Perhaps you have started to suspect you may need to sell your business rather than hand it down to your children. Here are a few indicators as to why you may want to consider selling the family business: 1. Your children are not interested in the business. If you run a profitable small business that […]
Category: Blog
Top 10 Reasons Why Selling Your Own Business is a Bad Idea
Selling your own Business is a Bad Idea Over the years I’ve learned many things. One of which is, it’s never a good idea to try and broker your own transactions. This is true for houses, cars, boats, and yes, businesses. The following is a list of the top 10 reasons why selling your own […]
Buying Or Selling A Business? Why The Pandemic May Be The Right Time
In life we tend to view things with an emotional outlook rather than from a logical perspective. Of course, this is not what we tell ourselves. But in reality, all we are doing is trying to justify our emotional decisions. Which brings me to the question: Is now a good time to be doing business […]
3 Key Steps to Selling a Business in Good Times or Bad
The COVID-19 pandemic is putting people out of work, slowing down lots of industries, and causing businesses to close. But at the same time, an uncertain chapter in America’s economic history may provide opportunities for individuals looking for a fresh start – or a soft landing. Nearly half of small business owners in the U.S. are 65 and […]
The Day After You Sell Your Business
A few months ago, I met with a gentleman who wanted to know what his business was worth. He had been in business for quite a while and had achieved considerable success. He knew the marketplace was paying top dollar for businesses like his, and that there would not be a better time to sell […]
Life is Always About Timing
Recently I was asked to give a presentation to a group of convenience store owners at a one of the State association conventions and the topic of the presentation was to share with the audience the state of the convenience store industry regarding the continuing consolidation that is occurring. The theme of my presentation was […]
Unethical Negotiating Tactics
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 […]
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 […]