Last week’s nugget discussed warning signs that can alert you to avoid buying a turkey. This week we will reverse that and identify positive signals that should attract you to a target. Some are tangible and obvious. Others are not. A few of these positive signals are listed below:
- An owner who is “all in” to the business, working long and steady hours;
- Consistent sales, profits and return of equity over an extended period of time;
- Low employee turnover;
- A large customer base, with no one or two customers making up a great portion of sales;
- Corporate record books in good shape; and
- A positive culture among the workforce – you know it when you see it.
These are but a few of the green signals that should encourage you to proceed to go and to use maximum efforts to acquire your target.
ABOUT GLENN D. SOLOMON
Glenn D. Solomon Esq., is a principal at the law firm of Offit Kurman and has provided counsel to businesses and business owners for more than twenty-five years, with extensive experience in the purchase and sale of businesses, structuring ownership agreements, and advising companies in financial distress.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With 120 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eight offices serve individual and corporate clients in the Maryland, Delaware, New Jersey, and Northern Virginia markets, as well as the Washington DC, Baltimore, Philadelphia, and New York City metropolitan areas. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
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