How Long Does it Take to Buy a Business? business broker smb buying a business

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How Long Does it Take to Buy a Business? business broker smb buying a business

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David C Barnett Small Business and Deal Making SMB

Күн бұрын

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Eric is concerned after 18 months of looking. Should he be? Can he do more?
Firstly, in the video, I mention a business broker. His actual name is Curt Maier. Sorry Curt!
Eric writes to me because he’s been looking for a year and a half and is concerned.
Should he be?
What is Eric doing to find a business and is there something that can speed up this process?
I explore the market, the role of brokers and how much of the market they can really access for you and more.
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business brokers smb mergers and acquisitions buying a business buy a business

Пікірлер: 20

@mbb3957 2 жыл бұрын

There is incredible value in this channel. Thank you for all of your hard work, David.

@DavidCBarnett 2 жыл бұрын

I appreciate that Clayton, thanks.

@Tim_Krause Жыл бұрын

Lot's of deals done off market! Currently I'm pending to buy a book of business with no one involved except the lawyer. IMO to find a deal it's not a matter of time, but a matter of results. Looking for 18 months and only talking to a few sellers is not great. You need to talk to a lot of sellers! When I was in the flipping land business it was normal for 2,000 letters per deal. We would talk to 20 people from those letters and only buy one.

@DavidCBarnett Жыл бұрын

Yes, you're right. The searchers who I work with that are successful are networking with a lot of owners as fast as they can.

@victor7530 2 жыл бұрын

Thanks David. A good combination of detailed advice and good old common sense. I did your business buyer advantage course and it helped me to understand what kind of businesses to avoid because they wouldn't suit me personally.

@DavidCBarnett 2 жыл бұрын

Thanks Victor.

@Victoria-jh9uf Жыл бұрын

Very valuable info. Sticking to one industry is very helpful.

@DavidCBarnett Жыл бұрын

Absolutely!

@Wealthbuildingcoach Жыл бұрын

Great content!

@DavidCBarnett Жыл бұрын

Thanks GWB.

@AyungMtwiz Жыл бұрын

How do you decide what business is right for you?

@DavidCBarnett Жыл бұрын

Great question. We'll add this to the list.

@ericcurrence8477 2 жыл бұрын

Thanks Dave.

@DavidCBarnett 2 жыл бұрын

Thanks for sending in the question Eric. I think it's something that every searcher wonders at some point.

@seanlee2278 4 ай бұрын

Thanks for the great video! I have one question: I found this business that I want to buy on a website. Am I allowed to reach out to the owner directly if I can? Or if I go on a broker route, how can I ensure that the broker is really qualified and will do the right thing for a good deal? I’m in Canada by the way.

@DavidCBarnett 4 ай бұрын

This is a great questiion for a video. I'm adding it to the list. You should inquire via the method advertised on the website.

@Pernection 2 жыл бұрын

Do buyer brokers charge a commission?

@DavidCBarnett 2 жыл бұрын

In my experience, if a broker is helping a buyer then they want to be compensated for their time. IE a search fee and maybe have expenses reimbursed on an on-going basis AND THEN when you buy, some small success fee. I've never heard of a buy-side broker working entirely on a commission. 9/10 searchers don't become buyers.