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.
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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This week on SmallBizChat Podcast:
- 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.
Resources Mentioned:
Online Courses: https://SmallBizLadyAcademy.com
Connect with Jack Wilson:
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