Crime Does Pay When Buyers Don’t Do Due Diligence
Don’t let your business purchase lead you into becoming the victim of white-collar crimes. Find out more from our business buying experts.
Entries by Willard Michlin
Vital Things you Need to Know About Valuing a Business
Putting a value on a business is a separate function from auditing, evaluating or doing “due diligence.” There are three or more generally accepted methods of valuing a business. These are: Comparable sales: What have other similar businesses with similar financial information sold for?
Due Diligence Investigation: Just Call Me Sherlock
When buying a business one has to see what is not on the financial documents that are provided by the seller. To do that you need to graduate the Sherlock Holmes College of Observation. Mr. Holmes was famous for seeing small clues that appeared to others to be meaningless. But in truth they were the […]
Business Buying Horror Story: Dog Kennel – He Never Got His Questions Answered
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 “Businesses 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.
Due Diligence Case Study: Poor Bookkeeping Leads to Confusion
This is a true story of one of my due diligence assignments regarding a thief operating from within a tree trimming and landscaping company in Northern California.
Business Evaluation Pitfalls: How to Evaluate the True Worth of a Business: Sanity Check-Buying A Business
Getting the True Value of a Business. In the business broker community there is a review process that helps a buyer determine if a business purchase makes sense or not. This check can be done by a Fortune 500 company where everything is figured down to the penny and takes 1000 hours of research or […]
Buying a Business: Disasters When You Don’t Have Your Own Agent
Should you allow a Dual Agent or Get your own buyer’s Agent? A Changing, More Aggressive Business Buying Market Yesterday, I was reviewing a buyer’s signed escrow instructions. He came to me after signing the escrow instructions and purchase contract, as his agent had said he should. His agent said he needed to hire someone […]
How to start your own business & be successful
Do you want to start a business and be successful? In the movie and play South Pacific there is a song called “Happy Talking.” The words to that song go something like this (feel free to sing along if you know the tune): “Happy talk, keep talkin’ happy talk, Talk about things you’d like to […]
Everything You Wanted To Know About Buying An Auto Body Shop
A body shop can be a great investment, if you are the right kind of buyer. Who is the right buyer? Let’s discuss that in detail. Here is what we will cover in detail.
5 Ways to Protect your Purchase Deposit from Theft
Whenever you make an offer for a business and put down a deposit you are putting yourself at risk that it could be forfeited to the broker and/or seller. Here are a few things you can do to make sure that does not happen: Business purchase deposit protection Write LOI (Letter of Intent). This is […]
Willard Michlin, CPA, CBB, CFE
California Licensed Real Estate Broker #00529559
Certified Public Accountant (CPA) # 106752
Certified Fraud Examiner (CFE) #594927
Professional Certified Business Broker (CBB) designation
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For Business Due Diligence, Expert Witness and Consulting Services
Business Buying Services
PO Box 2734, Seal Beach, CA 90740-2734
Phone: 805-428-2063
Fax: 562-446-0575
