...FREQUENTLY ASKED QUESTIONS...
Q. How would one describe the services that are provided by Black Ink Solutions (BIS)?A. BIS
...Ask us how, because our experience has taught us how...
is a firm that specializes in selling small businesses also known as "Main Street Businesses". We have an excellent understanding of our overall local business community and BIS
has established the necessary relationships to bring quality buyers and sellers together. In addition, we also work with our clients to help prepare a business to be sold. Q. What is our market?A. BIS
is located in Beaumont, Texas and we focus our efforts mainly in the local area known as the "Golden Triangle" and surrounding communities. Q. How does BIS compare to other brokers that are affiliated with national franchises?A.
Our firm does not maintain a large book of listings and then ask a potential buyer to review the businesses that are for sale and then inquire; which of these listings appeal to you? Our goal is to place qualified buyers and sellers together that we feel will be a good fit. In addition, we believe that the idea of a large national presence can be a detriment when confidentially marketing a business locally.Q. How does BIS service a client?A.
As a team, we work together through all aspects of the transaction. Our services include the review of company confidential information, important detailed discussions that focus on the client's goals and establishing a range of value for the business being sold. Q. What types of businesses does BIS represent?A.
handles "Main Street Businesses". Many of these small businesses are owner operated and primarily exist largely to support a family and are not focused on expansion. Some examples might include; family operated delicatessens/restaurants/take out fast food/bakeries/caterers, bars/pubs, dry cleaners, coin operated laundries, retail stores, convenience stores, automobile repair & service, lube shops, hair salons & services, car washes, liquor stores and computer stores. Q. How long will it take to sell my business? A.
There are numerous factors that influence the length of time required to sell a business. The market, industry, third party financing and the number of buyers interested are a few items that will influence the process. The average time to sell a business from start to finish is usually between six to twelve months although there are exceptions. We have completed transactions in several weeks after the business was listed. However, some unique projects have taken 12-18 months to attract/develop the right buyer. It is important to keep in mind that selling a business takes longer than selling a house or commercial building mainly because of the confidential efforts that are required in the sale of a business. Q. Does BIS help in structuring the sale of my business? A.
Yes, structuring the sale is one of the stages in the process where a seasoned intermediary's role is critical. When emotions are high on both sides of the transaction as each side seeks the advantage, we take pride in being able to navigate the two parties to a common ground while preserving the most important issues to each party. Q. What steps are taken during the process to maintain confidentiality? A.
We protect your company confidential information throughout the course of the transaction and discreetly market to qualified potential buyers. When the time is right, non-disclosure agreements are signed. Q. How much time is required of the seller by BIS to sell a business? A.
Initially and throughout the process we will request certain information that is normally provided by the business owner. However other than providing essential information, the role of the seller is limited only by their desire to be involved in the process. We pride ourselves in making sure that all parties are routinely informed. Q. Does BIS have sources for financing? A.
We have excellent working relationships with some of the best financial institutions in the Country. When third party financing is required to complete a business transfer, we have the expertise to direct a buyer to funding sources that understand the type of transaction involved. We have experience in working with the SBA guaranteed loan programs and have completed numerous transitions that have utilized this type of financing. Securing the proper financing is often the difference between a deal closing and falling apart. Q. What is a business that I want to sell worth? A.
We have an extensive amount of experience that we utilize when we determine a range of value for a business. In this important part of the process, numerous issues are reviewed such as; the type of business, the company's financial performance/balance sheet, the overall economic climate, how well the business is structured/organized and the seller's goals. Q. What are my costs for retaining the services of BIS? A.
In a normal engagement when handling a business transfer, the client does not pay a single "penny" if we do not deliver. All of the client's financial obligations due to BIS
are listed in the formal engagement agreement that was executed when both parties initially agreed to move forward with the assignment. Our fee is paid at the close of a successful transaction. Q. At some point during the process will I need an Attorney or Accountant? A.
At a specific point in the process it may be a good idea to have an Attorney review or prepare the legal documents. However, please make sure the Lawyer is familiar with the buy/sell process and can review the paperwork in a timely fashion. If you do not have an Attorney with the appropriate background, we can refer you to local Lawyers who are familiar with the business buy/sell process. We would recommend that you meet with these Attorneys and select the one that you feel will best serve your situation. With the numerous changes in the Tax Code, it also may be in your best interest to do the same with an Accountant/CPA....Shown above, the world class Julie Rogers Theater is a historic performing arts theater located on Pearl Street in the heart of downtown Beaumont. Built in 1928, the theater was once Beaumont's City Hall and Auditorium. This magnificent facility was completely renovated in 2007...