Last week I received a phone call from Dan in New York City. He and his wife decided it was time to get out of Dodge and move to Southern New Jersey, where the air is cleaner. Dan had located a brick and mortar school that had some online presence. Since the COVID-19 shut down they quickly converted to 100% on-line classes. But now the business owners want to sell Read more
Last week, at the end of the day, I was ready to go home, but because I had to wait for my wife, I could not. Not being one to lay back in my chair, and close my eyes, I had an idea. It has been months since I acted like a business buyer and went on the web to see who in the cloud also offered CPA Due Diligence services. To my amazement I came up on the first page!
Next, I put in due diligence services and I found dozens of listings related to due diligence computers. I am not young enough to compete with computers that do due diligence and I do not understand how a computer can even do “due diligence.” Will someone tell me how a computer smells fraud? Read more
Let me explain my relationship to the Fire & Water Restoration industry. I have been a business broker selling main street businesses for 25+ years. I also am a CPA that does the necessary due diligence when a buyer finds a business they want to buy. I have done my share of fire and water restoration companies over the many years. Lastly, I own a landscape inspection company that does inspections for insurance adjusters on their claims received when it involves damaged landscaping, usually due to fires or floods.
In this article we are going to talk about the pluses and minuses of being in the restoration business. We will also address the reasons to buy or not buy a franchise. ServPro™ is the largest franchise in this industry. Read more
Very few business owners think they are making all the income their business is capable of making. In fact this is overwhelmingly the number one complaint that business advisors hear.
Find the answers by clicking on this link Read more…
Upfront Appraisal or Valuation Fees by Business Brokers I live in California, where upfront fees are illegal. The way brokers can get around this in California is to charge for an appraisal and be paid for it. After the appraisal is completed, the broker can ask for and receive a listing. If the listing is […]
How to handle brokers wanting offers before due diligence We have all heard of “The battle of the sexes”. What is not as well-known but as difficult a battle “is the one between “brokers and business buyers” regarding getting a business’s financial information. This article will discuss: 1. How to get listing brokers to release […]
It is important to protect yourself from forfeiting your deposit when you sign a purchase contract. This would seem to be a very obvious statement. Except, what is not obvious is that so few people know how to do that. The result of inexperience is that too many people lose their purchase deposit. The deposit checks vary from $5,000 to $50,000 or even more. Read more
Hard to believe, but restaurants, fast food and other types of food manufacturing or food distribution businesses compose fifty percent of all small businesses sold. Fifty percent! This means a lot of you buyers are buying restaurants.
Buying a Smog Shop in California
There are millions of cars that need a smog check every year in California. So buying a smog shop can be a good investment, or it can be a bad choice. How can you tell if it is a good idea?
The State of California allows smog centers to either test the car’s emissions or to repair the car to meet the requirements. The Department of Consumer Affairs/Bureau of Automotive Repair directs vehicles that are more likely to fail, called high emitter profile, to a Test Only Center.
What is High Emitter Profile? Read more
Dad died in November 2016 at 96 years old. His primary goal for the since 1980 was to turn the business over to one of the children or grandchildren. Which person that would be changed every few years. When I was in college, I thought it would be me. But by the time I was 27 years old, and my mother died, it became clear that I had bigger dreams then my dad. I left to become a buyer of foreclosure real estate, and make my first small fortune. My brother-in-law, Jerry came into the business along with Shana, my new step-sister. Jerry ran sales and production. Shana ran the office and handled anything dad needed to be done. Dad ran the business but on a part time basis. His new wife wanted dad to smell the roses and see that there was more to life then business. Dad loved business and regretted every retiring at all, even when he physically and mentally was forced to.
California Licensed Real Estate Broker #00529559
Certified Public Accountant (CPA) # 106752
Certified Fraud Examiner (CFE) #594927
Professional Certified Business Broker (CBB) designation
Business Buying Services
PO Box 2734, Seal Beach, CA 90740-2734
Phone: 805-428-2063
Fax: 562-446-0575
