Should You Buy a Business Instead of Starting One? with Ben Strake Co-Founder & President of Premier M&A Advisors

Ben Strake is an award-winning M&A advisor, serial entrepreneur, and founder of Premier Business Brokers and Kodiak Business Valuations. With a background in hospitality and experience in business brokerage, Ben has built a career helping business owners maximize their exits and guiding entrepreneurs in acquiring companies. He was named one of Forbes' Next 1000 in 2021 and has played a key role in multiple successful business transitions and acquisitions. In this episode, Ben shares his expertise on business valuations, the role of multipliers, and how different factors such as customer concentration and key employees impact a company's worth. He also discusses strategies for scaling businesses, the importance of finding the right team, and how entrepreneurs can transition from working in their businesses to working on them. Whether you're looking to sell your company or explore acquisitions, this episode is packed with valuable insights to help you navigate the business landscape. Connect with Raj Tut: Twitter: ⁠twitter.com/ItsRajTut⁠⁠ LinkedIn: ⁠https://www.linkedin.com/in/rajtut/⁠ Instagram: ⁠instagram.com/ItsRajTut⁠ TikTok: ⁠https://www.tiktok.com/@itsrajtut Connect with Ben Strake: https://www.linkedin.com/in/benjaminstrake/ https://www.kodiakvaluations.com/ https://www.premier-ma-advisors.com/ https://premierbb.com/ Timestamps: 00:00 Preview 01:00 Raj welcomes Ben Strake and his background in M&A 02:42 How Ben transitioned from hospitality to business ownership 08:39 The launch of Ben’s first business and lessons learned 12:23 How to value a business and what buyers look for 18:46 Key risks in business acquisitions and how to mitigate them 25:46 The baby boomer wealth transfer and market trends 29:16 Why roll-ups are a huge opportunity for business buyers 35:17 The importance of hiring the right people and company culture 41:08 Navigating challenges like COVID-19 in business 46:47 The key to forming strong business partnerships 50:01 Ben’s biggest advice for future business buyers and sellersThis podcast is brought to you by Storyboard Living.  If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email [email protected] Connect with us at our Website: https://storyboardliving.com/ LinkedIn profile: https://www.linkedin.com/company/storyboard-living/