Everything You Wanted To Know About Buying An Auto Body Shop
A body shop can be a great investment, if you are the right kind of buyer. Who is the right buyer? Let’s discuss that in detail. Here is what we will cover in detail.
Entries by Willard Michlin
What is Adjusted Net Income?
Depreciation and Amortization, IRS Taxes, Franchise Taxes, Interest Expense, Donations, Non-Recurring Legal Expenses or Non-essential expenses. Other Expenses, Owners Medical, Life Insurance for Owners, Pension Plan contributions for owner’s family, Non-Essential Salaries, Health insurance (owner’s family portion), Owners vehicle expenses (lease payments, operating expenses, repairs, gas, depreciation and insurance), Magazine subscriptions, Owner’s Travel, Entertainment, Home […]
Why Are You Doing Your Auto Body Shop Work for Nothing? A Battle Plan for Raising Your Rates
In my 15 years as a body shop broker, I have visited hundreds of body shops across the state. Almost 100% of the owners complain that, if they are being honest with me, they work too hard for too little money. They want to sell their body shop business to some other poor sucker who […]
Due Diligence Investigation: Just Call Me Sherlock
When buying a business one has to see what is not on the financial documents that are provided by the seller. To do that you need to graduate the Sherlock Holmes College of Observation. Mr. Holmes was famous for seeing small clues that appeared to others to be meaningless. But in truth they were the […]
How to Advertise Your Business, Save the Earth and Make Money
Making money keeping the environment green and pollutant free. It’s a win, win business.
Dual Agent or Get Your Own? A Changing, More Aggressive Business Buying Market…
Yesterday, I was reviewing a buyer’s signed purchase contract. He came to me after signing it, as his agent had said he should. His agent said he needed to hire someone to do the due diligence on the business. When I read the contract, I was shocked. It turned out, in layman’s terms; the contract […]
15 Questions You Should Ask Before Buying a Business
15 Questions you should ask before making an offer, when buying a business. Most people have questions they need answered before making an offer and before hiring help to evaluate, audit or review the business. The most commonly asked questions are as followed:
Business Ownership Pitfalls: Being an Absentee Business Owner
Business Ownership Pitfalls – Absentee Ownership Many business buyers have the idea that they will buy a small business to create a second income. The idea is to put in 10 hours a week, or less doing the management functions such as, posting the quick books, making sure the employment forms are filled out correctly […]
When Buying a Business Does the Buyer Have Ethical Responsibilities?
Choosing a Business to Buy – The Daily Grind Matters A buyer has a responsibility to act in an intelligent manner when looking for a business. You are not only buying a business for yourself but for your spouse and children. The responsibility to your family requires a higher level of care than you would normally […]
Avoiding Fraud When Buying a Franchise Business
Do You Think You Do Not Need Due Diligence When Buying a Franchise? Opening up a new franchise location can cost upwards of $250,000. This is a lot of money for a business buyer to invest in a new unproven location. New investigative reports are now stating that the selling of new franchise locations is […]
Willard Michlin, CPA, CBB, CFE
California Licensed Real Estate Broker #00529559
Certified Public Accountant (CPA) # 106752
Certified Fraud Examiner (CFE) #594927
Professional Certified Business Broker (CBB) designation
Contact Us
For Business Due Diligence, Expert Witness and Consulting Services
Kismet Business Brokers
PO Box 2734, Seal Beach, CA 90740-2734
Phone: 805-428-2063
Fax: 562-446-0575
