University of La Verne SBDC Small Biz Blog

Joy Helou DDS, Inc.  1434 S Grand Ave Glendora,CA,91740 Joy Helou DDS is a professional dental corporation located in Glendora, California. Joy purchased an existing practice due to the previous owner’s philosophy of practice and existing clientele, which proved to be a great fit. Joy is a relative of the Dean of Business and Public Management, she reached out to him for help with a business plan since the dental school didn’t equip graduates in that area. Joy’s biggest challenge was the lack of a business background. Since dental students spend years gaining skills in medicine, they would not have time or instruction dedicated to running a business. “My background in the sciences like biology and dentistry. I graduated with a B.S. from the University of La Verne in biology. The hardest part was having to buckle down, look at the business plan with Sean and make decisions with numbers. Currently, I look at that plan almost daily because it gives me a refresher on what I need to be ...

General Driveshaft Service, Inc. 133 W Maple Avenue Monrovia, CA 91016 Duane and Kristin Howland are the management team of General Driveshaft Service, Inc in Monrovia, California. The company builds and modifies driveshafts for rear-wheel-drive vehicles. The vehicles Duane works on range from large diesel trucks to high-performance race cars and even classic cars. Duane worked for the company for 23 years when the previous owner decided to retire and sell the business. “In 2016, we were trying to figure out if we were going to buy this business (General Driveshaft) or if Duane was going out on his own. We got to the point where we wanted to buy this business and we weren’t quite sure how to do that or how to negotiate with the previous owner. We really didn’t know where to start,” Kristin explained. The University of La Verne SBDC had just opened its doors and became the talk in certain circles on campus. Kristin became familiar with the center and reached out for consulting. There we...

  by Sean Snider  1. Where to Look? There are a number of websites where you can search businesses for sale online. Two of the most common websites are www.bizbuysell.com and www.bizben.com. Here you can create a free account and set up search alerts much like if you were looking for a home on Zillow or Redfin. Once you set up your search the sites will notify you when new listings meet your search criteria. 2. Asset vs Stock Sale   Typically, there are two ways to buy a business: asset sales and stock sales. An asset sale is where the buyer sets up a new business entity and simply purchases the assets from the seller, whereas, a stock sale is the purchase of the owner’s shares in the corporation. Generally, when you buy a business you will do an asset sale. This is often the safer route because it helps create a clean breaking off point and can protect you from liabilities that may arise from the seller’s prior business activities. 3. Structuring the Deal  Find out...