Exit Planning Institute North Texas Chapter Social

Date:  June 8, 2017  4:30- 6:30
Place: Nick and Sam's, 8111 Preston Rd, Dallas 75225  (Preston Center SW corner)
Members: $15; Non-Members $20
Register: Here


"Working Capital - What You Don't Know Can Sabotage the Transaction"

Date: July 14, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900 Dallas, TX 75230
Members: $15; Non-Members $20
Speakers:  Monty Walker and Robert Rough

Register: Here


" Could Exit Planning Have Saved This Family and its Business"

Date: August 11, 2017  7:30- 9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900, Dallas, TX 75230
Members: $15; Non-Members $20
Speakers: Doug Box, Interviewed by Mariann Montgomery
Register: Here


"Business Value for Exit Planning-Triggers Drivers Approaches"

Date: September 8, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs , Suite 900, Dallas 75230
Members: $15  Non-Members- $20
Speakers: Chris Mercer
Register: Here

 


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Let’s start by defining “sell” as the total amount an acquirer would pay at closing including the down payment, bank financing, and an owner held note. So, we’re not talking about a number that a competitor suggests casually over a drink at a trade conference. Let’s also assume that yours is a financial buyer, and not a strategic buyer. Step I – Show Me the Money The first thing a potential suitor will look at is how profitable your business has been over the last three to five years, and, the projected revenues and profitability. If your company has had increasing revenues and profitability during that time, and, if your company is a top performer in your industry, your potential buyer is likely to seek more information.

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The majority of businesses in America today started out as service companies. If you want to own a web design firm, you don’t need a lot of money, just a technical knack. Enterprising professionals who know how to get the media’s attention can start their own public relations firms without much more than a mobile phone. No capital required. But if you want to build a valuable company – one you can sell – you’ll want to stop presenting yourself as a service firm. Consultancies are not usually valuable businesses, because acquirers generally view them as a collection of people who peddle their time on a hamster wheel. The typical way to sell a consultancy is for the consultants themselves to trade their equity for a job, in the form of an earn-out that may or may not have an upside.

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Private Equity Groups, sometimes called a “PEGs”, invest in privately held businesses. Their cash comes from several sources including: pension plans, insurance companies, wealthy individuals, family offices, endowments, such as universities and family foundations, and sovereign funds such as the Middle East and Asia. They usually have cash that has already been raised from those sources, but some private equity groups identify the business they wish to acquire first and then raise the cash from investors. One common requirement is that they will only acquire a majority interest in the selling company, although occasionally a PEG will hold less than a majority interest. It all depends on their business model.

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Business owners are often surprised to learn how long it takes to prepare a business for sale. It's a complicated process, so we'll focus only on the highlights. This will give you an idea of why it takes so long. You might be wondering if this process applies to your type of business. If you are looking to build your personal net worth to fund your retirement with the invested sales proceeds, and, if selling for top dollar is important to you, keep reading. To help you get your bearings, this article is written from the standpoint of a Certified Exit Planning Advisor (CEPA) and business consultancy. Phase I: Determine how much you need or want to net from the sale This is the diagnostic phase where the CEPA finds out where you are now, where you wish to go, how much money it will take to get you there, and the basics about what could stand in your way, either personal or business.

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Many of our Baby Boomer clients tell us that they are hoping to sell their businesses to their employees. Here are some reasons they give: They want to reward their employees for their loyalty and service They want to protect and preserve employees and customers They want to sell “as is” with no pre-sale preparation They want to remain as employees of the new owner Let’s take a look at some of the ways you can sell to your employees that you might not have thought of:

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Many of our Baby Boomer clients tell us that they are hoping to sell their businesses to their employees. Here are some reasons they give: They want to reward their employees for their loyalty and service They want to protect and preserve employees and customers They want to sell “as is” with no pre-sale preparation They want to remain as employees of the new owner Let’s take a look at some of the ways you can sell to your employees that you might not have thought of:

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The Value Builder System Software uses an advanced algorithm that weighs dozens of different variables to determine how easy it would be to sell your business. Developed by John Warrillow, author of "Built to Sell: Creating a Business That Can Thrive Without You", this innovative software will tell you how your business would stack up if you tried to sell it today. Once you know where you stand, you can start taking the appropriate steps toward actually selling your business and walking away with the fat nest egg you’ve been dreaming about.

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It seems like we’re at a fork in the road: there are some positive signs that the economy is entering the earliest stages of a long term expansion, but at the same time, if we dare read the headlines, it seems we’re destined to repeat 2008. It’s precisely because we’re at this inflection point that we see a lot of business owners thumbing the eject button. If you’ve been thinking of selling your business, here are seven reasons to get out now:

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What business owner doesn’t want to be in control of his business, and his life for that matter. Isn’t that one of the main reasons you went into business in the first place? Having accurate financial information is the key to being in control. Financial record keeping for most business owners is a royal pain that you endure so your accountant can file your tax returns. Beyond that, correct account set up and data entry make it possible for you to determine where your company is performing well and areas that need improvement. Here is a very short list of key areas where your financials can reveal important clues:

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It Looks So Good from Where I’m Sitting Sales are up, Clients are thrilled, and vendors love you. It’s taken years, and now your business is seriously profitable. It’s the perfect time to sell. You figure you can easily fetch about $8M for your hard work. Offers will be plentiful. Well, Not So Fast… Following is a tale about what one business owner thought his business was worth, and why potential buyers--one after another--washed their hands of the opportunity to buy the business, and why the owner was shocked, confused and left vulnerable in the marketplace.

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