Presenting the right CIM, CBR or Brochure for your listing
Our duty as Brokers is to showcase our business listings with as much detail and accuracy as possible so as to wow the Buyer. One way to do that is through the preparation of a Confidential Business Review (CBR) or a Confidential Information Memorandum (CIM). These two terms are often intertwined and used in the same manner. The difference between these two documents is that the CIM...Read MoreSeven Reasons Why a Buyer May Expect Working Capital to be Included in the Sale Price of a Business
What is working capital? Working capital represents the short-term liquidity and financial health of a business. Positive working capital can indicate the business is well-managed and financially stable. Working capital is the money available to meet current, short-term obligations. It is calculated by subtracting short-term liabilities from short-term assets. Short liabilities...Read MoreBuying a Business: What is the Real Value of a Business?
Using “multiples” to value a business may be a disservice to both the seller and buyer. “Multiples” may not represent the real value of the business. Multiples are generally median or average values published in the BBF MLS or in Pratt Stats/Deal Stats. However, these are just convenient “midpoints” that do not represent any specific...Read MoreProfessionalism at its Core
I recently completed a comprehensive program of next-level professional education, achieving the Master Certified Business Intermediary designation. In this inaugural Masters cohort, I was fortunate to learn with some of the industry’s most professional and vastly experienced business intermediaries and M&A advisors worldwide; in addition to that, the professors that taught...Read MoreUnderstanding the E-2 Visa Program
If you work in the field of business brokerage you most likely have heard of the “E-2 Investment Visa”. However, this program is little understood and there are many misconceptions. In the following article I attempt to clarify what this program is and how we as business brokers are uniquely qualified to offer assistance. The E-2 visa is an investment based...Read MoreShaping the Future of the BBF
Orchestrating the progress of the BBF as usual, the Board of Directors met on the 22nd of September 2023, in the first in-person session since 2019. It was the first of many future third-quarter face-to-face board meetings. The meeting format was scheduled where the board of directors met in the morning half of the session. Then, the afternoon session was open to all members. It was a...Read MoreThe Power of Specializing in a Niche
For years, I’d heard the saying: “The riches are in the niches.” Although I believed it, fear prevented me from truly adopting it in my business brokerage practice. I kept asking myself: Could I turn away listings outside my niche? How much revenue might I lose? What if specializing failed? Though I often considered specializing,...Read More