Business Buying Advice

You should get business buying advice early in the process of buying a business.  Usually my clients don’t call me untill there is a problem. Curious, I went on the web to see who else offered CPA business buying advice, called “Due Diligence” services. To my amazement, I came up on the first page.

Next, I put in due diligence services. I found dozens of listings related to due diligence computers. I am too old to compete with computers that do due diligence. Will someone tell me how a computer smells fraud? You would think business buyers would want advice on what is a good business to buy. Nobody advertises this business buying advice for the business buyer. Lots of people offer expert advice on buying coins, stamps, fashion and other things.

I keep suggesting that the buyer call early in the process of buying business.  Esecially if he asks himself “What is a good business to buy?” By the way, the actual question to ask is “What industries are making a profit today and will most likely still be making a profit in 20 years?” Did you know that it is estimated that 70% of the types of businesses that will be around in 20 years, do not exist today?  That is the real business buying advice.

After the purchase.

After you have found and bought the business that you love, go beyond the initial business buying advice. The next question is how do you make money and keep the money? I also offer services to detect and stop waste of your income and theft / embezzlement of your money.

Lets go back to the idea I came up with after finding all those experts offering consulting. If I joined any of those websites, the people who should use my service would never find me.

But if I offered this service to the people who know me, that might get a different response. Would a business buyer prospect or business owner want to be able to call up a CPA and business broker who has 27 years’ experience? Would he want advice given with no ax to grind? From someone who only wants to make sure people are not being taken advantage of? Clients who call me now have a business they want help with.

I keep suggesting that the buyer call me early in the process of buying business.  Esecially if he asks himself “What is a good business to buy?” By the way, the actual question to ask is “What industries are making a profit today and will most likely still be making a profit in 20 years?” Did you know that it is estimated that 70% of the types of businesses that will be around in 20 years, do not exist today? Get some business advice on what is a long lasting business.

No Free Lunch

As the saying goes, there is no free lunch. So, now I am going to ask a question that I would appreciate very much if you would answer. The usual practice is you sign a retainer agreement and buy 5 hours or more at a time for business advice. If you could call me up, use a credit card and only have to pay for consulting by the minute, would you use it? We are not talking about doing a full evaluation of a business, the so called “due diligence”. Just getting a few questions answered in 5 or 10 minutes. A few questions answered that might save you from buying a bad business.  If you bought that bad business, you would have to hire me as an expert witness in a law suit to get your money back.  Better you should avoid that trouble by getting some advice early on.

Please call or e-mail me. I will give you five free minutes the next time you might want it. Contact me at Willard@evaluateabusiness.com or 805-428-2063.