Why Should You Buy an Established Business?
A pre-existing business is a proven commodity. A new business, regardless of how great your idea may be, will always have a future that is uncertain. You can hire many consultants and plan meticulously. Yet, even with the best ideas and most experienced consultants, your newly minted business could still quickly fail. A business with a long track record of success provides you with a degree...Read More
What Should You Expect from Your Business Intermediary?
Eventually every business owner needs to sell or think about who will take over their business when they retire. Working with an intermediary is an easy and streamlined way to jumpstart the process and learn what mistakes to avoid. A business broker or M&A advisor can help you to understand what steps to take to achieve optimal results. Teamwork Makes the Dream Work First, it is simply...Read More
Just when you think things are going along smoothly
Just when you think everything is going smoothly in a transaction, never say it out loud because you know what is coming next… Something to derail it will pop up. And, sure enough it did on one of our most recent SBA financing transactions that involved a business acquisition of a profitable well-established restaurant. In June of 2023 we processed a loan request...Read MoreChair’s Letter
We have already completed the first quarter of 2024. How time flies. From my communications with members, business seems to remain strong. Let’s keep pushing and make 2024 a monumental year. As always, there’s a lot going on here at the BBF! Here are some key updates and reminders to help you take full advantage of everything your association is...Read More