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  • doug@Guy2Go2Consulting.com

Advice

Taxes are always a dreaded word in small business.  I always advise business owners to pay what is due to the IRS.  This is especially true when selling a business.  It will give you many times the reward versus short changing the government.  As an Executive Business Broker with Transworld Business Advisors in Orlando, Florida, I recently had a client that “buried” in his Cost of Goods, Balance sheet distributions and overall expenses a little over one hundred thousand dollars. In reality, he could have gotten $750,000 for his business when it sold, but based on what he showed on his tax returns, he ended up selling for less than $400,000.  Looking back, he wished that he would have paid Uncle Sam and enjoyed the fruits of his hard earn work.

I meet with a lot of potential buyers that want to buy a business, but do not have the necessary funds to make the purchase or have sufficient working capital to keep the business up and operational for at least two years.  You must plan ahead and ask a knowledgeable business consultant for advice on this topic.
For my clients, I am glad to put together projections of “funds necessary” before any contracts are signed or businesses are put into play.  It takes up to two years to get a new business up and running to a place of profitability.  When buying an existing business, expect sales to drop off up to 20% during your first year of ownership.  This is usually caused by a new business owner’s lack of knowledge in the industry and in general a lack of customer and vendor relationships that have taken the current owner years to build.

 
I also provide advice on the number of employees that a business should have on their payroll.  So often, I find that a business will have up to double the amount of employees that are needed to run the day to day.  This can also “kill” the profits!

 
Cost of Goods is also a hot button for my review especially on food related businesses.  Many times the business owner will not know what their food cost should be.  Based on my many years of business ownership and time as an Executive Business Advisor, I can easily formulate what the true cost of goods for maximum profitability should be.  I am here to help!

 
These are the benefits that I will bring to the table. For a minimal fee, I will help you at every turn and GUARANTEE that you will increase your profits!