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 am considering buying shares in an existing "S" Corporation owned and run by a friend of mine. He has quoted me a figure that he would accept for my 33% ownership and is flexible on payment schedule. What are some of the other important "agreements" and "documentation" we need to have in place to limit future problems?
Answer One, you should both have insurance policies covering each other for the amount of the loss of expertise and resultant loss of business should the "unforeseen" happen.
You should have in writing NOW, an agreement to have the business evaluated by a reputable 3rd party in the event of any split in the future, for what ever reason.
A buy/sell agreement for what happens to the shares should the "unforeseen" happen. This way you don't end up with your friends spouse as a business partner and a majority partner at that. Have a clear and objective agreement as to work responsibilities. You may want to have it in writing to revisit those responsibilities annually.
Check with your personal accountant for tax ramifications.
Do not write this contract yourself, do find an expert for this. I can recommend one if you need one.
Working together is a great way to ruin a friendship, however I don't know of any contract to handle that.
