Willard Michlin

Home Based Franchises - Is This the Perfect Way to go into Business? By: Willard Michlin

Last month I was at a meeting of fifty business brokers. The speaker for the day was suggesting that business brokers start recommending to their business buyers that they buy a new franchise territory rather than look at a resale business. He suggested... Read >

What You Don't Know Can Kill You By: Willard Michlin

An expert's comments on the pitfalls of buying a business and how to find them. When you are considering the purchase of a business, the normal action is to study the financial history of the company. This would include looking at the profit and loss ... Read >

Why Do You Need a Due Diligence Expert? By: Willard Michlin

95% of small business owners' time intent not to keep accurate records. This is to prevent the IRS and prospective business buyers from seeing the true condition of the company. These fibs or lies are to either understate income or profit for the IRS, o... Read >

The Risk Factor By: Willard Michlin

Business buyers rarely look at the risk factor. The risk factor being foresee: What is the probability on what is happening today economically will or will not continue into the future? As we can see from the current economic situation, things do change a... Read >

Why Do You Need Due Diligence? By: Willard Michlin

Due Diligence is a very misunderstood word to many. Some people think that due diligence is the same as an appraisal. They are totally different. Lets look of each definition. Definition of Due Diligence: The phrase is composed of two words. "Due" w... Read >

Should You Spend the Time and Money to Evaluate a Business Before Buying One? By: Willard Michlin

Everyone knows that when you buy a business you need to audit or confirm the financial status to see where the seller is fibbing or not fibbing. An appraisal of a business's worth should not be just based only on the financial status, which is usually wh... Read >

Mentoring in How to Buy a Business By: Willard Michlin

30% of all business buyers have been through the process before and therefore have learned through experience, what they should and not to do. They graduated from the very expensive but enlightening "School Of Hard Knocks." I myself learned how to becom... Read >

What are the Major Things to look for in Purchasing a Restaurant? By: Willard Michlin

It was a normal day in Los Angeles and I got a phone call from London. George has found a profitable restaurant in San Diego that he is very interested in buying. He requested that I will determine the value of the business and the validity of the repor... Read >

Fast Food Franchises

In my opinion, the hardest hit industries in these economic times are real estate agents, furniture and accessory stores, clothing stores and fast food restaurants. The first thing consumers cut out when they are on a tight budget is that expensive Starb... Read >

Coupon Books and Post Card Advertising Agencies By: Willard Michlin

One the industries that I particularly like even in bad times, is the advertising industry. These companies come in all colors and sizes. Some publish books of nothing but coupons. Others sell packets of post cards for different types of businesses. T... Read >

Company Turn Around By: Willard Michlin

The dream of many college MBAs is to go into a corporation and with great brilliance turn it around. The story of how Iaccoca after being a Ford division head, went into Chrysler and pulled it out of bankruptcy is the great story. There is an exact tec... Read >

Cellular Phone Stores - Imaginary Profits By: Willard Michlin

This is one of the most interesting industries I have ever run across. They appear to be making big profits but overnight the profits can turn into nothing. I have been asked to review and comment on a chain of stores in the San Fernando Valley. My due... Read >

Buying a New Franchise - Do You Still Need Due Diligence? By: Willard Michlin

There are over 2,500 franchise businesses for a business buyer to choose from. Some of these are very well established and can be found in every city in America or so it appears. Others are still unknown and are not well established. They are also tryin... Read >

Buying a Business - The Basics By: Willard Michlin

Buying a business in today's economic climate requires that you, the buyer, be on the ball, with regards to business basics. This economic climate, as far as businesses are concerned, is a seller's market. With the corporate downsizing, economic down... Read >

Four Easy Danger Signs that Tell You when a Business Owner is Lying By: Willard Michlin

Recently a very excited business buyer was ready to enter escrow on a Quiznos Sub located in Oxnard, California. First, the seller claimed that she had a net profit of $150,000. Because her business was so very profitable, she was demanding $450,000 f... Read >