The CARES Act and how it can help your Tampa Business.

The United State government is working at speed to mitigate the massive economic impact on the country thanks to the Coronvavirus (Covid-19) outbreak. The CARES Act is the first of these initiatives to get money to those businesses who have falled on impossibly unpredicatble hard times. 

The video above summaries what my colleagues and I have discerned about the Act so far. 

The links and downloadable pdfs below include application forms and source documents, so that you can determine the ramifications, benefits and potential pitfalls for yourself.

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I’m here to help. In any way I can. If you need me to value your business or help you with projections, send me an email or give me a call.  This is unprecedented.  We shall make it through, and at the other side there will be pent up demand and bank eager to hand out money.  It is a dark miserable tunnel for some, but there is light at the end.  There was for the “Spanish flu” pandemic of 1918.  There was an end to the polio epdemic that peaked in1952.  And there will be an end to this too.

The US Senate Committee on

Small Business & Entrepreneurship

Downloadable PDF of Overview

Treasury Department Overview

Various Downloads Available

The CARES Act

Useful Links:

The US Chamber of Commerce Q an A  

The PPP Information Sheet for Borrowers

Application Form for a PPP loan

Source

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Source: https://buysellbizfl.com
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A Tampa Music School for Sale

BBF – 8940-589952 — 5+ year established full service music instruction academy in Tampa for sale. Over 90 students and is located in a great school district and surrounded by affluent neighborhoods. 4 instruction rooms plus 1 concert/recital venue that holds 100 seats for live music. They specialize in instruction for drums, band formation, voice, guitar, bass, piano, violin, banjo, etc. Excellent reputation, great reviews and amazing look inside.. must see!

Annual Sales: $137,506

Owner Benefit: $25,687

Asking Price: $75,000

Cash Down: $50,000

–> Tampa Music Instruction Academy for Sale <–

How To Grow the Business

As you consider this particular music school for sale, here is a round up of interesting articles that point to areas of growth and opportunity.

There are only 3 ways to make more money from your music school –

1. Get more students
2. Raise rates
3. Increase the purchase from each student/family

More in this Grow Your Music Studio article  including a concept of group teaching and how it can radically increase your ability to fit in multiple students at optimal times for the students.

A Case study on the Group Teaching strategy – Case Study

5 Traditional Methods to Grow Your Music School – including social media, Youtube-ing and podcasting, contests, Open Houses and more.

Music Academy for Success – downloadable free report.

12 Tips to Grow the Demand for music lessons at your studio –  including email templates asking for reviews and how to boost your Google My Business listing.

Photo credit: sean dreilinger on VisualHunt.com / CC BY-NC-SA

Source: https://buysellbizfl.com
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2019 South Tampa Hair Salon for Sale

BBF – 8940-527423 —  Established franchised hair salon in South Tampa or sale. Solid business and strong corporate support. Excellent books and records and will qualify for a visa. Located in a perfect location with heavy drive by traffic. Tons of new residential being built close by.

Annual Sales: $296,259

Owner Benefit: $66,678

Asking Price: $135,000

Cash Down: $135,000

–> South Tampa Hair Salon Business for Sale <–

Would you like more customers for your hair salon? Marketing is one of the primary issues for beauty salon owners as it can appear costly and confusing, even WITH social media! How do you cut through the noise? Try these promotion tactics as a way of switching things up.

1.  Share What You’re Doing Multiple Times per day.  Oftentimes referred to as the GaryVee way of marketing, always be creating content. Since hair is a visually stimulating field, there is a lot to work with. i.e. document everything you do and post frequently.  10 times per day across different platforms is NOT TOO MUCH!
2. Experiment with Video – share your secrets with your customers – let them get to know you
3. Convenience.  Think about how your customer prefers to interact with you and make every aspect of your business work that way.  Chances are that is by phone – there are apps for booking appointments, sharing inspiration photos, styling and color ideas all the way through billing.
4. Email.  Keep in touch with your clients so that you can share promotions, news (like new products, new styles, new colors, etc.) and remind them you exist to make them look and feel their best at all times.  Remind people they can come in for a free bangs trim, if you offer that.  Maybe offer a free blow dry on a slow day with high humidity!
5. Connect.  Answer any question and comment you get and react to it with more information.  Provide extra value whenever you can.
6. Partner with other people in appearance-oriented fields – offer makeovers – participate in fashion shows and glamour-focused events.
7. Get out there!  Few like networking, but it works.  Still.  A handshake and a personal followup will always be more impactful than any digital tactic.

Speaking of digital, there are so many ideas online, too. In fact, here’s how Gary Vaynerchuck suggests you repurpose every piece of content so that your efforts can count far and wide –

The GaryVee Content Model from Gary Vaynerchuk

Source: https://buysellbizfl.com
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3 Big Mistakes Owners Make With Their Business For Sale

Strong Start

You have hired a business broker.  You have followed his advice and organized and presented your books in the right way so that the best possible valuation has been achieved.  He or she has listed the business for sale on the multiple listing service.  He/she has put the alerts out and contacted his list of possible buyers to give them a sneak peak at something good.  You’ve done it all right.

Now what?

How long does it take my business for sale to close?

It averages 6 – 8 month, optimistically, to sell a business. There is a lot to be done on the buyer side that can take time:

• Industry Research – if the numbers entice the buyer but they are not familiar with the industry
• Opportunity Research – this is where the buyer looks at what he or she thinks they can do with the business that you the seller have not already done.  (This can be considered part of due diligence.)
• Due Diligence – the buyer, plus their team which can include an attorney and an accountant and other specialist
• Securing Financing
• There may be a Visa (E2) application to take place

The more people there are involved in this process, the longer it takes as it depends on third party availability.  And this is why you hire a business broker – so that you don’t get bogged down steering this process. You can get on with running your business making it into an ever-increasing-value asset.

 Another reason to hire and work closely with a business broker is to avoid costly mistakes.  It is tempting to fall into a “last week of school” mentality whereby the little things start to slide.  Watch these and the you will leave no money on the closing table through any fault of your own!

Keep Up Appearances

Now that the business is listed, you may think things are up to the broker, now. But just like with residential real estate, the seller has to keep things up to date, and well maintained to initiate and sustain a positive initial impression.  The first impression may be a buyer just driving by the buisness to have a quick look. Don’t count out all of the online research and exploration that can be down nowadays.  After all, if you were considering buying a business, you’d check it out, wouldn’t you?

1. Exterior and Interior Keep the business neat and tidy. You want to survive “the drive by”.  Plus, you never who is checking out the business when.
2. Digital – Social and Blog and Website – today’s buyers tend to be computer savvy. They will check out what the online footprint for the company and how professional it seems to be.  Further, how actively maintained a blog or Facebook page is suggests how well maintained the business is overall.
3. Reviews – You should count on pontential buyers researching how satisfied customers are with the company as part of whether this is a good business or not.

Calibrate and Align

You and your business broker agreed on a set of financials. Now you have to keep them that way (or improve upon them.) You never want to be explaining what went wrong!  Remember that the listing for your business for sale will include typical tax return information.  More than just gross and net revenue, there wil be cost of good, expenses, salaries, benefits, depreciation and the like.  Keep your pedal to the metal so that you do indeed – 

1. Deliver on the financials you have signed off on with your business broker
2. Defer any non-essential capital expenditures
3. Defer raises perhaps by offering time or bonuses down the road
4. Shore up the company culture so that it can hold together without you, and everyone is clear on the Mission.
5. Document all the processes so that there is never a doubt as to “how we do things”

Wean

A common mistake I see buyers making is forgetting that if you sell your business you will not longer be there day to day.  Can your business exisit without you?  You have to wean your customers off you. A cult of personality business is unsellable.  Consider:  an interior designer, a hair salon, a family doctor’s office… these all risk losing customers when the main person is no longer there.   Here are some steps to consider:

1. Take More Small Vacations
2. Appoint a 2nd in Command and build that person up
3. Allow decisions to be made by people in the business other than you.
4. Introduce customers to other employees and nurture relationships between them.  

 The last thing you want is to sell your business and then have to stay on and work for someone else or the customers all vanish! 

With your business for sale, it is tempting to lose heart and “just be done already”!  Unless you know the buyer and he is ready to close in 30 days, you have to keep the faith, and maintain your business so that there is the same (or better) value that you listed for the buyer at the closing table.  Why waste money, when all you have to do is hold on for a little bit longer?

Photo Credits

Photo 1 – Photo on VisualHunt
Photo 2 – Stock
Photo 3 – Photo by Emrah AYVALI from Pexels

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Tampa Yoga Studio for Sale in Clearwater, FL

BBF – 8940-753532 — Well established yoga studio for sale. Located on a bustling road with high traffic. One very large yoga room with capacity for hot yoga and two other spaces for a variety of practices including meditation, yoga, aerial yoga, Pilates, events, teacher trainings, etc. The studio includes locker room for both men and women with six showers in total. Owner will finance qualified buyers. Also, there is a rent-able room that can be used for massage or body work. Perfect opportunity for yoga instructor!

Annual Sales: $138,535

Owner Benefit: $28,045

Asking Price: $50,000

Cash Down: $25,000

–> Pinellas County Business for Sale <–

5 Tips To Expand Your Yoga Studio Business

As you consider this Yoga Studio for sale, you will want to see if these growth strategies are already in place or if you can deploy them for immediate impact.

     1.  Add 1 – 3 more student per class

As obvious as that might seem, it can make much more of a difference than you might assume. Check out this yoga studio profit calculator  and you will notice the change at once. The instructor is there, and the space is paid for – adding just one more student is pure profit.  Can you run an “invite a friend” promotion?  What about a Referral program? It may seem counter-intuitive to the ethos of yoga, but if you don’t keep your eye on the business aspect of the studio, there won’t be a studio at all.

     2. Create A Strong Community

• Welcome guests (even if they came in through a promotion) with a tour, an introduction to the class, a welcome email and an invitation to provide feedback.
• Ensure that each instructor has a strong, caring relationship with each student and that each class participant feels served in an appropriate way.
• Having everyone know each other’s first names is as important as they’re feeling a valuable participant.  After all, each individual brings their own energy to the room and the session, so each single person has impact.
• Warmth and acceptance should prevail at all times and is part of the welcoming spirit overall.
• Identify the glue that will hold each class together and work hard to nurture the connections made.

     3. Create unusual Varietals of Classes

It might sound gimmicky to some, but done with the right balance and grace, the following can be affecting and meaningful

• Glow Yoga – using glow-in the dark paint and glow sticks, with the studio lights turned off can offer a substantive experience to change things up.
• Cat Yoga – visual imagery of feline grace with purring soothing sounds, and in come cases, real cats are brought in to the studio.  (Mine would shout unrelentingly, but maybe there are quiet, amenable cats out there?)
• Eco Yoga – outside, breathing in fresh air… you can imagine!

and check out the following 2019 Yoga Trends for more zany and creative notions.

     4.  Host Events and/or Rent Out Your Space

There are celebrity yoga instructors and influencers in the industry who can add allure to a local event.  Weekend workshops can make the studio in use for a longer time period thereby increasing profitability.  Who couldn’t use more Mindfulness in their life? Turbulent times call for lots of opportunities to de-stress and reconnect to source.

     5. Keep Up With Digital: Feed the Beast!

With quotes, beautiful imagery and tips for healthier living, a yoga studio has a lot of content potential.  Frankly, it is now expected that a well established yoga studio will have not just a vibrant Facebook community, but also an Instagram and Pinterest program in place, too.  Don’t forget LinkedIn. Perhaps people sitting in offices need help more than most?  Reminding folks to let things roll off them, keep to the high road and generally keep breathing is just as useful on LinkedIn as it is on Facebook, though there might be less interaction, it will be just as appreciated.

For more information on this particular yoga studio for sale, or for any other Tampa business for sale, please call me at (727) 215-7530

Call Dave DeCamella for more information and a Non-Disclosure Agreement to hear more about this Yoga Studio for sale.

Yoga Industry Stats

IbisWorld puts the total revenue from 2019 northwards of $12 billion, with 46,220 businesses in the United States, all experiencing, on average, 9.1% growth.

Yoga Journal’s “Yoga in America” study, 36.7 million Americans participated in yoga in 2016 (latest data available), up from 20.4 million in 2012. Furthermore, an estimated 80.0 million Americans are expected to try yoga in the coming years, indicating further interest in industry services. Yoga studios have appealed to health-conscious individuals over the five years to 2018, and 61.0% of yoga participants surveyed for the Yoga Journal study reported using yoga to enhance flexibility, followed by stress relief (56.0%), general conditioning (49.0%), overall health (49.0%) and physical fitness (44.0%)

Thank you to TheGoodBody.com for this graphic.

Photo by bruce mars from Pexels

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11 Things You Need To Do Now To Prepare Your Business For Hurricane Season

11 things you need to do now to prep your business for hurricane season from DaveDeCamellaCBI

As Hurricane Season starts, it’s a good idea to make sure your business is prepared, not just your home. Have you checked your insurance policy? Is there a hurricane rider? If you lose power, or perhaps more important for most of us nowadays, if you lose access to your server, are you covered? 

And if you’re about to sell your business, it is even more important to protect the “growth” opportunities of your business. Don’t know what they are? Give me a call – (727) 215-7530

Source: https://buysellbizfl.com
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New Port Richie Pet Grooming Business For Sale

BBF – 8940-296287 — Absentee run pet grooming both in store and mobile units, self service pet wash, pet sitting. Family owned and operated for 10+ years, database over 8,000 customers and located in a perfect area with multiple new homes being built and growth to the area. Owner willing to finance qualified buyers.​

Annual Sales: $250,000

Owner Benefit: $55,000 (on only 20 hours/week)

Asking Price: $139,000

Cash Down: $75,000 

–> Pasco County Business for Sale <–

.  10 Ideas to Expand your Pet Grooming Business

As you consider this pet grooming business for sale, it might be useful to consider some marketing ideas that have worked for others and inquire if this company has ever tried them. (And even if they have, they might work quite differently once you put your own spin on them. Life changes all the time, especially as an area grows.  Some things that didn’t work before may well now as the market matures.)

If you are a frequent reader of the blog, some of these concepts will be familiar to you.  that’s because I believe that they work in a variety of retail situations, and that it is good to keep in mind the fundamentals, like

1. Customer referral Program.  Give your current customers an incentive to refer their friends.  Maybe a discount on a next service, or a perk not usually available.  The more fun you make the referral, the easier it is for your customers to follow through.  This is the fastest and most enduring way to build a business.  don’t forget to have everyone leave you a positive review online!

2.  Update and Improve the current website. Most consumes are looking for new businesses on their phones.  Is the website mobile-compliant?  How is it optimized for search?  Does it have the right language and tagging so that the business comes up in “near me” searches and questions about <city name> pet groomers?  Plus, a fresh, clean website with large images and snappy copy makes the business seem alive and thriving.

3.  Socialize.  Marketing online doesn’t stop with just the website. There are social sites that need to be fed. Are you customers on Facebook – then the cute puppy videos and rogues’ gallery of fluffy clean animals needs to be updated there a couple of times a day.  If it is Instagram or Twitter or… NBT (the Next Big Thing) you need to be there. The good news here is that this business is both highly visible and extremely appealing!

4. Expand The Menu of Services.  See the gift box, er box, on the right hand column. (If you’r eon your mobile, it will be lower down)

5. Network with similarly aligned businesses.  Vets, Boarding places, Dog Parks, Adult Ed, etc.

6.  Community Events – how can you fit in and add value?

7.  Promotional Products that your customer will use to carry your logo around for you.

8.  Special contests, Giveaways, Promotions – often seasonally related, but there are all sorts of holidays…and some can create an unusual amount of buzz.  Who would have thought that Talk Like a Pirate Day would take off?

9.  Frequent Users Plan – aka Customer Loyalty Program.  And again, how you reward your customers is entirely up to you.  An original idea might be a special treat that the dog likes best, that only you as its groomer knows.  Or a varying gift box along the lines of a Bark Box.

10.  First Timers Offer. You will see hairdressers offer a coupon or glaze/treatment as an “extra” for first timers.  For pet grooming there will be something similar.  Consider a skin conditioning or a special treatment that would normally be an up-sell.

The Cost of Starting Your Own Pet Grooming Business

A new pet grooming business can run to $50,000 to get it up and running. This includes the business license, the lease or building and the equipment.  If you are hiring people to help or technicians, that is an additional expense, as is the inventory.  

Then there’s the cost of making mistakes as you learn what works in the area.

Probably simpler just to buy an existing business, no?

The Pet Grooming Business is Booming

According to Ibis World, an international statistical research consultancy, over 123,900 businesses are currently operating as dog groomers and boarders in the U.S. with an average growth rate of 8%. 218,674 individuals are employed in the grooming industry alone.

The American Pet Products Association publishes statistics annually that estimates 2019 spending at $75.38 billion.  This constitutes growth of 264.5% since 2001.

Actual Sales within the U.S. Market in 2018

In 2018, $72.56 billion was spent on our pets in the U.S.

Breakdown:
Food                                                         $30.32 billion
Supplies/OTC Medicine                           $16.01 billion
Vet Care                                                   $18.11 billion
Live animal purchases                             $2.01 billion
Other Services                                         $6.11 billion

Source:  https://www.americanpetproducts.org/press_industrytrends.asp

Don’t most people own a dog?

47% of all pet ownership is of dogs, says the American Pet Products Association.

Source

Stay Nimble

To compete with the ecommerce trends in your sector.

Amazon recently emailed all Prime members trial discounts on all Subscription and Discovery Boxes.  Magazine subscription they’ve been doing for a while, but this was the first time I noticed the Pet boxes.  There are a lot.

• KitNipBox
• BarkBox
• PawStuck
• Bark If You Want Some
• PupJoy Dog Day Box
• The Dapper Dog

This means there is opportunity here.  You can capitalize on it too.  What can you put in a box and either deliver or have available when the pet comes in for the next treatment?  Or maybe the box is a monthly treat box and gets delivered anyway?  After ll you have the van, and most of your customers are local?  It simply gives you a way to set your business apart.

Call Dave DeCamella for more information and a Non-Disclosure Agreement to hear more about thisPort Richie Pet Grooming Business for sale.

Source: https://buysellbizfl.com
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