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What is a Business Broker & How Do They Help Me Sell My Business?
What is a Commercial Business Broker? A Business Broker helps a Business Owner Sell his or her business to a Buyer. Similar to Residential Real Estate Agent, except the client/product is a business, not a house. Here are common questions we get: Question: Does a Business Broker Buy the Business from a Business Owner? Answer: No! A Business Broker packages a business for sale and markets the business to attract qualified buyers. What does a Business Broker Do for Business Owners? Prepare the … Read entire article »
Filed under: Business Tips, Business Valuation, Commercial Leasing, Due Diligence, Featured, Negotiation, Selling A Business
Shark Tank Business Valuation by the Percentages
Last in the Shark Tank was Fleetwood Hicks of Villy Customs. Fleetwood Hicks’ Villy Customs offer customized Cruiser Bikes that are incredibly colorful and well designed as attested to by Daymond John on the Show. Fleetwood Hicks was asking $500,000 for a 33% equity stake in Villy Customs ($1.5 Million Dollar Valuatio). The Sharks were thoroughly impressed, and you can see why in the pictures below. The bikes are incredibly colorful and the Sharks were … Read entire article »
Filed under: Business Tips
How to Get Your Business or Product on to ABC’s Shark Tank
Straight from ABC’s website are the instructions for getting on to the hit ABC TV show called Shark Tank: How to Apply to Get Casted on ABC’s Shark Tank. Important note is to download the application form prior to going to an open casting call. There is an Open Casting in Chicago coming up Friday May 11th, 2012 from 10 AM to 5 PM. Location of the Chicago Open Casting call is the Embassy Suites – Chicago Lakefront There is also … Read entire article »
Filed under: Business Tips
Shark Tank Negotiation & Valuation Lessons
First up on ABC’s Shark Tank on was Barbara Lampugnale of Duality Cosmetics to promote her all in one Nail Polish pack called NailPak. NailPak Nail Polish comes with a handy attached nail file and pre-soaked nail polish remover pads for easy on the go repainting of nails. This is a product that definitely seems like it would get strong interest from Lori Greiner, and it did. An upcoming update segment on Barbara Lampugnale’s NailPak will air … Read entire article »
Filed under: Business Tips
Q&A with Jeff Stroope of Hyconn LLC from ABC’s Shark Tank
Jeff Stroope of HyConn LLC: was kind enough to take the time to answer a few questions about his experience on the Shark Tank from Last Season. We see that he gets a verbal deal on the set with Mark Cuban, but the million dollar question is if he actually finalized a partnership buyout with Mark Cuban after all was said and done: Q: How long was the time you actually spent on the set with the Sharks … Read entire article »
Filed under: Business Opportunity For Sale
Why James of Vino Di Copa was Right (Not Wrong) to Turn down the offers from the Shark Tank
There was a lot of negative commentary against James Martin of Copa Di Vino on twitter and even on the Copa Di Vino facebook page. The main sentiment among the negative commentary was that James Martin of Copa Di Vino “blew” his second chance in his repeat appearance on the set of Shark Tank. But, do the numbers agree that he blew his chance? First we’ll break down the numbers, and then describe how it played out. So let’s break this down in order of presentation on the … Read entire article »
Filed under: Business Tips, Business Valuation
Business Valuation includes Debt On Shark Tank
Making a return appearance on the Set of Shark Tank was James Martin of Copa Di Vino. He appeared on the Show in the previous season and turned down an offer from Kevin O’Leary which was for $600,000 in exchange for 51% equity. The reason James Martin turned the offer down the first time was that he was interested in growing Copa Di Vino Brand, whereas Kevin O’Leary was only interested in licensing the Single … Read entire article »
Filed under: Business Tips, Business Valuation
Q&A with Gary DeJohn of Vinamor Wine Aerator – Shark Tank
For those that are curious about the Vinamor Wine Aerator that was featured on ABC’s Shark Tank, we present a Q&A interview with owner Gary DeJohn. Just Elementary: What kind of research about the Sharks did you do before you got to the set to present your pitch? Did you know which Sharks were going to be on the set? Vinamor: Yes, They let me know ahead of time which Sharks I would be pitching to. Just Elementary: When did you … Read entire article »
Filed under: Business Tips
Business Valuations and Knowing Your Numbers on Shark Tank
First up on the Shark was Nick Romero of The Ave. Nick Romero was asking $125,000 for 15% equity ($833,333 Valuation) for The Ave, which is a concept that is operated out of a retail location in Venice California. The Ave offers customers the ability to customize apparel. In the segment, customized shoes were highlighted, which required a special platen that Nick Romero had a patent pending for at the time of taping. Being that the … Read entire article »
Filed under: Business Tips
Q&A with Melissa Kiernan of Last Lid as Seen on ABC’s Shark Tank
Melissa Kiernan of Last Lid was Kind enough to take some time to answer questions about their experience on The Shark Tank Set, and how it has affected their business since the experience. Just Elementary: How long did it take to finalize an arrangement with Daymond John in writing? Last Lid: When we got back from shooting we heard from Daymond personally about a month after. Our agreement was finalized 3 months later. Just Elementary: Was there a lot of back … Read entire article »
Filed under: Business Tips
Each Percentage Counts for More than it sounds like – Shark Tank Business Valuation Lessons
Third up on the Shark Tank was Gary DeJohn of Vinamor Wine Aerator. Gary DeJohn was asking for $75,000 in exchange for 30% equity ($250,000 Valuation). At the time of taping Gary DeJohn had sold approximately 1,000 unit. The Vinamor Wine Aerator is a great wine aerating product that can be conveniently used in restaurants to quickly aerate a newly opened bottle of wine, which increases the customers’ enjoyment of the wine. This is a win-win … Read entire article »
Filed under: Business Tips, Business Valuation
Shark Tank Business Lessons
First up in the Shark Tank was the Profender by Tony Devine, who was asking for $75,000 in exchange for 15% equity (Which is a $500,000 Valuation). The Profender is a basketball training tool to help shooters simulate game situations where a defender is closing out on them to contest the shot. The way this is currently done in most training situation is by having assistant coaches use brooms to extend their reach while basketball players … Read entire article »
Filed under: Business Tips
Rent A Grandma Franchise Question and Answer with Todd Pliss
Todd Pliss, the Franchisor of Rent A Grandma was kind enough to answer some question about the business just before the episode of Shark Tank featuring him and his business was due to air on ABC. Just Elementary: Rent A Grandma has been written up in articles from the Christian Science Monitor, ABC News, Entrepreneur Magazine, Hispanic Business, to NPR. How has the publicity from them benefitted the business? Were there any surprises to people’s reactions from those … Read entire article »
Filed under: Franchises
Why Business Valuations are not as simple as One Formula Fits all
Dallas Robinson and Mike Buonomo of Kisstix were the first pair up on Shark Tank. They were on the show to pitch their product which is a mix and match lip balm that creates a fun tingly flavor experience for kissing couples. Dallas Robinson and Mike Buonomo were asking for a $1,000,000 valuation for Kisstix by offering 20% equity for $200,000. Given that Gross Revenues were about $80,000 Kevin O’Leary asked how Dallas Robinson and Mike Buonomo came up with their … Read entire article »
Filed under: Business Tips, Business Valuation
Negotiation Clinic by Lori Greiner on ABC’s Shark Tank
The final segment of Shark Tank had one of the the most interesting negotiation session in Shark Tank History. It had Lori Greiner at her Negotiating Best. Rick Hopper of ReadeREST, which you can find on Amazon. ReadeREST is strong stainless steel clip that sticks to a shirt because a backing strip featuring neodynium magnets. Hopper was asking for $1,000,000 Valuation ($150,000 for 15% equity) The ReadeREST product demonstrated really well, as Hopper intentionally fell … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Shark Tank Tricky Business Valuations & Profit Margins
First up on ABC’s Shark Tank is Last Lid (@LastLid). The proprietors of Last Lid are Melissa and Kevin Kiernan of Waldwick New Jersey. Their product is a fabric lid that covers outdoor garbage cans, and prevents them from being tampered with by animals. The Kiernans have a problem where their garbage cans are frequently tipped over by raccoons and other foraging animals. After finding no suitable replacement at local hardware stores, the Kiernan’s developed their product. … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Leverage is Key to Winning Negotiations Shark Tank
Having the leverage in a business negotiation is fleeting, and needs to be leveraged before it is lost. That was a key lesson in this episode. First up in the show was Ivory Tennelle from Irvine, California. Ivory Tennelle is the creator of the the Swilt. The Swilt is a combination Hoodie Sweatshirt with a fold up blanket portion. When the blanket is folded up, it looks like a baggy sweatshirt. With the blanket unfolded, Mark … Read entire article »
Filed under: Business Tips, Business Valuation, Negotiation
Leveraging Multiple Offers in Negotiation & Valuation Lessons on ABC’s Shark Tank
First up in the Shark and a great example of negotiation leverage spawned from Multiple Offers is Travis Perry. Perry is the owner of ChordBuddy, an innovative training product that is like training wheels for learning the Guitar. You can buy ChordBuddy on Amazon. As Travis Perry points out, playing the guitar has a real high ‘cool’ factor, to which Robert Herjavec identifies with, and is commensurately excited. The Sharks ask Travis Perry about the sales figures for … Read entire article »
Filed under: Business Valuation, Negotiation
Shark Tank Keeping Your Cool During Negotiation
Last up in the Shark Tank was Donny McCall of Invisa-A-Rack (@InvisARack). Invisa-A-Rack is an innovative product that is used on pickup trucks to help organize and haul additional cargo. You can find Invisa-A-Rack on Amazon. The genius of the product is that the racks can fold away and be out of sight, letting the truck not look like a cargo vehicle when desired in less than a minute. This is a product that makes a lot … Read entire article »
Filed under: Business Tips, Negotiation
Former La Salsa Space in Irvine for Lease
The former La Salsa Restaurant Space in the City of Irvine, California is for lease. It is located at the Commons Plaza, just off the 405 freeway and Irvine Center Drive. This particular unit is the end cap unit and has exclusive patio seating for additional ambient dining capacity. Hood is intact, with a walk in cooler. This is ideal for a conversion to another concept or brand with much less work to do when … Read entire article »
Filed under: Commercial Leasing
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