John is a successful cross-functional executive with experience in leading and strengthening finance, accounting, and operations organizations. He has held various executive roles, including CFO, VP of Supply Chain and Planning, and EVP of Finance and Operations, during his 17-year career. In these roles, John was an integral part of the leadership team that scaled a medical device company and sold it to a private equity firm for $161 million. He led integration efforts and participated in due diligence for all the company's acquisitions.
John began his career with the accounting firm Ernst and Young in Atlanta, GA, and has worked with both startups and a large, private equity-owned medical device manufacturer. He leverages his extensive mergers and acquisitions experience to help entrepreneurs successfully transition business ownership.
John graduated from the University of Georgia with a Bachelor of Business Administration in Accounting and holds a Master of Business Administration from Kennesaw State University. He currently lives in Marietta with his wife and two daughters.
Seth is a seasoned executive with an impressive track record of success, having held Vice President and Director positions across diverse industries. He has a wealth of experience in sales and understands the importance of building strong relationships and working collaboratively to achieve outstanding results. Seth is a skilled consultant, having helped companies of all sizes boost sales, streamline processes, and improve their bottom line. Notably, he played a crucial role in the mergers and acquisitions strategies for one of the nation's largest medical retailers.
Graduating from the University of Georgia with a Bachelor of Business Administration in Management, Seth has gone on to become a Certified Exit Planning Advisor (CEPA®) and holds a real estate license in Texas. Throughout his 20-year career, he has consistently been recognized for his achievements, receiving the highest rankings for his exceptional work.
Seth is a devoted family man and lives with his wife and two daughters in the Dallas/Fort Worth area. When he's not at work, he's active in his local church, where he volunteers his time and serves as the executive committee chair for finance.
Carl is an entrepreneur at heart. He was the third-generation owner of a wedding services provider with 14 locations and 200 employees. Carl led the effort to sell the 50 year-old business in a private equity roll-up of the industry, and his first-hand experience gives him an unparalleled understanding of what it’s like for a business owner to bring their company to market and negotiate a successful exit.
Carl is also an Adjunct Professor in the Executive MBA program at the University of Georgia and serves on the Board of the Shore Entrepreneurship Center at Kennesaw State University. He is the Founder of Brio Business Academy, dedicated to guiding business owners as they launch and grow their business. He is passionate about education because he believes that business owners make better decisions when they know how and why things work (or don’t!).
Carl graduated from the University of Notre Dame, and holds an MA from the University of Chicago, an MBA from the University of Georgia, and an M.Ed from the University of Loyola. He and his wife live in Dunwoody and have two sons that attend the Georgia Institute of Technology.
According to the International Business Brokers Association survey of business brokers an estimated 70% of all businesses will never hit the market for sale. And of those that are listed for sale, only 50% will actually be sold. Here are the seven reasons why businesses are unsellable:
1. Customer Concentration.
If any one customer accounts for more than 30% of annual income, then it’s likely you will have troubles selling your business. The risk of losing that much income from one customer is just too high for most buyers. Furthermore, the underwriters and the internal policy makers of commercial banks will likely not approve a loan under these circumstances. A diverse base of loyal customers creates an ideal situation for selling a business.
2. Poor Bookkeeping.
Starting with the business valuation through the due diligence and then to the closing having accurate books and records are absolutely essential. The basic information required to successfully sell a business includes tax returns, profit and loss statements, and a list of assets being sold. In addition, you may be asked to provide payroll reports, depreciation schedules, employee manuals, list of contracts, documentation of licensing, and much more.
3. Deferred Maintenance.
It is not uncommon for business owners to put off replacing aging equipment, machinery, or vehicles in a well-established business. Pushing these necessary capital expenditures into the future is a great way to preserve cash. But it may not be a great strategy for growing a company or maximizing the value of the business. Eventually, the business owner will have to invest money in replacing or upgrading these assets. If it is left to the buyer, then the business value will likely be discounted.
4. Dependence on the Owner.
The most sellable businesses are ones that are not dependent on the owner. Business owners should find ways to work themselves out of a job. This may require changing business processes, implementing new technology, or hiring additional employees to do the work of the owner. Relationships with customers and vendors should extend beyond the owner to include other employees.
5. Declining Sales and Profits.
There are very few buyers that are looking to acquire a distressed business. People buying businesses want to see a return on their investment. They want to know the business is scalable and that there is a positive upside. It is not uncommon for a business owner to experience burn out and lose their motivation to grow the business. The business may also subject to market forces they cannot control. Timing the sale of the business is the key.
6. Market Forces.
What are market forces? Anything that can impact the supply or demand for a product or service. These include social, economic, technological, political, demographic, or competitive forces that change and shape the way small business compete in the marketplace. For example, changes in the interest rate will impact potential buyers and their ability to borrow money to purchase businesses. Or let’s say a new technology is introduced that eliminates the need for a particular service.
7. License Restrictions.
There are numerous industries, trades, and jobs that require specific licensing in order to provide a product or service. This could be anyone from a plumber to a doctor. Because of licensing restrictions, the number of potential buyers for your business may be significantly reduced to only those people who have the proper licensing. There creative ways to “get around” the licensing issues.