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Million dollar deals in 2020.

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These days, I’m often asked about my current take on the business sales market.

After all, we’re in a down economy and knee-deep in pandemic. And as an attorney who focuses on business deals, I should be feeling the drought firsthand.

Except, I’m not.

Not only am I still doing deals, I’m doing multi-million dollar deals.

How is this possible? What businesses are selling right now?

I’ve studied the last handful of transactions I’ve worked on, and here’s what I discovered:

Healthcare. Over the last couple months, I’ve had buyers contacting me earlier and earlier in the deal cycle – not just when an LOI is signed to ask for legal representation, but to ask me if I know of any great business opportunities for sale in the healthcare space. I have multiple deals in progress right now that broadly fall into this category.

Mobile services. The “we’ll come to you” approach is not just for pizza delivery. Employers and consumers alike are looking for solutions that allow them to stay close to home base. Businesses that can offer convenience services to customers are very attractive target.

Remote/low-overhead. Businesses that offer buyers an opportunity to work from anywhere in the country (and even from their own home) are also appealing. Lean companies that have been operated out of a founder’s garage present an enticing opportunity to a business-savvy buyer who can scale it up.

In addition to these types of business sales, I am working a number of commercial real estate deals, and it may surprise you to know that the majority of these clients are restaurant owners – folks that are purchasing a pad of land and building their establishment or entering into a long-term commercial lease.

Why are business owners moving forward with buying and selling?

They do it because they are passionate about their offerings and because they believe the future is brighter.

And it’s on the shoulders of these business owners and their families that I’m confident we will build our Recovery.

So, as one business owner to another, my take on the current climate is this: business is still active. We have not come to a screeching halt, far from it. And the resilience and optimism of business owners today?

Now that’s contagious.

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