Category: Business Consulting

Buy A Franchise – Sport Nutrition Centers

American's invest $16 billion dollars in sports nutrition & weight loss supplements a year and is growing 6 to 7% annually. Needless to say, health and fitness is now a huge industry and shows every sign of continued growth. A notable segment of the American public now understands the value of staying healthy and living longer and more productively. We stand ready to help Americans achieve their goal!

Who constitutes our customer base? 90% are mostly normal everyday people who desire to get into shape. Women now constitute 42% of that base. The smaller 10% are people looking to build more muscle and do it well. High school athletes needing to increase more muscle and endurance athletes of all ages come to us, looking to increase lean muscle mass and lose the fat. Our products are highly nutritious, easily digestible, easy to take, flavorful and pack the needed punch!

This franchise opportunity is devoted exclusively to that market, through single unit, multi-unit or regional territories. Our franchisees offer clients information, motivation, guidance, knowledge and supplemental products. While this is a retail store operation, our hours are typically 10am to 6pm, low number of employees, wide margins, an upbeat, forward-thinking clientele and a chance to help people improve their own health and fitness. Our stores are low overhead and low maintenance with no food preparation!

Franchisees can own and operate one or more stores and owners can hire managers to create more passive involvement. Larger, regional territories are available for qualified candidates.

Our ideal candidate would be someone with a strong desire and willingness to build a successful retail business and a strong belief in health, fitness and nutrition. Strong people skills are helpful as a willingness to market, network and promote business in the community is key.

Buy A Fitness Franchise Open 24 Hours A Day

Today more than ever, people know it's important to be fit. Their challenge is squeezing exercise into busy lives.

This franchise opportunity provides the solution, bringing fast, convenient and affordable workouts into their neighborhoods – minutes from their doorstep – with your own compact, 24-hour state-of-the-art fitness center.

Fitness is in. The percentage of people belonging to health clubs has doubled over the past 20 years. More growth is expected, fueled by an aging Baby Boomer generation in search of eternal youth and the reality that regular exercise can prevent or control diseases that are driving health care cost relentlessly upward.

Economically, the industry has proven to be recession-proof, averaging an 8% annual growth rate since the early 1990's. The health club industry's fastest-growing segment is the so-called 24-hour express fitness segment – and we are the segment's growth rate leader.

Our concept enables you to offer the same quality equipment and workout experience offered in traditional 'big box' health clubs – but without the crowded parking lots, long waiting lines and inflated monthly dues. Our member-friendly policies lead the industry – we do not require contracts: members pay month-to-month and may freeze their memberships when not using them.

Role of Franchisee:
This business model is developed and designed for the 'hands-off' franchisee. (10-15 hours). 75% of all owners continue jobs or careers they were in before ownership. Most franchisees start with 3 or 6 club developments, with stores run by one full-time manager. Our franchisees are attracted to the freedom and flexibility that the manager run business provides with few employees.

Please go here to find out more information on the purchase of this Fitness, Fitness Gym opportunity!

Ten Steps to the Successful Sale of a Business

1. Make sure you have a valid reason for selling your business. The first thing a prospective buyer will want to know is the reason you are selling. The more valid the reason you offer, the more serious the buyer will be.

2. Don't wait until you have to sell, for either economic or emotional reasons. You don't want anxiety to force you into accepting a deal that's not good for you or for the buyer.

3. Once you have made the decision to sell–and before talking to your business broker–you should gather the information needed to market and subsequently sell your business. Here's the list of key items:

  • Three years profit and loss statements
  • Federal income tax returns for the business
  • List of fixtures and equipment
  • The lease and any lease-related documents
  • Copy of the franchise agreements (if applicable)
  • List of loans against the business with amounts and payment schedule
  • Copies of any equipment leases
  • An approximate amount of the inventory on hand
  • Names of outside advisors

 

4. Remember that you are part of the marketing team. Your business broker can't do it all–and might even ask you to come to an office meeting to tell the rest of the staff about your business. Follow your broker's advice about dealing with prospective buyers–there's a right and a wrong time to meet them.

5. Confidentiality works both ways. The broker will constantly stress confidentiality to the customers to whom he or she shows your business. However, as the seller, you must maintain confidentiality about a pending sale in your day-to-day business activities.

6. You, as the seller, should put yourself in a prospective buyer's position. The next time you go to your place of business, pretend you are a buyer looking at it for the first time. How impressed are you?

7. Just because you are selling, now is not the time to let the business slip. It's important that prospective buyers see your business at its best; bustling, and showing no signs of neglect.

8. Engage an outside professional who understands the sales process. If you are going to use a lawyer, use one who is seasoned in the business sale process.

9. Be flexible! You need to keep the ball rolling once an offer has been presented. Study it closely. Just because you didn't get your asking price, the offer may have other points that will offset it, such as higher payments or interest, a consulting agreement, more cash than you anticipated or a buyer that you are comfortable with.

10. Remember that most successful transactions are successful because they create a win-win situation for everyone involved.

How Do I Sell My Business?

By: Art Lennig, CBI, BCI Murphy Business & Financial Corporation – Georgia, Inc.

Part I: The Advisory Team

How do I sell my business? This is a question that many business owners ask themselves. What do I do? Where do I start? What do I need? What is my business worth? How do I compete against the many businesses for sale? Great questions, but where do I get the answers? I wish I could say there are simple solutions but there are none. Selling a business is an art, not an exact science. It takes time and patience. Pricing is critical – too high and nobody will look at it, too low and everyone will wonder – “What’s wrong?”. The goal is to maximize the value of the business yet sell the business for a fair price that works for both the seller and the buyer.

There are many things that a business owner should be concerned with when they have a business to sell:

  • Confidentiality
  • Tax liability
  • Sharing of information
  • Liabilities
  • and on and on.

 

How do we protect ourselves against these concerns?
Whenever a business owner wants to sell their business, they should assemble an advisory team. This team should consist of: The Owner, The Spouse, Business Broker, CPA, Attorney, Financial Planner. Let’s take and discuss each one and the purpose and experience each needs to bring.

The Owner, Spouse, and other family members – These should be obvious, however many times the owner does not include the spouse and family members in the decision-making process until the end only to find out that not all are agreeable to the sale.

Business Broker – This is the most critical member of the advisory team. The business broker is the quarterback, the general contractor, the facilitator, etc. Their role is multifaceted: Consistently communicate with the owner and spouse as to what is happening with the listing and also what is happening in the market. The Broker should gather all the documents that will be presented to the Buyer. These documents will vary by each business but in most cases will include; Tax Returns, Financial Statements, Lease, List of Assets included in the business sale, List of Assets NOT included in the Business Sale, and more. A professional Broker will want all the information at the beginning of the conversation to make an assessment of your business.

Many Brokers recommend or require a third party business valuation. This is done to determine the fair market value of the business, give you a planning tool to discuss with your CPA and Financial Planner, and also a tool for the Broker to use with those Buyers who want to buy a business during the negotiations. The Broker will (or should) put together a “Package” about the business which at some point will be presented to the Buyer. Professional Brokers prepare these packages and include all the information the Buyer will need to know. Unfortunately the less than professional Brokers do not prepare much more than a cover sheet (with little information) and a tax return. There are two different approaches here: The professional approach is to thoroughly educate the Buyer before bringing the Buyer to the business. The less than Professional Broker uses the “spaghetti theory” – keep parading people through the business in the hope that something will happen. The Professional Broker only brings qualified serious buyers to the business. They do not want to waste the owner’s time with buyers that are not ready to buy. Yes, the better Brokers do require some money before listing the business. This money is usually required to cover the costs of the valuations and other expenses the Broker incurs upfront.

The CPA – This person is critical to the advisory team. This is not always the owner’s CPA as they must be knowledgeable in Business Sales. You want someone that understands the business transfer process, can look at your financial information and provide you with the necessary advice in order to accomplish the sale. Many times the CPA will advise against the sale because it is the “safest” advice he can give. You must use a CPA that has experience in Business Transfers. Once you have the Business Valuation done, you will want to discuss it with the CPA. You want to know where you will be (How much money you will receive) after taxes.

The Attorney – Similar to the CPA, this advisor must have experience in Business Transfers. You do not want the attorney that drew up your will or handled your divorce. An experienced business attorney will protect you through the closing process yet get the deal done.

Financial Planner – This is your Financial Planner. After you have discussed the tax liability with the CPA, you now want to meet with your Financial Planner to discuss the possibility of your being able to live the life style you desire after the business sale. It is most critical that you know this before you ever list your business for sale.

If you would like us to contact you about selling your business, click here: https://murphybusiness.com/georgia/contact-us

Interested in Franchising?

Have you ever wanted to own your own business? Is your company downsizing? Do you dread Monday morning and going to work at a job you are less than happy with?

If you answered yes to any of these questions, it may be time to consider starting your own business. Franchising might be the easiest way for you to do that.

Franchising can offer you training, on-going support and a proven, successful way to manage your business. Those are the top two reasons the lending institutions are more likely to loan you money to start a new franchise business as opposed to buying an existing business. With franchising, you do not need to have a 10 – 15-year background in whatever category you decide to pursue. In fact, most franchisors prefer that you have no background in their industry because you are easier to train “their” way.

If you look around while driving, you will see nearly every strip mall is filled with new franchises. There are plenty of opportunities to get started. As National Director of Franchising for Murphy Business and Financial, we have over 100 preferred franchises, most of which the franchise fee is below $50,000, plus many more opportunities for service-based franchises.

Here are some franchise facts for you to consider. It just might be the right time to change your life and work for yourself Monday morning.

Franchise Facts

  • Franchising is responsible for more than $800 Billion in U.S. sales annually
  • 1 in 12 business establishments is a franchise
  • A new franchise opens every 8 minutes of every business day
  • More than 8 Million people are employed by franchise businesses
  • According to the U.S. Commerce Department, fewer than 5% of Franchises were terminated on an annual basis
  • In a study conducted by Arthur Anderson & Company of 366 franchised companies, nearly 97% were still in business
  • In contrast, a study by the U.S. Small Business Administration revealed that 62.2% of all new businesses failed within their first 6 years of operation

 

Who Buys Franchises?

  • Cash Available: Under $120,000
  • Average Income: $65K – $150K
  • Average Age: 35 – 50 Years Old
  • Gender/Couple: Males, Couples, Females in that order
  • Owned a Business?: No, most have not
  • Work Experience: Corporate

 

If you are interested in doing your own due diligence regarding specific franchise opportunities in franchising, go here. Our national network of brokers can assist you in your investigation.

Buy A Franchise – Quick Oil Change

This franchise is your entrance into a rock-solid industry that has exploding consumer demand. Its services provide customers with a complete, convenient, preventative fluid maintenance program for their motor vehicles. Their range of services have increased and changed over time as they have adapted not only to the changes in today's cars and trucks, but also to their customers changing needs and desires.

Every car owner needs their oil changed and with more demands on Americans' time, the increase in population growth and stringent government regulations on used oil disposal, the demand for do-it-for-me quick oil changes has increased significantly. Each home has between 1 to 4 or more drivers with vehicles and each of these cars needs its oil changed an average of 3.7 times a year.

You don't need to be an automobile mechanic to own and operate an oil change franchise. And…you don't need to change your customers' oil either. Your success will be in properly managing your business and you are taught everything you need to know in order to run a successful location or locations. This is the beauty of a franchise…we teach you how to grow your business and to recruit, train, motivate and manage your employees. The initial investment is small and just may be the perfect business for you. Consumer demand is high. We have a non-perishable inventory and everyone needs automotive maintenance. We have developed a proven system, producing successful quick oil change franchises for over 25 years!

All products are purchased directly from suppliers with no added cost. We negotiate prices and pass them directly to franchisees to reduce cost of goods and our labor costs are the lowest in the industry.

Our business succeeds because an owner can train and motivate young technicians and can demonstrate excellent customers services skills day in and day out. A recent survey shows that 'customer service skills' is by far the number one attribute of a great store. Normal business skills combined with a passion for excellence is necessary for success.

If this opportunity intrigues you and you feel your skill set matches this great opportunity, go here to check us out as an Automotive, Auto Quick Lube franchise!

When Buying or Selling – Attorneys should be Deal-Friendly & Sale-Wise

Whether you are buying or selling a business, your legal counsel can make or break the deal. It is important that you emphasize to your attorney that you want the sale to go through. In many instances, the sale of the business fails to close because the attorney for one side or the other makes too many demands of the other side. Certainly, you want your attorney to protect your interests, but not to the point where the demands are so strenuous that the other party or his or her counsel balks. If your attorney understands that you really want to buy–or sell, as the case may be–he or she will be less apt to make outrageous requirements or demands. Below are some things to consider when dealing with your attorney in the buying or selling process.

  • The Both Parties should understand just what is being sold–and purchased
  • The corporate records should be current and complete
  • The seller should have available the current insurance policies and the names of the insurance agents involved

 

If there is more than one owner, there should be a designated spokesperson representing the group. This authorization for one of the owners (or stockholders) to represent the business should be in writing and signed by all of the owners.

  • The buyer and the seller must both have the same understanding of the sale and its terms. Too often, they each have their own perception of the deal. Each party to the sale must understand just what the deal is and who is getting what, or the sale may be doomed before it starts.

 

To help prevent wrecked deals, good communication between all of the parties involved is a priority. Unless they are told, outside advisors may not realize how much the buyer and the seller want to consummate the sale. The attorney needs to know from the client that this is a serious-minded transaction and that, unless something completely unanticipated is discovered, his or her job is to pull the deal together. Too often what happens is that after the offer is signed and everyone appears to be in agreement, the ball gets dropped. Everybody assumes that everybody else is following through and that all is fine. The attorney for one side or the other attempts to push on an issue that is, normally, not particularly important–and suddenly, what was once a simple transaction now falls apart. Unfortunately, the attorney thinks he or she knows what is best for the client and draws paperwork or demands something without even discussing it with their client. The damage is done, the other side gets angry, and another sale "bites the dust."

The use of a professional business broker can, in many cases, alleviate this problem. The business broker–having been through the process many times, usually much more often than any of the attorney's involved–knows the pitfalls. However, it is important that the parties to a sale are operating on the same wavelength and have the same understanding of the sale.

How To Retain Key Employees During the M&A Process

STAYING POWER
Nothing can turn a sweet M&A deal sour faster than a key employee leaving the company before the transaction is final. This kind of loss can reduce a company’s selling price, hinder integration plans, turn a star executive into a formidable competitor and even shut down a deal altogether. But bonus plans and other incentives can motivate key employees to stay and help reduce the odds that this common M&A mishap will happen to you.

AN OFFER THEY CAN’T REFUSE
Companies increasingly are using bonus plans to retain vital staff through transitions and help motivate continued productivity after a merger. Common bonuses include:

Retention. These “stay” bonuses typically are offered by the selling company to retain experienced and knowledgeable staff during the integration process. They usually are provided to executives but can also be used to retain other key employees, such as top salespeople or key product developers, who add value to an M&A deal.

Most retention bonuses are awarded as a percentage of salary or a lump sum amount. But they may also take the form of:

  • Stock or stock options,
  • Flexible working hours or extra vacation time,
  • A change in responsibility, workflow or assignments, or
  • A better severance package if the employee will be employed for only a limited time.

 

Retention bonuses typically are offered to between 5% and 10% of the employees of the overall company or division being acquired.
Project completion. This type of bonus is offered to employees assigned to specific projects that are usually short-term (between three to six months). The bonuses may constitute 5% to 20% of an employee’s total compensation for work on the project. Companies might base the payout for this type of bonus on the importance of an individual’s role in the project, its successful completion and possibly the customer’s satisfaction.

Management by objectives (MBO). MBO bonuses are offered by employers to enable the successful completion of internal projects that might otherwise be neglected or overlooked as staff focuses on merger integration. Employees might receive a list of specific tasks, deliverables, due dates and dollar value for completing each assignment based on the company’s priorities. These bonuses are built into employees’ overall compensation plans, with dollar value buckets from which quarterly project assignments are made.

Assigned tasks should be able to be completed by the employee with minimal help from co-workers. Otherwise, it may be difficult to determine how much of the task was completed by the employee assigned – which could lead to disagreements, even a lawsuit.

Gainsharing. Companies wanting to jumpstart synergies following a merger might consider this bonus program in which individual employees or teams are rewarded for determining and implementing cost-savings plans. Gain-sharing bonuses can include profit-sharing and restricted stock plans – all of which tie compensation to the company’s growth and profits.

COMMITTING TO THE FUTURE
Before you offer an employee a retention bonus, be sure to thoroughly assess the individual’s performance and productivity to ensure he or she is worth the financial commitment and really is essential to the successful execution of your M&A deal. Also, make sure that the employee is invested in the future of the company and willing to stay on board.

Paying bonuses in installments gives employees an incentive to remain as long as you need them. But you also may want to consider asking employees to sign agreements that bind them to your company for a specified time period. Clarifying their roles and performance expectations and ensuring that changes in compensation policies and processes, bonus arrangements, benefits and share schemes don’t affect them adversely will also help you retain key staff.

Not all employees receive retention bonuses, but it’s still important to reassure the rank-and-file workers that they’re part of the team and crucial to the future success of the new organization. Early communication about the deal is essential, including the rationale behind your decision to award certain employees bonuses. A management representative – possibly from your human resources department – should be available to answer questions and address concerns about the merger and its implications.

GET AN EARLY START
There is no simple formula for establishing an effective retention bonus plan. So, start thinking early in the sale process about how you’ll keep your experienced and knowledgeable team members in place. The ill-timed loss of even one key employee could mean the difference between a successful deal and one that falls apart before you reach the finish line.

ONE SIZE DOESN'T FIT ALL
You’ll likely find that a bonus plan is just part of a larger strategy to entice key employees to stay – one that also includes a good working environment, feedback and praise, and new challenges.

It’s also important to ask employees what they want and prepare to be flexible in what you offer them. One employee may want an employment contract with a one-time bonus structured to prevent an undue tax burden. Another may prefer a bonus in the form of a defined benefit plan that is funded with after-tax dollars and later can be rolled over into the employee’s 401(k) or IRA. Other employees may be satisfied with nonfinancial incentives such as vacation time, a reduced schedule or the option to telecommute.

Buy A Franchise – Factoring and Accounts Receivable Funding

A franchise-factoring company provides funding to small and medium-sized clients. Factoring is the funding of B2B accounts receivables. It's a finance business similar to banking where clients are provided with cash, based on creditworthy receivables verified with the clients' customers.

If your clients are selling products or services to their customers and offering terms of 30 days, or even longer, as a factoring franchisee you can provide immediate financing and ease the capital crunch.

Theses are some of the financing solutions provided to clients as per Franchisor:

1. Accounts Receivable Financing
Typically referred at as "factoring", AR Financing is neither equity nor debt, yet strengthens a balance sheet – and control of the business always stays with the owner. It is a trusted and effective method of both financing short-term cash-flow and outsourcing the administration of credit and the task of arduous collections.

Factoring is a time-honored financing solution that offers many advantages while allowing business owners to focus on operating and building their client base. As opposed to banks, for instance, flexible underwriting is offered. We don't require the lengthy process, personal credit score, business history and restrictive covenants necessary for traditional debt.

We support start-ups and high growth businesses, as well as businesses recovering from financial difficulties. Our ability to fund and service your business can keep up with the demands of growth without having to re-qualify you for a larger loan and charge any subsequent fees.
Your balance sheet remains strong, most importantly. Because we actually purchase the invoice from you and do not take an equity position, you incur no debt and keep control of your own business.

Additionally, we provide a thorough credit analysis on all potential and existing customers so that you can make an informed decision on extending credit, thereby minimizing the risk of bad debt.

2. Purchase Order Financing
Purchase Order Financing is the perfect solution for short-term funding requirements. It can be used to finance the purchase or the manufacturing of specific goods that have already been sold. We enable this process by issuing letters of credit or providing funds that allow our clients to secure the inventory they need to fill their open sales orders.

Through purchase order financing, we also support both domestic and international transactions, and clients enjoy the working capital needed to grow sales and take advantage of profitable opportunities that are larger than they can otherwise support. We are not a bank and are not bound by the restrictions necessary for traditional lending products. Our focus is the underlying transaction and its economic and commercial viability.

Purchase Order Financing is used by manufacturers, distributors, importers and exporters. It can be used for payments to third-party suppliers for goods, issuing Letters of Credit, and for making payments for direct labor, raw materials and other directly related expenses.

Our clients consider Purchase Order Financing if they lack either sufficient capital or international expertise to complete their transaction. With respect to the latter, they might prefer to reduce foreign risk and in some cases protect the identity of their manufacturer from the end customer. In all cases, however, they appreciate the speed of funding, preservation of equity and increased profits at the end of the day.

3. International Factoring
This form of financing gives business owners the ability to offer open credit terms to foreign buyers who they would normally not be able or feel comfortable selling to without a traditional deposit. Because we fund the invoice upfront and take on the risk, business owners can now increase their foreign sales freely while improving their cash flow.

Foreign receivables are usually underserved assets. Domestic banks or lenders typically consider foreign receivables to be ineligible and do not feel comfortable providing capital availability against these foreign receivables. We lend against foreign receivables, giving the business owner more capital to grow the business and pay expenses.

As business owners and operators, we understand selling to international customers is a huge opportunity, but difficult to manage financially. There are certainly common issues to deal with and we offer you support in this regard.

As the Franchisor, we provide most of the back-office services required, check customer's credit, do all the collections and will fund our Principals up to six times their committed capital!

This is a home-based opportunity with no employees, no inventory, ideal for a professional looking to replace six-figure income. If you are an experienced business executive or professional person looking for a successful career where your past business accruement and networking skills can be used to build a high-income business go here and look in the Financial Related, Factoring Company category.