A Little About Andy Cagnetta:Andy came down to Florida in 1995. While looking to buy a business, he encountered a company named Transworld Business Brokers. He continued his search for a business but was offered a position at Transworld as an agent. He joined the company and quickly became one of So
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A Little About Andy Cagnetta:Andy came down to Florida in 1995. While looking to buy a business, he encountered a company named Transworld Business Brokers. He continued his search for a business but was offered a position at Transworld as an agent. He joined the company and quickly became one of South Florida’s top performers. Now over 40 years old, Transworld Business Advisors is the number one business brokerage and an international franchisor through a partnership with United Franchise Group. They have currently over 600 business brokers in the organization and have over 5,000 businesses for sale. They also have 200+ franchisees in the US and several internationally. Andy is a recognized speaker and trainer in the subject of business sales, valuation, and negotiations. He has taught his self-authored negotiations class to associations, construction companies, media sales teams, government agencies, high school & university students. His signature charity event "Andy's Family Pasta Dinner" is in its 19th year and has raised over $1,900,000. He is a father to two. Rachel, Lauren, and his wife, Allison are Hollywood residents (Allison since 1970, Andy since 1994). In this episode of The Millionaire's Lawyer, JP and Andy Cagnetta discuss:Andy helps business owners find the right buyer and/or seller for their businessIt is a bad thing when you're not prepared for the sale of your business; do not:Start selling lessProducing lessAttracting fewer clientsAll the above affects the trend line and no one wants to buy something that is slowing down - they would much rather something that is picking up90% of the sales that Andy Cagnetta sees are Asset PurchasesIf it is a stock sale it is because there are special licenses in a place like Medical LicencingThere have only been two (2) times that Andy has seen a Buyers market in all the years he's been doing this:After 911 when everyone was panic sellingThe economic downturn in 2009Fewer businesses for sale right now which means the inventory is downWhen the inventory is down the demand for yours is higherAndy Cagnetta feels like it is important to educate the buyers as wellMore and more people are selling their online businessesContent is king these days, you need to make sure you have the content and the online presenceIf you are a buyer, you want to make yourself attractive to the seller - you can do this by presenting them with a plan with what your ideas and goals areRight now is still a great time to purchase a business, the pandemic is starting to turn around, and business going to thrive yet again Businesses that are located in a city with population growth will make your business naturally growWhen you are going to sell you need a great team behind you consisting of:BrokerLegalCPAIdeally, you are getting your team involved two years before selling so that everything can be prepared correctly and attractively.To get Andy involved, expect the following:No obligation meeting - he likes to make good deals with good peopleOne year engagementYou pay Andy by a percentage of your saleAndy and JP both feel like the following industry's are hot:TechnologyOnline salesLandscaping, Plowing, services...ConstructionInfrastuctureToursimTIP OR TRICKMake sure you are systemizing everythingTrack your inventoryTrack your customer baseHave your paperwork in orderConnect with Andy Cagnetta:FacebookInstagramLinkedInTwitterPodcastWebsiteConnect with your host, JP:TwitterInstagramFacebookWebsite<a href="https://podcasts.apple.com/us