Why Now is the Time to Buy a Business

Andy and Jessica welcome you to another episode of The Deal Board. Today, they are going to talk about why now is the best time to buy a business. Yes! Now. In the middle of a pandemic, even though the uncertainty. There are plenty of reasons to be an entrepreneur and lots of opportunities rising at this particular moment in history. The current market is creative and dynamic with many buyers and businesses ready to be acquired. In this episode, you will hear some great interviews from actual buyers and sellers who will share their selling experiences during COVID-19. Also, Michael Shea gives the main reasons why now is a great time to buy a business. Listings of the week: Michael Ziff (UK, London). Jewelry business with six shops on the South coast of England, established in 1982. Great opportunity for international buyers. Asking Price: 2.28 million pounds (1.5 million upfront). Contact Michael at [email protected] or call (004) 7712-867215 Key takeaways: [8:05] Leo Sharky, recent buyer of an HVAC company [8:19] Leo talks about his background in business and how he became the owner of an HVAC company. [11:48] Leo shares what he found attractive about this particular deal. [15:45] Leo shares another outstanding aspect of this deal. [16:55] Leo shares what he learned during the process of buying a business in the middle of a pandemic. [18:52] Leo talks about his new business. [20:25] Deal of the week : Gary Goldwasser (Rocky Mountains) sold a large landscape/nursery in the Denver metro area that was making $8.9 million in revenue before COVID-19. The buyer raised all the capital from a private equity firm; the deal was structured into three parts: money upfront, the buyer kept 20% equity of the business, and the option for each to sell at any time. SDE: $5 million. Final Price: $18.3 million. [26:18] Dave Mena from Militello's Italian bakery shares how he got into business. [29:55] Dave shares why he didn't want to start a business from scratch again. [31:51] How to best approach the market place. [33:51] Dave shares the specifics about the transition from the previous to his new business. [36.00] Listing of the week: Michael Ziff (UK, London) Jewelry business with six shops on the South coast of England, established in 1982. Great opportunity for international buyers. Asking Price: 2.28 million pounds (1.5 million upfront). [38:42] Michael Shea (Central Florida) explains why this is a good time to buy a business. [42:41] Michael shares what he considers are the first steps in looking for a business. [46:33] Michael shares some "prophetic" videos he found from 2008/9. Mentioned in this Episode: The Deal Board Podcast United Franchise Group Transworld Business Advisors Transworld on Linkedin Transworld on Facebook Call us — (888) 711-9018 Email us [email protected] Jay Moody HVAC Contact Gary Goldwasser at [email protected] or call (303) 748-7420 Militello's Italian Bakery Contact Michael Ziff at [email protected] or call (004) 771-286-7215 Reach Michael Shea at [email protected] or call (321) 287-0349.

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