What kind of a scam is it?

I have a small successful little architecture/design practice, my clients come to me by word of mouth and mostly repeat corporate clients.

Why would anyone want to buy my business, would I become a slave for a period of time?

I would love to buy into successful businesses with repeat corporate clients.

I handled a lawsuit involving an architect who sold his business. The guy specialized in cancer centers. The buyer wasn't happy with sales and claimed misrepresentations about sales/value. Pain in the butt but we won. I had a good forensic accountant that shut down the case


So if you do this get a good lawyer/accountant to get your paperwork lock tight.

It's for when you get ready to retire.

It's been a while, but I think the plan was he stick around for a year or so, then yeet out.

The guy who bought it wasn't even an architect. I didn't understand the transaction from the get-go.

I think you're doing it right. That year hanging around would be a pain.

VitruvianAg said:

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What kind of a scam is it?

I have a small successful little architecture/design practice, my clients come to me by word of mouth and mostly repeat corporate clients.

Why would anyone want to buy my business, would I become a slave for a period of time?

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They are probably contacting many others, looking for a very motivated seller. Whether someone is just tired of it and wants out, or has some sudden severe health issue or become disabled, or perhaps the owner has just died and his or her family has no desire (nor the skill set) to keep it going. Pick it up for pennies on the dollar and flip it. Contact 500 and hope to get a half dozen leads.

I have one remaining business and I get contacted 2 or 3 times a month some months, then might skip a month or two and then more calls. I can generally tell they are looking for a bargain and to resell it.

Send the potential investors to the successful businessman who authored this post:

https://texags.com/forums/57/topics/3587248

VitruvianAg said:

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What kind of a scam is it?

I have a small successful little architecture/design practice, my clients come to me by word of mouth and mostly repeat corporate clients.

Why would anyone want to buy my business, would I become a slave for a period of time?

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May not be a scam. People/investment groups are looking for small businesses like yours with good cash flow. My mom sold her small CPA practice several years ago using a company out of Dallas to facilitate the sale. As part of that sale, she was on hand for a year afterwards to help the transition. She sold it to a younger couple looking to buy a practice with an existing customer base.

Sounds like it has turned out well for them. She just told me that they actually no longer take personal clients. They've evolved the practice to the point that all of their revenue comes from business clients. My mom had a mix of both.

VitruvianAg said:

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What kind of a scam is it?

I have a small successful little architecture/design practice, my clients come to me by word of mouth and mostly repeat corporate clients.

Why would anyone want to buy my business, would I become a slave for a period of time?

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I'm third generation owner in family manufacturing business approaching 80 years. I get at least a call a week asking for the owner and asking if I'm interested in selling or would be in the next 6-12 months. Some identify themselves somewhat clearly and some just as an agent of "investors" - of course my response is always the same - "everything is for sale but I seriously doubt your investors are thinking of spending the money that is the price I have in mind". That usually ends the conversation.

Tecolote said:

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VitruvianAg said:

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What kind of a scam is it?

I have a small successful little architecture/design practice, my clients come to me by word of mouth and mostly repeat corporate clients.

Why would anyone want to buy my business, would I become a slave for a period of time?

---

I'm third generation owner in family manufacturing business approaching 80 years. I get at least a call a week asking for the owner and asking if I'm interested in selling or would be in the next 6-12 months. Some identify themselves somewhat clearly and some just as an agent of "investors" - of course my response is always the same - "everything is for sale but I seriously doubt your investors are thinking of spending the money that is the price I have in mind". That usually ends the conversation.

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This is similar to my approach. I often times tell them the number we're going to sell for in 3-4 years (God willing). We're in a nice little niche, so it is possible some PE firm beats me to the evaluation.

I do at least a few minutes of research on most of the folks that email me and take 1-2 calls a month. I have no intent of an imminent exit but I've met a lot of good folks and learned a bunch as well. I view it as education for when the time to sale is here. I'd prefer to pay as much of the dumb tax now.