First National Business Corporation

Importance of maintaining good records We cannot over emphasize the importance of a business owner keeping good records on the financial performance of his or her business. Let’s explore two main reasons why this is so. Can you imagine setting out on a trip from your home city to your dream destination, perhaps for the first and only time, without having done some research as to the best possible route, mapping out the various alternatives, benchmarking certain milestones al...Continue reading

So why doesn’t every listing get sold? We go in with every intention and aspiration to list the business at the right price, gather and create marketing materials that will highlight the best aspects of both what has been done and what can yet be done with the business, we advertise across the broad spectrum that is the internet plus our own considerable database of prospective buyers, and so on and so forth. Yet deals do go south. Here is a recent example, hopefully one t...hat we learned from and perhaps offers a lesson for us all. Sometime ago we listed a very nice auto repair shop in a small but thriving nearby Missouri city. Excellent sales, top notch facility, good staff, progressive owners. We performed our standard evaluation and came up with a suggested listing price that was agreed was accurate, would obtain for the owners what they hoped for financially, and would be a deal that could be financed with support of an SBA guaranteed loan. So far, so good. We began advertising and attracted some solid buyers but perhaps not exactly the right buyer right away. We didn’t notice right away, but within a few months we realized that the accounting partner, one spouse, was not providing needed financial information in a timely fashion. He was too busy, he forgot, seemingly reasonable excuses but over time, hard to explain. We decided it was time to have a sit-down meeting and get to the root of the problem, that of not providing financial reports that would-be buyers would naturally expect and deserve to see. And this is when we discovered that this spouse really did not want to sell. He had seemed onboard from the outset but that had derived more from wanting to keep peace in the family than in a genuine desire to sell the business and put a life-changing event into action. We sidelined the listing for the time being and that is where it remains today. I think he will eventually become comfortable and welcome the change of pace that a sale would mean. I hope they have come to terms as a family with the decision to delay. The point is: everyone needs to be onboard with the decision to list and sell the business. We as brokers view the listing agreement and the underlying process as a true partnership with our clients. There are inevitable hurdles to overcome, so it is crucial everyone be on the same page. Hopefully when you decide it is time to sell your business, all the partners and husbands and wives and children (yes, we’ve had reluctant kids to deal with too), are committed to the process and the work involved. See more

CHALLENGE: Selling a business for retiring owners who also own the underlying real estate. In depth: One of our agents represented successful owners of a niche supplier of special event productions. The owners had enjoyed a long run in the business but were tired and ready to step back from the deadlines and travel that also came with success. To further complicate (but also to make things interesting!) they also owned a very large warehouse facility that housed the busine...ss but probably would not be needed by a new owner of the business, if one could be found. So we listed both the business and the real estate, we do it all the time, and began searching for the right buyer for each entity. As often happens, the owners provided us a short list of people already in the industry whom they knew and respected and whom they suggested might be the right buyers if presented a comprehensive package of what was available. We began to canvass those prospects and more, and in remarkably short order, we identified what we believed to be the perfect buyer. Local to the market, very successful in his own right. And perhaps most important, both he and the owners had mutual respect for each other right from the start. Negotiations were friendly from Day One and a deal was soon struck. As we anticipated, the buyer was not interested in the underlying real estate. So what do we do about that? Fortunately, we had recently sold two businesses to another solid buyer. Someone we knew who was needing a larger facility in the same general area of the city. Again, after a brief round of introductions and a tour of the facility, it was quickly agreed that we had a great match. Favorable financing was obtained and within 60 days we had a closing on the real estate as well. Terms were arranged for an orderly withdrawal of the seller’s furniture, fixtures and equipment, most of which was purchased by the first buyer, and the real estate buyers now had a super facility to continue the strong growth of their business. A key factor in closing both these deals was our knowledge base of who in the marketplace is looking to expand, and where. You can always say there is some luck involved and that was true here as well. But we would like to think that the expertise and extensive database we maintain had a lot to do with putting these two deals together in short order. See more

How do I really know what my business is worth? Chances are, you don’t. Although there are dozens (or more) theories on why a small or medium-sized business is worth what it is, we have a relatively simple and proven method for determining just that. Some bells and whistles, but mostly just common sense conclusions based on the identifiable owner benefits that come with owning the company. What might be gained by allowing us to perform a free business evaluation with the go...al of determining what a fair market value of your business would be in today’s market? The reason we suggest that an evaluation be performed annually is that so often we see the fortunes of a business can change imperceptibly over time. It pays to know when the business owner needs to make tough choices as well as when to capitalize on improving market conditions. The evaluation brings issues and specific items to the business owner’s attention that even competent accountants often fail to point out. If you would like to discuss an evaluation or if you ever have a question related to how FNBC might assist you in a successful sale of your business please give me a call. In the meantime visit our website and please keep our contact information. Of course if you know other business owners who might benefit from our services please our contact information along. Our company has assisted over 4000 business owners sell their businesses. We can make it happen. At the right time. For the right price.

As we complete probably the most unusual year we will ever experience, we are thankful that we have survived if not thrived in 2020. Business brokerage started off very strong in January and we have been fortunate to complete a number of transactions in spite of all the uncertainties and challenges due to Covid. We had anticipated some strange turns of events in an election year-it always happens and usually leads to some procrastination on the part of both buyers and seller...s, but Covid threw a completely different curve. Major casualties were businesses in the hospitality sector-hotels, motels, restaurants and bars and other travel and entertainment businesses. Surprisingly we sold those types of businesses too but across the board they were more difficult than usual and sellers were not able to obtain top dollar due to the uncertainty of the duration of the pandemic. We are ramping up for a good year in 2021 due to a number of factors, and will be seeking out selling opportunities immediately after we enjoy the holidays with family and friends. Keep in mind that selling a business is usually not an overnight sensation. There are a number of considerations to make in listing a business, preparing it for sale, identifying qualified buyers, negotiating terms, putting financing in place, performing due diligence and more. We are up to the task but only good, not miracle workers. We wish you happy holidays and hope that when it comes to buying or selling a business you will call on us to assist you.

How We Get The Job Done! One of the things we like best about being business brokers is the opportunity to confront challenges that are inevitable in every deal. These can range from financing, discovering hidden issues such as back taxes or environmental problems, to dealing with landlords, franchisors and more. We try to identify the obstacles that exist with each listing, but invariably something pops up that creates an extra hurdle, large or small, in the way of a succes...sful transaction. Instead of viewing these in a purely negative way, we need to approach such challenges as positives. Take the attitude that if we can overcome (fill in the blank), then the rest of the transaction will be a piece of cake. We recently listed a small, 30 unit apartment complex, well-run, profitable, and priced for a good return for whoever would prove to be the buyer. Multi-family properties happen to be in demand right now, so we were confident that we would have multiple buyers interested in this property. Sure enough, one emerged who seemed to be perfect. He already owned several multi-family properties, had a willing banker, and he knew that we had the right price for the listing price. A deal was soon struck. However, the buyer had one peculiarity to his offer. His banker and he had a twist to what would be considered the normal transaction. In fact, it called for the buyer to actually buy the property for 30 days, delay the permanent financing per the banker’s request, pay a small premium to the property owner in exchange for the admitted hassle of closing the sale but delaying the seller receiving his money for the thirty days. All of this so the banker could tender a loan for a lower interest rate to the buyer. All above board and agreed, once it was explained to the seller (along with examples of how the technique had previously been used). It was a new procedure for us but certainly plausible. And it resulted in happy seller and buyer and lender. Mission accomplished. The point being this: we are willing to consider deals that are outside the mainstream but get the job done. We will do our homework to make sure the interests of our client are served, that our customers are treated fairly, that all disclosures are made, and everyone feels like a win-win has occurred. See more

Here is an article that we originally posted in 2016. The basics and principles still apply. We thought you might find it interesting. Challenge: Selling a business for retiring owners who also own the underlying real estate. In depth: One of our agents represented successful owners of a niche supplier of special event productions. The owners had enjoyed a long run in the business but were tired and ready to step back from the deadlines and travel that al...so came with success. To further complicate (but also to make things interesting!) they also owned a very large warehouse facility that housed the business but probably would not be needed by a new owner of the business, if one could be found. So we listed both the business and the real estate, we do it all the time, and began searching for the right buyer for each entity. As often happens, the owners provided us a short list of people already in the industry whom they knew and respected and whom they suggested might be the right buyers if presented a comprehensive package of what was available. We began to canvass those prospects and more, and in remarkably short order, we identified what we believed to be the perfect buyer. Local to the market, very successful in his own right. And perhaps most important, both he and the owners had mutual respect for each other right from the start. Negotiations were friendly from Day One and a deal was soon struck. As we anticipated, the buyer was not interested in the underlying real estate. So what do we do about that? Fortunately, we had recently sold two businesses to another solid buyer. Someone we knew who was needing a larger facility in the same general area of the city. Again, after a brief round of introductions and a tour of the facility, it was quickly agreed that we had a great match. Favorable financing was obtained and within 60 days we had a closing on the real estate as well. Terms were arranged for an orderly withdrawal of the seller’s furniture, fixtures and equipment, most of which was purchased by the first buyer, and the real estate buyers now had a super facility to continue the strong growth of their business. A key factor in closing both these deals was our knowledge base of who in the marketplace is looking to expand, and where. You can always say there is some luck involved and that was true here as well. But we would like to think that the expertise and extensive database we maintain had a lot to do with putting these two deals together in short order.

First National Business Corporation of Kansas City is proud to announce the sale of the Rheinland Restaurant property at the Independence square in Independence MO. The owners of the property, Heinz and Rosie Heinzelmann, are taking a well deserved break from the restaurant business, having operated the Rheinland for many years, with thousands of satisfied and happy customers enjoying their German food recipes and beverages. Buyers of the property are Chris and Stacey Payne. They are excited to buy additional properties for their portfolio and look forward to participating in Independence business activities. Congratulations to all! The sale was handled by Tom Buckley, President and CEO of FNBC and Bill Maas of Block and Co.

First National Business Corporation is excited to announce the listing of this busy bar and grill in the Northland of Kansas City! This busy Bar and Grill hosts live entertainment several times a week and has a strong management system that doesn’t require a lot of hands on work. Pizza has become a house specialty but there are still other delicious options to choose from. This business would be ideal for someone who is looking for an easy to run Restaurant and Bar that serve...s delicious foods, and live music. Expansions can be made by utilizing a delivery system for sales of more pizza. Being such a turn key business, we do not expect this listing to last! For more information or to schedule a tour please reach out to our Kansas City office at 816-799-0911 and ask for Tom Buckley, or check out this and other businesses at www.FNBCUSA.com. See more

First National Business Corporation of Kansas City is pleased to announce the addition of our newest agent, Mike Constant! Mike will be working our of our Independence MO office, representing business owners throughout the Midwest. Mike was a small business owner in Central Kansas for over 25 years before moving to Kansas City. He has served as a business broker and as an SBA loan officer. Mike’s experience as a business owner and an SBA lender give Mike personal experien...ce in the importance of running a business with an end game in sight. As a banker, he understands what a lender looks for when analyzing a business acquisition. When you’re selling a business, a broker on your side is crucial. Mike holds a license in Real Estate and Business Broking in both Missouri and Kansas, and is excited to work with Business owners and prospective buyers across the Kansas City Metro.

First National Business Corporation is proud to announce the recent sale of DICK’S Drive Up Convenience Store in Excelsior Springs, MO. Mike O’Dell was both listing and selling agent on the store. The store was very unique for this area in it’s drive through concept, occupying a former Sonic store site on Jesse James Rd. in Excelsior. Sellers in the transaction were Andrew and Leslie Jenkins. The proud new owners are Aleen Phillips and his wife Deidre Phillips. Convenience stores, liquor stores and discount tobacco shops are in high demand in Kansas City and across the nation. If you know anyone who is interested in buying or selling-give Mike a call at 816 799 0911.

First National Business Corporation in Oklahoma is proud to announce the listing of this very well-established heating, cooling, and plumbing company! This business was established in 1980 giving 40 years or exceptional service to the surrounding area. The business owner is ready to retire but wants this business to go to someone looking to keep the business going for another 40 years! This business has a large base of repeat and loyal customers due to their timeliness, and over the top customer service. This business could be expanded by hiring more employees and ramp up the advertising. For more information on this listing please call us at 816-799-0911 and Ask for Bud Leffel or visit us at www.FNBCUSA.com and check out this branch and our other branches available listings!

Have you ever wanted to own your own bar and grill? How about one with 2 levels, great for having multiple events going at the same time! First National Business Corporation is excited to announce one of our newest listings. This spacious Bar and Grill offers 2 large bars both down stairs and upstairs large enough to entertain a plethora of guests. Upstairs homes the Restaurant where you can line this spacious area with tables and booths to make a very profitable eating spac...e. While the down stairs is perfect for a dance floor, pool or game tables, or make it a special events area that you can rent out for weddings, receptions, meetings and more! This business is located in a suburb of Kansas City in Jackson County surrounded by busy streets where your business will be easily seen, and be able to grow! Don’t miss this opportunity as it is priced to sell, and the owner is very motivated to make it happen. Get your offer ready and give us a call to learn more about this great opportunity. 866-800-0990 See more

First National Business Corporation is pleased to announce the sale of the Bunkhouse Lodge, located in Lincoln, Missouri, beautiful gateway to the Ozarks region of Missouri. Tom Buckley, owner of FNBC, was both listing and selling agent on this transaction. Sellers were Bruce and Deborah Houser, who are retiring, and buyers were Jack and Julia Wadkins from Florida. The lodge had 22 beautifully appointed rooms, all with their own unique western motif; the lodge lobby also w...as expansive and displayed many collectibles the Housers had collected through the years. We wish both the Housers and Wadkins much success in their new endeavors. If you know of anyone who is wanting to purchase or sell a business we hope you will send them our way. 866-800-0990 See more

Great article on financing a business purchase. Read and share! https://www.fnbcusa.com/post/financing-a-business-purchase

Another Business Sold! https://www.linkedin.com//urn:li:activity:6640994489282498 If you or anyone you know is considering selling their existing business, our expert brokers can ensure you get the full value out of your business. Call us today - (866) 800-0990

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Timely Dealership Opportunity As business brokers we are asked daily as to what kind of business we think someone should get into. What is hot now, where is the demand. One segment that we know is going strong and is likely to continue double digit growth is anything to do with servicing and meeting the needs of our aging population.... You have probably seen the statistics: each and every day an average of 10,000 Americans are turning 65. And with age comes the attendant health problems and adapting lifestyle to meet the challenges of advancing age. In tune with this reality is the fact that more and more seniors are doing almost anything within their power to stay in their own homes as opposed is getting placed into a retirement home setting. It is true: there is no place like home. So here is the pitch. We have recently contracted to represent a company that focuses on helping the elderly and physically challenged to stay in their home as opposed to being forced to relocate for the golden years. This company offers a free, valuable in-home assessment to seniors to advise them how to safely enjoy the luxury of staying in their home. That can come in the form of ramp and other mobility solutions. Elevators and chair lifts can be installed. Tubs and showers can be made safe and user friendly. Doorways enlarged. And fifty (or more!) other items and devices and modifications that are tailored to meet the client’s specific needs. You as the dealer are the specialist who suggests the modifications, makes sure that they are affordable and appropriate, and then contracts approved installers and technicians to make sure that every need is met. The business affords good margins, certainly a huge marketplace, and the satisfaction of knowing that you are helping a senior or other physically challenged individual maintain a pleasurable lifestyle in the comfort of their own home. The company provides complete training and an enviable list of service and product suppliers who support you with excellent pricing and quality workmanship. If you are curious and understand the dynamics of the senior market contact us to arrange a free, no-obligation interview with a company representative. We are paid by the parent company so no cost to you for checking it out. The senior market is ever-growing. We believe our client has proven that there is big money and great satisfaction from getting involved.

You learn something new everyday! One of the things we like best about being business brokers is the opportunity to confront challenges that are inevitable in every deal. These can range from financing, discovering hidden issues such as back taxes or environmental problems, to dealing with landlords, franchisors and more. We try to identify the obstacles that exist with each listing, but invariably something pops up that creates an extra hurdle, large or small, in the way of... a successful transaction. Instead of viewing these in a purely negative way, we need to approach such challenges as positives. Take the attitude that if we can overcome (fill in the blank), then the rest of the transaction will be a piece of cake. We recently listed a small, 30 unit apartment complex, well-run, profitable, and priced for a good return for whoever would prove to be the buyer. Multi-family properties happen to be in demand right now, so we were confident that we would have multiple buyers interested in this property. Sure enough, one emerged who seemed to be perfect. He already owned several multi-family properties, had a willing banker, and he knew that we had the right price for the listing price. A deal was soon struck. However, the buyer had one peculiarity to his offer. His banker and he had a twist to what would be considered the normal transaction. In fact, it called for the buyer to actually buy the property for 30 days, delay the permanent financing per the banker’s request, pay a small premium to the property owner in exchange for the admitted hassle of closing the sale but delaying the seller receiving his money for the thirty days. All of this so the banker could tender a loan for a lower interest rate to the buyer. All above board and agreed, once it was explained to the seller (along with examples of how the technique had previously been used). It was a new procedure for us but certainly plausible. And it resulted in happy seller and buyer and lender. Mission accomplished. The point being this: we are willing to consider deals that are outside the mainstream but get the job done. We will do our homework to make sure the interests of our client are served, that our customers are treated fairly, that all disclosures are made, and everyone feels like a win-win has occurred.

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Challenge: Selling a business for retiring owners who also own the underlying real estate. In depth: One of our agents represented successful owners of a niche supplier of special event productions. The owners had enjoyed a long run in the business but were tired and ready to step back from the deadlines and travel that also came with success. To further complicate (but also to make things interesting!) they also owned a very large warehouse facility that housed the busine...ss but probably would not be needed by a new owner of the business, if one could be found. So, we listed both the business and the real estate, we do it all the time, and began searching for the right buyer for each entity. As often happens, the owners provided us a short list of people already in the industry whom they knew and respected and whom they suggested might be the right buyers if presented a comprehensive package of what was available. We began to canvass those prospects and more, and in remarkably short order, we identified what we believed to be the perfect buyer. Local to the market, very successful in his own right. And perhaps most important, both he and the owners had mutual respect for each other right from the start. Negotiations were friendly from Day One and a deal was soon struck. As we anticipated, the buyer was not interested in the underlying real estate. So what do we do about that? Fortunately, we had recently sold two businesses to another solid buyer. Someone we knew who was needing a larger facility in the same general area of the city. Again, after a brief round of introductions and a tour of the facility, it was quickly agreed that we had a great match. Favorable financing was obtained and within 60 days we had a closing on the real estate as well. Terms were arranged for an orderly withdrawal of the seller’s furniture, fixtures and equipment, most of which was purchased by the first buyer, and the real estate buyers now had a super facility to continue the strong growth of their business. A key factor in closing both these deals was our knowledge base of who in the marketplace is looking to expand, and where. You can always say there is some luck involved and that was true here as well. But we would like to think that the expertise and extensive database we maintain had a lot to do with putting these two deals together in short order. Give us a call today if you are interested in learning more about what businesses might be available for you.

First National Business Corporation proudly announces the sale of yet another business, that being Schibly's Auto Service located in Sedalia, Missouri. Sellers are Jerry and Paula Dillner; the buyer is actually a group of investors who were attracted to Schilby's both for its excellent cash flow and its prime location on a major highway in Sedalia. Handling the sale for the Dillners was Tom Buckley, owner of FNBC-Kansas City. If you or someone you know is interesting in buying/selling a business, give us a call today! (866) 800-0900