I had an interesting conversation with an old friend the other night at a local town meeting who works for a national business broker chain (VR). I have dealt with them on and off over the years. They are kind of difficult to...
Read MoreDespite the ability to bootstrap deals, which still exists today, the best deals will probably be in the middle range.
Read MoreDeal flow is the life blood of the business buyer. It is our pipeline. It is the same in any other sales machine. You need a consistent flow of leads in order to make your business work. When you are a small shop, or even a one man shop, this takes time and effort.
Read More… we only work with wealthy people who pay us to search… [not you]
… we have hundreds of people just like you who want a deal… [so get lost]
… most of them are bottom feeders… [just like you]
… we have done hundreds of deals and been around 50 years… [so I’m better than you]
… And your website is junk too… [if I didn’t insult you before I just did now]
… Good luck with your search… [get lost and don’t come back]
You cannot put out an offer unless you have enough info to do your valuation. Generally this means at least two years of accountant prepared financials plus an interim in-house statement. Financials mean balance sheet and P&L plus reconstructed profit as estimated by the seller/broker.
Read MoreAnother technique to draw in sellers of small businesses is networking with deal professionals. This includes lawyers, accountants and other people such as valuation companies, appraisal companies and banks. All of these sources...
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