Entries by Willard Michlin

Do It Yourself Business Due Diligence

Okay, you’ve made the decision to buy a business. Okay, you’ve made the decision to buy a business. You have a lender lined up; an attorney is on the ready line and your CPA is standing by; now you just have to complete the due diligence work. It would be convenient to have either your […]

How to Appraise an Auto Body Shop

The Three Ways to Appraise a Business 1. The ASSET VALUATION METHOD. This method is basically used when a body shop does less than $400,000 a year in gross income and the seller is making wages, but no real profit above what he would be paid if working for another. On this size business, a […]

Misrepresenting a business for sale is it a crime?

Crime Does Pay When Buyer’s Don’t Do Due Diligence Since I became a CFE (Certified Fraud Examiner) and started going to National conventions, I have been finding out some very interesting facts about white collar crimes. White Collar Crime’s Financial Cost 15x Higher than Violent Crime Violent crimes, including theft, armed robbery, and murder cost […]