Ep 80: Opportunities That COVID-19 Brings to the Business Field
Why Is Now a Great Time to Buy a Business?
ndy and Jessica welcome you to the first live episode. Today you will hear about the opportunities that the pandemic is bringing to the business world. We have been through crises before, and there always have been ways in which the economy is stimulated. When these difficult times pass you will have wish you have bought a business now. Listen to this episode for a deep understanding of how is the process of buying and selling a business and why it is now a great moment to buy a business.
Listing of the week: Michael Shea (Central Florida). 30 years lighting distribution wholesale company which also does installation. Working all over Florida. Family-run business. The business is making $3.4 million in sales, $600,000 cashflow. Call Michael at (321) 287-0349 or email mike@tworld.comor visit tworld.com/michaelshea
[3:36] Buying a business is not an easy process.
[4:18] Buying a business is more secure than having a job.
[5:34] To buy a business you need to get a team together.
[6:17] Sellers might be extra motivated now.
[6:27] Why is now a good time to buy a business?
[7:12] Take advantage of the current buyer’s market.
[8:59] There is still a lot of money on the street.
[9:42] How is the government injecting money into the system?
[15:25] Baby Boomer businesses are entering the market.
[19:12] There is going to be reduced competition.
[22:18] There will be commercial real state space.
[24:41] Uncertainty can be good.
[25:02] Jessica and Andy answer the listeners’ questions.
[31:30] There will be uniques structures in seller financing.
[32:25] It is never easy to get an SBA loan.
[33:44] People sell for personal issues, not financial ones.
[39:09] Buying an e-commerce business.
[42:54] If you are a buyer right now, get in touch with a broker.
[45:19] Deal of the week: Tony Khoury (Greenville). A 20-year business owned by a couple wanting to retire, seafood processing plant located on the coast of North Carolina, manufacturing plant, wholesales and retail operation, and restaurant. Listing price: $2.95 million. Sold at $50,000 more than the asking price. Seller financing with low-interest rates. Call Tony Khoury (252) 347-9606 or email tkhoury@tworld.com
[49:45] Listing of the week: Michael Shea (Central Florida) 30 years lighting distribution wholesale company which also does installation. Working all over Florida. Family run business. The business is making $3.4 million in sales, $600,000 cashflow. Call Michael Shea to (321) 287-0349 or email mike@tworld.com or visit tworld.com/michaelshea