kittay (Florida) is selling a 52-year-old manufacturing business in Florida; they make commercial key switches for the garage door industry. Listing Price: $750,000 (Including 4000 square foot property). SBA pre-approved.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Call Gerald Brisson (Houston Texas) at (832) 585-3765 or email gbrisson@tworld.com
Call Steven Hanson (San Diego North, California) at (760) 607-0642 or email shanson@tworld.com
Call Randy Bring (South Florida) at (561) 809-1500
Call Scott Hislop (Minnesota) at (507) 340-4219 or email shislop@tworld.com
Call Bill Kelly (Richemont) at (804) 511-3000 or email bkelly@tworld.com
Call Rick Kittay at (954) 401-4115 or email rickkittay@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they are talking about immigration and how things have changed due to the COVID-19 pandemic. Andy and Jessica are accompanied by the experts: Michael Shea from Transworld’s Orlando Office and Lisa Krueger Khan, Immigration Attorney who has been practicing in Orlando since 1997.
Listing of the week: Marty Fishman (South Florida) is selling a pool maintenance business creating $3,000 monthly revenue, it has three routes, three employees, and three vehicles. The business generates $450,000 a year. The owner is looking to retire. Price: $285,000. Email Marty at mfishman@tworld.com or call (954) 296-2995.
Key takeaways:
[1:40] Lisa talks about herself and her practice.
[2:47] Michael Shea introduces himself by talking about himself and his practice.
[3:49] Lisa provides a general overview of the E2 Visa as it stands today.
[14:02] How do the Visa programs affect the seller of a business? Why should a seller work with a broker who understands these programs?
[16:33] Michael talks about submittal and expected timeframes.
[21:55] Lisa discusses the travel bans and their exemptions.
[25:42] How are the COVID-19 restrictions and travel bans affecting international buyers?
[30:21] Lisa extends her advice to international buyers who are interested in investing in the U.S.
[33:07] The E2 and the green card are not really related.
[36:12] Michael gives suggestions to the sellers who want to attract the attention of international buyers.
[44:01] Deal of the week: David Wechsler (Colorado) recently closed a transaction on a well-established plumbing and mechanical business that has been in business for more than 30 years. The buyer made a full-price offer within 24 hours. The business was sold for $1.35 million with an SBA loan and an initial payment of only $25,000.
[52:12] Listing of the week: Marty Fishman (South Florida) is selling a pool maintenance business creating $3,000 monthly revenue, it has three routes, three employees, and three vehicles. The business generates $450,000 a year. The owner is looking to retire.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Learn more about Lisa Krueger Khan
Email Lisa Khan at lisa@lisavisa.com
Learn more about Michael Shea
Email Michael Shea at mike@tworld.com and visit his YouTube Channel
Call David Wechsler at (303) 526-8239 or email him at david@tworld.com
ContactMarty Fishman at mfishman@tworld.com or call (954) 296-2995
Andy and Jessica welcome you to another episode of The Deal Board, and today they are discussing a very important topic for small businesses, which is the difficult task of hiring employees. If you are wondering how you can find, hire and retain the right people, and how you can protect yourself as an employer in this ever-changing employment environment, this episode is just what you need.
Experts from sourcing and recruiting are joining Andy and Jessica today to share valuable information that you can put into action right away to ease your journey into hiring employees.
Listing of the week: Al Fialkovich (Colorado) is selling a concrete business that is making over $2 million in earnings per year. Price: $5.9 million (real estate can be included). Call Al at (720) 357-6853 or email albert@tworld.com.
Key takeaways:
[5:43] Dave Bacon (BWBacon Group) talks about his career journey.
[7:23] Remote hiring has absolutely changed the game!
[8:50] Most people want remote jobs and nowadays they can demand them.
[10:35] There are more jobs than there are people looking for work.
[11:34] Dave talks about the matter of salaries.
[13:13] Does a four-day workweek suit your personal needs?
[15:41] Dave speaks about creative techniques to attract better talent.
[20:20] Sign-up bonuses can be a great motivation.
[22:04] Recruiting can be hard but it is incredibly rewarding.
[24:22] Dave explains why BWBacon is one of the best places to work in Colorado.
[25:58] How to manage candidates in the new concept of “pipeline management”?
[26:30] Can your interview process change to become more efficient?
[29:40] How are the candidates during the hiring process? Ask them for feedback.
[30:46] Dave shares his words of wisdom about the mindset that employees should have right now: Resilience is the way to get through this.
[34:55] Deal of the week: Sasha Borcic (Colorado) sold a high-end mental health outpatient practice located in Denver that started in 2012 and provides services for teens and adults. The buyers were interested in the full-time employees of the business. 100% SBA financed. Purchase Price: $350,000 (3.15 multiple).
[37:44] Royal F. Oakes (Hinshaw and Culbertson)
[38:59] Royal F. Oakes talks about today’s challenges, especially the fear of getting sued when firing an employee.
[41:22] The cost of litigation can be devastating for a company.
[42:30] Insurance can be a great coverage and way to protect your best interest in case of getting sued for an employment-related matter.
[43:58] Seek a lawyer who specializes in the matter you are struggling with.
[46:53] Royal F. Oakes talks about the matter of vaccination of employees.
[48:30] Royal F. Oakes speaks about the classification of workers and the issue of “independent contractors.”
[53:13] Make sure your procedures are rigorously followed and comply with the current law.
[53:53] Royal F. Oakes shares on the controversial topic of raising the minimum wage.
[56:15] Royal F. Oakes gives his advice for small business owners to stay out of travel.
[59:26] Listing of the week: Al Fialkovich (Colorado) is selling a concrete business that is making over $2 million in earnings per year. Price: $5.9 million (real estate can be included).
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
BWBacon
Dave Bacon on Instagram
Email Sasha Borcic at sborcic@tworld.com or call (720)780-8665
Listen to Royal F. Oakes’ podcast: Too Many Lawyers
Royal F. Oakes on Twitter
Call Al Fialkovich at (720)357-6853 or email albert@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today’s episode, they are discussing what to do when, without anticipation, the seller or the buyer is forced into a negotiation and how to slow down and strengthen your position in order to reach the best possible outcome. They are also accompanied by Aurora Winter, who is an expert in human communication, which is really the basis for everything we do, both in life and in business.
Listing of the week: Marty Fishman (South Florida) is selling sign, print, and specialty vehicle rep business established for 12 years; the owner is ready to retire and has hundreds of clients. The business is making over $1 million in sales and $275,000 of profit. The owner is asking for a 50% down payment. Call Marty at (954) 296 2995 or email mfishman@tworld.com
Key takeaways:
[1:57] Tip #1: Stay silent and calm.
[2:58] Tip #2: Walk away.
[4:06] Tip #3: Ask a calibrating question.
[5:32] Tip #4: Setting an extreme anchor.
[6:44] Tip #5: You can pivot.
[8:50] Tip #6: Flinch! Show you are in some kind of distress.
[14:22] Deal of the week: Gary Goldwasser (Rocky mountain) just sold an advertising agency to a strategic buyer who was also in the advertising industry, with an SBA loan; it sold at three times SDE. Price: $500,000.
[15:54] Aurora Winter joins the podcast to share some tips about the art of negotiation.
[16:34] Aurora shares about her career journey.
[17:49] What does it mean to communicate more powerfully?
[20:34] Why do people tend to overlook the power of communication?
[22:08] Aurora talks about the neuroscience of communication.
[24:06] How to communicate with the reptilian brain first, then the midbrain (the social one), and later with the part that makes the decisions.
[28:20] People buy with emotion.
[29:10] Look for the right fit.
[29:40] Aurora shares a great story.
[33:50] Aurora shares another example.
[35:18] Learning to negotiate and communicate is a process, you need to continuously practice it.
[35:56] Aurora speaks about the importance of framing.
[39:01] Aurora talks about her latest book.
[40:27] Listing of the week: Marty Fisherman (South Florida) is selling sign, print, and specialty vehicle rep business established for 12 years; the owner is ready to retire and has hundreds of clients. The business is making over $1 million in sales and $275,000 of profit. The owner is asking for a 50% down payment. Call Marty at (954) 296 2995 or email mfisherman@tworld.com
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Never Split the Difference: Negotiating As If Your Life Depended On It, by Chris Voss with Tahl Raz
Email Gary Goldwasser at ggoldwasser@tworld.com or call (303)740-7420
Check Aurora Winter’s published books
Aurora Winter on Linkedin
Call Marty Fishman at (954) 296 2995 or email mfishman@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today, they are accompanied by the experts to talk about earnouts, answering questions such as: What is an earnout? Why are earnouts good for the buyer and the seller? How do earnouts get paid? How do you structure them? as well as nine reasons to consider an earnout. Deborah Carman and Leanne Erwin share their knowledge on this important matter, explaining in detail how earnouts work, what risks are involved, and how to mitigate them.
Listing of the week: Patrick Bombardiere (Colorado) is selling one of the largest industrial and commercial tire and service businesses that has been in business for 21 years. The business and the real estate are for sale; it has 18 employees. Owners are ready to retire. EBITDA: $550,000. Sale Price of the business: $3.7 million. Price of the real estate: $2.2 million. Contact Patrick (303) 929-9219 or email him at patrick@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today they share their excitement about the future, with so many opportunities and businesses that are blossoming Transworld’s offices have been busier than ever. Andy and Jessica are diving deep into how owners and buyers can take advantage of the current prosperous environment.
Today, fifteen months after the pandemic began, we are all seeing a flourishing market and also noticing that many people are still struggling to get back to the pre-pandemic ways of making business. Wake up! The economy is booming, there are still plenty of credits and money on the streets, and there are a lot of opportunities waiting for you; this episode is filled with tips to ease your way back into the market while promoting a positive culture following the suggestions of today’s amazing guest, Kim Sweers.
Listing of the week: Aaron Fox (Boston) offers a unique deal! Thirty-five years ago the founder built a 32-room assisted living facility on a nonprofit basis; now he wishes to retire. During the closing process, this living facility will be converted into a for-profit business. Price: $2.3 million (business and profit included). Call Aaron at (781)773-8922 or email aaron@tworld.com.
Key takeaways:
[4:00] Tip #1: Try new things.
[5:52] Tip #2: Differentiate your business by working hard.
[7:30] Tip #3: Get face-to-face.
[9:05] Tip #4: Know your stuff.
[11:39] Tip #5: Timing is everything.
[14:15] Tip #6: Seek out the performers in your desired industry and ask them questions.
[16:33] Tip #7: Be consistent and persistent.
[18:50] Tip #8: Communicate your goals.
[20:13] Tip #9: Be strategic.
[22:56] Don’t worry about failure or rejection; people are much more tolerant these days.
[26:05] Kim Sweers, from FB Marine Group, shares how she started and how she got to where she is today.
[30:29] Kim talks about what it takes to build a good culture.
[32:51] Tip #1 to build a positive culture: Be empathetic.
[33:40] Tip #2 to build a positive culture: Be transparent.
[35:02] Tip #3 to build a positive culture: Encourage your employees to make decisions.
[36:01] Tip #4 to build a positive culture: Training is a must.
[37:23] Kim talks about how business is now and what the plans are for the future.
[40:30] Kim shares how FB Marine group is giving back to the community.
[43:15] Deal of the week: Patrick Bombardiere (Colorado) sold a small landscaping and lawn business. Trade was done for the business; the buyer gave a house as payment.
[45:38] Listing of the week: Aaron Fox (Boston) offers a unique deal! Thirty-five years ago the founder built a 32 room assisted living facility on a nonprofit basis; now he wishes to retire. During the closing process, this living facility will be converted into a for-profit business. Price: $2.3 million.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
FB Marine Group
Kim Sweers on Linkedin
Kim Sweers on YouTube
Call Aaron Fox at (781)773-8922 or email aaron@tworld.com.
Andy and Jessica just got back from the first Transworld Conference in almost two years; the energy and the excitement of being able to get together again with franchisees and brokers were tangible! The fact that this event took place is another sign of the notorious reactivation of the economy. Everyone has been busy; it seems that we are all right back on after the limitations the pandemic has imposed on us.
Andy and Jessica are sharing today about how to get deals done in this very particular time and they are joined by Brian Ahearn from Influence People LLC to talk about the psychology behind why some deals end up positively and some don’t. Brian is one of only a dozen people in the world certified to teach the Cialdini Method of persuasion, you can’t miss what he has to say!
Listing of the week: Special Announcement! Transworld Business Advisors has expanded to Canada with offices in Ontario and Calgary. Waldemar Halek (Ontario) is selling a stone fabrication business that has been running for 20 years. Located in SouthWestern Ontario. Listing price: CA$5.2 million. Annual Sales CA$6.5 million. SDE: Over CA$1 million. EBITDA: CA$840,000. Inventory is included and it’s worth over CA$1 million. Contact Waldemar through Tworld.com/Ontario, call (647) 946-2605, or email tbontario@tworld.com.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Brian Ahearn on LinkedIn
Influence People LLC
Contact Tony Khoury at (252) 347-9606 or email tkhoury@tworld.com
Contact Waldemar Halek through Tworld.com/Ontario, call (647) 946-2605, or email tbontario@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board; this time they are talking about due diligence. Elliott Holland is joining today’s episode, Elliott is the owner of a company that specializes in due diligence, and he is sharing what his company does. Part of the issue with due diligence is having the time to do it and that is why hiring a company that specializes in it is crucial. Due diligence is an inspection period for a business but it involves much more than just the financial aspect of it. Listen to his episode and learn all you need to know about due diligence.
Listing of the week: Chris “Chip” Redmond (Central Florida) is selling an HVAC company located in Northeast Orlando, it has been in business for 11 years, run by a retired marine. P&L: $2.5 million. The company made $2.2 in gross sales in 2019. Showing an awesome growth year, past year. Amazing reviews on Google. Listing price: $1.55 million. Call Chip Redmond at (321) 219-6867 or email chrisredmond@tworld.com.
Key takeaways:
[1:15] Jessica explains what due diligence is.
[1:42] What do people look for in financial due diligence?
[3:22] Andy talks about due diligence in small vs. big businesses.
[3:52] You will need a partner to run the process of due diligence.
[5:17] Part of due diligence is doing a lien search.
[6:18] Environmental issues need to be contemplated.
[7:15] You will find things during due diligence that don’t match up.
[8:12] No business is perfect.
[13:17] Elliott Holland from Guardian Due Diligence
[14:06] Top five mistakes people make in due diligence.
[19:42] Elliott talks about what he does and the different levels of due diligence.
[23:38] How long does it take to do due diligence in a business worth half a million to 5 million dollars?
[27:10] Elliott highlights the benefits of hiring someone specialized in due diligence to do the work.
[29:12] Guardian Due Diligence works all around the nation.
[31:22] Deal of the week: JT Tatem ( North Carolina) sold a medical massage therapy business SDE: $110,000 per year. The listing price was $260,000 and it was sold for $251,000.
[33:45] Allan Kaye talks about the trends in the commercial real estate business.
[34:48] The real estate and the business can have different values.
[35:17] Now is a great time to get financing since the rates are still low.
[38:38] It is a great time to sell commercial real estate and business all together.
[39:45] Listing of the week: Chris “Chip” Redmond (Central Florida) is selling an HVAC company located in Northeast Orlando, it has been in business for 11 years, run by a retired marine. P&L: $2.5 million. The company made $2.2 in gross sales in 2019. Listing price: $1.55 million.
[43:03] Darren Mize from GCF Valuations talks about his business.
[44:12] How are businesses being valued right now?
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Guardian Due Diligence
Elliott Holland on Linkedin
Email Allan Kaye at akaye@tworld.com
Call Chip Redmond at (321)219-6867 or email chrisredmond@tworld.com
GCF Valuations
Tweetables:
“Let’s not treat incidents as catastrophes neither catastrophes as incidents“ #thedealboard #transworldbusinessadvisors #duediligence #business
“There is no perfect business out there.” #thedealboard #transworldbusinessadvisors #duediligence #business
“Due diligence is about asking: Do customers like this business?” #thedealboard #transworldbusinessadvisors #duediligence #business
Andy and Jessica welcome you to another episode of The Deal Board Podcast; this time, they are sharing the 10 reasons why this is a great year to sell in a market that has never been seen before. They are accompanied by Peter Lehrman, sharing his pulse on the M&A market. Peter is the CEO of AXIAL, which is an M&A portal that helps buyers and sellers make deals, and is a great partner of Transworld Business Advisors.
Listing of the week: Sam Curcio (New York) is selling a clothing retailer with three locations that offer a green solution to clothes shopping, which is the vintage and second-hand market. They do 20% of their sales online, which can be expanded. Total sales: Over $3.5 million. SDE: Over $1.6 million. Asking Price: $8 million with a downpayment of $6.5 million. The business is prequalified by two SBA lenders. It comes with $225,000 worth in inventory. This business has been working for the last 10 years. Call Sam Curcio at (646)470-9433 or email scurcio@tworld.com.
Key takeaways:
[1:40] Reason #1: Inventory is low (historically low!)
[2:34] Reason #2: If your business is making money it is the time to go!
[2:52] Reason #3: Because there is less inventory, valuations are creeping up.
[3:37] Reason #4: Interest rates are low.
[4:20] Reason #5: There is tons of money on the street.
[6:07] Reason #6: It is not always going to be a great time to sell.
[8:45] Reason #7: More business disruption is on the way.
[10:59] Reason #8: Hiring opportunities are scarce.
[12:30] Reason #9: Haven’t we seen enough? It is time to go!
[14:40] Reason #10: Life is short.
[16:18] Peter, founder of AXIO.
[17:44] Peter shares the story of AXIO.
[19:55] Peter shares why the market is great right now.
[23:03] What are the trends in 2021?
[26:30] What does Peter see moving forward?
[31:20] The average sale price increased by 40% to 50%.
[34:57] Peter talks about private equity historically.
[38:53] Deal of the week: Jessica Starks (Michigan) closed a business on metal artwork that ships its products throughout the USA. The buyer was a small equity group looking to grow small to medium size businesses. Price: $5 to 6 million range.
[42:45] Listing of the week: Sam Curcio (New York) is selling a clothing retailer with three locations in the vintage and second-hand market. Total sales: Over $3.5 million. SDE: Over $1.6 million. Asking Price: $8 million with a downpayment of $6.5 million. The business is prequalified by two SBA lenders. It comes with $225,000 worth in inventory.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
AXIAL.com
Call Jessica Starks at (517) 492-0039 or email jstarks@tworld.com
Call Sam Curcio at (646)470-9433 or email scurcio@tworld.com.
Tweetables:
“When inventory is low, there is less competition for your business.” #thedealboard #transworldbusinessadvisors #business #timetosell
“Some of the sellers have better businesses today than they had 12 months ago” #thedealboard #transworldbusinessadvisors #business #timetosell
Andy and Jessica welcome you to another episode of The Deal Board Podcast. Today they are talking about an important subject for all small businesses: Cybersecurity.
Cyber hacking has equally been affecting big and small businesses. Today’s guests are experts in this field, who are talking about how to protect your business from cyber hackers.
Christian Espinosa is a cybersecurity expert who built and sold a company where he worked on protecting bigger companies against cyber hacking; in today’s interview, he highlights the importance of training people to make sure everyone is taking the right actions to achieve a safer business environment. Michael Drath is Vice President at Magaya Insurance Services Inc., an insurance provider, who has been working along with Transworld Business Advisors assuring safe transactions. Michael provides help to his clients for them to be covered with cybercrime insurance and remain safe during all business deals.
Listing of the week: Jenna Porzillo (Bel Air, Maryland) is selling a nationally known franchise specialized in restoration where the leads come automatically to you since they work with insurance companies that provide all clients. Call Jenna Porzillo at (443) 694-5013 or email jporzillo@tworld.com.
Key takeaways:
[6:43] Christian Espinosa shares about himself and his journey as an entrepreneur.
[8:20] What is the cybersecurity war?
[10:25] How the cybersecurity issue may affect a small business.
[12:53] How can the “smartest person in the room” mentality be combated?
[15:50] Christian shares about the process of selling his business.
[17:52] Christian shares the lessons he learned during the sale process.
[20:01] Christian talks about his current focus and plans for the next two years.
[22:11] Deal of the week: Chris Bruner and Bill Kleinschrodt (Gulfcoast) sold a microbrewery expanding along the East Coast. Great location and assets. List price: $1.4 million, buyers made an offer of $1.35 million and close in three weeks.
[26:38] Michael Drath talks about his career journey.
[28:26] What kind of cyber risks are there for businesses?
[29:50] Where does the liability fall in a cybersecurity issue?
[31:40] What is the first step that business owners should take?
[34:06] Michael talks about the industries that must have these policies in place against cyber hacking.
[38:14] Michael extends his advice for business owners wishing to take the first step to assure their cybersecurity.
[41:08] Listing of the week: Jenna Porzillo (Bel Air, Maryland) is selling a nationally known franchise specialized in restoration where the leads come automatically to you since they work with insurance companies that provide all clients.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us at thedealboard@tworld.com
Learn more about Christian Espinosa.
The Smartest Person in the Room: The Root Cause and New Solution for Cybersecurity, by Christian Espinosa
Email Chris Bruner at cbruner@tworld.com or call (251) 237-1030.
Email Michael Drath at mdrath@magayainsurance.com or call (786)363-0497 or (954) 873 7997.
Call Jenna Porzillo at (443)694-5013 or email jporzillo@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board. They are talking today about the current state of the economy and what is going on in the business sale market as well as in the real estate market. Prices are up, inventory down, and valuations up; a one-of-a-kind and surprising scenario is arising after the pandemic. Andy and Jessica are diving deep into the state of the market, now that the first quarter numbers are coming up and trends are appearing.
Listing of the week: John Fullerton (Omaha) is selling a top-rated, and one of the fastest-growing franchises, with more than 150 locations and it has been in business for over 15 years. Restaurant and bar, with a gorgeous outdoor patio and great location! Great potential to grow! Price: $189,000. This deal is one of a kind! Contact John at (402) 213-9945 or email jfullerton@tworld.com
Key takeaways:
[2:37] Andy shares valuable statistics.
[3:26] Jessica talks about the migration patterns and their influence on the business sale market.
[4:15] Andy presents this year’s listing statistics.
[7:10] The pandemic didn’t affect small businesses as much as it was expected.
[8:02] Government incentives really worked.
[11:51] There are many more buyers than there are sellers.
[13:26] The construction business is going up.
[15:09] Andy and Jessica talk about being a potential seller in the current market.
[16:21] There is money in the market.
[17:52] Andy talks about interest rates.
[20:01] Get your 2020 tax numbers together and have them ready to file for an extension.
[22:48] Deal of the week: Chip Redmond (Central Florida) sold the second management company to the same client, with 37 short-term homes for him to rent and manage. Originally listed for $350,000, sold for $300,000. Gross revenue of $857,000 a year, SDE: $150,000. Cash deal.
[25:44] Listing of the week: John Fullerton (Omaha) is selling a top-rated, and one of the fastest-growing franchises, with more than 150 locations and it has been in business for over 15 years. Restaurant and bar, with a gorgeous outdoor patio and great location! Great potential to grow! Price: $189,000. This deal is one of a kind! Contact John at (402) 213-9945 or email jfullerton@tworld.com
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Call Chip Redmond at (321)299-6867 or email chrisredmond@tworld.com
Contact John Fullerton at (402) 213-9945 or email jfullerton@tworld.com
Tweetables:
“Florida emerges as the new hot spot for buying a business.” #thedealboard #transworldbusinessadvisors #business #currentmarket #buyers #sellers
“Small businesses really didn’t suffer as much as it was thought they would as a result of the pandemic.” #thedealboard #transworldbusinessadvisors #business #currentmarket #buyers #sellers
“At the end of the day, the government incentives really worked.” #thedealboard #transworldbusinessadvisors #business #currentmarket #buyers #sellers
“Buyers have to be aggressive; there are many more buyers than there are sellers.” #thedealboard #transworldbusinessadvisors #business #currentmarket #buyers #sellers
Andy and Jessica welcome you to another episode of The Deal Board. Today they are diving deep into a topic that relates to all business owners seeking to grow their business effectively. They are joined by two experts with whom they had incredible interviews:
- Carl Gould shares his personal story, overcoming a personal injury that prevented him from finishing college and forced him to get into the entrepreneurial world, a path that taught him many lessons.
- Kizzy Parks is an expert in acquiring government contracts for small businesses, and actually acquired more than $50 million in this activity in the last few years.
Listen to this episode to know what it takes to run your business to make sure you have a great exit.
Listings of the week:
Waldemar Halek (Ontario) shares about the new Transworld Business Advisors office in Toronto, Canada and a manufacturing small business for sale, a company that has been running for over 20 years. Asking price: CDN$5.2 million. Annual sales: CDN$6.5 million. SDE: Over CDN$1 million. EBITDA: CDN$800,000. An inventory worth of CDN$1 million is included. Call Waldemar Halek at (647) 946-2605 or email whalek@tworld.com
Dan Huber (Minnesota) is selling a manufacturing company in the fence industry including a 60,000 square foot building listed at $1.643 million, the business is listed at $7.5 million. SDE: $1.7 million. Clean books! Call Dan Huber at (612) 616-2307 or email dhuber@tworld.com
Key takeaways:
[4:05] Kizzy Parks talks about federal contracts and how she started in that field.
[6:41] What are the positive effects government contracts can have on small businesses?
[7:58] Small businesses are not too small to get a government contract.
[9:24] Are government contracts suited for some industries more than others?
[10:45] Kizzy talks about the biggest pitfalls in her experience with government contracts.
[13:04] What is the first step into the process of acquiring government contracts?
[17:44] Kizzy talks about her consulting practice and how she helps business owners.
[21:20] Listing of the week: Waldemar Halek (Ontario) shares about the new Transworld Business Advisors office in Toronto, Canada and a manufacturing small business for sale, a company that has been running for over 20 years. Asking price: CDN$5.2 million. Annual sales: CDN$6.5 million. SDE: Over CDN$1 million. EBITDA: CDN$800,000. An inventory worth of CDN$1 million is included.
[25:25] Carl Gould from 7Stage Advisors
[26:03] Carl talks about his personal story into the entrepreneurial world.
[32:28] Carl shares about the biggest mistakes he sees entrepreneurs falling into.
[35:15] What should people think about when they are considering selling?
[38:01] Carl shares a synopsis of his books: Blueprint for Success, The 7 Stages of Small Business Success, and Biz Dev Done Right.
[41:36] Carl offers a free growth analysis and five strategies on how to grow your business for The Deal Board listeners at 7Stage Advisors.
[42:13] Listing of the week: Dan Huber (Minnesota) is selling a manufacturing company in the fence industry including a 60,000 square foot building listed at $1.643 million, the business is listed at $7.5 million. SDE: $1.7 million. Clean books!
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Email Kizzy Parks at kparks@kpcimc.com
Call Waldemar Halek at (647) 946-2605 or email whalek@tworld.com
Visit TWorld.com/Ontario
7Stage Advisors
Call Dan Huber at (612)616-2307 or email dhuber@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board. This time they are sharing with you a business owner story with Bryan Clayton from GreenPal and Barry Sloane from Newtek Business Services. Both are sharing their successful business stories in times of pandemic. There is a way to grow your business into the valuation you want to get, listen to this episode and find out how!
Listing of the week: Sam Curcio (New York) is selling a clothing retailer in NY city with three locations; they offer a green solution for clothing shopping by selecting vintage pieces with the highest quality and best trend. They do 20% of their sales online. Total sales of $3.5 million. SDE: Over $1.6 million. Listing price: $8 million (down payment of $6.5 million). The business is pre-qualified by two SBA lenders. It comes with $212,000 worth of inventory. Call Sam at (646) 470-9433 or email scurcio@tworld.com.
Key takeaways:
[5:53] Barry Sloane, CEO of Newtek Business Services, talks about the new services his business is providing.
[9:05] This might be the perfect timing to sell and buy businesses.
[9:46] Barry explains why his program is good for people with either big or small balances that do not conform with the SBA standards.
[10:33] Barry shares his perspective on the current situation for businesses.
[12:29] How is Newtek helping people save money?
[15:59] Deal of the week: Jenna Porzillo (Bel Air, Maryland) closed a deal in the home brewery business that has been in business for 30 years.
[19:14] Bryan Clayton, CEO, and co-founder of GreenPal.
[20:08] Bryan talks about who he is and what he is passionate about.
[22:21] Bryan shares about the first time he thought of preparing to sell his business.
[24:37] Bryan shares the lessons he learned in the process of exiting his business.
[27:14] How was the transition process with the new buyers?
[29:31] When did Bryan start thinking about his new venture?
[31:44] What is Bryan’s secret to start businesses and grow them quickly?
[34:20] What are the biggest challenges Bryan faced at GreenPal?
[37:54] Bryan talks about his most recommended books for entrepreneurs who want to grow their businesses.
[40:19] Listing of the week: Sam Curcio (New York) is selling a clothing retailer in NY city with three locations. Total sales of $3.5 million. SDE: Over $1.6 million. Listing price: $8 million (down payment of $6.5 million). The business is pre-qualified by two SBA lenders. It comes with $212,000 worth of inventory.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Newtek Business Services
GreenPal
Bryan Clayton on Linkedin
Call Jenna Porzillo at (443) 654-5013 or email jporzillo@tworld.com
Call Sam Curcio at (646) 470-9433 or email scurcio@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board! In today’s episode, they will dive deep into retirement, how to be prepared for it by planning and setting an effective exit plan, on business and personal levels. This topic is affecting business owners and their long-term plans too, as a result of them keeping their businesses longer than they normally would do, retiring later in life, since they cannot find an income or investment that could provide financial security. Andy and Jessica are joined by Cindy Couyoumjian, author of Redefining Financial Literacy: Unlocking the Hidden Forces of Your Financial Future, who shares her knowledge to help you get the maximum value for your business and achieve the retirement you dreamed of.
Listing of the week: Thomas Kelsey (Fayetteville, North Carolina). Hemp store located in North Carolina that has connections with farms and manufacturers that ensures the quality of their product. Profit: $70,000. Asking price: $220,000. Open for seller financing. Reach Thomas at tkelsey@tworld.com or call him at (910) 300-5130.
Key takeaways:
[3:08] Why do you want to plan your business exit?
[4:10] When should you start to plan your exit?
[5:15] People want to continue the legacy and planning is crucial in order to achieve it.
[7:07] Jessica talks about her program called Prep to Sale.
[8:10] What to do to get the maximum value for your business.
[9:53] Don’t believe everything you see online in regards to business valuations, it is better to be unhappy than unrealistic.
[11.20] What is owner-absentee?
[13:00] Select the right team to get your deal done.
[16:30] Why you should plan in advance.
[17:55] Deal of the week: Meili Myles (Utah) sold a consigning furniture store that also offers new furniture. They had been in business for 20 years. Owners already knew the buyer but hired a broker to take care of every detail. Purchase price: $562,000 (cash deal) SDE: Close to $300,000.
[21:46] Cindy Couyoumjian shares why she wrote her book: Redefining Financial Literacy
[23:22] Cindy talks about the REALM model.
[27:02].Where do you put your money after selling your business?
[27:54] There is a way to get higher withdrawal rates.
[29:30] People are scared of the macroeconomic world, Cindy shares her perspective on the subject.
[34:01] Listing of the week: Thomas Kelsey (Fayetteville, North Carolina). Hemp store located in North Carolina that has connections with farms and manufacturers that ensures the quality of their product. Profit: $70,000. Asking price: $220,000. Open for seller financing. Reach Thomas at tkelsey@tworld.com or call him at (910) 300-5130.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Redefining Financial Literacy: Unlocking the Hidden Forces of Your Financial Future, by Cindy Couyoumjian
Cynergy Financial
Free Consultation with Cindy Couyoumjian 1-888-210-8777
Prep to Sell Program
Reach Meili Myles at (801)707-1957 or email mmyles@tworld.com
Reach Thomas Kelsey at tkelsey@tworld.com or call him at (910) 300-5130.
We are all excited to get back to business, but for certain, there is a little hesitancy and whiplash, that is the reason why Andy and Jessica are bringing some ideas to today’s episode about how to approach the current concerns for businesses to prepare for this back-to-normal phase.
Listing of the week: Chip Redmond (Central Florida) is selling a franchise that currently has 20 units specialized in healthy fresh food and juices, this particular shop is located in South Florida.
They did $931,000 in sales in 2019. Price: $395,000. SDE: $190,000. Call Chip Redmond at (321) 299-6867 or email him at chrisredmond@tworld.com.
Key takeaways:
[1:50] What is going to happen in the future of office place? Virtual, in-office, or hybrid?
[4:07] A lot of time has been saved and applied more productively since remote working became the norm.
[4:44] Consumers are now used to having things delivered to their door.
[6:00] Andy and Jessica talk about the video conferencing abilities and preparedness.
[8:30] Can you imagine everyone being back to the office and being on Zoom at the same time?
[10:19] Many businesses have pivoted during the pandemic, coming out with new products, but are they making money with them? Will this still be a useful resource after the pandemic?
[12:52] Returning to profitability.
[14:55] What about the psychological factor? Let’s not underestimate the anxiety everyone will experience going back to “normal.”
[18:11] There is going to be a boom in the economy.
[20:53] Do you need to adapt your marketing strategies to this new phase?
[22:28] This might be the time to start considering an exit plan.
[25:11] Deal of the week: Nathaniel Ernest-Jones (South Florida) sold an engineering company based in the South of Miami. It took over two years to get to the closing table. Price: $1.3 million.
[29:20] Listing of the week: Chip Redmond (Central Florida) is selling a franchise that currently has 20 units specialized in healthy fresh food and juices. Price: $395,000. SDE: $190,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on LinkedIn
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Email Nathaniel Ernest-Jones at nate@tworld.com
Call Chip Redmond at (321)299-6867 or email him at chrisredmond@tworld.com
Andy and Jessica welcome you to a very special episode, the 100th! The Deal Board Podcast has aired one hundred shows, bringing you the most valuable business information hand in hand with the experts in the industry. This episode is dedicated to honoring all those guests and the audience by bringing the top 10 business tips that are shared by 10 business experts. There has never been a better time to buy, sell, or even expand your business; listen to this episode and get the advantage of these succulent tips.
Listing of the week: Chip Redmond (Central Florida) is selling a 35-year-old general constructing company. Gross sales 2020: $7 million. Asking price: $605,000. SDE: $381,000 (in 2020). Excellent books and records and many projects for this year. Call Chip at (321) 299-6867 or email him at chrisredmond@tworld.com.
Key takeaways:
[5:05] Tip # 1: Keith Roberts: Make the most out of your time. Be productive, not just busy.
[7:48] Keith shares where he is at today and how he got there.
[8:59] Tip # 2: Andrea Kimpel (AFK Marketing): Market yourself and build your personal brand using social media and the available resources in 2021.
[13:44] Tip # 3: Marty Fishman: Identify Key Value Drivers.
[18:16] Tip # 4: John Wahl (Live Oak Bank): Use your cash wisely and make sure you are working with experts.
[21:25] John talks about the significance of the fee wage loans.
[24:46 Tip # 5: Laurie Sallarulo (Junior Achievement South Florida): Get involved in your community.
[29:03] Tip # 6: Chris “Chip” Redmond: Keep it short and simple.
[31:04] Tip # 7: Nicole Kowanetz (Palm Beach Poppins): Build better vendor relationships.
[34:15] Tip # 8: Henry Ziff (Transworld Business Advisors UK): Grow through acquisition.
[36:17] Henry explains how to start the process of growing through acquisition.
[38:16] Tip # 9: JT Tatem: Be the mayor! Get known in the local community.
[41:17] JT shares three actionable tips.
[43:33] Tip # 10: Mike Shea: It is not how much money you make, but how much you keep. Cash flow is crucial!
[49:03] Andy and Jessica talk about their favorite tips.
[52:26] Deal of the week: Dustin Audet (Rocky Mountains) just sold a women’s boutique located in a tourist town. SDE: $120,000. Sold at $220,000 plus inventory to a local businesswoman.
[55:29] Listing of the week: Chip Redmond (Central Florida) is selling a 35-year-old general constructing company. Gross sales 2020: $7 million. Asking price: $605,000. SDE: $381,000 (in 2020). Excellent books and records and many projects for this year.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
100 Ways to Be a Better Entrepreneur, Entrepreneur magazine
Email Dustin Audet at daudet@tworld.com or call (970) 618-9330
Call Chip Redmond at (321) 299-6867 or email him at chrisredmond@tworld.com.
Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today’s episode, they are joined by Carl Allen, who is with the Dealmaker Wealth Society and is also the author of The Business Giveaway: How To Acquire A Quality, Established Business For Zero Cash: Veteran Business Acquirer Reveals “Secret” Formula For The First Time.
Carl talks about leveraged buy-outs in a constantly changing environment, how growth through acquisition should really be a strategy for all business owners, and how to implement it in a small business environment.
You Are Invited to Celebrate 100 Episodes with The Deal Board!
The 100th episode is just about to happen; one hundred episodes delivering valuable information on how to buy, sell and run a business. To celebrate this special occasion, Andy and Jessica are going to put together an episode with100 Business Tips, and they will do it by having a little contest. You need to go to The Deal Board Podcast, click on the link to The Deal Board YouTube Channel, subscribe, and comment on this episode your best business tip. The best ten tips will be brought onto the show and you will have the chance to go live in the hundredth episode that will be launched on March 18th and win a special prize.
Listing of the week: Stephen Blain (Western North Carolina) is selling four vacation homes located in Haywood County, North Carolina. Valued at $1.86 million. These properties are booked weeks and months in advance, and 50% of their customer base are repeat customers. Super clean books and an outstanding reputation. Business value: $300,000. SDE: $110,000. Email Stephen at sblain@tworld.com or call him at (828) 528-5251.
Key takeaways:
[5:29] Deal of the week: Dustin Audet (Rocky Mountains) recently sold a 30-year-old landscaping business. Sold at $1.35 million in an SBA deal with two buyers.
[8:28] Carl Allen from Dealmaker Wealth Society
[8:54] Carl shares some of his background and story.
[16:03] Carl talks about the origins of the Dealmaker Wealth Society.
[17:15] Carl helps people minimize the risk when buying a business.
[18:56] Understanding the seller psychology.
[20:30] Why businesses don’t sell.
[22:32] Unrealistic expectations disturb business sales.
[22:51] Scaling an existing business by acquisition.
[26:38] Carl gives advice to anyone interested in getting into the mindset for buying or selling this year.
[28:26] Listing of the week: Stephen Blain (Western North Carolina) is selling four vacation homes located in Haywood County, North Carolina. Valued at $1.86 million. Super clean books and an outstanding reputation. Business value: $300,000. SDE: $110,000.
Mentioned in this Episode:
The Deal Board Podcast
Subscribe to The Deal Board Podcast YouTube Channel
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Call Dustin Audet at (970) 618-9330 or email daudet@tworld.com
Email Stephen at sblain@tworld.com or call him at (828) 528-5251
Trainwithcarl.com/dealroom
Tweetables:
“Buying a business is one of the most underappreciated ways to get money.” #thedealboard #transworldbusinessadvisors #business #growingthroughacquisition
“A business advice from Carl Allen: Buy, don’t stop.” #thedealboard #transworldbusinessadvisors #business #growingthroughacquisition
“About one in 11 businesses that list for sale actually transacts.” #thedealboard #transworldbusinessadvisors #business #growingthroughacquisition
“Anything valuable in life takes a lot of work.” #thedealboard #transworldbusinessadvisors #business #growingthroughacquisition
Andy and Jessica welcome you to another episode of The Deal Board Podcast. In today’s episode, they are joined by the experts to dive deep into small business solutions and some of the most relevant issues business owners are facing nowadays.
Devin Miller, from Miller IP Law, is sharing about his own business and how he decided to disrupt the IP Law arena. Tracey Bissett, from Bissett Financial Fitness, is talking about books and records, which is the number one trending topic in regards to business success. Mark Tremblay, from Transworld’s office, located in Boston, is sharing his knowledge about labor at a small business, which can be the biggest headache for business owners.
Listing of the week: Justin Lefebure (Central Florida) is selling a roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA. Call Justin at (772) 925-2675 or email jlefebure@tworld.com.
Key takeaways:
[3:42] Devin Miller, from Miller IP Law.
[4:00] Devin shares tips for small business owners about IP (Intellectual Property).
[6:28] Devin explains the possible consequences of not paying attention to copyrights and trademarks.
[9:00] Devin speaks about the difference between copyrights and trademarks.
[10:28] How does Miller IP Law help people?
[13:47] Deal of the week: Aaron Fox (North Boston) sold a daycare after solving many challenges imposed by the strike of COVID-19. Sold at 2.1 multiple of the SDE, with a total price of $1 million.
[19:20] Tracey Bissett, from Bissett Financial Fitness.
[20:37] What are the biggest mistakes entrepreneurs make when it comes to their finances?
[21:44] If you have delegated all your financial information and decisions, what is the first step to start getting involved?
[22:44] Tracey explains how to really start making money in your business.
[25:46] Can you articulate the big numbers in your business?
[26:34] Tracey talks about what really matters in a financial statement.
[29:54] Tracey shares the areas in which entrepreneurs tend to excel.
[32:18] What do business entrepreneurs need to be accountable for when it comes to their finances?
[34:20] EBITDA cannot be a true reflection of a business.
[36:00] Tracey gives advice to all business owners that want to start to straighten up their finances.
[38:19] Listing of the week: Justin Lefebure (Central Florida). Roofing repair business that has been in business for about 30 years and has a great reputation. This business does $800,000 in sales, has an SDE: $250,000, and the asking price is $550,000. The seller offers to finance, but it also has pre-approval from three different banks through SBA.
[41:22] Mark Tremblay (Boston) talks about his previous business and how he overcame the issue of labor.
[44:16] How to assure you are giving remarkable service.
[45:36] Mark recommends young people to get into a small business.
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 thedealboard@tworld.com
Call Aaron Fox at (781) 773-8922 or email afox@tworld.com
Call Justin Lefebure at (772) 925-2675 or email jlefebure@tworld.com
Call Mark Tremblay at (617) 299-9796
Miller IP Law
Fee Strategy Meeting
Meet Devin Miller
Bissett Financial Fitness
Money Meeting Agenda
Tracey Bissett on Linkedin
Andy and Jessica are accompanied in today’s episode by JT Tatem from Transworld Business Advisors of North and South Carolina to talk about the business goals for this brand new year, JT is an expert in goal setting and business sales, and he is providing the tools to start 2021 on the right foot.
Many aspects of the business environment have changed as a result of a turbulent 2020, including a noticeable spike in business buyers, so if you are considering buying a business in 2021, you can’t miss this episode!
Listing of the week: Michael Shea is selling a business in the cleaning and janitorial space: Porter Service and Exterior Cleaning Company. Asking price: $700,000. Cashflow: $300,000. Sign up at Michael Shea Buyer Matching Program. Email at mike@tworld.com or at (321) 287-0341.
Key takeaways:
[2:30] Some of the reasons why to buy a business in 2021.
[4:17] If your goal is to buy a business, how can you achieve your goal?
[8:17] Starting a business takes commitment.
[8:41] The eight Ws of goal-getting
[9:50] Write: Write down what you want.
[14:01] Why: Identify your reasons to become a business owner.
[16:13] Where: Identify where the obstacles are going to be.
[18:17] What: What do you need to learn?
[20:44] Who: Who is going to help you?
[22:26] The Way: You need a game plan.
[25:13] When: What is your timeline? Is it realistic?
[27:43] Work: You are going to have to work hard.
[32:40] These are ways to make it easier for your broker to find the best deal for you.
[24:44] Deal of the week: Aaron Fox (North Boston) sold a local grocery store. The buyer was attracted to this business by the pandemic. Sold through a full SBA loan at three times its SDE.
[39:47] Listing of the week: Michael Shea is selling a business in the cleaning and janitorial space: Porter Service and Exterior Cleaning Company. Asking price: $700,000. Cashflow: $300,000.
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 thedealboard@tworld.com
Listen to “Everything You Need to Know About Buying a Business”
Contact JT Tatem at jttatem@tworld.com, call (864) 315-8998, or visit Tworld.com/upstatesc/ or Tworld.com/ashevillewnc/
Call Aaron Fox at (781) 773-8922 or email at afox@tworld.com
Sign up at Michael Shea Buyer Matching Program. Email at mike@tworld.com or at (321) 287-0341
Andy and Jessica welcome you to another episode of the Deal Board. In today’s episode, they talk about the key takeaways from the turbulent and uncommon 2020. They share the lessons learned from a year that we will all keep in our memories, a year that taught us a lot about making deals under a different weather; a year that showed that adaptability, flexibility, and preparedness are fundamental in a constantly-changing world.
Listing of the week: Tracy Peterson (Delmarva). Retail store that has been two years in business in Delaware, great location in a commercial area. Total sales: $415,000. SDE: $140,000. Asking price: $284,000; there is an inventory of $80,000 that can be part of the negotiation. Call (410) 543-2299 or email tpeterson@tworld.com.
Key takeaways:
[3:20] Takeaway # 1: Human connection is crucial.
[6:05] Takeaway # 2: Cash is king.
[9:10] Takeaway # 3: Changes happen fast.
[11:42] Takeaway # 4: Sometimes surviving is winning.
[16:26] Takeaway # 5: Small business is really the backbone of the economy.
[18:41] Takeaway # 6: It pays to be nice.
[21:50] Takeaway # 7: We can use technology to our advantage and be more efficient.
[24:52] Takeaway # 8: We all have a much better idea of what the truth is.
[27:14] Takeaway # 9: Be more charitable and help your community.
[30:27] Takeaway # 10: Be grateful and live life to the fullest.
[34:27] Deal of the week: Aaron Fox (North Boston) sold a Tax Preparation Company. Full SBA financed. SDE: $100,000. Sold at two times multiple.
[37:55] Listing of the week: Tracy Peterson (Delmarva). Retail store that has been two years in business in Delaware, great location in a commercial area. Total sales: $415,000. SDE: $140,000. Asking price: $284,000; there is an inventory of $80,000 that can be part of the negotiation.
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 thedealboard@tworld.com
Call Aaron Fox at (781) 773-8922 or email afox@tworld.com
Call Tracy Peterson at (410) 543-2299 or email tpeterson@tworld.com
Andy and Jessica welcome you to another episode of The Deal Board. Today you will hear two great interviews with special entrepreneurial characters who share their business’ stories, Devin Miller from IP Law and Ray Skaug from Rainier Business Intelligence. You will also hear about extremely helpful services for business owners that are either ready to sell or buy a business. You already know the importance of keeping neat books and records, but you don’t have to do all this work by yourself! In today’s episode, you will hear from one of the companies that can assist you in getting your business’s financial story ready for a great deal.
Listings of the week: Chip Redmond (Central Florida) sells an e-business focused on the automotive aftermarket selling performance and racing parts. Asking price: $290,000. SDE: $30,000 but there is $225,000 in inventory; these products have a 70% margin which makes it an amazing business. Email Chip at chrisredmond@tworld.comor call (321) 299-6867.
Key takeaways:
[5:29] Devin Miller, IP Law.
[5:53] Devin shares how he got started in his career as a lawyer.
[8:37] Devin talks about how he helps his clients.
[12:10] Devin talks about other businesses he was involved in.
[16:00] Devin extends his advice to people interested in starting or buying a business.
[19:28] Deal of the week: Diane Hartz Warsoff (Utah County) sold a hamburger franchise that successfully pivoted during COVID-19. The buyer was relocating to Utah in March and had a background in the fast-food industry and wanted to join a new business with a couple of partners. Sold at $299,000. SDE: $100,000 per year.
[23:43] Raymond Skaug from Rainier Business Intelligence.
[24:45] Ray talks about his background and how he got involved in Rainier.
[30:01] Businesses that have their financial information to share at the moment of selling will sell for more money.
[31:05] The number one reason businesses won’t get third-party financing is because of the lack of good books and records.
[38:52] Listing of the week: Chip Redmond (Central Florida) sells an e-business focused on the automotive aftermarket selling performance and racing parts. Asking price: $290,000. SDE: $30,000 but there is $225,000 in inventory.
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 thedealboard@tworld.com
Free Strategy Meeting
IPlaw
Meet Devin
Call Diane Hartz Warsoff (01) 694-4844 or email utahcounty@tworld.com
Call Ray Skaug at (614) 270-0609 or email rskaug@rainierbi.com
Rainier Business Intelligence
Email Chip Redmond at chrisredmond@tworld.com or call (321) 299-6867
Andy and Jessica welcome you to a very special episode since Transworld Business Advisors is celebrating 10 years of franchising! For this occasion, you will hear the testimonies of people that make it possible. The stories you will hear in today’s episode are filled with amazing experiences that have contributed to their tremendous growth. Many are responsible for taking Transworld Business Advisors across the world. Let’s celebrate together a decade of growing and doing good deals for good people!
Listing of the week: Chris “Chip” Redmond (Central Florida). Heavy-duty truck and equipment and auto repair shop, nice niche in equipment category. Unique location. The business made over $800,000 in sales last year and the SDE is $232,000. The two owners are ready to retire. Call Chip at chrisredmond@tworld.com or call (321) 299-6867.
Key takeaways:
[5:47] Marc Lazarus (Passaic County, New Jersey) shares how he became a Transworl’s franchisee.
[10:09] Marc describes where Transworld is now compared to 2010.
[12:35] Alex Ledford, Financial Analyst at Transworld Business Advisors.
[15:32] Deal of the week: Aaron Fox (North Boston). Precision Plastics Manufacturing Company. The buyer was experienced in the field. The deal closed with blended financing with SBA and seller finance. SDE: $400,000. Sold at two and a half multiples.
[20:12] Greg Nowak, Sales Coordinator, talks about the current very busy market.
[23:30] Greg shares his view about Transworld’s future.
[24:42] Listing of the week: Chris “Chip” Redmond (Central Florida). Heavy-duty truck and equipment and auto repair shop, nice niche in equipment category. Unique location. The business made over $800,000 in sales last year and the SDE is $232,000. The two owners are ready to retire.
[27:55] Cory Hibbard, Director Of Operations, Consulting Division at United Franchise Group.
[28:41] Cory shares his journey with Transworld for the past six years.
[29:36] One of Transworld’s major focuses has been on advancing along with the progress of technology.
[32:10] Cory and Andy talk about the opportunities that the COVID-19 crisis has left.
[33:28] Cory shares his vision for Transworld’s future.
[34:14] Ray Titus, CEO of United Franchise Group.
[35:12] Ray had a vision for Transworld Business Advisors and that vision became a reality.
[38:45] Ray talks about the moment Signarama went worldwide.
[41:32] In October 2020, nine businesses were turned into franchises.
[43:56] Ray shares his vision for the next ten years for Transworld Business Advisors and United Franchise Group.
[45:50] The key ingredient for success is trust.
[47:40] Bill Luce, President of Transworld Business Advisors.
[48:14] These ten years have been better than anyone could have imagined.
[51:32] The best ideas come from the franchisees.
[53:07] Bill shares what excites him about the future for Transworld Business Advisors.
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 thedealboard@tworld.com
Call Marc Lazarus (Passaic County) at (201) 370-9600 or email ml@tworld.com
Call Aaron Fox (North Boston) at (781) 773-8922 or email afox@tworld.com
Email Chris “Chip” Redmond (Central Florida) at chrisredmond@tworld.com or call (321) 299- 6867.
Andy and Jessica welcome you to another episode of The Deal Board. Today, they are going to talk about why now is the best time to buy a business. Yes! Now. In the middle of a pandemic, even though the uncertainty. There are plenty of reasons to be an entrepreneur and lots of opportunities rising at this particular moment in history. The current market is creative and dynamic with many buyers and businesses ready to be acquired.
In this episode, you will hear some great interviews from actual buyers and sellers who will share their selling experiences during COVID-19. Also, Michael Shea gives the main reasons why now is a great time to buy a business.
Listings of the week: Michael Ziff (UK, London). Jewelry business with six shops on the South coast of England, established in 1982. Great opportunity for international buyers. Asking Price: 2.28 million pounds (1.5 million upfront). Contact Michael at mziff@tworlduk.com or call (004) 7712-867215
Key takeaways:
[8:05] Leo Sharky, recent buyer of an HVAC company
[8:19] Leo talks about his background in business and how he became the owner of an HVAC company.
[11:48] Leo shares what he found attractive about this particular deal.
[15:45] Leo shares another outstanding aspect of this deal.
[16:55] Leo shares what he learned during the process of buying a business in the middle of a pandemic.
[18:52] Leo talks about his new business.
[20:25] Deal of the week : Gary Goldwasser (Rocky Mountains) sold a large landscape/nursery in the Denver metro area that was making $8.9 million in revenue before COVID-19. The buyer raised all the capital from a private equity firm; the deal was structured into three parts: money upfront, the buyer kept 20% equity of the business, and the option for each to sell at any time. SDE: $5 million. Final Price: $18.3 million.
[26:18] Dave Mena from Militello’s Italian bakery shares how he got into business.
[29:55] Dave shares why he didn’t want to start a business from scratch again.
[31:51] How to best approach the market place.
[33:51] Dave shares the specifics about the transition from the previous to his new business.
[36.00] Listing of the week: Michael Ziff (UK, London) Jewelry business with six shops on the South coast of England, established in 1982. Great opportunity for international buyers. Asking Price: 2.28 million pounds (1.5 million upfront).
[38:42] Michael Shea (Central Florida) explains why this is a good time to buy a business.
[42:41] Michael shares what he considers are the first steps in looking for a business.
[46:33] Michael shares some “prophetic” videos he found from 2008/9.
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 thedealboard@tworld.com
Jay Moody HVAC
Contact Gary Goldwasser at gary@tworld.denver.com or call (303) 748-7420
Militello’s Italian Bakery
Contact Michael Ziff at mziff@tworlduk.com or call (004) 771-286-7215
Reach Michael Shea at mike@tworld.com or call (321) 287-0349.
In today’s episode, Jessica and Andy are bringing two entrepreneurs that are sharing their exit stories. You will hear personal experiences of how the business sale affected their lives. Will Moore is now the owner of Moore Momentum but he founded one of the original food delivery services back in 2008 before Uber was part of our lives. Jennifer Diaz is also sharing a unique story; she just sold her autobody business, which is only the tip of the iceberg of an incredible story as an entrepreneur which started when she was 18 years old.
This show aims to help you in developing and growing a successful business, by listening to the stories of entrepreneurs and how they got into business, made them grow, and finally sold it.
Listings of the week: Mike Hall (Raleigh) is selling a Dry Cleaner with a great reputation. Asking Price: $355,000, SDE: $168,000. Call Mike at (199) 424-1927 or email mhall@tworld.com.
Key takeaways:
[3:51] Will Moore, founder of Doorstep Delivery and Moore Momentum.
[4:30] Will shares some of his entrepreneurial journey.
[10:35] Growing the business in order to sell it later at a better price.
[12:20] A multimillionaire business starts the same way that all businesses start.
[12:52] Will talks about growth strategies.
[15:37] Will talks about the meaning of Tier 2 and 3 markets.
[16:58] Why did Will decide to grow through acquisition?
[17:56] Will explains how he was affected as an owner while exiting his business and shares his advice to other entrepreneurs.
[20:48] Will talks about Moore Momentum, his current business.
[22:24] Will shares the “five cores.”
[26:55] What is the legacy you are leaving?
[28:13] You have to enjoy the journey if you want to be happy and successful.
[30:05] Deal of the week: Gary Goldwasser (Denver) sold a large landscape/nursery in the Denver metro area that was making 8.9 million dollars in revenue before COVID-19. The buyer raised all the capital from a private equity firm; the deal was structured into three parts: money upfront, the buyer kept 20% equity of the business, and the option for each to sell at any time. SDE: $5 million. Final Price: $18.3 million.
[35:52] Jennifer Diaz, a great Transworld customer, shares how she got into business.
[39:33] From a hair salon to an autobody business.
[43:22] Jennifer is currently in the medical field, where her passion is.
[48:15] Jennifer gives her advice to young women considering becoming entrepreneurs.
[51:20] Listing of the week: Mike Hall (Raleigh) is selling a Dry Cleaner with a great reputation. Asking Price: $355,000, SDE: $168,000.
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 thedealboard@tworld.com
Moore Momentum
Moore Momentum on Instagram
5 Core Life on Instagram
Contact Gary Goldwasser at gary@tworld.denver.com or call (303) 748-7420.
Call Mike Hall at (199) 424-1927 or email mhall@tworld.com.
In today’s episode, Andy and Jessica are talking about the businesses that are still doing great through the pandemic. Your hosts are bringing the experts who are delivering their insights in regards to industries such as the swimming pool, janitorial, and auto repair businesses that became three of the most benefited sectors in 2020.
Listen to this episode to know what is still selling, but even more, which industries have been more profitable than there were before March 2020.
Listing of the week : Chris “Chip” Redmond (Central Florida) is selling a seven-chair barbershop and two chairs in the back area set for tattooing. Listing Price: $20,000. The owner earned $34,000 last year. Contact Chip at (321)299-6867 or email chrisredmond@tworld.com
Key takeaways:
[2:20] Jessica addresses the booming in the construction and the swimming pool business during the pandemic.
[2:48] Andy talks about the opportunity that the janitorial business had because of the pandemic.
[3:39] The auto repair industry has seen a major increase due to the “staycations” and road trips people have started due to the restrictions for traveling abroad.
[6:24] Michael Shea talks about the booming of the pool industry.
[11:48] What is the worth of a swimming pool company?
[17:48] Deal of the week: Michael Shea sold a 50-year-old sign manufacturer at Orlando, listed at $145,000 and sold for $130,000 in the middle of a pandemic.
[21:23] John Woodhull from the janitorial and commercial cleaning services industry.
[21:45] John talks about his background.
[22:41] What are the type of services that the janitorial and commercial cleaning services provide?
[25:47] John talks about the trends in the commercial cleaning industry during the pandemic.
[28:40] Growing your business through acquisition.
[31:18] Suggestions for people considering entering the commercial cleaning industry.
[35:02] John shares how valuation looks right now for commercial cleaning services companies.
[37:54] Listing of the week: Chris “Chip” Redmond (Central Florida) is selling a seven-chair barbershop and two chairs in the back area set for tattooing. Listing Price: $20,000. The owner earned $34,000 last year.
[40:20] Aaron Fox (North Boston) is talking about auto body shops.
[42:31] Aaron talks about the intricacies of the auto body industry.
[45:16] Aaron explains why auto body shops really make a lot of money.
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 thedealboard@tworld.com
Call Michael Shea at (321) 287-0349 or visit yourfloridabusinessbroker.com
Call John Woodhull at (720) 339- 7050 or email john@tworlddenver.com
Contact Chip Redmund at (321)299-6867 or email chrisredmond@tworld.com
Call Aaron Fox at (781) 773-8122
this listing has appeared in a previous show.
Andy and Jessica are bringing to you the 10 questions you want to ask your business broker. Listen to today’s episode to find the reasons why you should work with a business broker and how you can benefit from this decision. Selling a business is a complicated task and the experience of a business broker can make a substantial difference in a deal. Selling your business might be the biggest transaction of your life, you need expert advice and guidance to assure a successful deal.
Listings of the week: Justin Lefebure (Central Florida). Transmission/Mechanic shop for sale. Seller is retiring and is ready to finance. The owner is asking for a $100,000 down payment, he delivers a $750,000 building, $100,000 worth of assets, and a $500,000 worth of business. Financed for 15 to 20 years. Call Justin at (772) 925-2675 or email jlefebure@tworld.com.
Key takeaways:
[1:10] What is business brokerage?
[3:46] Business brokers are really for middle to small size businesses.
[4:50] Selling a business is a complicated process.
[7:46] You hire a business broker for his or her experience.
[10:15] Some valuations require specific methodologies.
[11:48] How do you hire a business broker?
[13:05] Ten questions that you have to ask your business broker before you list them with Micheal Shea.
[13:32] Question #1: How many deals have you done in your career?
[14:24] Question #2: How often do you co-broker?
[16:10] Question #3: How much money are you spending on marketing?
[16:52] Question #4: Do you have a specialty?
[18:12] Question #5: How big is your firm?
[19:26] Question #6: Can you show me the competition for my business?
[20:32] Question #7: Will I have to hold paper or seller financing?
[21:28] Question #8: How long on average does it take to sell?
[22:39] Question #9: Which websites are you on and how do you market my business?
[24:07] Question #10: What is your commission?
[26:59] Deal of the week: Raymond Copell sold an insurance business. A deal that began years ago, and sold for three times the book value.
[30:48] Listing of the week: Justin Lefebure (Central Florida). Transmission/Mechanic shop for sale. Seller is retiring and is ready to finance. The owner is asking for a $100,000 down payment, he delivers a $750,000 building, $100,000 worth of assets, and a $500,000 worth of business. Financed for 15 to 20 years.
[33:56] Deal of the week: Peter Berg. A logistics company that was sold in the middle of the pandemic. Price: $600,000. Sold: $580,000. Seller note: $100,000 for one year. Paid the entire sum in one year. Online closing.
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 thedealboard@tworld.com
Call Michael Shea (321) 287-0349
Michael Shea YouTube Channel
Email Ray Copell at ray@tworld.com or call (954) 464- 6290
Call Justin Lefebure at (772) 925-2675 or email jlefebure@tworld.com.
Call Peter Berg (954) 907-3007 or email pberg@transworldma.com
Andy and Jessica are touching a very recurrent topic: Private Equity. Many sellers are asking questions such as:
- What is it like to sell through private equity?
- What is private equity looking for?
- How do I attract a private equity buyer?
Two experts are bringing the answers to these questions, Rob Mossman from Spur Acquisitions in Colorado and Kyle Madden from KLH Capital in Florida. Not all private equity is alike, and you are going to hear about this in today’s episode.
Listing of the week: Dustin Audet (Rocky Mountains) is selling a pool installation company located in Colorado. They are installing 50 pools at an average price of $110,000. $5 million in total sales. Net Profit: $40,000 per pool. Price: $2.2 million. An ideal buyer is a businessman that sees the opportunity! Email Dustin at dustin@tworlddenver.com.
Key takeaways:
[4:50] Kyle Madden from KLH Capital.
[5:30] Kyle explains how private equity works.
[11:11] Kyle shares how private equity looks like from an exit perspective through three different scenarios.
[13:14] The time frames vary in the three different cases of private equity.
[14:31] How does a business owner decide if a private equity group is the right fit?
[17:50] You first have to decide about what you want from a deal; what are you looking for?
[24:14] Deal of the week: Peter Berg sold a business during the pandemic without meeting the seller, the buyer, or even seeing the business. Everything was done remotely. Price: $600,000. The buyer paid $580,000 with a seller note for one year.
[31:53] Rob Mossman from Spur Acquisitions.
[32:25] Rob talks about his professional background and shares his knowledge about private equity.
[35:37] Rob explains why it is important to have a minimum of $1 million EBITDA.
[40:40] The crucial importance of growth opportunities.
[44:44] If you are in the Baby Boomers demographic and have run a successful business that has made you wealthy, how can you get liquidity and the freedom to enjoy it?
[52:01] Listing of the week: Dustin Audet (Rocky Mountains) is selling a pool installation company located in Colorado. They are installing 50 pools at an average price of $110,000. $5 million in total sales. Net Profit: $40,000 per pool. Price: $2.2 million.
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 thedealboard@tworld.com
Contact Rob Mossman from Spur Acquisitions
Reach out to Kyle Madden from KLH Capital. Email Kyle at kyle@klhcapital.com
Email Peter Berg at pberg@transworldma.com, or call (954) 907-3007
Email Dustin Audet at dustin@tworlddenver.com
Andy and Jessica welcome you to the third part of the series in regard to buying a business. While transiting through the COVID-19 crisis the market has turned into a buyers’ field. This series is meant to bring together all the best information from previous episodes that buyers must have in order to be prepared to buy a business. You will hear about topics such as growth through acquisition, financing options, demographics, baby boomers, and the result of what is going to happen post-COVID-19, among other great valuable information for buyers and businesses interested in expanding. Listen to this episode for some timeless information about how to buy a business, resources, and tactics.
Listing of the week: Chris “Chip” Redmond (Central Florida) is selling a seven-chair Barber Shop and two chairs in the back area set up for tattooing. The owner wants to move to a different business. Price: $20,000. 2019 earnings: $34,000. Call Chip at (321) 299-6867 or email chrisredmond@tworld.com
Key takeaways:
[4:40] Poor books and records can kill a deal.
[6:02] What to do if you don’t have good books and records.
[7:23] Have a good CPA and stop hiding cash.
[8:45] Erin Bean talks about a case of a Nail Salon in Florida.
[10:46] Deal of the week: Steven Hanson (San Diego) sold a business from a couple who created an accessory that could be used in all types of vehicles. They had brought their product into the market and wanted to retire. The buyer came from a similar industry.
[13:55] Ross Haymes brings a case from a pavement repair company that kept great records.
[16:28] Ross gives advice to sellers who have significant add-backs in a deal.
[17:24] Linnea Westlake talks about overcoming challenges with poor books and records.
[21:53] Deal of the week: Raymond Copell recently sold an insurance business for three times the book value. Clean books and records were substantial to get the deal done.
[25:51] Many businesses rely on seller financing.
[29:13] Everybody wants to leverage their money.
[30:22] What is seller financing?
[31:46] Andy talks about the flexibility involved in seller financing in opposition to the bank’s terms and conditions.
[32:43] Andy shares how seller financing is a tool to purchase a business.
[35:40] Deborah Carman (Boca Raton) attorney
[36:40] 20% to 30% of the deals are cash.
[37:02] Buyer feels he is a partner with the seller when there is seller financing.
[38:08] Creativity is needed when structuring a deal.
[39:15] How is the seller protected?
[41:07] Communication is the best way to resolve issues between sellers and buyers.
[44:45] Listing of the week: Chris “Chip” Redmond (Central Florida) is selling a seven-chair Barber Shop and two chairs in the back area set up for tattooing. Price: $20,000. 2019 earnings: $34,000.
[47:01] Andy and Jessica explain why having a legal partner is essential in a deal.
[52:13] Jonathan Langer, from Izbiky and Associates, Colorado.
[52:31] Jonathan shares examples of legal issues that buyers should be prepared for.
[54:42] Everything starts with a letter of intent; Jonathan shares other documents that could be needed in a deal.
[57:45] The biggest risks while buying/selling a business and how to protect yourself from a legal standpoint.
[1:02:01] There are different market terms for each transaction.
[1:03:03] Jonathan explains the issue of different style alignments.
[1:04:39] Look for an attorney who is according to your market segment.
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 thedealboard@tworld.com
Email Ray Copell at ray@tworld.com or call (954) 464- 6290.
Get in touch with Deborah Carman phone: 561-392-7031 or email: info@carmanlegal.com
Call Chip Redmond at (321) 299-6867 or email chrisredmond@tworld.com
Call Jonathan Langer at (303) 850-7080 or email jonathan@izbikylaw.com
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:
[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 thedealboard@tworld.com
Call Carey Davis at (646) 707-4559 or email: cdavis@tworld.com
Call Anthony F. Geronimo at (407) 745-0464 or email afgeronimo@tworld.com
Call Robert Cunio at (888) 604-8221
Call Tom Jones at (754) 224-3111
Andy and Jessica are starting with this episode a series of shows dedicated to outlining all the major aspects you need to know when buying a business. The current market belongs to the buyers while the U.S. slowly moves out of the COVID-19 pandemic. Stay tuned, since the following episodes will include a combination of different interviews that were done during almost two years of podcasts. This series includes timeless advice for business buyers seeking great advice, resources, and tactics.
Listing of the week: Chris Redmond (Central Florida). Restaurant in business since 1976, located in Orlando. One-and-a-half-acre property and business are for sale for $2.3 million. An iconic Orlando location. Great for national franchise or developer. Call Chris at (321) 299-6867 or email chrisredmond@tworld.com
Key takeaways:
[5:50] Why downtimes can be the best times to buy a business.
[8:00] Owning your business is more secure than having a job.
[10:21] Reasons why now is the best time to buy a business.
[11:17] Take advantage of the current flexibility on deal terms.
[12:16] Buyers can dictate the terms of the deal.
[13:22] Acquisition opportunities are really good deals for banks through the SBA program.
[15:30] SBA is waving all payments on 7(a) microloans and 504 SBA loans that are generated before now until September 27th, 2020.
[19:35] Baby Boomer businesses are entering the market.
[21:19] Your home equity should be intact.
[22:46] The pandemic opened a huge opportunity for synergistic or strategic buyers.
[23:12] Take advantage of the reduced competition and the possibility of increasing your market share as a business owner.
[26:15] There will be commercial real state space.
[28:43] Uncertainty can be good for business, risk-takers will take the lead.
[31:45] Listing of the week: Chris Redmond (Central Florida). Restaurant in business since 1976, located in Orlando. One-and-a-half-acre property and business are for sale for $2.3 million. An iconic Orlando location. Great for national franchise or developer.
[34:22] 11 different ways to minimize the risk of buying a business.
[34:50] 1. You are going to need a good attorney.
[38:36] 2. Hire a good business accountant.
[41:05] 3. Do your homework!
[42:35] 4. Tuck the money away: Reserve money for the first year in business.
[44:44] 5. It takes work to buy a business.
[46:41] 6. Use a business broker.
[49:30] 7. Have money on escrow or on a seller’s note to take care of all liabilities.
[51:18] 8. Don’t make any changes in the business for at least six months.
[53:41] 9. Insurance.
[56:05] 10. Buy a business with good systems in place.
[57:55] 11. Relationship with the seller post-transaction.
[1:02:08] Carey Davis (New York City), when a buyer finds a broker: buy-side agreement.
[1:06:34] Advice for buyers from Transworld Business Advisors’ experts.
[1:10:05] Deal of the week: Michael Shea talks about how he sold a 50-year-old sign manufacturer located in Orlando during COVID-19 times.
[1:13:50] Trent Dailey, CEO and President of Insurance Managing Group, talks about how he grew his business through acquisition.
[1:17:41] Trent Dailey shares how to ease the post-transaction period after acquiring a business to grow your business.
[1:19:43] Trent Dailey gives advice to entrepreneurs who want to grow through acquisition.
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 thedealboard@tworld.com
Call Chris Redmond at (321) 299-6867 or email chrisredmond@tworld.com
Call Michael Shea at (321) 287-0349 or email mike@tworld.com
Email Trent Dailey at trent@insmgt.com
Andy and Jessica welcome you to another live episode of The Deal Board Podcast. This episode is focused on larger transactions and mergers and acquisitions in regard to the buyer and the seller’s sides. Peter Berg and Sunil Shenoy, two of the top experts of Transworld Business Advisors in the Mergers and Acquisitions department share their acknowledge and experience in the matter.
Listing of the week: Albert Fialkovich (Colorado). Niche manufacturing business in Colorado. Agricultural industry. The company has been in business for over 50 years. $3 million in sales. Earnings over $1 million. Great opportunity to expand. Asking price: $5 million. Call Albert at (720) 370-6699 or email albert@tworld.com
Key takeaways:
[3:53] Has the M&A activity slowed since the strike of COVID-19?
[6:49] People are looking for private equity groups as well as family offices.
[8:38] This is not a new normal.
[9:06] Will survivors get a higher multiple?
[12:55] The changes in the lending environment.
[15:04] It is definitely not a seller’s market when it comes to funding.
[15:56] PPP loans created a huge amount of work for the lenders.
[17:30] Are newer private groups in a better place?
[19:38] It is a good time for sellers.
[20:28] Timelines now compared to the previous ones.
[23:23] Sunil shares the detail of his most recent deal.
[26:00] COVID-19 has caused a pause in construction.
[27:40] Sunil talks about the current deal dynamics on the buy-side.
[30:42] PPP loans require a lot of diligence.
[31:33] Who wins: buyers or sellers?
[36:53] What are the metrics and factors lenders are looking for?
[39:05] General structure of earnouts in times of COVID-19.
[42:08] Owners’ compensations for deals in the private equity zone.
[43:10] The buyers market during the pandemic.
[45:20] What kinds of businesses are being looked out for outright purchases?
[48:27] EBITDA after COVID-19.
[54:45] Deal of the week: Sunil Shenoy (M&A division). One of the largest Christmas tree farms. A resilient business that has been operating for over 40 years. A challenging deal that took over a year. The biggest deal in Transworld Business Advisors history.
[1:07:35] Listing of the week: Albert Fialkovich (Colorado). Niche manufacturing business in Colorado. Agricultural industry. The company has been in business for over 50 years. $3 million in sales. Earnings over $1 million. Asking price: $5 million.
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 thedealboard@tworld.com
Contact Sunil Shenoy (M&A division)
Call Albert Fialkovich at (720) 370-6699 or email albert@tworld.com
Andy and Jessica welcome you to another edition of a live podcast. The Paycheck Protection Program (PPP) loans are bringing up the subject of SBA financing for business acquisitions, Andy and Jessica are receiving the experts to dive deep into the opportunities this kind of loans are presenting in difficult times while coping with the financial impact that COVID-19 is creating.
The SBA program has historically been a great way to bail out the economy and that is why, in today’s episode, the future will be assessed with the company of the experts in business lending, John Wahl, from Live Oak Bank, and Lynn Singletary, from BankUnited.
Listing of the week: Charles Palmer (Nashville). Family-owned Pizza Restaurant in business for 17 years. Italian menu, ample sitting space. Asking price $175,000. SDE $170,000 annually. Really motivated seller. Great potential. Call Charles Palmer (615) 962-4462 or email ppalmer@tworld.com
Key takeaways:
[4:25] What is SBA lending?
[8:16] The only loans that the bank has been making in the last months are PPP loans.
[9:10] The lenders are looking at what industry is asking for a loan and how it was affected by COVID-19.
[10:10] How is PPP affecting what is going on right now in the business world?
[11:48] The rules for forgiveness have not yet been issued in regard to PPP loans.
[15:35] Lynn talks about the waiver of the SBA guarantees.
[17:35] 7(a) loan is approved under the CARES act with 110 billion dollars.
[17:58] There is a risk of dollars not being available, but it is pretty minimal and short term in nature.
[18:35] John talks about the benefits that are available now and will be accessible in the near future.
[21:45] What does a typical 7(a) SBA loan look like?
[26:19] How PPP loans will be handled in the transference of a business?
[29:07] Will PPP money be taxable?
[30:10] Make sure you have clean financials.
[31:30] PPP loans are only being issued to bank customers.
[34:10] How interest rates are determined in these types of loans for business acquisitions.
[36:23] What if someone wants to buy a business above the $5 million range through a bank loan?
[37:55] John and Lyn talk about which loans can’t be done through a bank right now.
[41:55] The opportunity of buying businesses that go bankrupt.
[43:54] Quickfire round questions
[55:58] Deal of the week: Dustin Audet (Colorado). Liquor store specialized in Colorado products. The buyer had an E2 Visa. Listed price $99,000 plus inventory, sold at $50,000 including inventory. The buyer paid in cash.
[1:00:50] Listing of the week: Charles Palmer (Nashville). Family-owned Pizza Restaurant in business for 17 years. Italian menu, ample sitting space. Asking price $175,000. SDE $170,000 annually. Really motivated seller. Great potential.
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 thedealboard@tworld.com
Call Lynn Singletary at (407) 731-9555 or email lsingletary@bankunited.com
BankUnited
Call John Wahl at (303) 551-4453 or email john.wahl@liveoak.bank
Live Oak Bank
Email Dustin Audet at dustin@tworlddenver.com or call (970) 618-9330
Call Charles Palmer (615) 962-4462 or email ppalmer@tworld.com
Welcome to the second live episode of The Deal Board Podcast! Today Andy and Jessica are talking about what is the business world going to look like after COVID-19, in regard to valuations, buyers, sellers, advisors, and also the banks. COVID-19 is going to affect valuations and Andy and Jessica are sharing three different options based on different case scenarios. There will be challenges and opportunities for business owners and buyers, listen to this episode, and get ready for the near future.
Listing of the week: Steve Wright (Raleigh). Great business to invest during COVID-19 times! Bakery and cafe. SBA approved. Annual revenue: $700,000. SDE: $211,000. Grown by 21% since the pandemic started. Listing price: $695,000. Visit tworld.com/raleigh or call Steve at (919) 603-4027.
Key takeaways:
[1:39] Quick overview of how businesses are valued.
[2:45] The market method.
[4:33] EBITDA valuations.
[4:45] SDE valuations, what does it mean, and what is included in this business.
[7:09] Recasting processes are meant to normalize businesses.
[9:22] How COVID-19 is going to affect valuations.
[9:52] The case of restaurant owners.
[10:26] Option 1: The V Shape. The case if business reactivates very quickly increasing revenues at the same pace.
[11:11] Valuations might look different in different regions.
[12:10] Valuators might ignore the COVID-19 period and only base valuations on “normal” times.
[13:49] The case of the businesses that are spiking in their sales during the pandemic.
[16:48] Option 2: What is expected to happen to valuations if there is a hangover or the nation enters a recession.
[19:30] Lots of business might be up for sale after COVID-19.
[20:08] The possible issue with the SBA loans.
[22:40] Banks want to lend money through the 7(a) program.
[24:00] Andy talks about the business opportunities that are arising currently.
[24:38] Quantity and quality of earnings.
[25:27] Option 3: What happens if prices go up for certain businesses post-COVID-19?
[28:49] Jessica gives suggestions for businesses to cope with the crisis.
[29:23] What are the options and opportunities for restaurants?
[30:58] The business is calculated based on a percentage of their assets.
[35:37] The difference between this economic crisis and previous ones is that this time is worldwide; everyone is on the same boat.
[36:20] The future will look different for all of us.
[39:25] Andy and Jessica receive questions from the audience.
[43:25] There is a trend about supporting small businesses.
[52:51] Deal of the week: Nathan Willis (Denver, Colorado). Agricultural Manufacturing business. The seller was a multigenerational rancher who created a product that has been selling for the last three years. Revenue: $500,000 per year. SDE: $250,000. Price $500,000 and sold for a full cash offer.
[56:08] Listing of the week: Steve Wright (Raleigh). Great business to invest during COVID-19 times! Bakery and cafe. SBA approved. Annual revenue: $700,000. SDE: $211,000. Grown by 21% since the pandemic started. Listing price: $695,000.
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 thedealboard@tworld.com
The Deal Board Podcast Episodes 4 and 5 on Valuation and Recasting
Get Your Business Survival Guide — Transworld Business Advisors
Never Split The Difference: Negotiating As If Your Life Depended On It, by Chriss Voss
Call Nathan Willis at (303)335-7126 or email nathan@tworlddenver.com
Visit tworld.com/raleigh or call Steve Wright at (919) 603-4027
In today’s episode Andrew and Jessica will go into a deeper dive into valuation — they will talk about ten common mistakes people make while valuing their business. To bring some clarity to the topic of valuation, Andy and Jessica are bringing the experts to share their knowledge and experience in this field. Listen to this episode which is aimed for buyers and sellers to have a deeper understanding of business valuations.
Listing of the week: Michael Ziff (London). Leather accessory business, in business for 15 years. Purchase Price: 1 million pounds; the owner wants 750,000 pounds upfront and the balance over a couple of years; he will stay to help develop the business. Email Michael Ziff at mziff@tworlduk.com or call (0044) 771-286-7215
Key takeaways:
[3:02] 1: Add back distributions
[5:10] 2: Only add back one owner’s salary.
[6:40] 3: You have to value each location as it was run by a business owner.
[8:13] 4: Adding back personal credit card bills on top of the business’ expenses.
[11:04] 5: Adding balance sheet numbers on top of the cash flow valuation that has been calculated.
[12:30] 6: Taking a multiple and applying it to the wrong number
[14:09] 7: Applying the wrong multiple
[14:50] 8: Adding back expenses for failed business ventures
[16:50] 9: Playing the revenue in earnings’ game of good years
[18:00] 10: Not having any negative add-backs.
[22:18] Paul Corrigan (North Shore Boston)
[24:17] The secret is to look at valuation from the perspective of a nonbiased third party.
[30:01] Paul Corrigan shares several valuation approaches to different businesses.
[33:32] Paul Corrigan talks about the biggest mistakes he sees people make while valuating their businesses.
[36:54] Deal of the week: Michael Shea (Central Florida). Printing shop. 40 years in business. The business was booming as a result of the COVID-19. 40% financed, the buyer got in the deal with $50,000.
[40:32] Listing of the week: Michael Ziff (London). Leather accessory business, in business for 15 years. Purchase Price: 1 million pounds; the owner wants 750,000 pounds upfront and the balance over a couple of years; he will stay to help develop the business.
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 thedealboard@tworld.com
Rosetta Valuations (617) 320-4812 or paul.corrigan@rosetavaluation.com
Call Michael Shea at (321) 287-0349 or email mike@tworld.com
Email Michael Ziff at mziff@tworlduk.com or call (0044) 771-286-7215
Andy and Jessica welcome you to the first live episode. Today you will hear about the opportunities that the pandemic is bringing to the business world. We have been through crises before, and there always have been ways in which the economy is stimulated. When these difficult times pass you will have wish you have bought a business now. Listen to this episode for a deep understanding of how is the process of buying and selling a business and why it is now a great moment to buy a business.
Listing of the week: Michael Shea (Central Florida). 30 years lighting distribution wholesale company which also does installation. Working all over Florida. Family-run business. The business is making $3.4 million in sales, $600,000 cashflow. Call Michael at (321) 287-0349 or email mike@tworld.com or visit tworld.com/michaelshea.
Key takeaways:
[3:36] Buying a business is not an easy process.
[4:18] Buying a business is more secure than having a job.
[5:34] To buy a business you need to get a team together.
[6:17] Sellers might be extra motivated now.
[6:27] Why is now a good time to buy a business?
[7:12] Take advantage of the current buyer’s market.
[8:59] There is still a lot of money on the street.
[9:42] How is the government injecting money into the system?
[15:25] Baby Boomer businesses are entering the market.
[19:12] There is going to be reduced competition.
[22:18] There will be commercial real state space.
[24:41] Uncertainty can be good.
[25:02] Jessica and Andy answer the listeners’ questions.
[31:30] There will be uniques structures in seller financing.
[32:25] It is never easy to get an SBA loan.
[33:44] People sell for personal issues, not financial ones.
[39:09] Buying an e-commerce business.
[42:54] If you are a buyer right now, get in touch with a broker.
[45:19] Deal of the week: Tony Khoury (Greenville). A 20-year business owned by a couple wanting to retire, seafood processing plant located on the coast of North Carolina, manufacturing plant, wholesales and retail operation, and restaurant. Listing price: $2.95 million. Sold at $50,000 more than the asking price. Seller financing with low-interest rates.
[49:45] Listing of the week: Michael Shea (Central Florida) 30 years lighting distribution wholesale company which also does installation. Working all over Florida. Family run business. The business is making $3.4 million in sales, $600,000 cashflow.
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 thedealboard@tworld.com
Call Tony Khoury (252) 347-9606 or email tkhoury@tworld.com
Call Michael Shea to (321) 287-0349 or email mike@tworld.com or visit tworld.com/michaelshea
Andy and Jessica are diving deep into the struggles that can arouse while buying or selling a business. First of all, having the right legal partner is crucial for a successful transaction; that is the reason why two great legal agencies are joining the conversation today to share their expertise and what is that you have to expect in a deal
Today’s episode is a special one; we are living through unprecedented times dealing with COVID-19, and Andy and Jessica are sharing a Survival Guide for Small Businesses. Certainly, the hospitality industry is one of the most affected by this pandemic, but this is a reality for all businesses, as a result of the domino effect started by closed stores which leave many other industries related to them, out of the picture too
In today’s episode, Andy, Jessica, and expert guests are diving deep into this topic. Brady Lee, from Accurate Franchise, shares how she has been helping people who are considering franchising their business to move forward successfully. Frank Berger, the CEO of You’ve Got Maids, talks openly about his success story and how he has been working with Transworld Business Advisors for the growth of the company
Andy and Jessica are talking today about COVID19 and how it is already affecting the economy and small businessthey explain what we can expect in the upcoming months in terms of the effects that the virus is having on the businesses There are plenty of past data that can be taken under consideration Americans have gone through 9/11,hurricanes among other natural disasters,the economic downturn of 2009,but this is a little different;disasters are usually regional while this emergency is worldwide
This episode is dedicated to talking about property management companies, specifically the market working with vacation rentals which have been growing industry due to the introduction of companies such as Airbnb, HomeAway, and Vrbo
Andy and Jessica bring a very touchy subject to this episode, which is family transfers. Most small businesses are operated by families and a recurrent concern is if a business should or shouldn’t be transferred to the upcoming generation
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
Transworld Business Advisors receive thousands of buyers from around the world every year who are looking to buy a business. In this episode, Andry and Jessica talk about specifically the individual buyers seeking businesses and what exactly are they looking for. The typical profile is somebody who has worked for a corporation for ten to twenty years, has dreamed of buying a business, saved money for their retirement, and now are looking for income replacement
It is usual that during the first quarter of the year lots of buyers search for businesses; that is why Andy and Jessica are dedicating today’s episode to teaching buyers how to win a deal. Tones of others like you have decided they want to be their own boss and step out of the world of corporate America, so it is crucial for you to be equipped with the best tools to reach the business you want and be able to acquire it
Andrew and Jessica bring the perfect episode for those of you who have a business and consider the possibility of selling it in the future but are also looking for possible ways to increase its value.People always want more money for their business and these 10 ways to drive value are very easy to put in place and in a period of one to three years,the result will be visible on the valuation.If you get all 10 of these suggestions right,you are going to be in a great position to sell your business
Andrew and Jessica recommend that you listen to Part 1 with the first 10 predictions before moving on with this episode which brings 10 more predictions that will help you get ready for what the future decade is bringing to the business arena. The next decade is going to be a great one for businesses and franchises; they will continue to thrive as well as business brokerage, which will be even more prolific
Welcome to not only a new year but a new decade! It is the right time to start to see what the long-term future will bring. Andrew and Jessica are bringing their 20 predictions for the next decade, which include some solid information on how business brokerage and the way to sell a business will be affected, especially regarding the impact on small businesses. Enjoy this episode and get prepared for what this upcoming decade is preparing for entrepreneurs.
Andy and Jessica are talking about the psychology of the business, specifically about the DISC system and the DISC profile with a couple of great experts on the matter: Dr. John Hayes, who is talking about how he uses DISC profile to motivate sales teams and in his work with companies (mostly franchisors and independent companies), and Mary Grothe, CEO of Sales BQ, who explains how to use a DISC profile if you are a buyer or seller of a business
Andrew and Jessica want to celebrate the end of 2019 and the beginning of 2020 by presenting a market update regarding business sales. This year has been great in regards to business sales, especially for the sellers who benefited from the upswing of the economy. There also have been not-so-bright situations, as it was at the beginning of the year, the government shutdown which affected a few businesses
Andy and Jessica are talking today about the janitorial industry, a wide one that spreads its services in several fields such as medical, hospitality, and industrial, just to name a few. The janitorial industry is one that can be called recession-proof; it provides stable cash flow and recurring monthly revenue.
Andrew and Jessica welcome to this episode the leading experts in the topic of changing consumer models. You will hear an interview with Patrick Fore from fleat.net who aims to turn the restaurant business into what it used to be the “ice-cream man” coming to your door, the kind of purchase clients do because it is presented to them
The landscaping industry is a great one. Transworld Business Advisors has contributed to the sale of many of these businesses throughout the years. Landscaping is an active business all year round, during summer providing their traditional lawn care services and on winter with snow removal. It is a great stable industry all across every market in the USA. Even though plowing turns out to be more profitable, the landscaping industry is a strong one, especially in tropical areas like Florida
In this episode, Andy and Jessica are bringing expert guests to talk about how marketing can affect the sale of a business. Currently, there are so many opportunities regarding advertising for small businesses that it can be overwhelming for owners to decide which way they will choose to do it. There are plenty of new tech marketing ideas available to your business as well as all the traditional ways, and the truth is that the costs are now lower and some of them are even for free
Andy went to Australia and had great interviews to fill you in about how buying and selling businesses in Australia looks like currently. Australia is providing great opportunities for American business aiming to expand, in this episode you will hear about how the small businesses are proliferating in that area
Andy and Jessica have started this podcast because they realized there is not enough information about how to buy and sell a business, and one recurrent theme in this process is that people are scared, for some of the people engaging in purchasing a business for the first time and being involved in an unknown process, triggers uncertainty and insecurity
This is going to be the first of two episodes where Andy and Jessica will talk about growing and doing business in Australia. Andy traveled to Australia and met with the experts during the United Franchise Group Expo. Australia is a huge market — 25 million people population which makes it into a great place to do business. In this episode, you will hear Australian business owners that have been able to expand, some of them through mergers and acquisitions.
Andy and Jessica are bringing the experts to talk about all about insurance, an issue that comes in a variety of forms while selling a business, from workers comp to property insurance for hurricanes
Andy and Jessica are welcoming amazing guests today who will talk about how they grow their businesses through acquisition. They will dive deep into what the market looks like and how baby boomers are going to be retiring in the upcoming years, which will increase the market, unfolding a great opportunity to purchase a business to grow your own and even double it overnight
If you are wondering how can you raise money for your business, Andy and Jessica are bringing great interviews in this episode, going over the right and wrong ways of raising capital. Listen to this episode for a deep understanding of the process of raising capital and what types of investors you need to look at, considering the different stages of your business, mainly focusing on the traditional small business raising capital
Women entrepreneurship is growing out of control. Many economies across the world are seeing more women entrepreneurs than ever. Just in the U.S., there has been a 58% growth since 2007 in the number of women on businesses but the total number of new businesses has only grown 12%. In the UK it has grown 45% between 2013 and 2016. In the U.S., 12 million firms are owned by women, generating $1.7 trillion in sales and employing 9 million people
Pet care is a huge industry, making worldwide over 200 billion dollars and over 55 billion in the United States. This is a very passion-driven business and this is one of its most important features, but anyone entering this industry has to consider that it is still a business. Andy and Jessica are bringing two amazing guests that are very knowledgeable in the industry of pet care, Tim Vogel who talks about SCENThound and Heidi Ganahl former owner Camp Bow Wow
We all know that Baby Boomers are the largest generation in America and are also the largest generation that owns small businesses. It is speculated that two-thirds of the businesses in the market are owned by baby boomers, which would be equivalent to more than four million businesses, and now they are coming to the market. A lot of Baby Boomers are still focusing on growing their businesses but there is an increasing number of sales due to retirement
It has been 52 episodes of the Deal Board Podcast, one year of talking about business, valuation, different locations around the world and especially helping small business owners to understand the different markets and to get them closer to closing better deals. Andy and Jessica are looking forward to a great second year; soon Transworld Business Advisors will be launching a new website as well as the recent opening of their YouTube Channel
Andy and Jessica are bringing the experts to show what business sales look like when you are trading accounting and CPA practices. Ray Copell is one of the amazing guests; he has been in Transworld Business Advisors for 25 years. Ray has been a CPA and has participated in CPA sales as well as in legal practices, which have been sold more frequently these days with baby boomers selling their practices
Andy and Jessica welcome the experts to give their input on this matter — two great business sellers, Nathan Willis and Allie Allman, who will share relevant information about their transactions, as well as negative and positive scenarios that they both had to go through during the selling process and Michael Altschuler, who started in the entrepreneurial world owning a family copy business and after decades of growth received an offer that could not be refused
Being involved in your community and giving back can also be beneficial for your business. Transworld Business Advisors has been involved in charity since the beginning and this has had a tremendous impact on the business as well as on people’s lives. Giving back creates possibilities by increasing your connections and at the same time, it is a source of education regarding the needs that your community has and that could have an impact on your small business
Andrew and Jessica welcome the experts to discuss the hotel business industry. Robert Cunio, CBI, CBB, MBA, President of Transworld Business Advisors, San Diego Central and Dev Motwani who serves as President and CEO of Merrimac Ventures, a Fort Lauderdale based real estate firm that focuses on value-add investment and development opportunities. Property types owned and operated include hotels, condos, retail, office, and rental apartments primarily in South Florida
The Southeast is a great place for doing business and lots of companies are deciding to relocate there. South Carolina, North Carolina, and Georgia constitute a really big small-business market. In South Carolina, 99.4% of businesses are small, in Georgia, it’s 99.6% as well as in North Carolina. The population in this area has been constantly growing. Transworld has amazing brokers in the Southeast who will share their expertise about the market during this episode as well as Stearns Bank
This episode is bringing all the information about doing business in Europe, about the style and some of the sales techniques people use in this latitude since some adaptations need to take place when it’s time to do business with people that work differently in other countries. There are different communication patterns and it is something to be aware of when you are doing negotiations abroad, especially when every European country has its own negotiation style
If you are thinking about relocation or maybe just an expansion from your current business into a new market, the Pacific Northwest is definitely one to consider.
99% of business in Washington alone are small, making it into one of the highest percentages in the U.S., the same small business orientation is seen in Oregon. The continuous growth in this area demonstrates the strength of the economy, which is projected to keep its growth for the rest of 2019 as well as 2020.
Andrew and Jessica decided to go international again for this episode, France and the UK are the places in Europe where Transworld Business Advisors is setting its offices and making good deals for good people overseas too. In Europe, retail is very strong, there are plenty of small business everywhere and franchising is also blowing up significantly. The European experts from the UK and France, Michael Ziff and Carlo Paolucci, are giving their input about the economy in general
The technology industry is a fascinating one; if you are in the tech community and industry you will find this episode very useful. Jessica and Andrew welcome to this episode some amazing guests, one of them being Aaron Houghton, a serial entrepreneur who has started an email/newsletter software that has been one of the largest players in the industry, and also Matt Jaffe, who has founded a number of different texter apps
Publishing has made some major pivoting with online content, but the overarching message in this episode is that publishing is certainly not dead but, on the contrary, is very alive and thriving. Andrew and Jessica bring two amazing guests, one of them being Gary Press, who used to be the publisher of the South Florida Business Journal and is the best guy to talk about specialty publications. Andrew also talks with Jeanne Straus, CEO of Straus News
Andrew and Jessica bring great guests today to talk about personal branding. In these days with Twitter, Instagram, and Facebook, it cannot be any easier to brand yourself. There are many companies destined to build a personal brand, but this industry has been around for a long time. There is a myth about not being able to sell a personal brand, but there can’t be anything more personal than a psychology practice and Transworld Business Advisor has sold those.
The fashion industry,more specifically the clothing industry, has gone through major changes over the last few decades The fashion world is a very big business that has a lot of innovation and change and presenting tons of opportunities, especially for entrepreneurs and people who want to do business across borders. Catherine Schepis,an expert who has her finger on the pulse of the fashion industry,and Emmee,who is a renowned icon in the fashion arena,as well as the owner of her own fashion line
In this episode, Andrew and Jessica are diving deep into the fitness industry, to give you a look at what are the trends in this industry at the moment, and also what companies are selling for. They are bringing the experts to give valuable information and to talk about the trend of smaller studios, which are really thriving and being successful in the fitness industry versus the traditional big gyms since people are choosing something that is more compact and specialized
This one is a very special episode, where you will hear about a company that started 40 years ago and just keeps on growing and succeeding: it is Transworld Business Advisors. Andrew talks about the founding story of Transworld Business Advisors, which started as a real estate business and became the great company of business brokers that it is today
Andrew and Jessica are diving deep into the opportunities arising in the Mid-Atlantic region. They bring the experts from Transworld Business Advisors offices in Washington DC, Virginia, and Maryland to get the pulse of the market and see what businesses are selling for in this region. There are more than 20 million people in this area, 2 trillion dollars in GDP, 2 and-a-half million small businesses, which have shown a 2.5% growth rate in 2017
Andrew and Jessica are continuing on this second episode, giving great information and resources for veterans that want to get into business. There are many opportunities awaiting and some amazing guests offer their knowledge and information about them, such as Rosy McDonough, Director of the Minority Business Office in Colorado, and Amanda Bainton from Military Office Association of America
Veterans’ owned businesses are a huge contribution to the economy. Veterans are college educated, have great knowledge about how to work in tough situations, and just are perfect entrepreneurs. Veterans’ businesses are known to last longer and grow faster, also veterans are 30% more likely to employ other veterans creating great opportunities and successful businesses.
Andrew and Jessica talk about the huge marketplace for virtually anything in the Northeast corner of the U.S. There are about 50 million residents and 3 trillion dollars in the GDP, called the largest megalopolis in the USA with 3.5 million small businesses according to the SBA, and also being one of the strongest and healthiest growth markets. Most of the states in this area have grown at a healthy three to four-and-a-half percent
There are different experiences that sellers have when selling their business; Jessica and Andrew have seen 12 serious mistakes that can be made in this process and they address how to prevent them. Selling a business is not easy and having a great team, including a lawyer, an accountant, and a great intermediary are vital to assure a successful deal. There is a lot that great entrepreneurs don’t know since they might build a profitable business but yet haven’t been in the process of exiting
If you are looking to purchase a business where real estate plays a major component in acquisition, this episode brings lots of valuable information.
Andrew and Jessica bring John Wall, a lending expert from Live Oak Bank, who talks about financing real estate as part of the business acquisition
As promised, Andrew and Jessica are bringing Robert Johnson back; on a previous episode the conversation with him about Minority Investment brought the concept of opportunity zones to the table. During this episode, Robert Johnson talks about how opportunity zones are related to the investment community in real estate and business acquisition.
Robert Johnson, the President of Transworld Business Advisors in Chicago Downtown, is joining in as a host of this episode. He is the creator of a new economic model called Social Determinants of Wealth, the purpose of which is to reach out to communities where their members do not own the jobs they work in, and subsequently, all the gains tend to leave the community.
Divorce is a heavy topic that has an impact on business sales. This episode addresses the challenges and important aspects that couples in the process of getting divorced need to have under consideration at the time of selling a business, whether both used to work in the business or only one party.
The expert guests explain what is like to get a divorce when you own a business
The restaurant industry represents a major part of the sales Transworld Business Advisors make every year. Andrew and Jessica are welcoming expert guests to this show, who give away some of their secrets for buying a new restaurant. Decades of experience in the gastronomy business have given today’s guests the ability to find trends in the business and to find the right opportunities
Andrew and Jessica have talked on previous episodes about valuation; one of the methodologies is the market method which compares past sales, multiples of earnings and percentage of sales to the sales price. It is one of the most reliable approaches for valuation and what eventually comes out of these data points are rules of thumb
There is a myth about retail dying since everything seems to be happening online. Retail is reinventing itself and pivoting into a new form. The experts are joining Andrew and Jessica, to tell the truth about what is going on in this market. There are tons of opportunities for people who still want to go out, touch, feel, and have the real experience of buying.
Andrew and Jessica are welcoming expert guests today to talk about M&A deals and their particular features. If your business has reached a million dollars in earnings, you have the chance to be noticed by larger companies. The buyers in the M&A market are very well represented, and building the right team to represent your business in a transaction is very important. Transworld Business Advisors has an M&A department in Tampa, to give the specific service these kinds of deals need
In this episode, Andrew and Jessica went around the world and interviewed some of Transworld Business Advisors’ master franchisees from Australia, the UK, South Africa, and France and found some great opportunities for international buyers to educate themselves and find out what is going on on the world stage. Change brings a lot of opportunities for investment, acquisition, and even relocating to a different country to take advantage of economic growth
Texas has always been great for business, but in the last ten years large companies and small business have continued to grow with a net migration of 1.4 million people moving to this amazing state. If Texas would be a stand-alone country it would be the tenth-largest economy in the world. Texas has favorable tax laws and it’s very business friendly.
Andrew and Jessica are diving into the topic of immigrant investors in the U.S. They bring the experts to enter into the specific traits of each visa designed for this purpose, the EB-5 Immigrant Investor Program, the L1 Visa and the most popular E2 visa. This is a great episode for sellers to educate themselves about this potential buyer market for their business
Andy and Jessica inspired on the latest US government shut down for 34 days decided to dive into the topic of how this large economics events affect business owners. Nowadays the world is all interconnected, through banking, currency exchanges and trade; the internet had brought all the nations together and as a result when one suffers there is a chain reaction in the others. Listen to this episode to learn more about business resilience.
Andrew and Jessica, along with two amazing guests, Kerry Cole, Executive director of Becca Cosmetics, and Corey Saban, founder of Videobolt.com, are presenting inexpensive and even no-cost strategies to grow your following in social media and make your business grow and even increase its value. Social media is a great tool to connect with customers, keep the engagement with them and really promote your business
Andrew and Jessica dive deep into seller financing, which is a loan given by the seller who acts like a bank and is a crucial component in buying a business, to the extent that almost every deal relies on it. Banks, on the other side, want to see the seller invested in the buyers’ success, believing in their own business and in the deal itself
You have heard of fix and flippers for homes, but what about businesses? Join Andy & Jessica as they explore the 'fix and flip' market for small business sales. Three experts join the show to share their insights and strategies into this growing market opportunity.
Andrew and Jessica will lay out all the details about buying a business. The process of acquiring a business can bring a lot of frustration since the market is currently dominated by sellers. The advice from the experts in this episode will help set you apart as a buyer competing for deals in the marketplace and, even if you already own a company, will assist you in making your business grow through acquisition
As a business owner, you may wonder what you should do to prepare your business for sale. In this episode, Andrew and Jessica bring three amazing guests who are experts in closing deals, such as Michael Shea, Mitra Sanai, and Jim Tatem; they are displaying the tools and advice you need to increase the value of your business while having it ready to sell
Andrew and Jessica welcome to the podcast two influencing and inspiring men: Jim Tatem who is the President of United Franchise Group, explaining the pros of goal setting, and Bob House president of BizBuySell, talking about what kind of business activity goes on during New Year and what can be expected for 2019 related to business sales. This episode is a great way to start the year, the aim is to help you to set your business goals for the next few months for a great and profitable beginning
Andrew and Jessica wish you Merry Christmas! Some of the businesses experience their biggest boost and revenue these last two months of the year. Did you know that this year it is expected for consumers to spend over a trillion dollars in these holidays? Listen to this episode and find two amazing business opportunities as well as knowledge about the aspects to have under consideration when selling or acquiring a business that makes its major revenue during the holiday season
Andrew and Jessica are diving deep into financing along with experts in this arena who will provide very useful information. If you are looking to reinvest in your business using your retirement funds to make a business transaction or if you are struggling in getting the requirements to get a loan, you will find this show perfect for you! Know your options and take advantage of this great time of the economy to make your business grow or acquire a new one
Andrew and Jessica talk about franchising and about the opportunities that can be found in this kind of business as well as how to start one and expand it. This episode counts with the participation of amazing guests who have plenty of experience and knowledge in the franchising world, who know what makes franchising successful and what to look for in a successful franchise. Did you know that only 15% of businesses that start from scratch have success compare to 90% success for franchises?
Andrew and Jessica are diving deep into the topic of distressed businesses, which are the ones that will not be sold at their value; these businesses are in trouble or have a huge amount of assets that impact on their value. The key when selling a business in distress is finding the right buyers who are taking advantage of an opportunity to acquire assets at a lower price. Listen to real cases of businesses that were barely making or losing money and still were good acquisition deals for buyers
Sometimes the only way of expanding a business is franchising. Andy and Jessica explain in this episode the different aspects of this exciting endeavor, as it is the transition from owning a business to being a franchisor. Listen to real cases of successful business extending their boundaries, including the testimony of Andy with the franchise of Transworld Business Advisors. Is your business ready to be franchised? Are you interested in becoming a franchisor?
Andrew and Jessica present the reality of a lot of businesses that find Thanksgiving their most profitable part of the year; some business acquire many customers and owners find a great opportunity to capitalize from this income. If you are looking to sell or purchase a business there is a need to understand the seasonality of the business timing the acquisition is crucial. Listen to this episode to learn more about how to take advantage of the holiday season to increase the value of a business
Jessica and Andrew emphasize the importance of keeping neat books and records during this episode. Real cases are exposed in detail, in order to have a clear picture of the serious influence that good or poor books and records can have on a deal. Brokers from Colorado and Florida talk about how they overcome the challenges they encounter while selling a business with inconsistent or lack of information about their income and expenses