The price we discussed already includes all equipment and inventory will change as of the day of closing because the business is still operating.
Bruce, that's a great suggestion for business brokers, thank you. It's not a franchise. I'll explore the business brokers route.
I have seen in the MLS some listings that are only selling the business and I just didn't know where to start on paperwork, such as a basic listing agreement etc...
Good luck! Don't be concerned about repayment, just feel comfortable to send my FORT WORTH WEST referrals!
I've been in the commercial real estate for over 22 years
Sold, leased, developed and managed commercial real estate and brokered many businesses under five million in revenue. Assist buyer in financing and managed the truncations throughout the closings.
I Sold numerous small businesses throughout Dallas Fort Worth and orchestrated a great number small company acquisition. Specializing service companies with annual revenue ranging from a (loss) in income to 3,000,000 per year.
Achieving an average of 23 transactions per year since 1987
I have a friend who's a business broker and she's AWESOME at what she does. Her name is Trista Perot and she's also a sorority sister. Let her know I referred you:
Trista C. Perot, C.B.I., B.C.B.
Certified Business Intermediary (CBI)
Board Certified Broker (BCB)
Member: International Business Brokers Association (IBBA) http://www.ibba.org
Member: Texas Association of Business Brokers (TABB) http://www.tabb.org
TPG Business Services
15851 N. Dallas Parkway, Suite 500
Addison, TX 75001
There are so many things to think about. Does he just want to leave straight out? Will he be willing to stay on as a consultant for a while? Besides the tangibles, what is the value of the intangibles such as "goodwill" he's achieved in the community? Is he a candidate for a bigger company acquisition? (like Pep Boys or the like) Trista also does M&A, btw.
Is this his only business? Or does he have others? I also have a good friend who helps high net worth individuals merge all their businesses together when they need an exit strategy or for their heirs, etc. He explains it way better than I do, obviously. I can refer you to him, too, if you'd like.
Best to you,