You seem real...I’m gonna binge watch your channel.
@moahmet8104
4 жыл бұрын
I binge watched all their videos, I wish they posted more 😂😂
@abc-ml3gl
4 жыл бұрын
Do itttt 😊
@tanishathegreat2024
3 жыл бұрын
Same
@HondaTrumpAi
2 жыл бұрын
😂😂😂 TRUMP1 fJB
@ScottBuckets
4 жыл бұрын
I recently purchased an existing business with my wife. First time I ever did something like that. Luckily we were smart enough to pretty much nail the entire list you provided, even through COVID season we are doing well and the future is looking bright. Thanks for providing info like this.
@FranchiseCityOnline
4 жыл бұрын
Thanks for watching! And all the best in the new venture.
@blanco4195
3 жыл бұрын
congrats to you and your wife, may i ask what type of business and how is it currently going ? hope all is well
@mick40jb
4 жыл бұрын
If your business shares a parking lot___make sure an easement is in place and who maintains the lot as well.
@FranchiseCityOnline
4 жыл бұрын
Great point.
@sacramentobusinessbrokers
Жыл бұрын
Great tips. To "Customer Base," I would add that if there is one customer that is responsive for a large percentage of the revenue, the buyer could offer to do an earn-out based on the retention of that customer. That shifts some of the risk to the seller, making a deal like this possible.
@LeoLandaverde
3 жыл бұрын
This is good and sound advice. I think most buyers struggle with understanding how to read financials. On top of that, sellers some may mislead buyers intentionally to inflate the price. I've seen it many times. Having someone trained on your due diligence team should be able to stop any variances from tax returns to interim financials.
@EZurg
3 жыл бұрын
I've bought and sold a number service-based businesses without brick-and-mortar locations. They were all businesses similar to the one I owned and operated at that time in my life. I only purchased the equipment assets and customer lists... and then let the other company die off under the watch of its original owner. The paperwork always stated that I was not purchasing the company and was just purchasing the physical assets and customer list of the company and explicitly indicated that I was not buying any liability issues nor any financial responsibility for previous bills all of that stayed with the company. I just bought the company's assets not the company itself. It's worked out every time, however none of these companies had massive liabilities or assets to my knowledge in any event. Hope this helps somebody. Edit: always have them sign a non-compete.
@blanco4195
3 жыл бұрын
This sounds very interesting, thanks for the insight, could you direct me where i can find more resources on this subject, would be grateful. thx
@Victoria-jh9uf
2 жыл бұрын
Thank you so much.
@vijayyadav-sy8od
3 жыл бұрын
I’m very much impressed with your experience and videos, thanks for sharing
@FranchiseCityOnline
3 жыл бұрын
Thank you for watching!
@vijayyadav-sy8od
3 жыл бұрын
@@FranchiseCityOnline now I’m your subscriber and following you, and very much interested to purchase a running business or good franchise in which I can make good ROI Specially in Toronto, if you have any good option please send me the details on my email euphoriasq@gmail.com
@CajunCoyote88
Жыл бұрын
A business owner just offered to pay for our initial down payment to buy their business. But All of the red flags you mentioned are present. They also want to continue owning the building while we rent from them. I think I know the answer, but it's nice to have some confirmation from your video
@FranchiseCityOnline
Жыл бұрын
Thanks for watching! Will they allow you to pay rent month to month or do they want a long lease? Month to month they have more of an interest in keeping your business alive 🙂 Also remember every situation is unique, these are just general points, so be sure to do your due diligence locally.
@varsityathlete3291
4 жыл бұрын
I like the new intro! As usual, great content. As far as I'm aware there's a huge void on youtube for franchising content, kind of surprising given how popular of a business model it is.
@FranchiseCityOnline
4 жыл бұрын
Thank you!
@dantemiyamoto7
3 жыл бұрын
i know, the youtube void for franchising content is terrible and its such a big industry :( This channel seems to be one of the best in this category, I haven't found many others, Acquira has a few videos but they are related to some sort of business buying program they have
@RideAsil
8 ай бұрын
Very nice in details 👍 thank you so much for your video
@FranchiseCityOnline
8 ай бұрын
Thanks for watching!
@JavierBonillaC
3 жыл бұрын
Super clear and interesting; I will subscribe! (That sounded like a Donna Summer old song).
@FranchiseCityOnline
3 жыл бұрын
Lol - song stuck in my head now :-) Thanks for visiting.
@SufyanKhan-zm2uc
3 жыл бұрын
Excellent video. Very informative and eye opener for new buyers.
@rivervisuals444
4 жыл бұрын
Thank you for the video!! Looks great!
@realazduffman
4 жыл бұрын
I used to work for a company that was acquisition happy. We were asked to try to get competitors to let us make an offer. Anyhow, they stressed up and down that you never, ever take their work on "off the books money." If it is not on the tax forms the income does not exist. Since then I have looked at numbers with a couple of people and the seller was playing that game, told them what I had learned. Can you guys look into and do a video on Parlay Cafe?
@FranchiseCityOnline
4 жыл бұрын
Neat concept - unfortunately they are so new we wont have access to any data or financials for a while. My concern would be long-term potential impact on Covid on this type of business. Also proof of concept was in California - which is somewhat of a different environment than most of the USA. So depending on your state it may or may not be as successful. From a very broad perspective coffee shops have a fairly high failure rate - but admittedly this concept does have a unique niche. If you are actively looking for a business feel free to call us we have detailed industry reports that can help analyze multiple industries. Thanks for the comment!
@realazduffman
4 жыл бұрын
@@FranchiseCityOnline Thanks for the reply. Not looking at the moment, I just keep seeing their solicitations. Loved your Barbados video BTW. That is what I am looking at, get some IT training and go digital nomad.
@FranchiseCityOnline
4 жыл бұрын
@@realazduffman Thanks! Great idea - lots of countries opening up now long term, even Panama with just a 5K investment for the friendly nations visa. Cost of living much lower in many countries can live like a king in Philippines, Thailand, Belize etc. Do a KZitem channel as well - tons of people dream about that life :-)
@realazduffman
4 жыл бұрын
@@FranchiseCityOnline Had an employee lived in Philippines in the service. You don't even want to know! Lets say he said if a guy in the military goes there single it was next to impossible not to come back married.
@luluedw
2 жыл бұрын
3 years of financials Unloading business for loss? Verify income
@johnkuchta6866
9 ай бұрын
Great info!!
@FranchiseCityOnline
9 ай бұрын
Thanks for watching!
@joshuapickett8095
4 жыл бұрын
Do you have a podcast??? You are a well of knowledge. Thank you sir!
@FranchiseCityOnline
4 жыл бұрын
Thanks! Sorry no podcast (yet) :-)
@mmembreno3794
4 жыл бұрын
Fantastic information. Thank you!
@joelacenter
3 жыл бұрын
Quality content, thank you for this!
@FranchiseCityOnline
3 жыл бұрын
Thanks for watching!
@wadeemaghi4846
3 жыл бұрын
Very helpful... thank you Rober
@Spyder2002
4 жыл бұрын
Love watching your channel. Very informative. I was considering buying a small business or franchise but will pause on it due to COVID economic impact
@esfandiaragahi2319
4 жыл бұрын
he shares valuable tips for free, but they are information for a broader audience. for your specific case, I suggest you inquire more guidance from @franchisecity
@wizerdjuice9589
3 жыл бұрын
All great points
@RichardsCranium
2 жыл бұрын
Any tips for buying a buisness you used to be employed by? I quit and started my own business but its not doing well after 2 years mainly because of oversaturated market and this buisness I would be buying holds most of the local accounts and is well established.
@FranchiseCityOnline
2 жыл бұрын
Thanks for the question. Depends if you mean trying to get them to sell or you are already in negotiations. If they hold all the business and accounts they may want a huge premium or not want to sell at all. If they are receptive to sell its just a matter of price. As an ex-employee you will have a big advantage during due diligence as you already know how the business works. Apart from general due-diligence and vetting the P&L's not much else to do. Just as an aside depending on what industry you are in you can hire experienced manufacturers reps that have connections in the industry - it might be cheaper to hire a few manufacturers reps and outsourced marketing team than buying the business. Theres a couple of good sites for reps just Google manufacturers reps.
@kylerolle5050
2 жыл бұрын
this is sobering advice
@justinthomas745
4 жыл бұрын
Can u review Capriotti's sandwich please?
@gilberttorres8
2 жыл бұрын
are this point to also be used to negotiate, the price of the business? like if you were negotiating on a house.
@thejokerspeaks
4 жыл бұрын
My brother was recently told by a local El Pollo Loco franchise employee, "Corporate is shutting us down because we've been doing too good of a job. They want to give the other franchise owners a better chance, without us making them look bad." No surprise, my brother received terrible service and food.
@msingh3
2 жыл бұрын
Thanks for this video. can I hire your company to help me buy a business? I am an inexperienced buyer. I've found a business I like but I am not sure if I understand the numbers the seller is presenting to me.
@FranchiseCityOnline
2 жыл бұрын
Thank you! We don't provide business consulting services, an accountant will be your best option for validating financials. If you are open to comparing that business to other opportunities we can show you other options and help you understand the pros/cons. www.franchise.city/our-services
@majestic_seal
Жыл бұрын
buying vs investing in a business?
@BrownieloveMike
3 жыл бұрын
Hi, Thank you for this interesting insight. How would you approach the purchasing of a property portfolio held under a company name as its main business. For example a rental portfolio held by a Property Investor under a registered company. So the company owns all the properties as its assets.
@FranchiseCityOnline
3 жыл бұрын
Impossible to say without knowing all the details and you should definitely speak with an expert versed in that industry in the specific state. Most RE investors hold property in a holdco or LLC for a number of reasons and ownership transfer is typically easier with an LLC deal than registering individually. But there's many more considerations than just that. Spend the money on an expert, including a tax specialist, let them know your exact situation, it can save a lot of headaches! Thanks for the question.
@kurosakimika6079
3 жыл бұрын
Came across this channel. I see no bullshit
@gregorypaik8212
3 жыл бұрын
The people who dislike this must be this man’s ex girlfriend… legendary
@michaelvan6675
3 жыл бұрын
?
@NikeMikey101
4 жыл бұрын
I'll just have to pay you to find a business for me then 😂
@FranchiseCityOnline
4 жыл бұрын
Why would you pay when the service is free?
@NikeMikey101
4 жыл бұрын
@@FranchiseCityOnline Sell me one of your cash cows 😁
@youngatnaruto
3 жыл бұрын
@@NikeMikey101 I know there are Business Brokers
@starwreck
4 жыл бұрын
time to blow up the Madellian channel!
@Topgear.filmer
3 жыл бұрын
Are Gas station really profitable
@FranchiseCityOnline
3 жыл бұрын
Some still are, many are not kzitem.info/news/bejne/pnmYnnmBcIqolmU
@GhostruckerX
3 жыл бұрын
I'm in the trucking industry and hungry and motivated to invest buy out other business.
@yoboicliff3030
4 жыл бұрын
first
@dekirujp8922
4 жыл бұрын
Bottom line dont buy business , if they were profitable they wouldnt be on sale .
@YTStopCensoringFreedomOfspeech
4 жыл бұрын
Bottom line is, if its in a good location or has the right assets but has a moronic management with a max IQ of 80. It's a good purchase if you know what you are doing.
@RolandDeAragon
3 жыл бұрын
Here's a little secret, which is really not a secret but most don't know about it. Buying businesses is what the ultra Rich do. You think Bill Gates, Warren buffett, Mark Zuckerberg, the Google guys became the richest on the planet because they started a business or bought a franchise? Nope. They bought other businesses, that's how they got super rich. You're welcome.
@CoralMan24
3 жыл бұрын
thank you for the video if i may ask you I own a pond construction business and was offered to buy an existing company the owner is about to retire I have already worked a few jobs with him. What Items would you say I should get from him to know what the company is worth and what to offer other then somethings you have touched in this video? Kind Regards, Coralman24
@FranchiseCityOnline
3 жыл бұрын
Thanks for the question. Difficult to say without knowing more - whether it is an asset sale or share sale etc. There are due diligence checklists available online, you can also hire a third party to dig deeper if you are not confident. Duie diligence lists are helpful, but don't really cover the nuances of the specific business. Here is a manageable list that has most of the priority items:www.findlaw.com/smallbusiness/starting-a-business/buying-a-business-due-diligence-checklist.html
@CoralMan24
3 жыл бұрын
@@FranchiseCityOnline he is retiring and getting rid of the customer accounts and inventory I will be merging his customers and the work to my existing company I guess it would be an asset of his yearly customers that he does monthly work for and inventory but wasn't sure where to start you greatly helped and that link above really does too. Thank you kindly anymore advice you would give me or things to ask that may not be said to check on enough?
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