Business Buying: 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. That’s where our array of business buying services come in.
Business Buying Services: 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.
So What Does Due Diligence Address?
It addresses the plus and minus of the specific industry. 25 years of experience taught Mr. Michlin a lot of information about a wide range of industries. Real Estate/Construction, Finance, Restaurants, Retail Manufacturing, Auto Body Shops, E-commerce, etc.
It addresses the quality of the management’s style. How have they been doing at running the business and what changes a buyer might need or want to make after acquisition?
It addresses the accuracy of the financial records. Do they fairly represent what the business has been and will be making as profit in the future? This usually requires corrections to the financial statements.
It addresses what is the true value of the business based on the newly determined profit. Should the buyer consider over paying for the business, if that is what it is going to take to make a deal?
It addresses the lease terms as well as what is in or should be in the purchase contract, to protect the buyer, if the negotiations fail.
Contact us to find out more about how Willard Michlin can help you fulfill your dream.
Due Diligence Checklist: Don’t Cheat the Process when Buying a Business
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.
What is covered in Due diligence?
The purpose of Due diligence is to verify that what you the buyer gets with your purchase is what you though it was. When we are looking to buy a business, we usually only see our dream of owning a wonderfully profitable and challenging business. One we are excited to go to every day.
In order to know that we are buying your dream instead of a pig in a poke, we need to do a review of the business. To do that we need our experience and the experience of one or more people who are professionals at objectively looking at your dream.
Willard Michlin has been doing these very reviews for over 20 years.
Your business dealings are at a critical juncture right now. You need the right kind of expertise on your side. We’re not looking for a cut, we have no reason to sway you one way or the other. We just take a real, informed, honest look at the deal and lay it all out for you, along with our precise recommendations. Save yourself the headaches later and let us take a look, see if we see pitfalls coming up.