April 22, 2014
www.cabb.org
What's Inside
Note About This Week's CABBinar

CABB Broker or Miracle Worker

The Necessary Beast: Due Diligence

Become a CBB this Year!

CABB LinkedIn Group News

May Cabbinar

Education Schedule

Member Spotlight
Welcome New CABB Members:

Ramon Grijalva
VR Business Brokers

John Homan
Aegis Encorpus, Inc.

Rak Gyu Chung
Legacy Real Estate & Associates

Arin Gregoryona
Business Team

Reid Schantz
Sunra Corporation, Inc.

John Gammoh
VIP Business & Property Brokers

Victor Li
L2 Global Investment, LLC

Lee Greytak
First Dynamic Business Solutions, Inc.

Edward Lavine
Strategic Resource

Sherri L. Fichter
Pacific Coast Business Brokers

Committee Spotlight

The mission of CABB's Education Committee is to maintain and improve the educational standards of the business brokerage industry, and the membership of the Association. Additionally, it aims to facilitate education for the public regarding the use of professional business brokers to buy and sell their businesses.

 

Please join us in thanking the following members of this committee for dedicating their time and talents:   

 

Ron Hottes (chair), Steve Benson, Ron Johnson, Jeff Tait, Steve Zimmerman

If you would like to join this committee please email us at cabb@cabb.org

Seeking Chapter Leaders
CABB is seeking persons to help start and coordinate CABB chapter meetings in the San Diego area, and in the San Francisco, Tri Valley and Sacramento areas of Northern California. It is a great opportunity to take a leadership role in your industry's professional association.
 
Anyone interested should contact Ed Fixen/CABB Chapter Chair at ed@businessquestbrokers.com 

Quick Links


Reminders

Remember!
CABB Forms Are Only for CABB Members.

Only Active CABB Members can use CABB Forms! Protect the investment you've made in CABB. Please do not share or provide these forms to anyone who is not a current and active CABB member!

This Week's CABBinar Has Been Rescheduled for June.

There will be no CABBinar this week.


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Welcome to Your
CABB Connection

News and information exclusively for 
California Association of Business Brokers members and affiliates.

Important Note About This Week's CABBinar
 
Due to speaker availability, the April CABBinar has been rescheduled for June. There will be no CABBinar this week; you can learn more about the next CABBinar (in May) by reviewing the information later on in this newsletter.
CABB Broker
or Miracle Worker?
By Al Statz, ASA, CBA, CBI. 
President, Exit Strategies Group, Inc. 

 

I spent some time this past weekend reflecting on the minor miracles CABB brokers perform every day in making a market for small businesses. CABB brokers don't walk on water, but sometimes it seems they come close.

 

Twelve miraculous things successful CABB business brokers do ...

  1. A successful CABB broker commits his or her time to selling a risky and dynamic asset comprised mainly of intangibles, held by an emotional owner, knowing that it will take 9 months on average to sell; then completes the sale and meets the client's price expectations 80% of the time. Only a CABB broker appreciates how much faith that takes ... 
Please submit articles for publication in CABB Connection to Bob Porter. Share your expertise!   
The Necessary Beast:  
Due Diligence
By Ellwood Jones 
Capital Region Financial Group  

 

No experienced buyer purchases a company without first learning everything there is to know about it. That learning process is known as "due diligence."

During due diligence, a buyer, its accountant(s), lawyer(s) and any other professional advisor it employs will examine every aspect of every one of the seller's contracts, procedures, relationships, plans, agreements, systems, leases, manuals and financial documents.


This process requires an extraordinary amount of time and attention on both the buyer's and the seller's parts. That's why we recommend that owners initiate the due diligence process as soon as they decide to sell their companies and have an indication from a transaction intermediary that the business is salable for sufficient money to meet their financial security wishes and needs. Starting the due diligence process well before ... 

 

Please submit articles for publication in CABB Connection to Bob Porter. Share your expertise!   

Become a CBB this Year! 

 

Becoming a CABB Certified Business Broker (CBB) is one of the best things that you can do for your business broker career. A CBB differentiates you from the competition.  It can elevate you above other business brokers, by demonstrating that you are more informed, educated and experienced.  Many CBBs find it effective, when marketing their services, to stress how clients can benefit by insisting on dealing with certified professionals.  When co-brokering with other business brokers, the CBB conveys that you have the requisite knowledge and experience.  Once earned, you can proudly display the CBB initials beside your name in promotional materials and correspondence.

The requirements for obtaining a CBB are quite simple:

  1. Be a CABB member in good standing;
  2. Submit the CBB Application and proof of compliance;
  3. Pledge to uphold the Association's Code of Ethics;
  4. Successfully complete the following:
    1. The two-day CABB California Business Broker Training Course 101 with a score on the test of 75 or better;
    2. The one-day CABB 201 Recasting Course with a score on the test of 75 or better; and,
    3. Submit proof of listing and/or selling 5 business opportunities that have successfully closed.
  5. The CBB must be renewed every 4 years by passing the CABB Course 501 Advanced Business Broker Training.

So why not take your business brokerage career to the next level, by signing up for CABB 101 & 201, and becoming a CBB this year!

 

CLICK HERE FOR A CBB APPLICATION 
 

CABB LinkedIn Group News

 

To better serve CABB members, the CABB Board of Directors decided earlier this month to make the CABB LinkedIn group open to CABB members only. Until now the Group has been open to non-members, but it has historically had very little discussion activity. The Board's goal is to provide a location, not visible to the general public, where CABB members can discuss business brokerage questions, issues and opportunities in an open, collegial manner. We hope to make this online discussion group a valued benefit of CABB membership.

 

This change is in process. If you are on LinkedIn but not yet a member of the CABB LinkedIn group, you will soon receive an invitation to join the group. Click here to visit the CABB LinkedIn group.

 

If you have any questions, please contact Group moderator, J. Roy Martinez, Exit Strategies Group, Inc. at the below email address:   

 


May Cabbinar

Industry Specialization - Is It For You?

 

Presenter: Steve Zimmerman, CBB, CBI

 

Overview: Steve will discuss the advantages of being a business broker specialist and Restaurant Realty Company's targeted marketing program including: 1) state-of-the-art internet marketing, 2) bi-weekly email newsletters, 3) Restaurant Rap Quarterly newsletter and 4) direct mail campaigns. Additionally, he will discuss the advantages of being the go-to restaurant broker in the San Francisco Bay Area, his buyer broker representation program, and being a broker appointee by the United States Federal Bankruptcy Court, an expert witness and preparing letters of valuation on a fee basis.  

 

Bio: Steve is the Founder, Principal Broker and Chief Executive Officer of Restaurant Realty Company. Steven has personally sold/leased over 850 restaurant, bar or club businesses, sold many commercial buildings and completed over 2,500 restaurant valuations since 1996. His real estate experience also includes sales, acquisitions, management and ownership of numerous properties throughout California including restaurants, hotels, apartment buildings and single family homes. Steve is also the author of Restaurant Dealmaker - An Insider's Trade Secrets for Buying a Restaurant, Bar or Club - available on Amazon.  Steven is a graduate of Cornell University's School of Hotel Administration and the University of San Francisco's School of Business.  

Date: Thursday, May 22, 2014

Time: 9:00 am - 10:15 am, PDT

 

Education Schedule

Registration is easy! Simply call or email the CABB Administrative Offices to register for an upcoming course:

Phone: (866) 972-2220 
 

May 1 & 2, 2014

CABB 101 (2 days) Introduction to California Business Brokerage 

Northern CA/Business Team Campbell- Instructor: Ron Johnson

 

June 5 & 6, 2014

CABB 101 (2 days) Introduction to California Business Brokerage 

Southern CA/Business Team - Torrance - Instructor: TBD

 

June 19th & 20th, 2014

CABB 201 (2 days) Finance for Business Brokers and Advanced Recasting and Valuations 

Northern CA/Business Team - Campbell - Instructor: Ron Johnson

 

June 19th & 20th, 2014

CABB 201 (2 days) Finance for Business Brokers and Advanced Recasting and Valuations 

Southern CA/Business Team - Torrance - Instructor: Ron Hottes

   
Click Here to view the entire 2014
CABB Education Schedule. 

To make educational program suggestions or to get involved as part of the CABB education committee, email Ron Hottes.  

 


CABB Connection is provided to members by our Communications Committee.

If you have suggestions for this newsletter or would like to serve on this committee, please contact Al Statz.

The opinions, beliefs and viewpoints expressed by the various authors for this newsletter do not necessarily reflect the opinions, beliefs, viewpoints or policies of the California Association of Business Brokers.

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