–SINCE 1982–

New Year’s Resolutions for Entrepreneurs


December 2020
Featured Clients this issue:
**Details of each client below article
– B2B HVAC Contractor with Real Estate #1620
– “Off The Grid” Holistic Forestry Services #0720
– Top-Rated Fitness Franchise in Great Location #0619

New Year’s Resolutions for Entrepreneurs

As we head into the Holiday Season, human psychology kicks in and we start making resolutions for the new year, 2021. On a personal basis, that may include vacations, home projects, or something more life changing like changing jobs, or moving to another city. If you are an entrepreneur, you might be planning to expand your business or perhaps you are considering selling your business. This month’s article is going to address some resolutions for the business owner considering a sale, although some of the suggestions certainly apply to those entrepreneurs looking to improve the operations and value of a business that may not go on the market for a couple of years or longer.
  • Look at your business through the eyes of a buyer. Do you have an appropriate management team? Is your equipment and technology up to date? Does your business make a good first impression when people call, come to your facility, or visit your website?
  • Work with your advisory team, which should consist of your accountant/tax advisor, a business transfer attorney, and a business intermediary to advise you on the sale process. It is critical that your financial statements are timely and accurate, particularly in today’s environment when lenders have tightened up their underwriting scrutiny.
  • Update or document your processes and procedures. Well documented processes and procedures can add value and the lack of good documentation can kill a transaction or diminish value.
  • Mitigate customer concentration. Neither buyers or lenders like customer concentration as it increases risk in the event that the significant customer leaves or goes out of business. A rule of thumb is that no customer should account for ten percent or more of sales or gross profits.
  • Update or develop a business plan. You may have a clear vision of what you want your business to be and where you want to take it, but sharing that vision can be challenging. Having a written business plan will differentiate your business from other businesses on the market and make your business more valuable.

The team at The FBB Group, Ltd. wishes you and yours a pleasant and safe holiday season. We give thanks to our clients, our customers, and the professionals that have been referring our services for over thirty-eight years.

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Ronald V. Chernak
Inspiring business relationships since 1982!
B2B HVAC Contractor with Real Estate #0620
This B2B specialty construction business was established over 25 years ago and through the decades built long standing relationships with many large commercial clients across diverse industries including telecommunications, aerospace, and property management. This business has thrived through 2020 despite COVID. Management believes that this recession-resistant segment of the economy will likely continue to see strong growth. By leveraging the company’s great reputation, this business would make a great additional location for an existing HVAC company or provide a good foundation for a new entrepreneur as a platform business to build upon. The owners are willing to train in the transition and make introductions to both clients and subcontractors as necessary.
  • Purchase Price (Business)…$695,000
  • Purchase Price (Real Estate)…$1,250,000
  • Down Payment…$300,000
  • Gross Sales…$2,058,317
  • SDE…$388,035
For more information contact Rob Amerine,
“Off The Grid” Holistic Forestry Services #0720
Founded in 1994, Greenleaf Forestry and Wood Products, Inc (GFWP) grew from Lankford Foresters, Inc. which began in 1975. This holistic business model, unique to the forestry and wood products industries industry, continues to thrive. GFWP’s great reputation continues to drive business even with recent COVID-19 restriction, customer orders are increasing as more homeowners focus on home improvement projects and commercial orders continue. With very modest sales/marketing efforts, hundreds of repeat clients across the nation support GFWP. GFWP has a diversified and solid foundation with many integrated growth avenues ranging from tree nursery services, forest health, and fire mitigation to custom milling and specialty wood product manufacturing. The owner started working in the forestry industry over 45 years ago and has incorporated his many decades of experience into GFWP’s integrated and sustainable products and services. He has a fully trained team of 3 employees daily operating the sawmill at the Westcliffe campus and a part-time contractor at the leased Black Forest division. The Westcliffe campus (approx. 80 acres) is for sale along with all business assets, existing buildings, nursery, and operating equipment. The owner is ready to retire and is willing to fully train the new owner for up to 2-3 years after closing (negotiable as part of transition).
  • Purchase Price Business…TBS
  • Purchase Price Real Estate…$500,000
  • Gross Sales…$394,667
  • SDE…$100,314
For more information contact Rob Amerine,

Top-Rated Fitness Franchise in Great Location #0619
This well-branded and highly rated franchise successfully navigated COVID and proved itself as a survivor in one of the fastest growing counties in Colorado. The owner has done the hard work including a custom build out, hiring a well-trained staff, and growing its memberships to a profitable level. While two of the nearby national competitors closed down due to COVID, the national franchise wisely did not charge members in April and May and so when the gym could open back up active memberships further increased demonstrating the business is here to stay with the clear support of the surrounding community. An industry buyer or health conscience entrepreneur can now capitalize on this opportunity and further realize the rising profits from this monthly recurring revenue business. The owner and staff take pride in the friendly and clean atmosphere intentionally built to attract new members in the area for years to come. The owner has a full-time military career and is currently stationed out of state. This franchise is approved in the SBA Franchise Directory and is already pre-qualified by SBA lenders.
  • Purchase Price…$395,000
  • Down Payment…$80,000
  • Gross Sales…$301,979
  • SDE…$78,738
For more information contact Rob Amerine,
**Terms & Definitions
TBS (To be suggested by Purchaser) – Seller, in his/her sole discretion, has the right to accept or reject all offers.
Seller’s Discretionary Earnings (SDE): A term used to denote a business’s cash flow or the amount of pretax money a buyer can expect to earn in first-year operations.
EBITDA (Earnings Before Interest, Taxes, Depreciation & Amortization): All interest, tax, depreciation and amortization entries in the Income Statement are reversed out from the bottom line Net Income (It purports to measure cash earnings without accrual accounting, canceling tax-jurisdiction effects, and canceling the effects of different capital structures.)
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