Peter C. King, CEO

In today’s world, businesses must prepare for natural disasters by developing a comprehensive disaster plan that addresses personnel, operations, and communication. Assemble a dedicated team to assess risks and prioritize critical functions, ensuring staff involvement for commitment. The plan should be simple, flexible, and encompass key areas such as employee contacts, alternative premises, and resource management to ensure swift recovery…

A spin-off can benefit companies facing challenges by allowing them to divest underperforming units, raise cash, and focus on core operations. Spin-offs come in various forms, such as pure or partial, and involve crucial preparatory stages, including regulatory compliance. Reasons for spin-offs range from improving credit ratings and strategic positioning to enhancing market value for undervalued divisions. Proper structuring can…

Regular monthly business analyses are essential for maintaining accurate records and assessing financial health, including accounts payables and receivables. For potential sale, it's crucial to have organized profit and loss statements (P&Ls) showing true profits by removing personal and non-deductible expenses. Maintaining comprehensive records of inventory and assets, including leased items, can prevent misunderstandings during a sale. Good bookkeeping reflects…

Deciding between purchasing a private business or a franchise is crucial when starting a new venture. Franchises offer structured business models with corporate support but require adherence to specific standards. The process includes initial interviews, financial qualifications, and reviewing the Franchise Disclosure Document (FDD) for terms and legal conditions. Engaging with current franchisees for insights and visiting the franchisor’s office…

An intermediary, as defined by Google, is a mediator facilitating agreements between parties. In the business brokerage field, professionals prefer this term to elevate their industry's image and distance from negative connotations associated with "broker." Intermediaries assist in valuing businesses, advertising sales, interviewing potential buyers, negotiating, and finalizing transactions. VR exemplifies "Valued Representation," offering extensive training through its VR Master…

Business owners typically include a salary for themselves, but care must be taken regarding family payroll inclusion and their actual roles. Discretionary expenses, like travel and personal-related costs, aren’t critical to operations and must be clarified by the seller, whereas non-recurring expenses are one-time costs. Non-cash expenses reflect depreciation or amortization, and the final Discretionary Cash figure is calculated by…

The term “Settle on the Court House Steps” reflects a troubling reality in the legal system, where attorneys prioritize their billing goals over clients' interests. Many clients mistakenly believe that last-minute settlements demonstrate their attorney’s hard work for justice. However, attorneys often pressure clients to settle to maximize billable hours, while judges benefit from less workload. Awareness of these practices…

Federal antitrust laws focus on preventing acquisitions that could increase a company's market power, allowing them to raise prices or limit production without competition. Horizontal acquisitions, involving competitors, raise the most concerns, especially in concentrated markets, while vertical acquisitions are less problematic. Agencies like the DOJ and FTC can block or review such acquisitions, particularly under the Hart-Scott-Rodino Act. The…

After years of building your business, you may now contemplate selling as life evolves, with new priorities emerging. Advantages of selling include the potential for a lucrative deal, the chance to retain involvement post-sale, and the opportunity to diversify your assets. However, be mindful of drawbacks like price fluctuations during the lengthy sale process and restrictive non-compete clauses. Consulting a…