Chris Bond - Surviving the Founder is A Key to Business Transfer (L1017)

Chris Bond of Murphy Business Financial Corp. discusses a recent business sale and the common needs of businesses to “survive” the founder to transfer successfully.

Transcript: 

Chris: Surviving the exit of the founder or the operators, that’s the biggest key, and every client project I work on is heavily weighted toward good will, so the value is often in the name, the brand, the phone number, the web address, and a lot of what the founder or operator has built. So, it’s difficult to transfer that. I’ve got a deal right now, a signed purchase and sale agreement, all ducks in a row, all pieces negotiated, lawyers have done their parts, the one snag is: final piece of financing for the buyer, and getting [...]