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Approaching a Confidential Business Review

Through the Buyer's Eyes

One of the services provided by The Firm Business Brokerage is creating a Confidential Business Review (CBR)—a comprehensive look at every aspect of a business that would be of interest to a potential buyer. A CBR is much more than just a set of financials. It’s a way to position a company that makes it attractive to certain buyers, or presents an opportunity that might not otherwise be apparent. Dan Hayes, Research Analyst for The Firm, gives his unique insight into how he prepares CBRs and why he has such a passion for detecting all intricate insights of a business.

When drafting a CBR, Hayes said he approaches it from the buyer’s perspective. “I think about what would be important to me if I were that business owner,” Hayes said. The CBR gives a potential owner a history of the business, as well as a look at the current competition, location of the business, advertising, marketing, and financials. “I try to include areas that would appeal to many different types of people who might be interested in the type of business,” he said

 

"In analytics you have to understand what individuals want, and I've developed an instinct for figuring that out and putting it all together, like a puzzle."
- Dan Hayes

 

For example, someone interested in purchasing a restaurant who will be very hands-on with the business requires more detailed information about the product & service, location, and marketing efforts. In contrast, a passive owner interested in it as an investment opportunity might want a more managerial analysis.

Each CBR is truly customized, all the way down to current staffing, photos and marketing materials that provides a better understanding of the business to potential buyers. With a background being a business owner himself, Hayes brings a lot of experience to his position. “In analytics you have to understand what individuals want, and I’ve developed an instinct for figuring that out and putting it all together, like a puzzle,” he said.

He has also practiced the martial art Aikido for 29 years and taught it for the last 18. “I’ve had to take something that is uniquely Japanese from a cultural perspective and teach it to a Western audience,” he explained. “I’m always trying to reframe it into something my students can understand, and that’s what I do at The Firm. What we offer in the CBRs is valuable, so I frame the message that anyone can understand it in their own way.”

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The Firm makes no warranties or representation in consideration to the information provided above. All communication regarding this business must occur directly with The Firm Advisors, LLC. The Firm is not a real estate brokerage and does not sell real estate. The Firm solely advises on exit strategy.