Transaction Talk

On this episode of Transaction Talk, hosts Jennifer Fox and Eric Sigman sit down with Dave Killen, a commercial real estate broker at LandVest, a firm specializing in customized commercial real estate solutions. Dave shares his expertise on everything from complex property valuations to identifying the right buyers for unique properties. Tune in to learn about the challenges of valuing businesses alongside real estate, the implications of a business not paying rent, and why business owners should engage a broker sooner rather than later. Dave also breaks down the nuances of 1031 exchanges, the importance of due diligence in real estate and business deals, and how LandVest's sophisticated marketing network helps connect sellers with the right buyers, even when the ideal buyer isn't obvious. Don't miss this insightful conversation packed with expert advice on navigating the complexities of commercial real estate!

Key Points From This Episode:

• The different types of valuations that Dave does for commercial real estate.
• How to determine the value of a business when it owns the property.
• Interesting properties that Dave has worked on with LandVest.
• The difference between real estate and commercial real estate brokers.
• How Dave finds buyers for unique properties and developments.
• The typical timeframe for commercial property valuation and sales.
• When business owners should contact a commercial real estate broker.
• How to do a 1031 exchange (and how to know if it's right for you).
• Conducting due diligence for business and commercial real estate transactions.

Tip of the Day: Price your property realistically. In today's market, deals that are priced appropriately will move, while overpriced listings are likely to stall. The period of aspirational pricing is behind us, so sellers should focus on setting a fair market value from the start!

Links Mentioned in Today's Episode: Dave Killen

Dave Killen on LinkedIn

Call Dave Killen on 508-451-0020

LandVest Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

Artificial intelligence is changing the way businesses operate, but do you know how to use it responsibly? Today on Transaction Talk, we're joined by Adam G. Gutbezahl, an AI thought leader in the legal field, litigation attorney, and author of the CHATAdamG newsletter, a monthly digest of AI trends shaping the legal landscape. In our conversation, Adam breaks down how AI tools, especially large language models (LLMs), are being used in business and the legal risks they pose. From the dangers of AI-generated misinformation to increasingly convincing phishing scams, he shares examples of AI misuse and how companies can protect themselves. We also discuss why every business should have an AI policy in place and how leaders can ensure their employees use AI responsibly. Whether you're excited by AI's potential or wary of its risks, this episode will equip you with the knowledge you need to navigate AI with confidence!

Key Points From This Episode:

• An overview of how we use AI every day, from autocorrect to ChatGPT.
• Why AI's output depends on the quality of the data it is trained on.
• How to instruct Large Language Models (LLMs) like ChatGPT for optimal results.
• The risks of using AI without proper oversight.
• Suggestions on how to responsibly use AI as a tool for efficiency.
• What companies can do to safely navigate the AI landscape.
• Why businesses should seriously consider hiring a Chief Technology Officer (CTO).
• How a CTO and AI policy can help protect you against potential harm.
• Adam's predictions for the future of AI and how to set your business up for success.

Tip of the Day: AI is a powerful tool, but like any tool, it works best when you understand how to use it. Don't be afraid to ask questions and admit what you don't know. Taking the time to learn first will save you from costly mistakes down the road!

Links Mentioned in Today's Episode: Adam G. Gutbezahl, Esq. on LinkedInFind Adam at 255 State Street, 7th Floor | Boston, MA 02109

Call Adam direct at 617-570-3502 or on his cell at 508-649-4216

Contact his office at 617-742-4200 or fax him at 617-742-2355

Email Adam at [email protected]

Ruberto Israel & WeinerSign up for the CHATAdamG Newsletter

Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

How would you run your business differently today if you knew exactly how you would leave it tomorrow? A business exit strategy is not something you plan when you are ready to sell. It is something you build from day one. Without the right preparation, you could leave money on the table or even struggle to sell your business. In this episode of Transaction Talk, we welcome Megan Kearney, entrepreneur, franchisee, and Partner at Exit Factor Lexington, to discuss why every business owner needs an exit plan. Exit Factor is a business coaching and consulting firm that helps entrepreneurs increase profits, free up their time, and unlock their business's true value. In our conversation, we delve into Megan's transition from corporate life to entrepreneurship, how she identified a major gap in exit planning, and why many business owners fail to prepare for their eventual exit. We also unpack how Megan helps make businesses more sellable, explore generational differences in approaches to entrepreneurship, learn about common exit planning mistakes, and more. Tune in to learn why starting a business with the end in mind is key to long-term success with Megan Kearney!

Key Points From This Episode:

• Megan's journey into entrepreneurship and why she chose exit planning as a specialty.
• What Exit Factor does and how Megan helps owners build sellable businesses.
• Common pitfalls and why many businesses are not set up for successful exits.
• Why an exit strategy does not always involve selling the business.
• The differences between millennial and baby boomer entrepreneurs.
• A real-world case study of a flower shop that struggled to sell due to poor exit planning.
• How owners can shift their mindset to focus on long-term value.
• Reasons that building a business with an exit strategy in mind is crucial.
• Insights into what buyers look for in a business and how to foster a long-term plan.
• Why you should think about your business as an investment.

Tip of the Day: Think about your business not just as a venture to run, but as an investment to grow. Start with the end in mind to build a scalable and valuable company!

Links Mentioned in Today's Episode:

Megan Kearney on LinkedIn

Megan Kearney Email

Call Megan Kearney

Exit Factor

Good Sports

Big Brothers Big Sisters Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

Welcome back to Transaction Talk! Today, we're joined by a very special guest, Brook Hartnett, one of our top brokers from the Transworld Boston office. A U.S. veteran and seasoned entrepreneur with a strong background in the fitness industry, Brook has seamlessly transitioned his expertise into the world of business brokerage. Now, he's helping business owners confidently navigate the buying and selling process with insight and precision. Join the conversation as they delve into his story and journey to becoming a business broker, what he would have done differently with his first deal, and what it was like to work on that deal with his mom. We share on the importance of allowing the donning of different hats throughout different phases of a process, and Brook reflects on factors that have impacted his success as a broker and entrepreneur. To hear more from Brook, including his tip of the day, be sure to tune in now.

Key Points From This Episode:

• We introduce today's special guest, Brooke Hartnett.
• Brook shares his story, from a US veteran to the fitness industry, to a business broker.
• What he would have done differently in his first transaction process.
• He unpacks his experience working on the deal with his mom.
• The importance of allowing the donning of different "hats" during the process.
• Thoughts on what has impacted his success as a broker and entrepreneur.
• How his personal understanding influences his approach to helping sellers position themselves for success.
• Setting appropriate expectations for the sales process: why it can be crucial to get right.
• One of the worst things they see during the selling and transition process.

Tip of the Day: It's never too early to start planning your exit. Engaging in conversations with your trusted advisors—your attorney, your accountant—can make a huge difference. Even if you're a few years away from selling, let them know your intentions. Chances are, one of them has valuable connections that can help you take the right steps now to prepare your business for a successful sale

Links Mentioned in Today's Episode: Brook Hartnett on LinkedIn

Brook Hartnett

Brook Hartnett Email

Brook Hartnett Phone Number — +1 631 965 9073

Coach Brook Inside Sales

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

Entering into a business transaction requires full disclosure, and a Quality of Earnings Report provides the perfect opportunity to bring everything to light. Matthew Allison is a Partner at Citrin Cooperman's Tax Practice, and he joins us to talk about the importance of a Quality of Earnings Report in due diligence during a business sale transaction. We kick off our conversation by defining what a Quality of Earnings Report is and how its directive differs on the buy- and sell-side. Diving into the details, we consider how a thorough consideration of information improves relationships and how sellers can embrace a realistic mindset during the research period. Next, we discuss the impact of Quality of Earnings on sales price and how pre-exposure can increase buyer comfort level when entering into a transaction. Lastly, we get into the importance of bringing everything to light during the reporting period and presenting it with transparency. Thanks for tuning in.

Key Points From This Episode:

• Matt Allison's broad experience in business growth, transition planning, operational finance, and more.
• What a Quality of Earnings Report is.
• The two very different directives of a Quality of Earnings Report for buyers and sellers.
• Information sellers should ask their CPAs or Brokers to prioritize.
• Having a realistic mindset leading up to a sale.
• Embracing the opportunity to examine everything during the research period.
• Examples of how Quality of Earnings can impact the sales price.
• Taking advantage of the opportunity to expose everything on the sales side.

Tip of the Day: Bad news doesn't get better with age. There is no sense in trying to hold anything back when there is going to be significant scrutiny on everything. Hand over everything — there's no reason to keep anything hidden.

Links Mentioned in Today's Episode: Matt Allison on LinkedIn

Matt Allison Email

Citrin Cooperman

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

Our guest today's favorite pastime is making business insurance a bit more exciting, and this is a segment you don't want to miss! Joining Jennifer Fox and Eric Sigman on the podcast today is Brett Beaurivage, Founder of The Bag Room, LLC. His company, The Bag Room, takes a strategic approach to risk, leveraging advanced mitigation and loss control techniques to prepare for any scenario that could impact you or your business, ensuring comprehensive protection. As an expert insurance advisor and consultant, Brett breaks down the critical role of business insurance in transactions. Join our insightful conversation with Brett as he unpacks why you need to have a strategy when it comes to insurance and shouldn't just pick and choose policies. He underlines the importance of working closely with your advisor on constructing a mutually agreeable insurance plan and stresses that maintaining an ongoing conversation about your insurance portfolio is crucial! Packed with key insights, this episode is a must-listen, so tune in now!

Key Points From This Episode:

• An introduction to the topic and guest of today's podcast episode.
• More details on Brett's company, The Bag Room, LLC.
• He explains what business insurance is and why it is essential to have it.
• Brett takes us through different policies and the types of risks we would try to mitigate with each one.
• He unpacks one key principle of risk management insurance.
• How to evaluate the right amount of coverage: a robust insurance portfolio.
• Brett explains how he helps business owners get the right insurance coverage: collaboration with your agent.
• How business insurance fits into a transaction.
• Why you need to look at a claims history before you buy a business and the importance of tracking losses.
• He explains the difference between how general liability and professional liability work, as far as claims go.
• How the coverage works with professional liability.
• Why you shouldn't be with any one insurance company for more than 3-5 years.
• The benefits of having a full, and effective team, with transactions.
• How to reach out to Brett.

Tip of the Day: Stay with an insurance company for no more than 3–5 years, reassess as your business grows, and work closely with your agent to develop a cost-effective strategy. Open communication and trust are essential for successfully managing your business insurance portfolio. If you are working on transactions, having a full and effective team is key!

Links Mentioned in Today's Episode: Brett Beaurivage on LinkedIn

Brett Beaurivage Phone Number — +1 603 413 6500

Brett Beaurivage Email

The Bag Room, LLC

Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

With the holidays just around the corner, it's an important time to consider giving back. In this episode of Transaction Talk, we sit down with David Crowley, founder of Social Capital Inc. (SCI), to explore how small acts of service can make a big impact. With the tagline "cultivating connections," SCI's mission is all about building local connections through leadership programs and volunteer opportunities. David shares the highlights of SCI's work, from the Youth Grant Pitch Contest where teens create community improvement projects with the help of professional mentors to seasonal volunteer activities like leaf raking and snow shoveling for seniors to fight social isolation. SCI also focuses on building leadership skills to organize grassroots initiatives, as well as developing scalable models that can work in diverse neighborhoods. Efforts like these not only tackle immediate challenges but empower local leaders to create lasting change. Tune in to learn how you can make a difference in your community this holiday season and beyond!

Key Points From This Episode:

• An introduction to David, SCI, and their mission to cultivate connections.
• Encouraging community participation through leadership development and volunteering.
• Opportunities to volunteer, such as leaf raking to reduce social isolation among seniors.
• How you can get involved in community programs like the Youth Grant Pitch Contest.
• A strategic approach to scale initiatives by empowering local leaders to organize projects.
• The value of bridging generational and cultural divides to build inclusive communities.
• Seasonal programs to engage young volunteers and address specific community needs.
• Cultivating connections to combat loneliness and foster collaboration in divided times.
• The importance of getting involved: a recap of the key takeaways from today's episode.

Tip of the Day: Find an opportunity to cultivate connections and strengthen your community in a grassroots way, either through SCI or by creating similar initiatives locally!

Links Mentioned in Today's Episode: Social Capital Inc.

David Crowley

David Crowley on LinkedIn

David Crowley on X

Bowling Alone: The Collapse and Revival of American Community

'In the News: Over 100 Volunteers Rake Leaves for Seniors – Including 50 Migrant Volunteers!'

Youth Grant Pitch Contest

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

The final quarter is bookkeeping season as businesses consolidate their year and plan for the next one. To explain why keeping your books and records up to date is vital for the success and growth of your business, we are joined today by Jeff Starr, General Manager of Supporting Strategies, an outsource-booking, accounting, and operation services provider for small and mid-sized businesses. Jeff begins with some important bookkeeping tips for 2025 before explaining why every business should use Q4 to update all its financial records. We discuss the role of bookkeeping professionals, why updating your books should be a monthly activity, the things that could go wrong when your records are outdated, and Jeff's unique approach to the accrual-cash pendulum. To end, we learn about how bookkeepers help business owners translate their financial data for prospective buyers and Jeff advises us to always stay on top of our bookkeeping and not to underestimate its importance. Ready to set your business up for success? Tune in to start taking control of your financials today!

Key Points From This Episode:

• Important tips and considerations about books and records for 2025.
• Why it's vital to consolidate your bookkeeping before the end of the year.
• The importance of relying on professionals to help sort through your books and records.
• Understanding how often a business should be updating its books and records.
• How having updated records makes a business more attractive to willing buyers.
• Exploring the challenges and possible pitfalls of having outdated books and records.
• Accrual versus cash and how Jeff approaches this particular towrope.
• How bookkeepers help business owners translate their financial data.
• The way Supporting Strategies advises its clients on cash flow.

Tip of the Day: Stay on top of things, don't procrastinate, and don't underestimate the importance of bookkeeping for your business.

Links Mentioned in Today's Episode:

Jeff Starr on LinkedIn

Jeff Starr Email

Supporting Strategies

Shark Tank Jennifer Fox on LinkedIn

Eric Sigman on LinkedIn

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

When is the right time to sell your business? Hollie Choe is a Business Broker and Certified Exit Planning Advisor at Transworld Business Advisors, and she joins us today to provide key insights on how to determine the right time to sell and how to prepare for it, both personally and in your business. Tune in to hear what to consider before engaging in a sale with real-life examples of moments where the market converges with personal reasons. Holly shares why the first question she asks potential sellers is always "What is your plan?" and what steps to take to ensure that your business is ready to sell. You'll also hear about hurdles you might face before preparing to sell, how to understand the transition process before engaging in a sale, why it's so important to prepare for the unexpected, and more. Thanks for tuning in.

Key Points From This Episode:

• Introducing Hollie Choe and today's topic, determining the right time to sell a business.
• Two considerations to establish the right time to sell: personal and business readiness.
• Examples of reasons to sell where the market converges with personal reasons.
• The first question Hollie asks potential sellers: what is your plan?
• Steps to ensure your business is ready to sell: team, reliance on the owner, and more.
• Hurdles you might face before preparing for the right time to sell.
• Understanding the transition process looks like before selling.
• How being more prepared is connected to understanding the right time to sell.
• Preparing for the unexpected.

Tip of the Day: Preparation is key, whether it's to sell, expand, or grow your business.

Links Mentioned in Today's Episode: Hollie Choe Phone Number: 541-920-9026 Hollie Choe Hollie on LinkedIn

Hollie Choe Email

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.

What makes restaurant transactions so complex? In this episode of Transaction Talk, Adam Barnosky, chair of the Restaurant Hospitality Practice Group at Ruberto, Israel & Weiner in Boston, joins us to break it all down. Adam delves into the unique challenges of restaurant transactions, discussing everything from liquor licensing and zoning permits to the intricacies of multi-unit franchising. He highlights how doing your due diligence is essential, particularly when reviewing lease agreements and navigating regulatory approvals, which often lead to longer timelines compared to other business deals. Adam also covers key issues such as employment claims, UCC liens, and whether to buy or lease restaurant properties, noting how each decision impacts the overall transaction. Tune in for valuable insights on handling the complexities of buying or selling restaurants, and discover why proper planning, patience, and the right team are crucial to closing a successful deal!

Key Points From This Episode:

• Key differences between restaurant transactions and other businesses.
• Various permits to consider and why patience is key in restaurant transactions.
• An overview of multi-unit franchising in restaurant acquisitions.
• Financial dynamics that impact the decision to buy land versus renting.
• How to approach liquor licensing; why it's such a nuanced and specialized issue.
• The importance of doing due diligence, from UCC liens to reviewing lease agreements.
• Employment claims and issues you need to be aware of as a buyer.
• Doing due diligence as a seller and ensuring you have post-closing protections.
• Selecting the right professionals to work with; why it's important to have a restaurant broker.
• Health inspections, zoning, and other considerations at the municipal level.
• How to get in touch with Adam and a quick recap of today's key points.

Tip of the Day: $1 in diligence today will save you $1,000 down the road.

Links Mentioned in Today's Episode: Adam Barnosky on Linkedin Adam Barnosky on X

Adam Barnosky Email

Ruberto, Israel & Weiner

Transaction Talk

Disclaimer:

The material on this site may be considered advertising under the rules of the Supreme Judicial Court of Massachusetts. This site is solely for informational purposes and provides general information only. Nothing on this site should be construed as legal advice or consultation either generally or in a particular case. Neither the receipt nor the distribution of materials constitutes the formation of an attorney-client relationship.