Before You Buy or Sell a Business

In this episode, host Jared Johnson welcomes Mitch McGinley from SD Business Advisors. The two discuss how Mitch got into a niche market of the business brokerage field: fitness studios.Mitch McGinley started his career in the hotel industry but got tired of being yelled at. While still managing hotels, Mitch started night school to get his MBA in accounting. This opened his eyes to a realization: managers don’t make money, owners do. So, Mitch talked with his General Manager about how he wished to become a hotel owner. His GM, who had become a mentor at this point, connected him with John Pani. John Pani had gone out on his own and was buying and selling boutique hotels. Mitch found this to be an exciting opportunity and began working with John as his only employee. They operated two hotels; and Mitch elevated one to become the number one ranked hotel in San Diego on Booking.com.But being the only employee got tiresome; the hours were long and Mitch’s cell phone number was taped to the front door. Mitch and his wife had a dream to own a yoga studio and they finally had the confidence to pursue it when they were approached by the owner of their favorite studio. Mitch took advantage of the offer and was able to make a six-figure profit from the sale in their third year. This experience would lead him down the path of business brokerage in a niche market.Not long after the sale, Mitch was then offered a job with two young, professional, and humble leaders. Having gone through the buying and selling process himself, Mitch is able to have a deep understanding of his clients, helping him build a reputation in the yoga and fitness studio market. If you have questions for Jared, visit JaredWJohnson.comDISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

This week, Jared sits down with Isaac Saucedo, owner of Quick-Dry Flood Services. The previous owner was retiring and offered the business to Isaac and his business partner. Isaac took the offer seriously, saving money to make it happen.Isaac Saucedo grew up in San Diego and got into the construction industry through his father, who was a building inspector and eventually became a general contractor. In 2009, Saucedo started a construction and building company, right when the real estate market was collapsing. They had zero work going around, so people might have thought they were crazy. But word of mouth advertising led to jobs and success for the company. Overall, Saucedo has had a successful experience in owning businesses and has advice to offer other buyers and sellers.If you have questions for Jared, visit JaredWJohnson.comDISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

This week Jared interviews Trent Lee, and they discuss much more than buying and selling businesses.Trent was the International Business Brokers Association (IBBA) Top Individual Deal Maker in 2019, 2020, and 2021, and in 2019 was also awarded the Outstanding Producer award. He should also win in 2022. He also holds his business appraiser license. Trent provides some great insight into his background and how he sold multiple businesses before getting into the business and brings a great perspective to the selling process. They touch on many topics, from the current industry climate to what he looks for in a listing to what buyers should do to be ready for the purchase.Trent provided outstanding advice for both buyers and sellers and walked us through the listing process. Jared, of course, asks about his motivation and mentorship and his answers may surprise you.Trent can be reached at sellbusinessinlasvegas.com.The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

There are 42 steps to buying a business, let’s talk about itWhile attending the Texas Association of Business Brokers conference Jared sits down with Josh Levine who is the Co-Founder and CEO of Private Market Labs. Jared and Josh discuss a lot of different subjects surrounding business acquisitions and the process. Josh shares what Private Market Labs is all aboutand what he’s been working on. Together, they identify the challenges that come with buying a business and what they feel needs to be changed. The topic of search funds comes up many times andJosh covers how Private Market Labs is helping them.Josh provides some great information about the full industry and goes into detail about his own challenges with building his business.Josh Levine can be reached at www.privatemarketlabs.com and is very active on Twitter: @levinejmThe views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

This week Jared interviews Keith Kahn who has acquired 2 different restaurants and sold one. Keith and Jared talk about the process of buying 2 different businesses and provide a lot of valuable information.Each acquisition was very different and had its own challenges. They discuss the need for a good non-compete agreement. Keith discusses the transition period for each purchase and what he would’ve done differently. Jared and Keith also talk about the business that Keith sold and what took place from the listing to after the sale.Keith covers what it takes to be a great restaurant owner and his future plans all while providing some great motivation to future and existing entrepreneurs.The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Are you looking to buy or sell a business with a price tag over $10,000,000?On this episode Jared speaks with two very successful business brokers; Sean Seaman and Dustin Sigall who are the founders and owners of SD Business Advisors. They discuss the topic of larger transactions and how these deals are different. Sean and Dustin answer the questions you’ve likely been askingwhile providing some exceptional advice. Jared, Sean, and Dustin talk about Private Equity Group and what exactly that means and what a seller should be looking out for when they could have a PEG buyer.The conversation has some excellent insight into the economy, the current M&A environment, and we learn what makes these highly sought-after brokers different.To find out more about SD Business Advisors, visit: https://www.sdbiz.com.If you have questions for Jared, visit JaredWJohnson.com

Have you ever wondered what it’s like to buy a business that encompasses your experience and skillset?This episode covers a lot! Jared interviews Tom Gonzalez, who bought a dog daycare in sunny San Diego, CA with his wife Pam. Jared and Tom discuss the full transaction and provide great insight into what it’s like to buy a business with real estate. This deal had many twists and turns including dealing directly with the seller, fluctuating emotions, and negotiations all the way to the very end. Jared and Tom talk about using ROBS for the down payment, SBA loans, and how to handle prepaid contracts.They cover what happened after the purchase and Tom’s advice to a potential buyer is outstanding, very insightful, and provides some valuable guidance.If you have questions for Jared, visit JaredWJohnson.comDISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

If you’re considering selling your business, what should you have in place to ensure you’ll get top dollar?In this episode, Jared is joined by Alan Horwitz, one of Vegas’ top Business Brokers with Sunbelt Business Brokers. Alan discusses how he became a business broker after retiring early from a successful run as a business owner. Plus he talks about the process he uses to assess and onboard new buyers, deals he will and won't do, and how his process has enabled him to be successful in this industry for over twenty years. They talk about why finding the right broker is essential when you’re getting ready to sell, and why all brokers are not created equal. They also discuss, why getting a listing for the most money isn’t always the best option. Plus they cover what every seller should do within their business before they even approach someone about listing.Alan also talks about how he typically works with buyers, and the simple things they can do to set themselves apart from other offers when buying a business. Want to connect with Alan? Visit: https://www.vegasbusinessbroker.com/To connect with Jared, visit: JaredWJohnson.comDISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.

Welcome to Before You Buy or Sell a Business a podcast that will give you an inside look into of buying and selling businesses.DISCLAIMER: The views and opinions expressed in this program are my own and/or those of my guests. They do not necessarily reflect the views or positions of my employer.