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 […]
The Hot Dog Article
If you are old enough, you may recall that in the late 1970’s we had high inflation rates, high gas prices, and high unemployment. The government was saying that our standard of living was on the decline. Interest rates for a loan went to a high of 21%. I remember once getting a loan for […]
Like Death & Taxes, Change is Inevitable
Whenever you are involved in something that involves changes, you are dealing with the unknown, and the unknown frightens people. […]
Why Some Convenience Store Operators Won’t Sell
After many years of working with hundreds of competent convenience store operators, I finally figured out why many of them will never sell. […]
How to Buy a Business When a Bank Loan is Hard to Get
If you have been following any of my recent blogs you would have read that I have touting from the top of my lungs that now is the time to be buying a business. And in case you haven’t been following my blogs I will restate why I think now is a great time to […]
The Buy-Sell Agreement
Recently I had the wonderful opportunity to speak at the National Association of Convenience Stores annual convention in Atlanta, Georgia. The subject matter that the association had asked me to speak about was whether a convenience store owner should be getting out of the business or growing their business: “Go or Grow”. In part of […]
To Go or Grow: Video NACS 2010
The following video was part of a presentation I gave at the 2010 NACS show in Atlanta, GA this October. The topic was: “To Go or Grow? How to Know When it’s Time to Buy or Sell”. I was fortunate to share the stage with two great operators and industry veterans, Chip Lavigne and Rahim […]
To Go or Grow Your Business
Today is the best time ever for someone in the convenience store business if they are thinking about getting out of the business or growing their business. Yes, it is the best for either one of the two. Why in the world with the economy the way it is would anyone make such a statement? […]
Do You Have an Exit Strategy?
Someday your business will be for sale, so step back and look at your operation through a buyer’s eyes. […]