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Message
re: Many Baby Boomer businesses going for sale in the next 5-10 years.
Posted on 8/1/23 at 1:46 pm to CleverUserName
Posted on 8/1/23 at 1:46 pm to CleverUserName
quote:
So you are saying there was someone who wanted the moon, someone who wanted to pay less that it’s worth… there was a negotiation… and a price was reached?
I have never heard of that happening.. ever… in the history of business. Anyone else?
What are you trying to get at? All I said was that they have delusional enterprise value assumptions. Why are you so offended by this and how much do you think your business is worth?
ETA. If someone lists their house for $500k and it sells for $175k, is it unfair to say that person had a delusional fair market value of their property? Is the delusional word what has your fee fees in a twist?
This post was edited on 8/1/23 at 1:49 pm
2
Posted on 8/1/23 at 1:47 pm to Paul Allen
quote:
Find some new material. Your shite is whack.
quote:
Paul Allen
The lack of self awareness here is rich
Posted on 8/1/23 at 1:55 pm to billjamin
quote:
What are you trying to get at? All I said was that they have delusional enterprise value assumptions. Why are you so offended by this and how much do you think your business is worth?
What I’m trying to get at is you are getting the “let’s negotiate” price.
I don’t see anyone talking about the buyer who, in turn, wants to pay less than the business is worth. Are they delusional?
That’s why there is a negotiation.
A damned fool would come in to the negotiations and price the business at exactly what all the assets are worth. You completely discount all of the goodwill. And it has goodwill or you wouldn’t want the business.
Posted on 8/1/23 at 1:58 pm to billjamin
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
not as delusional as younger people are about their worth by any measurement
lots of businesses about to start failing
Posted on 8/1/23 at 1:59 pm to CleverUserName
quote:
What I’m trying to get at is you are getting the “let’s negotiate” price.
3X FMV is not a "lets negotiate" price.
quote:
I don’t see anyone talking about the buyer who, in turn, wants to pay less than the business is worth. Are they delusional?
If they offer 1/3 FMV then yes, they are.
quote:
A damned fool would come in to the negotiations and price the business at exactly what all the assets are worth. You completely discount all of the goodwill. And it has goodwill or you wouldn’t want the business.
I'm not sure what goodwill has to do with delusional enterprise value expectations. Have you done anything like this before?
Posted on 8/1/23 at 1:59 pm to billjamin
quote:
If someone lists their house for $500k and it sells for $175k, is it unfair to say that person had a delusional fair market value of their property? Is the delusional word what has your fee fees in a twist?
If someone has it priced for 500… and it’s worth 175k…. Why is anyone giving them the time of day??
Here is the deal.. someone who owns something can list it for sale for whatever they want. They also have the right to sit there and watch the for sale sign fade because of UV rays.
Posted on 8/1/23 at 1:59 pm to financetiger38
Posted on 8/1/23 at 2:01 pm to rhar61
quote:
not as delusional as younger people are about their worth by any measurement
lots of businesses about to start failing
If baws start forcing these companies on their kids we're going to see a whole lot of cheap distressed assets hit the market. Those owner finance deals will be looking pretty sweet about then regardless of the risk.
Posted on 8/1/23 at 2:03 pm to CleverUserName
quote:
If someone has it priced for 500… and it’s worth 175k…. Why is anyone giving them the time of day??
Because their agent it out their pimping them out. In the business case it would be the investor bros they hire.
quote:
Here is the deal.. someone who owns something can list it for sale for whatever they want. They also have the right to sit there and watch the for sale sign fade because of UV rays.
Agreed. And it's ok to call them delusional when they're a couple orders of magnitude off FMV.
Posted on 8/1/23 at 2:03 pm to billjamin
quote:
I'm not sure what goodwill has to do with delusional enterprise value expectations. Have you done anything like this before?
I’m not sure why anyone is even complaining about “delusional enterprise value”. It’s their asset. They can ask whatever they damn well please.
If it’s too high… don’t even enter negotiations. Find another or start one from scratch.
It’s that simple. It’s so simple it’s stupid.
quote:
Agreed. And it's ok to call them delusional when they're a couple orders of magnitude off FMV.
Lol. I take it you have never browsed Facebook Marketplace or Craigslist. And it’s not boomers flooding those. Head there and get you that pimped out Nissan 240 with cut springs to lower. The back tires poking out with tons of tire shredding negative camber, the fart cans, and an eBay intake for 7,000 dollars.
This post was edited on 8/1/23 at 2:09 pm
Posted on 8/1/23 at 2:05 pm to CleverUserName
quote:
I’m not sure why anyone is even complaining about “delusional enterprise value”.
Where am I complaining in my orginal post? Or have you twisted yourself up so much getting offended that you forgot what I said?
quote:
Should get interesting considering how delusional a lot of them are about the value of their businesses. Reality check inbound.
I find this whole thing quite humorous and really DGAF. Definitely not enough to complain. Like I said, i get paid the same for a closed deal as a blown up deal.
This post was edited on 8/1/23 at 2:07 pm
Posted on 8/1/23 at 2:15 pm to billjamin
quote:
Where am I complaining in my orginal post?
You have complained about overpriced businesses from post one.
The stark reality is an owner of a private asset can ask what they damn well please.
There is no sense in complaining about it. Move along to the next.
Now if these people asking the moon gets a return call, you don’t think the seller knows that the buyer is very interested and going to pay over market? Buyer is screwed on the onset because the owner knows they are very interested.
What they should have done is walk. They had the right to. Just like people have the right to ask what they want.
You think I’m going to walk up to a 85 Cadillac.. ask what they want… they say 15,000 dollars. And then not walk away laughing? If you are looking for a Cadillac, and you are still there, they know you want it because you didn’t walk. So they are still going to screw you on the settled price.
This post was edited on 8/1/23 at 2:18 pm
Posted on 8/1/23 at 2:17 pm to BayouBengal23
I already seen a bunch of business owners in the same age range sell their businesses right after COVID.
Buyers were usually 1 of 2 types:
1. Buyer owned similar businesses already and were looking to expland/move into new territory and thought that they could run the new business under their old large corporate business model
2. Young turks armed with Internet or fund money who thought with their laptops and Excel spreadsheets that they could squeeze more profits out of the business by doing things their way
In every case, the sold business is doing worse under the new ownership: unhappy customers, unhappy employees, etc.
Buyers were usually 1 of 2 types:
1. Buyer owned similar businesses already and were looking to expland/move into new territory and thought that they could run the new business under their old large corporate business model
2. Young turks armed with Internet or fund money who thought with their laptops and Excel spreadsheets that they could squeeze more profits out of the business by doing things their way
In every case, the sold business is doing worse under the new ownership: unhappy customers, unhappy employees, etc.
Posted on 8/1/23 at 2:19 pm to More beer please
quote:
Just purchased a business from someone above 70. He refused to accept an official 3rd party valuation of his business because he believed it was worth much more.
The difference between FMV and investment value is a concept most don’t understand. Every boomer says it’s worth what this guy will pay for it. What you can sell it for does not necessarily equal FMV. A FMV can give a good idea of a starting point tho. By all means sell it above FMV if you can, but any buyer worth their salt will try and get a FMV on it and try to reconcile that with where you got your asking price from. Also referred to as due diligence.
This post was edited on 8/1/23 at 2:26 pm
Posted on 8/1/23 at 2:22 pm to CleverUserName
quote:
You have complained about overpriced businesses from post one.
Not at all. Like i said i think it's funny. My statement that many have a reality check coming stands.
You're apparently reading into this and getting emotional and i'm not sure why.
Posted on 8/1/23 at 2:27 pm to billjamin
quote:
Not at all. Like i said i think it's funny. My statement that many have a reality check coming stands. You're apparently reading into this and getting emotional and i'm not sure why.
Not emotional at all. I just have to break out the supply and demand graph all too often on here.
Posted on 8/1/23 at 2:33 pm to BayouBengal23
Are you being serious?
Boomers will over value their businesses by a ton.
You're better off letting them go bankrupt and buying their assets at an auction.
Boomers will over value their businesses by a ton.
You're better off letting them go bankrupt and buying their assets at an auction.
Posted on 8/1/23 at 2:34 pm to danilo
quote:
Not handing over or selling to their kids?
Kids are all youtube stars
Posted on 8/1/23 at 2:35 pm to CleverUserName
quote:
I’m not sure why anyone is even complaining about “delusional enterprise value”. It’s their asset. They can ask whatever they damn well please.
If it’s too high… don’t even enter negotiations. Find another or start one from scratch.
It’s that simple. It’s so simple it’s stupid.
There's gonna be a spinoff thread in a couple of hours from some boomer complaining that these lazy, broke millennials don't want to pay a million bucks for his residential maintenance company that has $100k worth of assets and zero contractual customers.
Posted on 8/1/23 at 2:42 pm to wadewilson
They’re paying for goodwill! My reputation!
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