Morgan & Westfield - Deal Talk

Whether you should buy or lease your business property depends on a number of factors, but no matter what you decide, both leasing and buying property are not without their pitfalls. Those pitfalls can cost your company thousands of dollars on a monthly basis, eroding your profits and your company’s overall value. Buying and leasing require proper due diligence. On this edition of “Deal Talk,” Tony Guglielmo, owner of Allied Commercial Real Estate in Southern California, shares his expertise and real-life examples of business owners who were the victims of their own bad decisions and what you can do to avoid the same mistakes.  

As a business owner, handling your own legal issues makes as much sense as performing your own brain surgery. One misstep can mean dire consequences, including litigation and financial losses that could doom your company. Find the right business attorney who has a genuine interest in your company’s financial and legal well-being, and you will have a trusted business advisor for life. Robert Shipley is an attorney specializing in business law as the principal at Shipley Law Group in Chicago. With 37 years of legal experience, Robert will explain how your attorney can be one of the most important business resources your company will ever have.

For those business owners in growth mode, this is a show for you. If you’ve wondered about the feasibility of expanding your company through franchising, you’ll first want to decide if the franchise business model is right for you. But how do you determine that? Why are some types of businesses right for franchising? What are some of the criteria for a promising franchise business? Are you the kind of owner who can allow someone to come in and run one of your locations without your direct feedback, or do you have to have constant control? Attorney Julie Lusthaus, partner at Einbinder Dunn & Goniea in New York and a specialist in franchise law, joins us to provide her expert view on the subject of franchising.

Before you sell your company, or merge with another company, there are some things you need to think through. Our guest on this edition of “Deal Talk” shares five rules that he says could help you make the right choice, whether you’re considering a strategic M&A deal to grow your business or an outright sale to exit your business altogether. James Lewis is a business consultant and former executive at CVS Health, who worked to acquire a number of small businesses for the company. That background combined with his own entrepreneurial experience gives him a unique perspective with insight that all business owners can learn from.

The amount of money lost by businesses across America in legal cases each year is staggering. When you include damage awards, attorney fees and the impact on a company’s reputation, the results can be crippling to the value of your business. So what exactly are the biggest legal risks to your company? And how do you protect yourself against those legal risks? For answers to those questions, we turn to business attorney Virginia Suveiu, who counsels on legal risk management, regulatory compliance and public policy. Ms. Suveiu developed the Legal Risk Management Specialized Studies Certificate Program for the University of California, Irvine. This is a must-hear show!

What if someone in Canada, Mexico or overseas was interested in buying your business?  Would there be any difference in the way the transaction would be carried out?  Would there even be an advantage in selling your company to a foreign buyer?  The landscape has changed, and with so much interest from international investors in American businesses, it’s important to understand the motivation of the buyers and some of the things that make global mergers and acquisitions unique. Joining us with his expert perspective on this topic is Mr. Drew Dorweiler, CPA and Certified Valuation Analyst with over 30 years of global corporate experience.

There are many different types of business valuations and some of them are more comprehensive than others. Business appraisers also have different methods for calculating values.  Why is this important to business owners?  Moreover, why is it important for business owners to understand what types of events and activities can have an effect (often times negative effect) on the numbers?  Business valuations are important and the type you need depends on a number of factors.  Jeff Allen visits with Mr. C. Fred Hall, CVA and CEO of Affordable Business Valuations, who’ll offer an easy-going conversation to answer some of the most important questions appraisers are asked by business owners every day.

Business owners contemplating selling their companies for the first time often will benefit from the sage advice of this program’s guest.  Walter Zweifler of Zweifler Financial Research brings 40 years of professional business valuation and consultative experience to answer a range of common yet essential questions that many owners have when considering selling their business. Together, Mr. Zweifler and Jeff Allen discuss challenges to business sellers, the impact of the economy and marketplace on valuations, the importance of objectivity of business appraisers, options for sellers who aren’t sure about their exit strategies, and much more.

You might be surprised to find out how many business owners don’t consider the need for a professional business valuation, or appraisal, prior to listing their business for sale.  But what if you are approached by someone who wants to buy your business and makes you an offer?  Why do you need an appraisal at that point if though you’re inclined to accept the offer?  The truth is you could be leaving tens or hundreds of thousands of dollars (or more) on the table without undergoing a professional business appraisal.  Peter Agrapides, founder of Filotimo Capital Consultants, returns to talk about why an appraisal from a professional valuation consultant prior to selling your business is very important.

Who you want to sell your business to is one of the most important considerations you’ll make as you begin to think about selling or transitioning your company. It can affect the dynamics of the structure and operation of your business going forward and even its future existence as an operating entity.  Do you still want to be involved in your business?  How important is it that your employees are taken care of and remain happily employed?  There is a myriad of questions you need to ask.  Peter Agrapides, founder of Filotimo Capital Consultants, is a transactional valuation consultant who joins Jeff Allen with some important guidance for business owners on this issue.

Many entrepreneurs don’t include their exit strategy in their business plan, while others don’t consider changes they need to make to the strategy they already have in place.  Planning your exit from your company well before any sale or M&A deal can have huge benefits for you and everybody in your organization down the line. It can even help make the eventual sale of your business go more smoothly.  Get the details in our discussion with Mr. Bryan Graiff, member-in-charge of the transaction advisory in the litigation support group at Brown Smith Wallace LLC, in St. Louis.

One of the most important decisions you can make for your business is hiring the right attorney. He or she should be your legal partner, know your company well and have the best interests of your business in mind at all times. But with so many business attorneys out there with so many unique specialties, how do you know which one is best for you?  What questions should you ask?  Why is it particularly important for the due diligence that must be performed on your company prior to selling it?  Hanwei Cheng, senior legal counsel specializing in business law at Adli Law Group PC in Los Angeles joins us for this discussion on “Deal Talk.”

Capital gains tax is a fact of life. Depending on the structure of the deal and the amount of proceeds you receive from the sale of your business, the capital gains tax you pay could be substantial.  The question is: how can you reduce the tax burden so you can have more of the proceeds available to sustain the lifestyle you want to enjoy?  Cal Garvin of Garvin Associates brings over 35 years of experience in the financial services industry to discuss the options that are available to business owners today, including one option specifically intended for retiring baby boomers who are exiting the business world with no intention of returning.

If you’ve been thinking about growing your business through a capital injection that may include working with a private equity firm or being acquired by another company, how do you know if your company is actually worthy of investment?  Positive cash flow and consistent year-over-year sales growth may not be all that is needed to lure the right investors or buyers.  On this edition of “Deal Talk” we’ll find out what an experienced serial entrepreneur and venture capitalist has to say about the companies he’s helped turn around and lead in the past.  Join us as Jeff Allen speaks with Dan Tamkin, currently the Corporate Developer and CTO at Transdev.

Business attorneys have a breadth of knowledge that we as business owners can use to our advantage.  However, it’s important to make sure you have the right attorney on your team before you sell your business.  Whether you own your own privately held company or a franchise, you need to know who to talk to and what questions to ask to find a lawyer who will have your best interests at heart. M. Blen Gee Jr. is a business lawyer specializing in commercial law, contracts, corporate law, business litigation and mergers & acquisitions.  He has helped hundreds of business owners, and agreed to share some of his legal tips with you on this edition of “Deal Talk.”

It’s one thing to consider selling your business. It’s another thing to actually do it. On this edition of “Deal Talk,” Jeff Allen meets with Dr. Harry Freedman, who talks candidly about his experience of selling his business—a successful franchise quick oil change shop.  Dr. Freedman discusses some of the anxiety he had during the process along with what he believes was the key to a smooth transaction.  You’ll also learn about the team that Dr. Freedman worked with every step of the way. This show provides a fascinating first-hand account of selling a business, and is particularly valuable if you are considering selling a business for the first time.

Many business owners looking to grow their businesses may never consider franchising for a variety of reasons. However, the decision to ignore or avoid franchising as a legitimate means of business growth may come from a lack of understanding of the real short and long term benefits of a corporate growth model with a long track record of success.  The truth is that franchising is not just for fast food and dry cleaning chains.  Businesses in all industries are leveraging franchising for growth. Listen and learn from Mark Siebert, CEO of iFranchise Group, about what makes a business “franchiseable” and what franchisees should consider when looking for a business to buy.

You’ve heard us talk about due diligence before, but the fact is, the better your accounting practices and bookkeeping are in the first place, the easier it will be in the long run when it’s time to begin the sales process. Buyers of small and mid-market businesses are more savvy these days, and they know the signs of a company that is in distress versus one that is succeeding, well-managed and built for the future. Business, corporate and real estate transactional attorney Michael Schachter is the co-founder and co-owner of the Pearson & Schachter Law Firm in Southern California. Listen as he talks about the importance of staying organized and having the right people in place to help in that process.

Small business owners may be surprised to learn that SBA loans are not just ideal finance options for startup companies.  The Small Business Administration wants startup and seasoned entrepreneurs alike to know that financing is available for a multitude of needs and that it can be obtained quickly compared to other sources of financing.  Mr. Matt Millett, Vice President SBA Business Development at Community Bank in Southern California, discusses the different types of SBA loan programs that are available to business owners. He’ll also discuss the advantages of SBA loans over other types of financing.

It is becoming more common for individuals who like their jobs so much, that they buy their employer’s company.  Deborah Sweeney is one example.  After a successful career as a business law attorney, she entered the corporate space to lead MyCorporation.com while it was in the hands of Intuit.  How Ms. Sweeney eventually acquired MyCorporation may be a textbook example of how a dedicated C-level executive could put themselves in a position of favor with their company’s ownership for the acquisition of the business outright. Join Jeff Allen as he gets all the details from the owner of MyCorporation, herself—Deborah Sweeney.