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The Make-up of a Successful Business Owner
By Peter C. King, CEO VR Business Brokers/Mergers & Acquisitions
With any profession, there are characteristics that allow certain people to excel in their business over others who do not possess such traits. The world of entrepreneurship is no different. There are key characteristics that allow business owners to make their companies profitable, earn the respect of their employees, and maintain success over a long period through selling their products and services. It is the reason why those owners will be able to sell their businesses for the maximum value in the long-term.  
Not that simply having these characteristics will guarantee that you will have success in your business venture; however, there is something to be said for those who have not been successful and not possessed these traits.  
Below are Some of the Typical Characteristics of a Successful Business Owner  
Advance Planning
When going into a business venture, you need to understand the product that you sell to the customers, both your customers’ and competitors’ characteristics, and to set goals for your business based on this understanding. Each stage of your business activities should be well planned out to ensure success once you begin taking action on those activities.  
Advance Organization
Once planning is complete, you need to organize the people and resources that you will need to achieve the set goals in place. This will allow the plans to be executed smoothly and efficiently. Similarly, such organization is essential to not only the startup but your entire business undertaking.  
Successful Recruiting
Your abilities as business owner will mean nothing if you do not have the best possible people there that are taking your plans and put them into action.  
How Do I Put a Value on the People in my Business?
By JoAnn Lombardi, PresidentVR Business Brokers/Mergers & Acquisitions
One corporate accountant at a company colorfully described employees as “costs walking on legs.” Though businesses want maximum efficiency from their employees for minimal cost, the actual measures of intangibles such as corporate efficiency due to employees’ capability or customers’ loyalty due to employees’ efforts are frequently overlooked as gray aspects in a black and white monitoring process. Each employees’ contribution is individually unique and different depending upon the given environment. Most of all, they cannot easily be valued according to traditional financial principles.
However, if you view employee knowledge as an “asset”, you will arrive ultimately at the role that your employees play in terms of your core competitive advantage. Additionally, some of your employees should be seen as investments instead of costs, for the long-term revenue that they will bring in once fully trained and up to speed.
Most of all, there are few credible measures that relate to people and their value. We know in detail what they cost; however, we have no balancing quantity for their value. By the time we feel that asset has been lost, it is too late to do anything about it.
Solving the Dilemma in Determining a Person’s Value
The valuation of businesses has steadily progressed over years, putting a much higher emphasis on intangible assets such as knowledge, competence, brands, and systems - known as intellectual capital.
For example, one thing that occurs following a merger or acquisition of a business are layoffs of key employees, only to hire them back when the value that they contributed is recognized. More often than not, the asset that is the most important is the least understood, least prone to measurement, and hence the least susceptible to management.
Why Buy A Refurb? 
by Neal Isaacs, Owner of VR Business Brokers Office in Raleigh, NC
If you have ever a bought refurbished products you’ve probably learned the secret that companies like Apple offer products that were once new but are now back on the market at a discount as “refurbished” models at discount. You get the same warranty but without the hassle of the sticker price so from a value perspective it’s a great opportunity.
As a business broker, I see an analogy for purchasing existing vs starting a new business or franchise. 
“Why to take the risk on location, menu, reputation, timing, brand fit… when instead you could jump in at the 3, 5, 7-year mark and buy a successful business that has all of these variables solved?”
One point of confusion for entrepreneurs in the Triangle looking to start a business is the notion of Franchise vs. privately held businesses. They are not mutually exclusive; franchise businesses can also be privately held. So the question is whether to build a new franchise, buy an existing franchise, or buy an established independent business in the Triangle.
There are great brands like Valvoline, SuperCuts, and Molly Maid looking to grow their brand with new locations, but there are just as many business opportunities like these existing independent businesses for sale. So what’s the right fit for you? Here are a few things to ask yourself if you’re considering a new franchise versus buying an established business…
Are you a cowboy? Franchises are made for people who like rules and structure. You will be buying a playbook, training, and support with a franchise and expected to follow the rules. If you’re a cowboy who doesn’t play by the rules, independent business ownership may be the right playground for you! It’s worth noting that each franchisor has their own management style and some are more controlling than others, so ask other franchisees about this when you are interviewing them.
The Art and Science of Business Appraisal – Market Data Edition 
by Shawn Hyde, Executive Director ISBA
If one spends any significant length of time studying business valuation, eventually one will come across the phrase, “art and science”. Someone will say, “Business valuation is as much an art as it is a science,” or something along those lines. When I find myself saying that phrase during the classes I teach, generally, at least one of the attendees will ask a question about the ‘art’ aspect, and ask for an example. I thought that question sounded like a good article topic for this month, so here goes…
I want to consider how one is able to incorporate some art into an analysis utilizing market data consisting of transactions of similar privately held businesses across the country.
The first step is to have compared the subject business’ operations to the industry average through comparative financial ratio analysis. The assumption of such a comparative analysis is that the industry average is a benchmark against which one can compare the subject business operations in order to identify overall strength or lack of the same.
For example, if the turnover ratios indicate the subject business is taking longer than the average to pay their bills, or to receive their accounts receivable, then the appraiser can make the correlating assumption that the business’ operating risk may be elevated as compared to the industry average.
Buy, Build, or Both? Trends in Portfolio Company M&A
Add-on acquisition activity in the United States has experienced steady, near-linear growth since the early 2000s. In 2002, add-ons accounted for 43.2% of all buyout activity. Last year, add-ons accounted for a staggering 71.7% of all buyout activity – a 65% increase in less than 20 years.
Any trend that spans two decades with the resilience to withstand multiple financial crises deserves attention and further analysis. In this article, we examine a few of the tailwinds behind the consistent growth of the buy-and-build strategy. We also feature a list of the most active Axial members and their portfolio companies pursuing add-on opportunities via the Axial platform.
Discounted Deals on the Decline
recent survey of private capital fund managers revealed that 91% of respondents expect there to be a significant hike in asset prices over the next 6 months. This sentiment comes on the heels of an already historically high EBITDA multiple environment, according to data from Bain & Company. After a year rife with uncertainty and economic volatility, investors seem more ready than ever to put their capital to work, contributing to the increase in valuations and competition. Industries such as payments, IT services, and vertical software have been especially competitive due to their insulation from the fallout of COVID-19 and recession proof characteristics. GPs have had to consistently pay up for businesses in these industries, and in turn, are doubling down on inorganic growth strategies to remain competitive.
COVID PROOF, B2B, Truck Repair Service for Sale in South Florida
COVID PROOF BUSINESS, B2B ONLY. Very profitable high-quality "commercial vehicle roadside assistance" services designed to get drivers back on the road as quickly as possible. Providing service for all South Florida. Seller is responsible for dispatching and management of accounts. The company is currently working with well-known companies such as AMAZON PRIME, TARGET, VOLVO, MCDONALDS, FLEETNET. Easily expandible by opening new routes (customers are already asking for new routes). 2021 first-quarter revenue already exceeded $286,342. Non-compete covers all of Florida.
?For more information contact: Baris Guler at baris@vrbocaraton.com.
VR Located in Waukesha, WI Sold a Niche Product Manufacturing Business for $1,500,000.
Niche product manufacturing company that included a patent process with an online software platform. This business manufactures high-quality products for the funeral home industry; allowing funeral homes to provide personalized products for their customer base. In business for over 25+ years, this business was a pioneer in introducing picture-based funeral personalization products to the funeral profession. Recognized by the United States Patent Office with a patent award for their approach and technique in creating personalized products. Both Business and Real Estate sold as a packaged deals.
Congratulations toTim Bullardfor your successful closing.
For more information contact: timb@vrbizlakes.com.
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