****New 2023 Updates- SBA Financing Module, Understanding Cash Flow Levels (SDE, EBITDA, EBIT, FCF) and the BBA Analysis Tool with case studies.
You want to be in business.
Somewhere in the back of your mind you hear a voice saying, 'This is risky, what if it doesn't work?'
That's why millions of prudent entrepreneurs get into business each year by buying a successfully operating business rather than starting one.
But where do you start? How do you know which business is right for you? How do you know what the process is?
Business Buyer Advantage is a full day workshop that follows one example company through the entire process. Discovery, examination, offers, financing, due diligence, closing and deal structure.
This is the online version of the Full Day seminar that I've been delivering to classes since 2009. Almost 100 classes over 10 years and I've gotten superior feedback from students after each one.
This course has been recommended time and again from one student to another. It has always featured a money-back guarantee and only a handful of people have ever asked me for a refund. This is how certain I am of the quality of this material.
If you've ever dreamed of owning a business but are afraid to start one because of the risk, this class can help open the door to buying a successful, established business that already produces a profit.
Students in this course will learn:
- Why would you want to own a business
- Buying vs. Starting a business
- How to start looking for a business
- Understanding buyer and seller motivations
- Negotiation fundamentals and BATNA
- The steps in the buying process
- Finding GOOD businesses for sale
- Using Intermediaries
- The initial contact with the seller
- Understanding business processes in the interview
- The seller’s mindset
- Examining the business
- Businesses vs. Companies what are you buying?
- What is a business?
- Normalizing financial statements (recasting)
- SDE vs. EBITDA cash flows
- Identifying problems
- SWOT analysis and small businesses
- Simple forecasting
- Determining the value of the business
- Methods of business valuation
- A sample case study
- Financing methods
- Proper deal structure
- Qualities of vendor vs. Institutional debt
- Making offers
- Actual deal examples from my business brokerage practice
- Understanding asset vs. share purchases
- Building your team
- Due diligence
- Understanding risks
- Buying a business in a recessionary economy
Learn as we follow a sample company from discovery to seller interview, to analysis, to normalization, to evaluation, to offer, to financing...
Buying a business is a complex task. You need the advantage of education on your side. The seller has years of experience and knows the business inside and out. Learn how to protect yourself by following a proven process and setting up a deal structure that protects you from the most common problems in small business transactions.
This small investment could literally save you hundreds of thousands of dollars by helping you to avoid getting into a bad deal.
*** NEW MODULE ADDED Nov 2019. Another 100 minutes of content has been added to address the numerous questions received concerning buying a business in a recessionary economy.
*** March 31, 2020 New Covid-19 section on buying businesses during the pandemic (and being prepared for when it ends)
***April 13, 2020 New Module added on buying distressed businesses.
Learn more about how you can realize your dream of owning your own business at http://www.BusinessBuyerAdvantage.com
***October 2021, Covid-19 update on normalizations and spotting the impacts of government assistance.
***December 2021, Share Purchases and Normal Net Position in Working Capital.
***June 2022, Introduction to Financial Statements, a 1-hour tutorial on how the four financial statments work and are created.
***April 2023, SBA Financing Module with interviews from industry veterans that have not been heard publicly before.
***April 2023, Understanding Cash Flow Levels. An in-depth analysis to help you better understand SDE, EBITDA, EBIT, Free Cash Flow and how/when these tools and 'multipliers' should and should not be used in your purchase offer.
***April 2023, The BBA Analysis Tool. A powerful excel spreadsheet that will make it easier to you to make smarter offers. Includes two hours of video case study tutorials to help you master it's many functions.
***February 2024, Bigger Businesses Bonus Module. I show you the details of sale transaction data showing how multiples change as revenue and cash flow grows and if this makes sense from an investment point of view. We'll calculate the effects together.
New: Add a phone consultation with David Barnett. Choose the consulting option at checkout.
What others are saying:
I just completed your course and left a 5 star review on Gumroad. Well done. I am a "sales guy" and have endured a lot of snake-oil like courses for sales professionals and business people over my career in sales management and individual sales. Your candor and matter of fact approach was a breath of fresh air. To be frank, I discovered your podcast during my process of researching [loud online guru] and after I heard you on "The How of Business" Podcast. I am glad to have found a legitimate source of information in you, relative to my professional goals.
Will the link to schedule my 30 minute call with you expire soon? I want to go through Business Buyer Advantage one more time (and while not traveling for work) to take better notes and to have a more thorough discussion with you.
My husband and I completed your program. We both feel that we have learned quite a lot from it and feel better able to evaluate and negotiate businesses and purchases. We appreciate your ability to explain concepts in a way anyone can understand them and the fact that you update the program with extra modules as the economy changes.
I would definitely like to advance to the Buyer Adventure Program as soon as we are able to. I plan to go online and rate your product with the highest rating. Thank you for all the work you have put into your programs.
-Patty and Troy M.
I really did enjoy the course – believe it or not I watched in one long
sitting (at 2x speed). I have been buying apartments with syndication
groups for several years, so concepts/terminology/etc were not new, and cash
flow is king. But, with cap rates on apartments (especially in Dallas/Fort
Worth, and really all markets in TX) compressing / values tripling in the
B/C space over the past 6-7 years, it’s a lot harder to buy and cash flow
honestly is not that great. I’m a mechanical engineer/MBA by training and
have been in high-tech/software sales for 20+ years, and have toyed with the
idea of owning a mfg business or multiple auto repair businesses, so that’s
where I am looking.
Key takeaways from your course:
1. The concept of BATNA – knowing/assessing your current state and
comparing that to what a particular business opp offers
2. Normalizing financial data – the examples given are extremely
helpful, and really illustrate not only the importance of getting to
3. Methods of valuation – I liked how you
illustrated/compared/contrasted the different methods with a real example
4. Offers/Sample Offer Letter – It’s evident that years of real-world
deal experience went into the offer doc. I really like the concept of
I will look into your coaching program – thank you.
-Greg G. in Texas.
I just finished the Business Buyer Advantage, How to find, analyze, make offers and financing program and it was fantastic.
I have to say this program was the best program I have ever taken part of. Yes, I really mean this because personally I went to Northeastern University undergrad (Cum Laude), I have a MS in Facilities Management from the Massachusetts Maritime Academy and I was cut short of my last 3 MBA classes over the past 5 months because of this pandemic virus, over at the University of Mass at Boston and I will need to finish next year and as you can see,
I have taken many college classes and many graduate classes and not one them could compare to the real-life situation that you presented in this great program. The real-life situation and all the examples that were provided were great.
The best part for me was that I could stop and rewind the information to watch and listen to the materials again and make sure to absorb what was actually being presented at the time, I did this plenty of times and I will refer back to the modules many more times too. I really got my money's worth for this program! Well done!
-Joe R. Boston, MA
I binged your program over a few days. It was a great primer on buying a business. Thank you. Just when I thought I knew what to expect and where you were going, you would put in a twist or an unexpected additional tip that was illuminating. Great job. I really appreciate your work and the style of your presentation.
My background is that I have been in the international shipping business my whole life rising to various levels of responsibility over the past 30+ years within a number of private and public companies. Shipping investment and finance is a very capital intensive industry while freight trading is very entrepreneurial at the same time. So my career has provided me with many lessons in capital budgeting, asset acquisition, sale and purchase transactions, project finance, risk management, financial derivatives trading, etc.
The recent economic downturn caused by COVID19, however, has resulted in my becoming unemployed. So as I contemplate reinventing myself as a late-stage executive my thoughts echo many of the sentiments you expressed in your program. 1.) I would like more control over my time and how I invest it, 2.) I prefer a role/position that will transition into the pre-retirement stage that is not constantly at risk of redundancy, 3.) I would like to put the knowledge I've gained along the way to work building a business, that in turn will work for me.
Given the typical timeline for finding a candidate business worth pursuing and structuring and negotiating an actual purchase, I will need to find some replacement employment in the short term so that I don't have to deplete my savings and potential investment equity. As a stop gap. But I will eventually like to join your Business Buyer Adventure Group.
Thank you again for the excellent material and reality check,
Thomas M., North Carolina
Thank you David.
I’m very much enjoying your course and more importantly I’m learning a lot. I appreciate your true expertise in the field and your no nonsense delivery of the material.
I anticipate following up this course with your systems class and your invest local class.
Thank you again,
Mike V, USA
Hope all is well. I really enjoyed Business Buyer Advantage. It was full of great information. Your business model seem very comprehensive and I am sure that I can benefit from such a great system. I have been holding off because I am not sure which direction I will take at this moment. With all that's been going on and other personal and professional matters it's kind of put me in a holding pattern. I know that I will have to make a change in the near future and I'm trying to be open and position myself to be led by something bigger than my limited perspective at this moment.
Let's stay in touch as we walk through these days together.
All the Best!
I just finished the course last night, and I am floored! I feel like I got thousands of dollars worth of education in nine hours.
I am excited to start putting the ideas into action. You have given me the confidence to move forward and start doing something at 48 that I have been dreaming about my whole life.
Thank you so much!
I purchased Business Buyer Advantage on September 4, 2020 and today I closed on my first business (Nov, 2022). I wanted to let you know that your videos really helped me navigate the very complex process of finding, making an offer on and eventually closing on the acquisition. So you can officially add me to the list of students who are now business owners. Here are some of the details: The purchase price was $2.4MM. SDE is $1.15MM. The seller carried $240k @6.25% for 10 yrs with a 5 yr balloon. I did an SBA loan (10 years @ 8.25% variable) and put down $260k. Additionally, I got $100k in working capital and a $100k line of credit.
So if you're ever in Boone, NC please stop by and see me at [Top-Brand Dealer in the Blinds Industry] and drinks are on me.
Eric, N. Carolina.
Note- All products priced in USD.
*Price includes 15% HST for Canadian Residents
Everything you need to learn about buying a small to medium sized business.