“Prospective business owners should never purchase a business if they are afraid to get their hands dirty. However, the transition in roles from employee to owner means they shouldn’t have to get their hands dirty every day. That’s not the role of the business owner. Far too often a business valuation includes the day-to-day work of the owner. To capture an accurate assessment of a business, one needs to properly evaluate its value without day-to-day work from the owner. Otherwise a prospective business owner is not buying a business. They are buying a job.”
~Victor Reckmeyer II, founder of Reckmeyer Law LLC in Whitefish Bay
Read Tuesday’s Milwaukee Biz Blog by Reckmeyer: Buy a business, not a job.
