Letter from the Owner: The Business Buying Dilemma
The valet at your favorite Italian restaurant is a ravishing blonde from Kiev who is tall enough to play point guard for the Lakers and has a smile that lights the boulevard and lifts your spirit.
You love this place: the food is exquisite, the atmosphere, lighthearted and carefree, the service superb.
You have ordered and have just started to nurse a spectacular glass of Pinot Grigio when the owner/chef, Tomaso, walks over to your table, greets you and asks if he can sit down.
You’ve been coming to Il Trattoria Tomaso for a decade and have often had a chance to tell Tomaso how much you enjoyed the experience.
After social chit chat, Tomaso turns a bit more serious and says, “I’m going to sell the restaurant and my website that markets the branded sauces. It’s time I returned home to Milano and wrote the great Italian cookbook. Would you be interested in buying my little enterprise?”
Your mind explodes with possibilities. You try to suppress your delight, but cannot. “Yes, Tomaso, I’d be very interested.”
And the process is started.
Buying a business can be one of the most exhilarating and creative experiences of a lifetime. But to enjoy that experience, your decision to buy a business must be based on truthful and accurate information or dreams can turn into…well, nightmares.
Ensuring that does not happen is where I come in.
My name is Willard Michlin . I am a CPA as well as a Certified Fraud Examiner and have represented potential business buyers for more than a quarter of a century, ensuring that what the seller represents is both correct and honest.
After conducting due diligence on more than 1000 businesses over the last quarter century, I am here to tell you that sellers can hide financial information from prospective buyers in some of the most creative nooks and crannies imaginable.
This is not always the case of course. Some sellers are open and straightforward. But in many more cases than you would think, sellers present the picture of their business that they want the buyer to see, and sweep the financial warts under the financial statement.
We have flashlights and microscopes that bring that information to light so that you can make a truly informed decision. In addition to myself, I have a staff of lawyers, CPAs and industry consultants that will validate what your seller is telling you, or show you where he is not.
You wouldn’t buy a house without a home inspection and termite report, and you shouldn’t buy a business without a due diligence inspection by experts. If you are considering buying a business, call us for a free consultation and quote on our due diligence services.
CPA #106752, CFE, CBB
You’re Buying a Business:
Do Right By The Process
You know what you want: to buy a business, and to bring the rewards of that transaction into reality. Perhaps you want a particular kind of business. Perhaps you want an investment, or to run the company yourself. It’s a murky area. Apparently good investments can be bad choices. So much depends on the accuracy of the financials. A potential business could have problem areas that aren’t immediately evident without a full due diligence rundown.
Sometimes there are pitfalls that experience would have predicted, but aren’t immediately evident. That’s why you need expert help.
The Power of Expertise
There are endless possibilities. If you want to be certain that the choices you make will bring you the greatest reward as a potential business owner, your wisest first choice is to get a true expert on your side. Someone who has no ulterior motive other than your complete satisfaction in the process of buying your business, and who has decades of successful experience behind him. Someone who has been a broker, has been a buyer, has been the CPA investigating the books, and has extensive training in fraud examination. Willard Michlin’s experience and expertise combine to provide you with what you’re missing: a clear path ahead.
Due Diligence Checklist:
Don’t Cheat the Process
We offer a twelve point business due diligence checklist for potential buyers to use in considering whether to buy a business, and how to best go about the process. It’s the least we recommend. You’ll need this data to avoid the most common pitfalls. Just click on the link in our sidebar to get it. Because you probably need more than that, we recommend that you contact us for the free initial consult. There really is no catch. You’re not required to continue to utilize our services, and the advice you receive is honestly yours to keep. You’ll get a chance to meet the man behind this site for yourself, and get some expertise and experience, powerful tools you can utilize to make the process of buying your future business a successful, enjoyable venture.
Go through the list of services above, and choose the one best for you and your company. If you just want advice, we do phone consults and more. Just call and we’ll get you started down the right path.