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Thinking of Owning Your Own Business? You have
spent years commanding and leading others. Now it's time to command
and lead your own business.
Never has there been A MORE opportune time to
a buy an established business. Military commanders retiring from
active service have the security of their military pension to venture
into new business-related opportunities without the worry of "paying
the mortgage".
Likewise, your youth and experience allows you to transfer
your commanding experience to management experience. Use
the emergence of e-technologies to take an existing business into
new markets and territories.
So what's required if you're thinking of buying a business:
your first step is to have along your side a business advisor who
can help you find and select the right opportunity.
The Novars Group Approach
It's called finding the right
business: some buyers have a definite idea of
the type of business they need. Many other buyers don't have a
clue. Most Buyers have never bought into or own a business, and
a few of them have a solid understanding of what they want or
what they are getting themselves into.
Meeting with a Novars Group advisor can help answer questions
about business ownership. We offer first-hand knowledge of business
transfer, business start-up, and success management. Our profile
analysis will help you pick the right business and role.
It's called finding a business
that is profitable and affordable: how much profit
do you need from a business to cover your operating margins and
basic needs? Any acquisition should meet your minimum financial
needs.
Most retiring military commanders have the security of their
pension to support their basic needs. But your cash position from
a business must return enough money to pay the acquisition costs
of financing your purchase, provide working capital for operations
and expansion, and give yourself a cushion for emergency and other
unforeseen events ... plus add a little extra to your overall
salary.
We work with individual buyers analyzing the cash position of
a business acquisition. Our formula of success allows you to make
decisions that provide comfort.
It's called avoid paying above
the market value: one of the biggest concerns
when taking over a business is paying too much for it. Even a
good business buy may take years of hardwork to recover your investment
-- excess capital that would be better spent on expansion and
streamlining.
Look for the seller to show you a professionally prepared "independent"
business market valuation report. Review the report with your
advisor. Analyze the numbers against your financial objectives
prior to making an offer.
Remember that unless you have a Finders Agreement with a Business
Broker, he/she will be representing the interests of the Seller.
Our pledge to you is to always represent a business fairly. But
our advice (as should be the advice of any broker you work with)
is to seek independent advice on your review and decisions.
It's called not having any surprises: do your
homework on the business and on the industry prior to making a
buy commitment. Know what will be expected of you as the new owner.
Be sure you can afford the business, the down-payment, the financing
costs and the time commitment.
Our Business Buying Commitment
The Novars Group model ensures that the business information
on your target business is prepared and well organized. You will
have ready access to all information so that you can make an informed
buying decision.
Regardless of who you are working with, you should always require
the following:
- Insist on seeing income tax and sales tax returns for the
last few years. Match these returns to the business financial
statements.
- Be very careful when the seller tells you that he shows a
low income because he takes cash from the register. Even if
this is true you should never pay a premium for a business based
on this. Only pay for things you can verify.
- Many small business owners minimize their income tax effect
on profit by writing-off everything they can. The business broker
should re-cast the business financials to reflect its true underlying
performance. Be sure that any reconstructed financial statements
are fully reconcilable to the actual statements and tax returns.
We personally interview each buyer to determine their commitment
to the actual purchase of a business. We will coach them on financing,
due diligence, placing an offer, closing, and other processes
of buying a business.
Our objective is to match the buyer to their business of interest.
We want to ensure that the potential transfer is the right one
for the buyer and seller.
Let's begin by calling: 703-319-1565
or complete
this confidential profile on your interest and needs
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