Posted in Buyers Articles, Sellers Articles, Visa/Immigration

This United States is a country of immigrants. Our foundation was built on the backs of the small business owners who came to this country to give their families a chance at a better life. While today’s anti-immigration news climate might seem to impede the path of those living abroad who have a desire to move to the United States – it doesn’t mean you can’t get here. The entrepreneurial American dream is still very much alive and well.

The United States allows several pathways for those who would like to come here and invest in a business – because those businesses help to strengthen the American economy and create jobs.

One of these pathways is by way of the E2 Visa.

An E2 Visa is an option worth considering if you are a foreign buyer because it allows a non-immigrant investor to come to the U.S. with their spouse and children to live and work so long as they invest in a business that qualifies for E2 status. There are rules to consider, such as whether or not the country where you hold citizenship will allow you to qualify for this type of Visa, but those answers can easily be found by checking the Department of Homeland Security U.S. Citizen and Immigration Services website, found here:

http://www.uscis.gov/working-united-states/temporary-workers/e-2-treaty-investors

or by asking a qualified business broker who has experience with the E2 Visa process (like us!).

If you are a business seller, then this type of Visa could potentially be very important to you as well. If your business qualifies for E2 status, then you will be opening your business listing to a huge market of investor buyers who are looking for a way to come the the United States.

If you haven’t heard of getting your business qualified for the E2, don’t be surprised – there are not many brokers who are experienced in this type of transaction, and many falsely believe that throwing a Visa into the mix will slow a transaction down. While a Visa does add a few more steps (mostly on the buyer side of the table), in most cases the process will only be delayed by a few weeks – and quite frankly we have had more deals held up by the sellers themselves than we ever have by consulates evaluating E2 status.

If you think the E2 might be your path to entrepreneurship in the United States, don’t delay. There are great businesses for sale that currently meet the E2 requirements. If you haven’t asked about qualifying your business for the E2 Visa, please do by contacting us today! The more buyers who see you business as a potential investment opportunity, the better – so why limit yourself to only local and national buyers? Get your small business on the international scene and you will have a great chance of finding the right buyer.

For more information about the E2 Visa process, please also visit our sister site,

http://e2visa.com/

Are you a foreign buyer who is interested in the option to buy a business in the States with the E2? Are you a seller who wants to know if your business would qualify? Please feel free to leave any questions or comments here and we would be happy to help!

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

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Posted in Buyers Articles

It’s a question we get asked all the time. Why do you need to know my personal information for the NDA (Non-Disclosure Agreement)? 

Sharing personal information can be difficult, especially with a person you have likely never met and only know via conversations on the phone. 

Guess what? When you begin your foray into the purchase of a business, you will need to come to a level of comfort with sharing your personal information. 

For starters, a business broker will need your full legal name, permanent physical address and email (if not more) before they can send you a non-disclosure agreement to sign. The NDA protects the business from disclosure – of its for-sale status, of its proprietary information and its confidential financial documents to name a few. 

To gain access to such a large amount of information a prospective business buyer only needs to offer up the paltry pieces of information listed above – like their name, address and email. 

Why? It’s simple. The NDA only works if it can be linked to a specific person. There might be hundreds of men named John Smith in a particular city, but there is only one John Smith who lives at a particular address, has a particular phone number and a specific email. 

Many first-time buyers balk at providing their personal information for the NDA, but the reality is you are going to have to get used to sharing your personal information if you want business sellers to share possibly proprietary or confidential information about their businesses with you. The NDA is only the first, and the least intrusive, of the documentation that will be required during the process of buying a business. Down the line you will need proof of your finances for both the seller and your new commercial landlord, you may need to pass a background check and get fingerprinted for certain types of business licensing, you will possibly need to supply a history of your education and work experience, etc.

While it might from the outset seem intrusive, consider the view from the other side of the negotiating table. A business seller has to share everything about their business with you, so asking for some identification as to who you are at the outset isn’t that much of a stretch.

The point here is, while uncomfortable, sharing your personal information is going to be a large part of the business buying process – so the sooner you get used to that fact, the better. 

Are you considering buying a business, but aren’t sure you want to share your personal information? Would you like to know more about how your information will be used or shared? Ask us! Feel free to leave any questions or comments and we would be happy to help. 

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

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Posted in Sellers Articles

We all know the importance of an online presence in our digital world, but what many business owners may not consider is what the lack of an online presence can do to the possible future sale of their business.

Why would a lack of an online presence hurt a business sale? Consider the view from the other side.

You are looking for a business to buy, a good investment. You find two nearly identical businesses for sale – similar numbers, similar industries and similar locations. One business has a poorly maintained Facebook page that appears to have been nothing more than an afterthought. The second business has a visually appealing and highly informative website.  

As an investor, which business appears to be more sound? Which one appears to have a more attentive and growth-driven owner? Which business looks like it would be favored by potential new customers?

The answers to these questions are easy. The business with the better (or any) website, right?

You no longer have to be an IT expert to give your business a decent web presence. There are a multitude of web design services like Wix or Squarespace that allow you to use simple templates and drag-and-drop features to make your own website from scratch. There is also the option of hiring a website designer, although this will be more expensive than a do-it-yourself version. Either way, your business will have a web presence that speaks to a level of professionalism that a Facebook page (or no online presence at all) could never do.

Ok, I get that I need a website, but what should I include? A good business website has the name, address, phone number, email and other necessary contact information that is easy to find. You should also include information about the products or services your business offers, your hours of operation, menus or product lists and any other helpful information that you would want your customers to know. How are you different from the competition? How will your services or products help?

By having a visually appealing and highly informative website in place before you list your business for sale you will be giving buyers a great first impression. You will also be telling prospective buyers you are a business owner who is interested in the growth and future of the business you’ve built – far better than the perception that you are a business owner who is behind the times.

Are you a business owner who is thinking about selling but don’t have a web presence to speak of? Would you like to know more about what buyers look for in a business? Please feel free to leave any questions or comments here and we would be happy to help.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

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Posted in Become a Business Owner, Buyers Articles

Pop culture mythology is full of entrepreneurial unicorns – these semi-urban myth creatures who start a tech company and 6 months later sell it for millions or billions of dollars. Many hopeful budding entrepreneurs see these news snippets and falsely believe that entrepreneurship, if done the “right” way, can make them fabulously wealthy in no time at all.

If you are considering a career as an entrepreneur, you will essentially doom yourself to failure if you think the world of business ownership is quick or easy. It just isn’t.

Believing you can enter business ownership and suddenly vault yourself into fabulous wealth is a dangerous way to enter a reality where hard work and perseverance are the only keys to success.

Want the cold, hard truth of entrepreneurial unicorn stories?

Owning a business is tough.

If you own a business, the buck stops with you. Even in a larger business with a management structure and many employees – you are ultimately responsible for the success or failure of your business. Business owners work long hours, can have high levels of stress and don’t always make tons of money (especially in the first few years). You need to accept that becoming the master of your own destiny by working for yourself means you need to have the drive and grit to get the job done.

You probably won’t get fabulously wealthy.

We all know the names of the entrepreneurial NFL quarterbacks like Zuckerberg and Jobs – but just like the chances of any high school football player making it to the starting lineup on Super Bowl Sunday, most entrepreneurs don’t become billionaires. This is not to say, however, that you wouldn’t make a good living owning your own business. If you work hard you can absolutely make a decent amount of money and have a good quality of life. Keeping yourself grounded in financial reality will keep you eye on the right goal – growing your business – instead of chasing an impossible scenario.

Owning a business can be very, very rewarding.

Even though entrepreneurship is tough and probably won’t make you a multimillionaire, the benefits and rewards of owning your own business make the journey completely worth the effort. Owning your own business means you get to be your own boss. It means every dollar you make, you’ve made for yourself and not someone else. It means you have the flexibility to set your own schedule. It means you get to be the master of your own destiny. It means you get to wake up every morning and do something your love to do. The benefits far outweigh the effort it takes. Just head into the world of business ownership firmly grounded with realistic (and non-unicorn) expectations and you have a far better chance of success.

Are you thinking about becoming a business owner and have questions about how much money you can make when you own a business? Would you like to know what types of businesses are currently for sale in your area? Ask us! Please feel free to leave us any comments or questions and we would be happy to help.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

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Posted in Become a Business Owner, Buyers Articles

Although unfortunate, it does happen. Business buyers get their hands on a profitable business and within six months they are calling us to sell because they are literally days away from complete and utter failure – like having to lock the doors and walk away.

How does this happen?

There are four big mistakes that can cause you to pull the rug right out from under your own feet, but they can easily be avoided if you know what they are and apply some common sense to your new venture.

Spending All Of Your Cash

You might have $100,000 to spend on a business, but that doesn’t mean that you should be shopping for businesses that are listed for $100,000. Buying a business and launching yourself into business ownership is an expensive adventure, and you will need to reserve enough of your capital to keep yourself in the black long enough to get the business generating a profit with you at the helm. You will need cash for licensing fees, for your new commercial lease, for inventory and payroll in your first few weeks as owner – only to name a few. When deciding what you can and can’t afford, be honest with your business broker about the money you have available and they can better assist you with finding a business that will reserve some of your cash.

Ignoring Red Tape

Yes, bureaucracy is annoying. Licensing requirements are confusing, expensive and time-consuming – but that doesn’t mean that you can skate around the requirements. You need to be sure that you are operating your business in accordance with the licensing requirements of your industry, state, county and city. If you aren’t, it is only a matter of time before you are caught – and the consequences can be devastating (think the loss of a liquor license or major fines and penalties, for example). Pay attention to the red tape.

Coasting Too Early (Or Ever)

You found a great little business, and from day one you were lucky enough to be pulling a profit, so you take your foot off the gas and let the business essentially run itself. This always ends in disaster. Think about why this business was great in the first place. The former owner worked incredibly hard to maintain what worked and continually focused on the future growth of the business. That simple formula, always maintaining and growing your business, is the key to success. Owners that stop trying always stop succeeding.

Changing Everything

You bought a profitable restaurant, but you hate everything about it. The decor is dated, the equipment isn’t the top of the line and the menu doesn’t appeal to your vision of restaurant ownership. You spend your first six months of ownership completely gutting the kitchen and dining room, a massively expensive renovation. Then you come up with an entirely new menu that is a huge divergence from what the restaurant used to serve. While you are at it, you also change vendors and essentially every operating procedure. After all of this massive upheaval, you are shocked that you can’t get customers in the door and that all of your staff jumped ship. Where did everybody go? The old phrase “if it ain’t broke, don’t fix it” goes a long way in explaining this most expensive of mistakes. The restaurant in this example was successful because it had a regular clientele who loved the menu and quaint decor and a happy staff who were good at their jobs. New owners who change things before they give themselves the time to understand why certain aspects of the business work (or why they don’t work) are setting themselves up for failure. A new owner is far better off following in the footsteps of the prior owner until they are sure the changes they want to make are changes that will actually improve the business, not hurt it.

If you are looking at businesses to buy – be aware that you need to be careful of too many changes, you need to keep the business growing, you need to stay on top of red-tape issues and you need to be careful with your cash if you want to be successful.

Are you in the business market and are curious about what businesses you could afford with the cash you have available? Do you have more questions about how to avoid the pitfalls we talked about here? Ask us! Leave any questions or comments here and we would be happy to help.

Michael Monnot

941.518.7138
Mike@InfinityBusinessBrokers.com
12995 South Cleveland Avenue, Suite 249
Fort Myers, FL 33907

www.InfinityBusinessBrokers.com

No Comments »