I can best be described as a Professional Intermediary, with achievement degrees in Entrepreneurship, Education, Law, Accounting, Finance, Operations, Management and Psychology.
I work primarily with privately owned businesses in helping them to decide if the time is right to sell their business and if so help them to prepare their business for sale. It can be similar to the analogy of a wedding. Where I am the guy who gets the bride ready for the wedding.
To best explain what my role is in the process of preparing one’s business for sale it may be easier to describe what I am not:
I am not a financial planner, although I completely understand the process of how it works and what the end results are to be and have worked with hundreds of clients in helping them find the correct direction that works best for them financially.
I am not a real estate broker who goes to a location and does a lot of measurements and kicks the bricks and checks the data on the location of the property although I have sold hundreds of properties.
I am not an accountant, although I have extensive knowledge in regards to the tax ramifications of the sale of a business from an individual or a family to an outside party and work to ensure that the majority of the sale proceeds are kept with the seller, rather than to the government in the form of taxes.
I am not a business broker who works with main street businesses in the selling of delis, retail stores or dry cleaners. I have sold many of those kinds of businesses, but my expertise is working with larger family owned businesses or businesses with multiple locations covering a large geographic area having owned business myself throughout the US and Canada.
I am not a psychiatrist, although I understand and have extensive knowledge of the human behavior of an individual and how they will react while going through the process of selling a lifelong business, can relate to my clients having went through the process myself many times and understand sometimes as if were the selling of one’s child.
I am not a family counselor, although I have witnessed and shared many experiences of my clients who have encountered “significant life impacting events” in their life such as divorce, death, disease, partnership dissolution, financial situations or medical issues while in the process of selling their business.
I am not a consultant who elects to direct and coach individuals from the sidelines and assume the role of a spectator, but instead I have a definite process that I implement that involves all parties to ensure the ultimate goal is accomplished.
I am not an appraiser who goes to individual building locations and counts the number of square feet in a parcel and runs cost, replacement and comparable analysis of the unit using charts and graphs and gives a client a hypothetical number that the unit will sell for, instead I work with my clients to help create an accurate market valuation of a their business so they know what their business is worth in order for them to make good decisions.
I am not a finance guy who prepares lots of proformas on excel sheets and continually adjusts the data to match the proposed outcome of an individual’s desire, although I have the knowledge and background in the preparation and reading of the proformas and have been involved in the preparation of them in my own private placement ventures and the implementation of them during the taking of my company public with an IPO.
I am not an environmental engineer, although I understand the process and particulars that are involved in the Phase 1, Phase 2 and remediation process of a property in the capacity of an owner of such properties and as an intermediary.
I am not a banker, although I know and understand loan documents, loan covenants, LTV ratios, tiered liens, subordination agreements, environmental indemnification, cross collateral, subordination and a host of other terms and documents that are encountered in the process.
I am not a lawyer, although I have an earned law degree in the process of selling a business and the use of the multitude of documents, i.e. bill of sale, UCC, C-Corp, S-Corp, LLC, setoffs, holdbacks, indemnification, reps and warranties, Letters of Intent, Purchase and Sale, stock sales, asset sales both as an owner and as an intermediary in the sale of the 500 plus business sales I have been involved over my career.
I am not a manager who gets paid to keep the employees in line to do their daily obligations of the business, sometimes babysitting with hopes of increasing productivity and maintaining sales, although I managed in excess of 1,000 employees in 27 states and Canada.
I am not a marketing and advertising person, although I have been involved in the marketing and advertising of 10 National Companies in the U.S. with the implementation and follow-up of both local and national marketing campaigns with tracking of all media outlets including television, radio, print and direct mail.
I am not a food service expert, although I have personally owned and operated 34 restaurants and can distinguish the difference between, food cost, paper cost, labor cost and what it takes to make a profit in the food service business.
I am not franchise representative or franchise developer, although I have owned ten different national franchises and owned my own franchise company as a franchisor and learned to write and understand the documents involved in the sale and transfer of a franchise.
I am not a professional merchandiser, although I have implemented many plan-o-grams, drawn floor plans and determined store traffic flow patterns for national companies like Wal-Mart & Disney.
I am not a real estate developer, although I have built strip malls, restaurants, office buildings, and commercial buildings from the ground up working with government officials and architects and been involved in the site selection of real estate for companies such as Arby’s, Dairy Queen, Hardees and Walgreens.
I am not a human resources manager, although I have been though the process of interviewing, hiring and firing of employees and a multitude of both State and Federal labor situations regarding employees.
I am not a tax accountant, although I have firsthand knowledge of audited financial statements, sales tax audits, and State and Federal tax audits. Both as an intermediary and as an owner to prepare a business for a public offering.
I am not an investment banker, although I generally work with business owners who have an EBITDA of $2,000,000.00 to $16,000,000 and want an individual who understands the process from the beginning stages through the due diligence to the ultimate close of the transaction.
I am not a one business fits all type of person. I understand that every business has its own personality and is a separate profit center and has to be dealt with accordingly.
So Who Am I?
Some would say that I am an anomaly, because I don’t know of any other intermediary who has owned and operated 40 different businesses as I have and sold over 800 businesses. By being involved with so many different businesses and working with a thousand plus buyers and hundreds of business owner selling so many businesses I am one who has walked in the same shoes as the business owners whom I have worked with and have learned to respect for what they have accomplished and eventually become lifelong friends with due to our similar backgrounds and experiences.
I am one who is very focused on getting results and creating value for the people I work with and one who knows that their time is precious and finite on this wonderful world we live in. One who has experienced both medical and self-inflicted life-threatening situations on myself and has learned the difference between what is really life threatening and what is really a business decision. One who has the unique opportunity to see things from the outside looking in and with fresh eyes.
Yes, you could call me an anomaly since I know something about a lot of different things in regards to the inner workings of a business operation and have the desire to help others in the accomplishing of their goals when it involves the process of moving to the next level and the selling of a lifestyle, identification and their business.
It is my passion and my goal to help as many business owners as I can to ensure they don’t have to experience some of the same grief and mistakes I have over the years or what I have seen other business owners do. What I share with business owners and my clients are many years of my “expensive experiences” from actually living through the same situations they are going through and will experience during the journey of deciding what to do when it comes to selling their business.