02 - FREE Business Advice - Different Types of Buyers, When Is a Good Time to Buy a Restaurant? The Laundromat Biz, Second Locations, Standing Out to a Broker, Valuing a Buyout and Transitioning Employees

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Every Thursday, I host live consulting sessions where I offer free advice to listeners. It's an engaging and enjoyable experience. Here's what we discussed in this session:

04:37 - When is buying a restaurant

07:35 - How can I bypass the collateral requirements for real estate in SBA 7(a) loans, especially since I own my home and am unwilling to use it as collateral?

10:37 - Considering acquiring a laundromat in Ventura, California, and wants to know if it's a good decision based on his expertise, risk tolerance, and financial situation. He seeks advice on evaluating the opportunity beyond financial metrics, choosing the right investment size, and understanding its impact on his career and lifestyle.

29:37 -  How do you forecast opening a second location in your business? And what's a cost that most business owners forget?

37:33 - With access to money and free time in Dallas, Texas, where should I begin if I want to start a retail olive oil shop in a popular neighborhood? My main worry is the high cost of rent.

40:33 - How can I convince brokers to take me seriously as a first-time buyer despite lacking an acquisition history, knowing that many first-time buyers may not follow through on deals?

50:36 - How do we fairly value a buyout in a 50/50 business partnership where one partner is now fully committed while the other has other ventures? Considering a 75/25 split, is leaving 25 percent equity fair?

56:09 - How do we transition our independent mechanic, who does good work but struggles on the business side, into a hired employee for our heavy equipment business, considering his requested salary and lack of licensing or insurance?