In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen share expert insights into the process of buying a business. They discuss how to evaluate a company’s financial health, the importance of due diligence, and why seller financing can be a game changer. Whether you're a first-time buyer or looking to expand, use these actionable steps to ensure a smooth and successful transaction.
Here are some of the highlights:
- Mark and Mat emphasize finding distressed sellers rather than distressed businesses.
- Importance of reviewing normalized financials and understanding add-backs.Considering seller's future involvement and non-compete agreements.
- Strategies for making offers, including contingencies and ranges.
- Considering seller's future involvement and non-compete agreements.
- Caution against rushing into agreements and encouragement to walk away from bad deals.
- Significance of building a team of advisors for the buying process.
