Posts Tagged ‘business’
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 »
November 14, 2011
Sometimes we all trip up and pull a Rick Perry. Regardless of the fact that it was just a slip up, we should never forget that perception is everything. That is true especially in our business where our primary contact is with the public. There are many ways that our customers and clients can become offended by what we say, wear, write, and display. Here are some examples of behaviors that you should avoid if you want your customers and clients to take you seriously.
I am going to start with something I did to offend. Several years ago I had a bumper sticker that said “God BlessAmerica”. Innocuous right? Wrong, I actually had another driver pull up beside me and Say “What do you mean? Why don’t you have a sticker that says God BlessFrance?” I swear that is exactly what he said and he shouted it at me. I no longer have any bumper stickers on my car AND neither should you. It’s not professional.
(more…)
Tags:atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, business voicemail, dana eskridge, Facebook, georgia, Metro Brokers, professional, Real Estate, real estate agent, real estate career, Realtor, success, Tips
Posted in Agents | 6 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 23, 2011
I just found the perfect gift for everyone on my holiday gift list! Yes, I know it’s only May but when an epiphany like this strikes, I pay attention.
The perfect gift is a special fabric pouch which blocks all incoming calls to a cell phone. The nami fabric made bags can block cell phones from receiving calls. Your numbers appear as “unavailable” or “busy network” to the person calling you. The bag also can be used as a pocket for money or cards. It works with all networks and is easy to use, just put your phone into the bag and all calls will not get through. I’ve even seen a version to be used on a date or social occasion embroidered with, “I’ve blocked my phone for you.” How romantic.
How practical in business situations, too. Have you seen the commercials on TV when an interviewee’s phone goes off at the wrong time and the (foolish) interviewee ANSWERS it? And holds her finger up to the prospective employer in a gesture telling him to “hold on”?
Here are several other cell phone turn-offs I’ve encountered: (more…)
Tags:ann bone, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, business, cell phone, cell phone jammer, cell phone manners, courtesy, Metro Brokers, nami fabric, Real Estate, real estate agent, Realtor, Tips
Posted in Agents, Buyers, Sellers | 10 Comments »
January 24, 2011
Congratulations. You got a real estate license some time ago and became the CEO of your own “small business”. How’s business been lately? Bad? Worse than bad? Did you make enough money in 2010? Have you taken a “real job” to make ends meet?
What’s your plan to succeed in 2011?
The CEO of any business is in charge of hiring the right people to perform the services necessary to generate income. As the CEO of your own business, you “hired” yourself, didn’t you? Have you as CEO analyzed yourself as the sole provider of income to the company? Would you hire yourself again? (more…)
Tags:2011, ann bone, atlanta, atlanta real estate, average sales price, Better Homes and Gardens Real Estate Metro Brokers, business, business planning, CEO, closings, commission, georgia, Metro Brokers, prospecting, Real Estate, real estate agent, real estate career, Realtor, small business, success, Tips
Posted in Agents, Uncategorized | 8 Comments »
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 »
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 »
August 16, 2010
If you listened to the last broadcast of The Real Estate Insider on BlogTalkRadio, we began a discussion on “self motivation”.
How do you push your own buttons? What do you do to motivate yourself?
So in the fashion of David Letterman’s Top 10… we’ll start with number #5 first.
5. “Change who you are first”. Have you ever caught yourself looking to change those around you… it never works (I thought I was going to change the world – not going to work).
4. “Crisis inspires our best efforts”. I’m sure you’ve watched 24 (starring Jack Bauer). I was watching an episode and heard a line in the show that summarizes this point… “Stress is the fertilizer for creativity”. (more…)
Tags:24, Aristotle, atlanta, atlanta real estate, Better Homes and Gardens Real Estate Metro Brokers, Blog Talk Radio, BlogTalkRadio, business, Buyers, coaching, Jack Bauer, Metro Brokers, Michael McFadden, motivation, quotes, RE Insider, Real Estate, real estate agent, Real Estate Insider, self motivation, success, Tips
Posted in Agents, Buyers, Sellers, Uncategorized | 6 Comments »
July 2, 2010
Many people know that I host a show on BlogTalkRadio for The Real Estate Insider. On a recent show, we spoke about 5 simple steps that you can implement into your business, to make it simple and a bit more fun.
- Exposure – Remember the saying “the right place at the right time”, today it needs to be “being in enough places, more than enough times”. that’s what it that’s today. Social media is taking over the world, which allows us to be in enough places. Facebook, Twitter, LinkedIn, blogs (like the one your reading now) allows you to be in those places. Take advantage and get your EXPOSURE on!
- Staging – Know the difference between “selling condition” and “living condition”. We all know that when a home is priced correctly, many people will “look” at the home. And when a home is in “living condition”, the offers will come in. Most buyers want to see themselves moving in the home asap, but if they can’t envision it, they’ll keep looking until they find a home in “living condition”. (more…)
Tags:atlanta, atlanta real estate, Blog Talk Radio, business, georgia, Metro Brokers, Michael McFadden, RE Insider, Real Estate, real estate agent, real estate career, Real Estate Insider, Social Networking
Posted in Agents, Uncategorized | 17 Comments »
April 26, 2010
“The only way that I’ll become wealthy… is by making others rich.”
That’s my Credo, my statement of belief. Your credo (which is Latin for “I Believe”) defines how you act and react every day. I’ve been living my credo for the past three years.
In business, the credo is better known as the Mission Statement. In fact, this is one of the most important factors in the success of any company, especially a new company.
It starts with what you believe your company can do better than the competition. Many entrepreneurs skip this step, mistakenly thinking the “credo” is so self-evident (TRUISM) that it is not needed. Wrong. The belief system is vital to the success of everything that follows.
(more…)
Tags:business, credo, Michael McFadden, mission statement, Real Estate, truism
Posted in Agents, Buyers | 5 Comments »
August 28, 2009
Where are honesty and integrity in today’s real estate business?
Time magazine recently wrote about a real estate agent in Las Vegas assisting homeowners in buying new homes just like their old homes, but at half the price, knowing and planning to default on their old homes once the new home is purchased. Some of them even go back to the same lender, knowing they will stab that lender in the back as soon as the ink dries on the new loan.
(more…)
Tags:ann bone, atlanta real estate, business, default, ethics, honesty, integrity, Metro Brokers, morals, mortgage delinquency, Real Estate, Realtor, Time
Posted in Agents, Buyers, Sellers | 14 Comments »
June 4, 2009
I’m often asked about the best type of business to list or purchase. I’ve met a significant number of business owners over the years and learned that it isn’t for everyone. As an owner, you’re the first one in, the last one out and definitely the last to be paid. But on the other hand, the rewards of business ownership can be great. If you’ve decided that owning and operating a business is what you want to do, then what should you be looking for in a business?
(more…)
Tags:business, business brokerage, Dan Hinson, how to purchase a business, Metro Brokers, Real Estate
Posted in Agents, Buyers | 3 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…)
