Business Buying Services

15 Questions Every Business Buyer Should Ask Before Buying

desim — Wed, 18 Apr 2012 08:07:55 +0000

15 Questions you should ask before making an offer, when buying a business.

By Willard Michlin-CPA

Most people have questions they need answered before making an offer and before hiring help to evaluate, audit or review the business. The most commonly asked questions are as followed:

What information should I ask for? The broker ... (Click here to continue reading "15 Questions Every Business Buyer Should Ask Before Buying")

Finding Out the Seller’s Motivation

desim — Tue, 10 Apr 2012 08:02:02 +0000

What Motivates a Business Seller?

When working with buyers as a business broker and a CPA doing due diligence, the buyers universally ask one question. “Why is the seller getting out?

This is a good question but the question I ask is, “How do you know if the seller is telling you the truth?”

It ... (Click here to continue reading "Finding Out the Seller’s Motivation")

Why Don’t More People Buy Businesses?

desim — Fri, 06 Apr 2012 09:51:02 +0000

Why More People Do not buy a business? By Willard Michlin, CPA, CBB

September 13, 2011

Introduction

The business brokerage industry throws around a number of “one in 14 buyers actual buy a business.” This is based on statistics gathered from some old time brokers. They must of actually kept track of how many ... (Click here to continue reading "Why Don’t More People Buy Businesses?")

Avoiding Fraud When Buying a Franchise Business

desim — Sat, 31 Mar 2012 07:50:15 +0000

Do You Think You Do Not Need Due Diligence When Buying a Franchise?

Opening up a new franchise location can cost upwards of $250,000. This is a lot of money for a business buyer to invest in a new unproven location. New investigative reports are now stating that the selling of new franchise locations is ... (Click here to continue reading "Avoiding Fraud When Buying a Franchise Business")

How to Evaluate the True Worth of a Business: Adult Day Care Centers

desim — Sun, 20 Nov 2011 23:38:24 +0000

Business Evaluation Case Study – Adult Day Care Centers

By: Willard Michlin

Is the claim that there is big profit in Day Care Centers, too good to be true?

Are Adult Day Care Centers making the big money they claim?

Last year I was asked to do a business evaluation and financial review of ... (Click here to continue reading "How to Evaluate the True Worth of a Business: Adult Day Care Centers")

Business Buying Horror Story – Hair Salon, Due Diligence Requires Real CPAs

desim — Mon, 14 Nov 2011 17:09:26 +0000

Salon Business Due Diligence

In most of my writing, I talk about fraud and misrepresentation by sellers to buyers. I have come to realize that the problem is much deeper than I thought. The buyer’s and business names below are real.

Dr. Charles Partito is an experienced business buyer. He reports that he has ... (Click here to continue reading "Business Buying Horror Story – Hair Salon, Due Diligence Requires Real CPAs")

Business Buying Horror Story: Dog Kennel – He Never Got His Questions Answered

desim — Mon, 14 Nov 2011 15:12:56 +0000

Pet Business Due Diligence

“Bill” and his family were looking for a dog kennel and went on to the Internet and started looking at various “Business for Sale” web sites. He located a dog kennel for sale with real estate in another state. Bill and his family had experience with boarding animals so it seemed the perfect business.

Without visiting the actual ... (Click here to continue reading "Business Buying Horror Story: Dog Kennel – He Never Got His Questions Answered")

Business Buying Horror Story: Pizza Parlor – He Did Not Do Any Due Diligence On Any Level

desim — Mon, 14 Nov 2011 15:11:12 +0000

Pizza Parlor in San Fernando Valley, California: This is an interesting deal. “Joe” the recent purchaser had been in this business before, some years back. He also saw our Due Diligence 101 article on one of the Business for Sale Websites. When asked why he did not hire us to do even a quick preliminary review of the purchase, he ... (Click here to continue reading "Business Buying Horror Story: Pizza Parlor – He Did Not Do Any Due Diligence On Any Level")

Business Buying Horror Story: Floral Wholesale – The Seller Misrepresented Everything

desim — Mon, 14 Nov 2011 15:04:31 +0000

Florist Business Due Diligence

Floral Wholesale – Riverside, California: Some months ago a San Diego Police Officer in the process of purchasing a business (for his wife) retained Due Diligence expert Willard Michlin of Moorpark, California to assist him in determining if the seller of Floral Wholesale was accurately representing the profitability of the business. The asking price for the ... (Click here to continue reading "Business Buying Horror Story: Floral Wholesale – The Seller Misrepresented Everything")

Business Buying Horror Story: Auto Parts – She Failed to Do Due Diligence

desim — Mon, 14 Nov 2011 15:01:10 +0000

Automotive Business Due Diligence

Wholesale Auto Parts Distributor: L.C. decided she wanted to own a business that would pay her at least $10,000 per month profit. She looked around and found an auto parts distributor that sold auto repair parts to mechanics. The business was located in an industrial neighborhood where many Auto Mechanics were ... (Click here to continue reading "Business Buying Horror Story: Auto Parts – She Failed to Do Due Diligence")