Let me teach you the unethical gambits that people can use to get you to sweeten the deal. Unless you’re so familiar with them that you spot them right away, you’ll find that you will make unnecessary concessions just to get the other side to agree with your proposal. Cherry Picking Cherry Picking is a […]
Dumb Things You Do As You Get Older
They say as you get older you are supposed to get wiser and I believe in a lot of ways this is true. More than once I have said the only positive attribute I have discovered about getting older is that now I know that I don’t know very much, which is trait of acquiring […]
Looking Into the C-Store Crystal Ball
(This article first appeared in the March 9 electronic edition of Convenience Store News Daily. Click here for the PDF version as it appeared in the e-zine.) NATIONAL REPORT — Trying to predict the next seller or new buyer who’s about to enter the convenience store merger and acquisition (M&A) market can be a little […]
C-Store M&A Market is Changing
(This article first appeared in the March 9 electronic edition of Convenience Store News. Click here for the PDF version as it appeared in the e-zine.) NATIONAL REPORT — In 2014, it was GPM Investments LLC and its 120-percent store count increase, mostly driven by its acquisition of VPS Convenience Store Group’s Southeast division. In […]
Why I Like the Convenience Store Business
(This article first appeared in the February, 2017 print edition of Professional Carwashing & Detailing. Click here for the PDF version as it appeared in the magazine.) I must be the one of the luckiest people in the world. The reason I say this is because I am able to work in an industry that […]
Hillary Clinton proposes top rate of 65% on estate tax
I am not trying to be political, however listed below is a link to story about Hillary Clinton promising to raise the inheritance tax and adding more taxes and regulations to small business owners if she is elected. The story ran in Friday September 23, 2016 edition of the Wall Street Journal. She is also […]
A Rule to Operate By
(This article first appeared in the September 2016 print edition of Convenience Store Decisions. Click here for the PDF version as it appeared in the magazine.) If you have heard me speak at a NACS (National Association of Convenience Stores) event or a state association convention, I sometimes refer to the ‘1/3, 1/3, 1/3 Rule,’ […]
Is there Power in Brands? What is Your USP
(This article first appeared in the July 2016 print edition of Professional Carwash & Detailing. Click here for the PDF version as it appeared in the magazine.) In my line of business, I travel a lot therefore I constantly find myself in areas that I am not familiar with. For a lot of people this […]
The Biggest Lie Operators Tell Themselves
If you have ever heard me speak at NACS or one of the State Association Conventions I have spoken at, you will hear me talk about the 1/3, 1/3, 1/3 rule I learned many years ago when I was operating my stores. Since discovering this rule I have seen it multiple times in my own […]
When is the Best Time to Sell Your Business?
By: Tim McDaniel, CPA/ABV, ASA, CBA Principal, Director of Business Valuation Service, Rea & Associates Factors to Consider in Timing a Business Sale Timing is the single most important factor in selling a business. To understand why, you must first understand what usually drives the ultimate price paid for a business. The best time for […]