WHO IS WORKING FOR WHO?
A North Carolina Business Broker works for the Seller. A South Carolina Business Broker does not work for the Buyer either. Likewise, A Virginia Buyer is misled if he or she thinks a VA Business Broker works on your behalf.
He does not work for you in NC, SC or VA. His fiduciary responsibility is to the Business Owner and he works on a success commission. The bigger the success, the Bigger the commission. This is why it is essential to have a Buyer Side Business Acquisition Consultant to represent your best interests as you purchase a business.
WHAT IS THE BIGGEST CAUSE OF FAILURE?
The biggest cause for failure, in hindsight, is often attributed to the first 90-120 days of transition. So much attention was placed on negotiation and price and terms and due diligence – and then, after the Closing, the New Owner fails to vigorously engage the previous owner and in such a way that, well, let’s just say that previous momentum crashes.
Your first year” It goes from, the Seller’s best year just before the closed sale to (maybe) the worst year in the last three calendar years.
TIGHT CASH FLOW
Cash flow tightens, sometimes forcing bad decisions. Such as letting employees go, cutting back advertising, not paying vendors on time, just to name a few.
This is something that need not happen.
WHAT WENT WRONG?
- The Selling Business Broker disappears; he was paid at closing. He wasthe biggest promoter and enthusiast and he is never heard from again.
- The Seller? He is exhausted from the process: he has his money; and can finally take his foot off the gas pedal. In other words, the momentum is lacking.
- And a New Owner is overwhelmed with the new learning process. Often, he misses what seems obscure, but is really an essential cog in the wheel of transition success.
AND THE SOLITION, LOU?
That is where I come in, the Buyers Side Representative – you do have one don’t you? Because your definitely should! He is your Consultant and if he has the skills, he should be considered for an extended ‘Overtime’ period. He can catch the obscure areas, he can see the bigger picture, and he provide guidance worth its weight in gold.
You can only be in one place at a time. He can be in a dozen that you are too otherwise occupied to notice or deal with. And those differences can mean equaling or exceeding last year’s cash flow, or a catastrophic down turn.
WHO CAN FILL THAT GAP?
Pro Biz Consulting can fill that gap. Not to become a new, expensive and permanent employee. Simply a one-time first year expense, to be programmed into your purchase price.
And he is an Independent Contractor; it’s exactly what you need, when you need it!
How costly not to, might be a better question.
As compared to a 10% drop in that first-year cash flow? (Yikes! Yes, that happens sometimes and maybe it’s even worse: I’ve seen a 40-50% drop before recovery in year two.)
In this perspective, the cost maybe only 2/10ths of 1%. We are good at this. With a track record of success and hands on experience ProBiz listed and sold over 100 businesses in the Raleigh NC area to Virginia Beach, VA to Myrtle Beach, SC and assisted 2,500 buyers in their search for their next opportunity. Having experience representing both buyers and sellers, ProBiz focuses our efforts where it is needed most – on the Buyers.
ProBiz has worked with thousands of buyers who want to buy a business. Not just to navigate the basic difficulties of the process, but after the sale too.
Doesn’t that make sense?