Tuesday, March 16, 2010
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Creating Value in Privately Held Companies

Creating value in the privately held company makes sense whether the owner is considering selling the business, plans on continuing to operate the business, or hopes to have the company remain in the family. 

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A Buyer's Quandary

Statistics reveal that out of about 15 would-be business buyers, only one will actually buy a business. It is important that potential sellers be knowledgeable on what buyers go through to actually become business owners. This is especially true for those who have started their own business or have forgotten what they went thorough prior to buying their business.

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Why Do Deals Fall Apart?

In many cases, the buyer and seller reach a tentative agreement on the sale of the business, only to have it fall apart. There are reasons this happens, and, once understood, many of the worst deal-smashers can be avoided.

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Buying a Franchise: What It's Worth to You

If you are considering entering the world of franchising, an important consideration is assessing the value of the business. All of the following factors either affect or help determine valuations of typical franchise operations.

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Who Is the Buyer?

Buyers buy a business for many of the same reasons that sellers sell businesses. It is important that the buyer is as serious as the seller when it comes time to purchase a business.  Here are just a few of the reasons that buyers buy businesses:

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Why Sell Your Company?

Selling one's business can be a traumatic and emotional event. In fact, "seller's remorse" is one of the major reasons that deals don't close.

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What Do Buyers Really Want to Know?

Before answering the question, it makes sense to first ask why people want to be in business for themselves. What are their motives? There have been many surveys addressing this question. The words may be different, but the idea behind them and the order in which they are listed are almost always the same.

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Selling a Business: How Long Does It Take?

Why does it take so long to sell a business?  Price and terms are the biggest reasons.

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Today's Business Buyer: A Profile

Today's independent business marketplace attracts a wide variety of buyers eager for a piece of ownership action. Buyers of small businesses are most likely replacing lost jobs or searching for a happier alternative to corporate life. Buyers of mid-sized and large operations are, typically, private investment companies seeking businesses to build and eventually sell for a profit.

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Dispelling a Buyer Myth

Most prospective business buyers really don't know from the outset the exact type of business they want to buy. Experienced business brokers and intermediaries know that many business buyers end up with what is sometimes a far cry from what first captured their imagination.

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Sean Lacy, CBI, CMEA

President
Email: sean@horizonbi.com

Sean Lacy is the founder and President of Horizon Business Investments. He started HBI with the goal of creating the most client oriented business brokerage firm in the country. 

Sean is a graduate of The University of North Carolina at Wilmington with a degree in Business Management. Prior to starting HBI, he worked with Business Brokerage Press, Inc., the premier support company for the industry, having the unique opportunity to learn the brokerage business from Tom West. Tom is widely considered to be the foremost expert in business brokerage and was founder of the International Business Brokers Association (IBBA). While with BBP, Sean assisted in development and sales of new products and systems, customer service and support and new broker education.

In 2006, Sean became one of the youngest brokers in the country to earn the prestigious Certified Business Intermediary (CBI) designation from the IBBA. This required more than 70 hours of coursework with rigorous examinations as well as a comprehensive test and experience selling businesses.  Sean has also obtained the Certified Machinery & Equipment Appraiser designation through the NEBB Institute.

Alan Clark, CBI, CMEA

Managing Partner
President of The Hatteras Group
Email: aclark@hatterasgroup.com

Alan has been an active business owner since 1994. His career has included positions in Engineering Services and Technical Sales. He purchased a small manufacturing business in 1994 and later, along with a partner, started a successful adhesives business.

Alan is experienced in buying and selling a variety of businesses, from manufacturing to services. He founded The Hatteras Group, Inc. in 1998 and is a licensed realtor and CBI, Certified Business Intermediary. Alan has two daughters.

Tom West, CBI

Advisor

Tom West serves as an advisor to HBI. Tom is the founder of Business Brokerage Press and publisher of the Business Broker Magazine as well as the author of numerous books. He is also the founder of United Business Investments (which grew to over 50 offices), and co-founder and past president of VR Business Brokers- one of the largest business brokerage franchises in the world.

He has written or co-written numerous books including, Business Brokerage Basics, Business Brokerage: Managing For Profit,the Handbook of Business Valuation, The Complete Guide to Business Brokerage, and The Business Reference Guide.

Tom is the founder, past president, and former executive director of the International Business Brokers Association (IBBA). He is a frequent lecturer and seminar leader for business owners, prospective buyers and the professional business brokerage community. Tom is probably the most knowledgeable individual in the country concerning the issues of buying or selling small to mid-sized businesses.
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