AboutRobert Doblmeier, M.Sc. Expertise I am happy to answer questions about Small Business Sales i.e. Small businesses with Gross Sales in the 250K to 50 million dollar range. The business must be privately or closely held(no publicly traded companies).
Experience Why me? I am a full time business broker with a 14-year history in real estate in New York and Florida. I taught the New York State Licensing course for 2 1/2 years. I am the winner of VRs’ Prestigious Bronze Award for 2006, and a major reason my office won the Centurian Award in 2006. After just seven months in this office, I closed the deal that resulted in the largest single commission in our offices’ history, a record that stood for over 1 full year. I am an instructor for the Small Business Development Administration, teaching a course I designed and created called "How to Buy a Business". I am a Certified Networker and have won the Notable Networker Award three times in one year. I am also an instructor for the Referral Institute, teaching the Referral Pipeline course. In 2006, I was nominated to the Presidents' Business Advisory Council on Small Business. Most importantly, I have amassed a large database of recognized professionals that can facilitate your transaction.
Organizations The Referral Institute, Business Networking International, International Business Brokers Assoc., German American Business Council,
Publications Small Business Development Corp. and various private newsletters.
Education/Credentials B.Sc. Stockton College, M.Sc. Long Island University,
Awards and Honors Centurion Award for 2006, Bronze Award for 3Q 2006, Recognition for the First SBA loan done in the Office.
Past/Present Clients I can not , for reasons of confidentiality name past or current clients. I can name industries where I have facilatated a transaction: marine, furniture, beauty industry, education, food service, automotive, home improvement, construction, and tax industry.
Question I own a landscape business that i started with my sister-in-law. She sold me her share at the end of the season (November) which included the business vehicles, tools,machinery, location and clients. I have recently gotten a hold of an invoice she made out to one of my clients, out of the ones she sold to me dated after the sale of her share. This is one of many such incidents. I don't think she's allowed to do that after selling her share of our business venture, so my question is: can she do that? what can i do? and does she owe me any money?
thank you in advance ,
Oscar
Answer Oscar,
I want to be very careful hear because as I interpret your answer your sister in law MIGHT be committing Fraud. If I understand you correctly, in November she sold you her interest in the business. So she no longer has the business, or and ownership position in the business. Then AFTER the sale, she is billing the customers she sold you (presumably on left over stationary) and collecting on several of these “old clients”. Since this is family …Be nice but firm. If that is correct you need a lawyer to draft a ‘Cease and desist” letter. Demand that all the cash be turned over to you very soon (Since these clients paid in good faith). Tell her that if she doesn’t do it you’ll take her to court where she will serve time. She should also pay your legal expenses. Have her disclose any and all incidences where she has done this and add a stiff penalty for every case which arises that is NOT on the disclosure. You should also mail the data base and indicate the she is no longer with the business and that for all matters client are to deal only with you. Again she should foot the bill for this as well. If you have to sue, you should, on top of everything else, ask that she pay a reasonable amount for every client lost due to the confusion and legal action. I good business lawyer can figure it out for you.
Good luck and please keep me posted.
