Andy and Jessica welcome you to another episode of The Deal Board Podcast. This week, they sat down with Chris Hurn, President of Community Bankshares, to discuss his insights from the forefront of business banking today. Touching on market trends, we unpack what you can do today to ensure the future sale of your business including the SPA process, financing, and more. Next, Taylor Bombardiere joins the episode to get into the finer details of what due diligence is and why it is important. The conversation covers a lot of ground; including bank and buyer sign-off, preparing your business for a sale, and making sure that any potential due diligence issues are resolved even before you hit the market. Join us today to hear all this and more!

Listing of the Week:

Johnathan Zsittnik sold an electric contractor business to a strategic buyer who had just received his master electrician license. For more information, call Johnathan on (978) 472 4385 or email him at [email protected].

Deal of the Week:

Karl Taft is selling a nostalgic 1950s-style diner in Waco, where delicious scratch-made meals and desserts are served in a charming setting. This beloved establishment holds a liquor license, is supported by a dedicated long-term staff known for exceptional service, and enjoys a prime location just blocks from a popular national tourist attraction. For more information, contact Karl Taft on (817) 677-9988 or via email at [email protected].

Key Points From This Episode:

• [00:22] Why the topic of future-proofing your deals is so pertinent.

• [03:05] Chris Hurn's career journey, analysis of the market today, and predictions for the future.

• [09:05] Portional business sales, profit margins, financing and more.

• [13:09] Insights from business banking and loans at the start of 2025.

• [17:44] The trend towards younger borrowers and tangential growth.

• [18:52] How to prepare for the SPA process.

• [24:00] Taylor Bombardiere on due diligence.

• [28:11] Due diligence from a seller's perspective.

• [31:50] Listing of the Week: Karl Taft (Dallas Fort Worth) is selling a 1950s style diner.

• [32:30] Deal of the Week: Johnathan Zsittnik sold an electric contractor business

Links Mentioned in Today's Episode:

Taylor Bombardiere

Taylor Bombardiere Email

Chris Hurn on LinkedIn

Chris Hurn Email

Karl TaftKarl Taft Email

Karl Taft on LinkedIn

Johnathan ZsittnikJohnathan Zsittnik Email

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Quotes:

"I've always been a big believer in specializing and not trying to be all things to all people." — Chris Hurd [0:14:07]

"If you're thinking of selling your business, it's really important to have as many of your processes and procedures as systematized as possible" — Chris Hurd [0:20:54]

"The main goal for due diligence truly is to get through the end of it and make sure that everything that they've found matches up with what they want." — Taylor Bombardiere [0:26:18]