Author Archive
January 30, 2012
Continued from “Buying a Small Business in 2012, Part One”.
You’ve now identified a business opportunity and completed a tour of the business facility. The seller’s answered your initial questions and provided you with business financial information. Once you review the income statements, balance sheets and tax returns, you can decide if you want to make an offer. There are two ways to communicate the offer to purchase the business. You could choose to utilize a contract or binding agreement or you could utilize a Letter of Intent or non-binding agreement. A contract must be written by an attorney and immediately binds you and the seller, and will require submission of earnest money. You’ll include certain contingencies in the contract that must be satisfied and the contract’s highly definitive. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, success, Tips
Posted in Agents, Buyers | 3 Comments »
January 17, 2012
You may be wondering if 2012 will be a good year to purchase a small business. Can small businesses generate profit in a difficult economy? These are fair concerns and certainly require the small business buyer to move forward with adequate caution. If you’re determined to own a business, you can find what you’re looking for by establishing specific search parameters and purchase criteria.
1. Research Well Performing Businesses
First, complete the necessary research to identify a short list of business types that perform well in a weak economy. Determine if franchise opportunities provide a greater chance of success. Franchises historically have a higher start-up success rate and give you a proven business system, training and name recognition. You’ll have to decide if you want to start a business from the ground up or purchase an established business. The established business will cost more however, you get to avoid the painful start-up period and you can see current and past performance. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, business buyer, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, small business, success, Tips
Posted in Agents, Buyers | 3 Comments »
July 11, 2011
Buying a business can seem like a daunting task. I always recommend a professional business broker, since they can help you find exactly what you’re looking for. Here are some checklist items that will be necessary to get the job done:
Get the necessary financial information
Sellers must be able to provide books and records for their business. This includes business income statements, balance sheets and tax returns. All income and expenses must be traceable to original invoices. A lack of books and records makes considering the purchase of a business impossible.
Determine the value of the business
There are numerous ways to calculate business value. One method involves rules-of-thumb specifically related to the business industry. Publications are available for this information as well as online resources. You can also ask your business broker to perform a competitive market analysis. This process requires a professional that has access to nationwide sold data. A competitive market analysis provides significantly greater detail and support of value. (more…)
Tags:atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, business valuation, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, success, Tips
Posted in Agents, Buyers | Comments Off
May 16, 2011
When searching for a location for your business, one of the most viable options is a commercial lease. Rather than having to pay financing on a purchased property, a lease allows you access to a space, so that you can immediately begin doing business. The type of lease you choose could greatly affect your business in the future, though.
There are several different types of commercial real estate leases available: Net lease, modified net lease, and gross lease otherwise known as a full service lease. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Coldwell Banker Commercial Metro Brokers, commercial lease, Commercial Real Estate, commercial real estate agent, Dan Hinson, full service lease, georgia, gross lease, Metro Brokers, modified net lease, net lease, Real Estate, real estate agent, Tips
Posted in Agents, Buyers, Sellers | Comments Off
January 19, 2011
Many of our business brokerage specialists are asked about franchises. Should you purchase one and what are the upsides to this type of acquisition? It’s become a popular option among business buyers, but should you take the leap?
Franchises are significantly different than independent businesses and offer several distinct advantages.
The first advantage involves a structured system of doing business. Whether or not an individual has specific experience in the particular industry, he or she can utilize the business system and succeed. Franchisors provide detailed training that fully explains the business system and how to use it. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business brokerage, Commercial Real Estate, Dan Hinson, franchise, georgia, Metro Brokers, Real Estate, real estate agent
Posted in Agents, Buyers | 1 Comment »
December 27, 2010
When you rent office space, there are many things to consider and several key questions to ask before you sign the commercial lease. Each lease agreement is different and you’ll want your commercial Realtor to help you negotiate lease terms that could protect you in the future.
How long do I plan to be in the space?
Estimate how long your business can operate effectively in the space you want to lease. Do you need a short-term or long-term lease? Do you want specific renewal option periods? (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Coldwell Banker Commercial Metro Brokers, commercial lease, commercial listings, commercial property, Commercial Real Estate, Dan Hinson, georgia, landlord, Metro Brokers, Metro Brokers Financial, Real Estate, real estate agent, Realtor, retail locations, retail space, sublease
Posted in Agents, Buyers, Uncategorized | 2 Comments »
November 29, 2010
Purchasing an existing business usually costs more, but can greatly reduce the odds of failing. If you decide to search for an existing business, you’ll need to prepare for careful analysis. Your decision making process needs to be highly analytical and free of emotions. When properly completed, a business analysis will reveal the truth and make the decision to purchase or walk away clear and straightforward.
You may want to seek the assistance of a qualified Business Broker to assist with the business search and purchase, or you can elect to complete the process on your own. Regardless of how you proceed, it is imperative that you demand sufficient information from the Seller and obtain sound legal and accounting advice prior to making a final purchasing decision.
You want to fully understand what the Seller does each day and be certain that you can achieve the same results. Question whether or not the customer base is tied directly to the Seller and the impact the sale will have on the customers. Refuse to accept information that is not validated by business tax returns. Sellers can manipulate income statements, but not tax returns. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business broker, business brokerage, Buyers, Commercial Real Estate, Dan Hinson, franchise, franchisee, georgia, Metro Brokers, profitability, Real Estate, real estate agent, Realtor, success
Posted in Agents, Buyers | 1 Comment »
November 22, 2010
Owning and operating a business is a great way to take control of your future. Once you have decided to be your own boss, you have to consider whether you want to buy a business that is up and running (a growing concern) or start a business from the ground up (a start-up). Each of the options has advantages and disadvantages. You will also want to consider whether or not you want to own an independent or franchise business.
If you want to build a business from the ground up – otherwise known as a start-up – you’ll need a comprehensive business plan. Your business plan will need to include the means by which you will get customers (a marketing strategy) and how the business will operate on a day-to-day basis. It will estimate the expenses required to build out space and install required furniture, fixtures and equipment. You’ll also want to include sales projections (a Performa) and expenses required to support sales. Here are some other things to include in your business plan: (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business brokerage, Buyers, Coldwell Banker Commercial Metro Brokers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, Realtor, starting a business
Posted in Agents, Buyers | 3 Comments »
October 25, 2010
Now is a great time to expand your business due to low prices and high inventory, but there are many factors that must be carefully considered prior to selecting a new retail location.
First, the amount of space that will be required and the build-out necessary to do business must be determined. The immediate need for space may change significantly in the first five years and could make business growth difficult.
Next, consideration must be given to neighboring businesses, so that customers for one are candidates for the other. For instance, you wouldn’t want to put your new restaurant right next to a mechanic. (more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Buyers, Commercial Real Estate, Dan Hinson, georgia, Metro Brokers, Real Estate, real estate agent, retail locations
Posted in Agents, Buyers | 6 Comments »
September 4, 2009
How many books have been written about time management? You’d think that by now just about everything that could be said, has been said, however, it continues to be a relevant topic.
At first glance, you might be inclined to ask: “how hard can this be”. All you have to do is buy some sort of organizer or today you can use your cell phone to manage your time. Just plan ahead and follow the plan. It really does seem simple enough. So, why do we struggle with the management and best use of our time? There are many reasons why time ends up controlling us.
(more…)
Tags:business planning, Dan Hinson, Metro Brokers, productivity, time management
Posted in Agents, Buyers, Sellers | 7 Comments »
August 24, 2009
I speak to real estate agents every day about listing and selling Main Street businesses. By Main Street I mean businesses that sell for less than $1 million. Initial challenges can be found in reaching out to enough business owners each day to generate a sufficient number of listing appointments. Then, you soon discover that scheduling a listing appointment certainly does not assure you of obtaining a good listing. There are three listing obstacles in particular that can be significant and simply block the opportunity to secure a listing.
(more…)
Tags:atlanta real estate, business brokerage, business owners, Dan Hinson, listing a business, securing a listing, value of a business
Posted in Agents, Sellers | 3 Comments »
August 12, 2009
Working in commercial real estate requires me to search for information each and every day. One of the best ways to keep up with market performance, trends and industry news is by way of blogs. There are many to choose from and vast amounts of information to be utilized. Here is a short list of some of the best blogs I read to be well informed (aside from Metro Brokers Blog…of course).
Let me know what you think of my recommendations. Also, be sure to share which blogs you read and why you like them in the comment section.
(more…)
Tags:atlanta real estate, blogs, commercial real estate blogs, Dan Hinson, deal book, deal junkie, industry news, llenrock, market trends, Metro Brokers, real property alpha, retail traffic, square feet, the ground floor
Posted in Agents, Buyers, Sellers | Comments Off
July 8, 2009
Have you heard the latest?
There’s a new kid on the block. Commercial brokerage has a new listing website that was introduced in May at the International Council of Shopping Centers (ICSC) conference. The website is called RealUp (realup.com) and offers a new and innovative approach to commercial listings management. The website provides a variety of services including comparables, research and financial data.
You can join RealUp, which is based out of Raleigh, North Carolina, for free and access comparable data and listings at no charge. You’re charged based on a per click system and guaranteed that no views results in no charges. The website is currently in the Beta phase with about 10,000 listings so far.
(more…)
Tags:BizBuySell, BizStats, business brokerage, commercial brokerage, commercial listings, CoStar, Dan Hinson, GABB, LoopNet, Metro Brokers, Real Estate, RealUp, reports, resources
Posted in Agents | 6 Comments »
July 1, 2009
Whether you specialize in commercial or residential real estate you face significant challenges and obstacles every day. How can you meet the challenges head-on and overcome the obstacles to get what you want?
First of all, let’s agree that it isn’t easy. Don’t make the mistake of underestimating the difficulty of time management, prospecting and follow-up. However, it can be done. You can take control of your real estate career and achieve the very goals that brought you to real estate. The formula for success can be divided into three basic parts.
(more…)
Tags:business plan, Dan Hinson, formula for success, goals, Metro Brokers, Real Estate, real estate career
Posted in Agents | 6 Comments »
You’ve now identified a business opportunity and completed a tour of the business facility. The seller’s answered your initial questions and provided you with business financial information. Once you review the income statements, balance sheets and tax returns, you can decide if you want to make an offer. There are two ways to communicate the offer to purchase the business. You could choose to utilize a contract or binding agreement or you could utilize a Letter of Intent or non-binding agreement. A contract must be written by an attorney and immediately binds you and the seller, and will require submission of earnest money. You’ll include certain contingencies in the contract that must be satisfied and the contract’s highly definitive. (more…)
You’ve probably heard that millionaires are often made in difficult economic times and it’s certainly true that commercial real estate can help you build wealth. What you need is some basic information that will provide the necessary analytical approach to purchasing property. Here are some things you’ll need to know.
