Jeremy Furtick

Succession Planning in the Age of Coronavirus

The current global health crisis has created unique challenges for small businesses across the nation, which seemed to hit like a tidal wave. COVID-19 has negatively impacted small business operations in an array of industries, but it has also shed light on a crucial element of running a solid business – succession planning. Succession planning is[…] The current global health crisis has created unique challenges for small businesses across the nation, which seemed to hit like a tidal wave. COVID-19 has negatively impacted small business operations in an array of industries, but it has also shed light on a crucial element of running a solid business – succession planning. Succession planning is[…]

CARES Act Impacts SBA 7(a) Loans

CARES Act Creates Significant Benefits for SBA 7(a) Loans While there are several SBA loan related provisions and benefits in the recent government actions designed to create relief to the current COVID-19 situation, one in particular – the SBA Debt Relief program – is what we’d like to focus on. CARES Act Creates Significant Benefits for SBA 7(a) Loans While there are several SBA loan related provisions and benefits in the recent government actions designed to create relief to the current COVID-19 situation, one in particular – the SBA Debt Relief program – is what we’d like to focus on.

Bookkeeping Tricks to Maximize Your Business Valuation

In my experience as a CPA assisting both buyers and sellers in the business acquisition process, as well as purchasing multiple companies myself, I have developed a unique perspective when it comes to a business valuation method. Here are some bookkeeping tips you can use to help ensure that when it comes time to sell your company, your financials[…] In my experience as a CPA assisting both buyers and sellers in the business acquisition process, as well as purchasing multiple companies myself, I have developed a unique perspective when it comes to a business valuation method. Here are some bookkeeping tips you can use to help ensure that when it comes time to sell your company, your financials[…]

2020: Trying to Time the Market

Business transaction conditions were primed in 2018 for an exciting 2019, and last year did not disappoint. Buyers were active, lenders were aggressive and valuation multiples were spiking 12 months ago as 2019 got rolling. Business transaction conditions were primed in 2018 for an exciting 2019, and last year did not disappoint. Buyers were active, lenders were aggressive and valuation multiples were spiking 12 months ago as 2019 got rolling.

Anatomy of the Asset Purchase Agreement

Whether you intend to sell or buy an existing business, odds are that your transaction will be governed by an Asset Purchase Agreement, or APA. Depending on the size and complexity of the transaction, the APA can easily run dozens of pages. Unless you make a habit of reading legal documents in your spare time, an agreement of this size can be[…] Whether you intend to sell or buy an existing business, odds are that your transaction will be governed by an Asset Purchase Agreement, or APA. Depending on the size and complexity of the transaction, the APA can easily run dozens of pages. Unless you make a habit of reading legal documents in your spare time, an agreement of this size can be[…]

4 Ways to Prepare Your Sign Company for Sale

Whether you’ve just opened your doors or you see retirement on the horizon, it is never too early to prepare your business for sale. Business owners typically pour everything into growing their businesses, and therefore don’t consider the potential value of those businesses until they are eager to head out the door. At that point, they are[…] Whether you’ve just opened your doors or you see retirement on the horizon, it is never too early to prepare your business for sale. Business owners typically pour everything into growing their businesses, and therefore don’t consider the potential value of those businesses until they are eager to head out the door. At that point, they are[…]

Seller Question #6: How do I Maintain Confidentiality When I’m Selling my Business?

Maintaining confidentiality during the process of selling your business is critical – there is simply no sugarcoating this statement. It does a business owner absolutely no good, and in fact can be potentially damaging to the business, if employees, customers, competitors or vendors find out your business is for sale. Maintaining confidentiality during the process of selling your business is critical – there is simply no sugarcoating this statement. It does a business owner absolutely no good, and in fact can be potentially damaging to the business, if employees, customers, competitors or vendors find out your business is for sale.

Seller Question #5: Why Should I Consider Seller Financing?

Generally speaking, there is an overriding negative connotation amongst business owners when it comes to the subject of carrying a note as part of a business sale. While many of the seller financing horror stories floating around the golf course and dinner party are true, when seller notes are structured properly with equitable terms, they can be[…] Generally speaking, there is an overriding negative connotation amongst business owners when it comes to the subject of carrying a note as part of a business sale. While many of the seller financing horror stories floating around the golf course and dinner party are true, when seller notes are structured properly with equitable terms, they can be[…]

Seller Question #3: What Responsibilities Will I Have After I Sell My Business?

Most business owners give a lot of thought to what they are going to do once they no longer own their companies. But with all the anticipation of retiring, traveling, spending more time with family, starting a new venture or simply slowing down, it’s easy to forget about what you’ll be doing immediately after the sale. All of those other dreams[…] Most business owners give a lot of thought to what they are going to do once they no longer own their companies. But with all the anticipation of retiring, traveling, spending more time with family, starting a new venture or simply slowing down, it’s easy to forget about what you’ll be doing immediately after the sale. All of those other dreams[…]