Andy and Jessica are accompanied in today's episode by JT Tatem from Transworld Business Advisors of North and South Carolina to talk about the business goals for this brand new year, JT is an expert in goal setting and business sales, and he is providing the tools to start 2021 on the right foot.
Many aspects of the business environment have changed as a result of a turbulent 2020, including a noticeable spike in business buyers, so if you are considering buying a business in 2021, you can't miss this episode!
Listing of the week: Michael Shea is selling a business in the cleaning and janitorial space: Porter Service and Exterior Cleaning Company. Asking price: $700,000. Cashflow: $300,000. Sign up at Michael Shea Buyer Matching Program. Email at mike@tworld.com or at (321) 287-0341.
Key takeaways:
[2:30] Some of the reasons why to buy a business in 2021.
[4:17] If your goal is to buy a business, how can you achieve your goal?
[8:17] Starting a business takes commitment.
[8:41] The eight Ws of goal-getting
[9:50] Write: Write down what you want.
[14:01] Why: Identify your reasons to become a business owner.
[16:13] Where: Identify where the obstacles are going to be.
[18:17] What: What do you need to learn?
[20:44] Who: Who is going to help you?
[22:26] The Way: You need a game plan.
[25:13] When: What is your timeline? Is it realistic?
[27:43] Work: You are going to have to work hard.
[32:40] These are ways to make it easier for your broker to find the best deal for you.
[24:44] Deal of the week: Aaron Fox (North Boston) sold a local grocery store. The buyer was attracted to this business by the pandemic. Sold through a full SBA loan at three times its SDE.
[39:47] Listing of the week: Michael Shea is selling a business in the cleaning and janitorial space: Porter Service and Exterior Cleaning Company. Asking price: $700,000. Cashflow: $300,000.
Mentioned in this Episode:
The Deal Board Podcast
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — (888) 711-9018
Email us thedealboard@tworld.com
Listen to "Everything You Need to Know About Buying a Business"
Contact JT Tatem at jttatem@tworld.com, call (864) 315-8998, or visit Tworld.com/upstatesc/ or Tworld.com/ashevillewnc/
Call Aaron Fox at (781) 773-8922 or email at afox@tworld.com
Sign up at Michael Shea Buyer Matching Program. Email at mike@tworld.com or at (321) 287-0341
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