How to Purchase an Existing Business with Jack Wilson
In this episode, Melinda Emerson introduces guest expert Jack Wilson, who shares his extensive knowledge on acquiring existing businesses. The discussion covers key factors and growth potential when purchasing a business, including the types of businesses that are ideal for acquisition and various financing options. Jack provides insights into identifying red flags and strategies for employee retention during a business transition.
Key Points
- Acquiring an existing business can be a strategic way to enter entrepreneurship by leveraging the stability, cash flow, and customer base of an established entity.
- Key metrics to evaluate when purchasing a business include revenue growth rate, gross and net margins, customer acquisition and retention rates, market share, and operational efficiencies.
- Financing options for buying a business include seller financing, SBA 7(a) loans, and the Rollover for Business Startups (ROBS) program, which allows the use of retirement funds without penalties.
Jack Wilson is a Franchise Development Director with HomeWell Care Services. He has been involved in franchising since 2012. Jack also owns Rezultz Team, a franchise consulting firm affiliated with the Franchise Brokers Association. His expertise spans the areas of franchise and independent start-ups, mergers, acquisitions, business growth strategies, and business exit planning. Jack formerly owned and operated a franchise, Liquid Capital of Greater Philadelphia, a certified MBE company focused on accelerating cash flow for small and mid-market B2B businesses. For more information: https://www.rezultzteam.com
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Transcript
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