Posts Tagged ‘Selling Your Business’

Knowledge Luncheon – How to Get the Most for Your Business When You’re Ready to Sell

Saturday, February 11th, 2012

Sunbelt Midwest Presents…

Knowledge Luncheon – February 22nd, 2012 from 11:30 a.m. – 1:30 p.m.

  • Increase your knowledge on how to raise the value of your business
  • Learn more about the tax consequences of selling a business
  • Get free advice on how to make your business more attractive to prospective buyers
  • Q&A after each presenter

We know how busy you are so we’ve scheduled monthly lunch events that you can attend at your convenience.  RSVP at least one day in advance and we’ll provide a light lunch and important knowledge related to buying and selling businesses.  Simply check www.sunbeltmidwest.com for upcoming event topics that suit your interests.  Our local network of professionals including CPAs, attorneys, business owners and friends look forward to sharing experienced knowledge and lunch with you.

Event Host:

Matt Schroder
Sunbelt Business Brokers
1300 Goward Street, Suite 6300
Minneapolis, MN 55413
Phone:  612-751-6868

Guest Presenters:

Dan Freeman, DS&B – Certified Public Accountants, Consultants & Advisors
Kevin Koepke, Koepke Law, Ltd.

Sunbelt Midwest Team

The next Knowledge Luncheon is being held at:
Star Bank – Eden Prairie
250 Prairie Center Drive
Eden Prairie, MN 55344-7819

Also co-sponsoring this event:

Koepke Law Ltd
DS&B
Inner Circle
InterActive Circle

Profiles:

DS&B – Certified Public Accountants, Consultants & Advisors

Daniel Freeman
222 S. 9th Street, Suite 3000
Minneapolis, MN 55402
Phone: 612-630-5049
dfreeman@dsb-cpa.com

Innovation.  Not the typical term used to describe the Art of Accounting.  However, Dan is not your typical accountant.  Dan has gained 25 years of hard-nosed business experience managing over 900 employees as the Chief Financial Officer of a restaurant management company, business planner for a real estate and development company, and performing consulting services, audits, financial strategy, and litigation support for various clients.

As an advisor to all phases in the business life cycle, Dan has helped many clients through multi-generational transitions, succession planning, buy/sell agreements and acquisitions.

Dan has extensive industry knowledge spanning many client groups including: retail, restaurants, manufacturing, distribution, construction and real estate development.

Koepke Law, Ltd.

Kevin Koekpe
3161 Fernbrook Lane N
Plymouth, MN 55447
Phone: 763-201-1201
kkoepke@koepkelaw.com

Kevin Koepke, an attorney for the past 20 years, is the founder and owner of Koepke Law, ltd.  Koepke Law is a Twin Cities law firm that works extensively in the areas of business sales, shareholder succession, litigation, mediation, buy-sell agreements and banking.

The firm’s team of attorneys and paralegal are committed to providing efficient legal services that are timely and cost-effective.

Sunbelt Business Brokers

Matt Schroder
Licensed Business Broker
Minnesota and Wisconsin
Phone: 651-288-1629
mschroder@sunbeltmidwest.com

Matt is a top producer at Sunbelt, where he has been helping people buy and sell business for ten years.  He is a skilled negotiator, drawing on many years of experience in the business world.  Matt effectively uses his knowledge to educate clients and guide them through the sales process.  He is a licensed business broker in both Minnesota and Wisconsin.

Matt specializes in valuing business and putting together transactions that make it to the closing table.  His effective skills have earned him several Sunbelt Broker of the Year awards.  He has been involved in over 100 transactions in Minneapolis and St. Paul area and has sold both franchise and privately held businesses.

Prior to joining the Sunbelt team, Matt owned his own sales and distribution company.  As a business owner, he worked with numerous small business owners.  His diversified background includes extensive sales, marketing, financing and management experience.

Matt is licensed to sell businesses in both Minnesota and Wisconsin.  He is a member of Sunbelt Midwest, with two offices in the Twin Cities of Minneapolis/St. Paul, helping people buy and sell businesses in Minnesota and the greater Midwest area.

To Attend:

Register online at www.sunbeltmidwest.com or by contacting Andrea Rogge at 612-238-1288 or arogge@sunbeltmidwest.com.

Stay updated on this and other events by visiting www.sunbeltmidwest.com where you an register online for this and other upcoming events.

 

Legal Disclaimer: This article is intended for informational purposes only and by no means should replace or substitute other legal documents (governmental or non-governmental) reflecting similar content or advice. If you have any questions concerning your situation or the information provided, please consult with an attorney, CPA or HR Professional.

Business Succession Seminar Announced

Thursday, March 31st, 2011

Business SuccessionAs business revenues and business values declined over the past several years, many owners delayed their departures from their businesses.  Those owners, now five years older, are energetically seeking buy-outs from their other owners.  Unfortunately, buy-out disputes are occurring between departing owners and remaining owners about stock values, stock payment schedules, non-competes and the sale of the business.

PCS Client Koepke Law and PCS Partner Sunbelt Business Brokers will be presenting the seminar “Must-Knows for Successful Business Succession” on April 28th from 9am to 11:30am at the Crowne Plaza Minneapolis West (formerly Radisson Conference Center), 3131 Campus Drive, Plymouth, MN 55441.

A panel discussion on the following topics will be presented:

  • What is Business Succession?
  • Why is a Shareholder Agreement Important?
  • What is your Business Worth?
  • Where Does the Money Come From for the Buyout?
  • Shareholder Lawsuits and Resolving Shareholder Disputes.

This is a complimentary seminar.  We encourage you to bring a colleague or friend who may be interested in these topics.  Seating is limited so please reserve your seat by contacting Nancy Donahue at (763) 201-1210 or ndonahue@koepkelaw.com.  For more information on the seminar, click here.

Legal Disclaimer: This article is intended for informational purposes only and by no means should replace or substitute other legal documents (governmental or non-governmental) reflecting similar content or advice. If you have any questions concerning your situation or the information provided, please consult with an attorney, CPA or HR Professional.

The Successful Sale Of A Business Requires Preparation

Tuesday, June 29th, 2010

Business ValuationNote: This is the third in a series of three articles on preparing for the sale of a business. It is a summary on Mr. Lyons’ popular book, Exit Strategy: Maximizing The Value Of Your Business.

In parts one and two of this series, we established that selling a business is the final part of the owner’s role in building it, and that, with some strategic planning, including retirement and estate planning, owners can maximize the value of their businesses, minimize the tax consequences, control the timing of the sale, and ultimately reach their personal financial goals.

In this article, we look at the process of selling a business, which some may compare to a real estate transaction. The truth, however, is that selling a business can be exceedingly complex, and require experienced advisors quarterbacked by a seasoned business broker to maximize the value of the business and minimize the tax ramifications.

Preparing the physical appearance of the business real estate may increase the confidence the buyer has in the continued maintenance of the business. Remove unused machines and old furniture, repair broken fixtures, and paint the facilities. These types of measures cost little for the potential impact they make.

With the facilities cleaned up, it will be time to begin marketing the business. Prospective buyers will receive a short “teaser” letter from the business broker. The teaser provides enough information to entice the buyer to make an inquiry without disclosing the name of the company.

After a financial screening process and the signing of a confidentiality agreement, the business broker will provide in depth information about the business.

Who are these buyers? A seasoned broker will identify key buyer markets and should target those who can potentially afford to pay the most for the business. They may be competitors, vendors, manufacturers, distributors, private equity firms or any number of people who can maximize the profitability of the business.

Once a committed buyer emerges and a Letter of Intent is signed, the buyer and seller enter a period of due diligence. During this period, the buyer and his or her accountant will scrutinize every aspect of the business: All financial records, real estate, titles, leases, intellectual property, sales and management personnel, operations, key employees, customers, and much more.

In short, the buyer becomes intimately knowledgeable about the business.

The due diligence period is based on trust and confidentiality. A prospective buyer must sense that he or she is receiving the best information possible, and that nothing is being withheld.

When the buyer is comfortable with the due diligence review, it is time to proceed to the closing. Building trust between the buyer and seller is essential to closing the deal. Throughout the marketing and due diligence, there are opportunities for the seller and buyer to come to know each other and develop a relationship built on trust.

The deal will be painstakingly described, in all of its legal glory, in the purchase agreement and any supporting documents. Yet, there is still some negotiating to complete. It will take an experienced business broker and a skilled team of advisors to work with the buyer’s team to find mutually acceptable compromise in order to close the deal.

At this point the lead in negotiations usually shifts from the business broker to the M&A attorney so that the both sides can work out the final details of the agreement.

When each party is comfortable with the purchase agreement, the deal is signed and completed. The actual closing event tends to be anticlimactic. The transaction attorney will provide a closing book, which will contain copies of all the closing documents. This, along with life’s other important documents, such as wills, trusts, financial statements, property titles, etc., should be filed in a home safe or a bank safe-deposit box.

Selling a business is a complex process that requires vigilance and persistence. Deals don’t just happen. They need a driver—a quarterback to make sure they are completed. The business broker is that quarterback.

Article By: Thomas W. Lyons

Thomas W. Lyons is founder and principal partner of Faelon Business Brokers, a Minneapolis-based mergers and acquisitions advisory firm. Mr. Lyons is author of Exit Strategy: Maximizing The Value Of Your Business and conducts seminars based on the book for business owners and advisors. For 35 years, Mr. Lyons has owned, operated, bought and sold businesses; for the past 25 years, he has advised and represented owners in buying, selling and planning for business exit strategies.  He is also the host of Today’s Business Radio.com and can be heard on 830 WCCO at 11:00 a.m. on Saturdays.

More information and the book can be found at www.faelon.com.

Legal Disclaimer: This article is intended for informational purposes only and by no means should replace or substitute other legal documents (governmental or non-governmental) reflecting similar content or advice. If you have any questions concerning your situation or the information provided, please consult with an attorney or an HR Professional.