Are you looking for a proven path to success for your cleaning business? Learn from business coach Clay Clark and Doctor Robert Zoellner as they provide a proven path and the 20 Point Business Plan for Eco Hypoallergenic Cleaning Services in this episode of the Thrive Time business coach radio show. During this show business coach Eric Chupp also asks Doctor Zoellner and Clay about how to properly go about buying an existing business from another person.
What to Consider When Buying a Business:
Are you buying the stock or the assets?
Stock = Buying everything including the liability
Asset = You are just buying the things
FUN FACT: Earnings before tax – http://www.investopedia.com/terms/e/ebt.asp
Earnings before tax (EBT) is an indicator of a company’s financial performance, calculated as revenue minus expenses, excluding tax. EBT is a line item on a company’s income statement that shows how much the company has earned after the cost of goods sold (COGS), interest, depreciation, general and administrative expenses and other operating expenses have been subtracted from gross sales.
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I know you going to dig this broadcasting live from the center of the universe is dr. Robert zoellner with us SBA entrepreneur of the Year clay Clark. Welcome to the Thrive time show on talk radio 1170. This is cool in the topic. I showed you with the prop hunt show on your radio business coach and some crap done so in a way we go.
It’S about time business coach show on your radio and 3-2-1. Here we go Z. I enjoyed angry Tom Brady every single afternoon yelling. Let’S go my friend I’ll I’ll I’ll of the drive time show and I love hearing Tom Brady yeah. Let’S go to the bar you up as well. My friend even more is the business coach idea that in your new man cave, you know, I have an over-under bet running your kind of running back right now, the guys here at thrive on how many life-size posters of
Tom Brady or going to Adorn your man cave the Fatheads stickers, but you know life size Fatheads, you know maybe just Tom Brady mentioned. Maybe just you know, like look alikes posters, I mean all the stuff like to do. You know we have seven seas so far in the man cave 7:30 kind of subliminal messages at 7.
So far, so please and one Tom Brady reference so far, 27010 Raven! That’S what business coach you’re not done! I’M sure pretty my apology, recruitments and all your stuff and all your design you’re more of a real life Heroes. To give me one but you’re going to pay homage to the show, for the first time today show on your radio and what we do here is we provide you business school without the BS, our entire focus is answering real questions from real business owners or real Aspiring business owners just like you, and so today we’re going to business coach get into the 20-point business plan for Eco hypoallergenic cleaning services.
There’S a cleaning service company instead. Can you guys make me a business plan and a lot of people will form committees and have debates, but we actually put together the business plan for them that we know will work because you helped numerous cleaning companies grow and we’re going to get into that stack Of stuff today, but before we do that Eric chop, one of our business coaches has a hot and fresh hot today and that doctors he has no idea what business coach the question is.
So you can, I put on the hot seat, my friend whole boy, hypoallergenic, cleaning, services, real, think I might we might want to work on you getting a little sex, your name. I don’t know if they would. Let me let me think about it. Cuz, if you just threw this on me, so let me let me think about it. Let me know kind of you know. You might see my gray matter. What will shucked over here just pounding me with questions and we’ll see if we can’t come up with business coach omething?
Alright, you have a hot business coach and fresh business coach question for doctors at covenant come in okay, so I’m looking for any advice you might have for somebody. That’S going to buy a business in okay so that this scenario is a client work with up on Long Island. They are looking to buy a business from a family friend who was an older gentleman. It was a father of one of their friends. I grew up with he’s, got a profitable business he’s had their account and look at it. The money seems right just thought. I’D get your guys take when is there any?
You know things that you’ve business coach learned in the past as hell wish, I would have realized. I should have looked for that. Are there any telltale signs? I need to look for business coach when buying this business back issues and he wants to move from Long Island to Florida and now the times just hit and he’s ready to go by the end of this year and so they’re giving kind of working through this.
Okay. Can we know the category of business at 10? It is a Construction business coach Products alike, Doors door frame, they deliver them, drywall materials that deliver them to construction sites about the wholesaler. The contractor called my pay. I need 40 sheets of drywall at this project and he loves them business coach up and take them off.
And how long is a business been in business coach India not going I’m going 30 plus years wow? They look at all. The numbers have gone back in the numbers in the trans, everything’s trending. Well, tell me it’s making money. Yes, it’s making my to make it really good money actually, and so the business coach guys actually going to do that.
I’M a pretty good deal. Cuz he’s not really in it for the money he’s kind of. First of these guys has his nephews you up in his house, and their parents were friends and stuff like that from what I can tell business coach these, if he’s met with the accountants and everything everybody everything’s on the up-and-up and so any any weird things you come across In the past that you’re, like that.,
I wish I would have told me to ask about this a business coach couple things 1, I’m at the uncle and ask him his biggest competitors are sometimes business coach there’s a shift and in competition and the person getting out knows what’s happening, and So they get out before hand. So what time do business coach you go to buy a buy a business when the things that I was counsel business coach people on is to make sure that has not been some shift and competition?
That sounds like this is pretty standard construction, doors and correct and drywall and tape and mud, and all that kind of stuff that you supply business coach to the construction. People also number to make sure that sometimes it’s those relationships are really what you’re buying and to make sure that the uncle is willing to do some joint dinner.
Some joint lunches with some of this key a business coach ccounts and a handoff and bless them and give them the your the golden look. I hate these are the guys buying the business and I trust them they’re great guys and please treat them like you would treat me your that’s worth a lot, those kind of even convinced it’s his business like that when I’m just a few guys control.
Where must your money’s going your clients want me to give you an example of a business that would be a good value to buy in and one that maybe business coach wouldn’t be chat, while we’re going through these the seven specific things I would check every time was here: It is,
I would look at two years of taxes, the last two years of taxes, because a lot of times people say they’re, profitable, but they’re not, and I would say a lot Paul hoods going to be on the show later today. Paul Hood Tulsa’s, everyone CPA, Atwood CPAs, but what happens is that you look at the taxes, taxes or you’re not profitable at all or the numbers business coach don’t lie.
I would start their second is. I would look at the business coach prophet x, 2 and 1/2, like how profitable is the business as sort of a starting point for discussions, and so is a lot of businesses and see you don’t do it this way, but you actually pay yourself and you actually pay taxes, But a lot of people don’t pay themselves and there’s really squirrely of how they write stuff off and then business coach see it really. Is you don’t run your business?