Business for Sale: Mid-Atlantic Consulting Firm – Under LOI

Business for Sale: Mid-Atlantic Consulting Firm – Under LOI

A Letter of Intent has been signed for this business. Harvest Business Advisors is now working with the seller and buyer for a successful transaction.

Harvest Business Advisors presents a well-regarded analysis/litigation consulting firm for sale.

Located in the Mid-Atlantic region, this firm has proven expertise in analyzing, assessing and resolving critical issues regarding software, intellectual property, managed services agreements, and other IT matters.

Company clients and work extends nationally and internationally. Company is fully staffed and self-supporting.

Key Features:

  • Average revenues of $2,900,000 with $700,000 seller’s discretionary earnings.
  • Outstanding growth opportunity in the  Mid-Atlantic market due to well-defined technology niche
  • Diverse customer base of leading law firms
  • Experienced long-term senior staff

 

Industries of Expertise include:

  • Information Technology
  • Manufacturing
  • Government Contractors
  • Environment
  • Education
  • Healthcare
  • Energy

A strong merger/acquisition opportunity for a legal practice that would like to expand and/or diversify their current services.

Seller will consider small second trust.

Click here for a Non-Disclosure Agreement and Finance Document.

Open with Adobe Reader, use their Fill and Sign Feature to complete and electronically sign the document, then return to GCaruso@HarvestBusiness.com.

We will then be able to discuss financial details and other confidential information about the business with you.


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

State by State “Reopening” Status

State by State “Reopening” Status

Harvest Business Advisors serves businesses in multiple states. Our brokers have been carefully tracking how the state governors have been dealing with the COVID-19 crisis – and watching how they are approaching “re-opening” their state’s businesses. It’s a delicate balance between public health and the health of the economy, between protecting worker’s safety and providing a safety net for business.

Here is a recap of recent statements by each state in our service area:

Maryland

Other than keeping Marylanders safe and saving lives by defeating COVID-19, there is absolutely nothing more important to me than getting people back to work and getting businesses reopened. I want to get people back on their feet and get our economy back on track. We will do that as quickly as we possibly can in a safe, gradual and effective way.” Said Governor Larry Hogan as he unveiled the state’s Maryland Strong Road to Recovery   plan on April 24, 2020. The Road to Recovery identifies key risk factors milestones which are broad in character and contains components within each stage.

Schools will remain closed for this school year.

Virginia

Gov. Ralph Northam issued a stay-at-home order effective until June 10. A separate executive order that restricted certain businesses and crowds of more than 10 people will expire May 14. Governor Northam recently suggested some restrictions may be lifted, a “soft” re-open but has not yet provided specific details.

On April 24, Governor Northam shared the progress made by Virginia and a blueprint for phases for reopening the state if certain health benchmarks are met and maintained.

Schools will be closed for the remainder of the school year.

Elective surgery and dental procedures in Virginia were allowed to resume on May 1.

Washington D.C.

On April 23,  Washington DC Mayor Muriel Bowser has created a “ReOpen DC” Advisory Group which will include experts from the Johns Hopkins Bloomberg School of Public Health.

“ReOpen DC is about working together as a community to reopen Washington, DC in a way that is safe and sustainable. Together, we will create a plan that is based in science and tailored to the needs of our community.” said Mayor Bowser.

ReOpen DC has defined on three phases of reopening:

  • Emergency Response – Where we are now
  • Stabilization – what ReopenDC will focus on, which involves relaxing restrictions but closely monitoring and quickly responding to negative metrics
  • Long-term Recovery – How we find a new, more resilient normal. Likely started once a vaccine is widely available

 

New Jersey

“Extending this declaration ensures that we can continue using every resource at our disposal to mitigate the spread of COVID-19,”said Governor Murphy.“But I want to ensure that this extension is not interpreted to mean that we are reconsidering our path forward or changing course on the principles I laid out last week in the Road Back plan. We will continue to stand by these principles and protect public health as we responsibly take steps to get the economy moving again.”

Schools will remain closed through this school year.

Governor Murphy introduced New Jersey’s “Road Back Plan” that covered economic recovery and public health needs.

Pennsylvania

The commonwealth of Pennsylvania released their Return to Work Plan, determined by county statistics and milestones and specifies Work and Congregate Setting Restrictions and Social Restrictions in phases.

“We are planning for the days and weeks ahead when we will not only safely return Pennsylvanians to work but return to a different and more resilient Pennsylvania. While we cannot be certain of the future path of this disease, our decisions will be driven first by prioritizing the health and safety of all Pennsylvanians.

To that end, the Commonwealth is partnering with Carnegie Mellon University (CMU) to create a data-driven decision support tool that will enable a balance between maximizing the results of our economy while minimizing public health risks”.  said Governor Wolf.

Note: Pennsylvania and New Jersey are part of a coalition of northeastern states coordinating the reopening of the economy safely in that region.

Harvest Business Advisors encourages all our colleagues to continue to protect their health and the health of their employees. We can help you with your business health – and would welcome a conversation about how you can not only survive now, but prepare your business for the eventual rebound. Feel free to connect with us


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.
Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia.
Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

Articles and Data Relating to Your Business and Coronavirus

Articles and Data Relating to Your Business and Coronavirus

Harvest Business Advisors have created this collection of current articles that may be of interest to sellers, buyers, business owners and advisors relating to Coronavirus, industry and the economy.

We are always available to discuss how this might impact you, those close to you, and your business.

We hope you find these helpful.


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.
Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia.
Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

After the Covid-19 Shock, What’s Next for Your Business?

After the Covid-19 Shock, What’s Next for Your Business?

You have made the initial quick adjustments to your business to deal with coronavirus shutdowns and covid-19 shelter in place directives.  Hopefully your business is stabilized for now and everyone is safe.   But for most businesses the future is unlikely to look like the past.  For most business owners determining and preparing for changes as the ramp-up back from the coronavirus shut down begins is unclear.

How do you prepare your business, including your employees, customers, suppliers, and others for the future with all this uncertainty?

  • Business planning, strategy, and role playing after covid-19.  Develop a simple easy-to-adjust cash flow projection, key indicators, and bullet point improvement plan for the next 12 months. Overly complex projections will actually impede what needs to be understood.  A simple model that captures the big risks and rewards is perfect.  In the end you want to develop a few pages you actually use.   Run “Best”, “Likely” and “25% below the worst you can imagine” scenarios. Look at how to increase revenues and cut costs.  Work it through to staffing, possible renegotiations on fixed costs, etc.  Bounce this off trusted family members, key employees and advisors.  Talk about it with anyone with business sense you respect and trust that will work through it with you.  This will open up possibilities and solutions so as things happen (good and bad) you will have already given thought to many situations and can make decisions from a place of reason, not just emotion.
  • On a daily basis monitor sales, variable expenses, and cash (as necessary).  Revenues and cash flow are the equivalent of blood.  You must keep some in the business and stay focused on small day to day matters that improve business sales, reduce expenses, and protect business cash flow.
  • If possible, particularly for businesses with substantial contracts, keep your fingers on future sales. Stay in touch with key customers, key suppliers, and politely ask difficult questions essential to your survival.  Is the contract funded?  How will future payments be made?  How is timing of awards in the pipeline expected to change? Are suppliers able to perform?  etc.   For many contractors and others, status WILL change over time as your clients better understand how the response to coronavirus is affecting them and adjust.  Check at least monthly.  Check more if that makes sense.  Make tough decisions early.  Don’t delay.
  • Grow key people. Now is a time where they can shine.  How can you help them take the next steps in responsibility and decision making?  Adjust systems for virtual workers and actual volumes to keep control but not over-control.
  • Communicate and Lead. Leadership counts in times like these.  Covid-19 is scary particularly where many people are infected and ill.  What specific measures are your business instituting to keep people safe?  A communication vacuum allows fear to grow.  People want to know how they are going to come out of this crisis.  What is the plan today, tomorrow, and the next day.  They also realize plans are going to change as necessary.  Treat your employees like the adults they are.  Deliver bad news with empathy and include what is being done to overcome obstacles.

Planning sometimes seems like a silly thing in a crisis but it is your chance to work through options and generate ideas early.  Like the Boy Scouts always said, “Be Prepared”.   That is still very good advice.

We have communication, projection and cash flow tools and experience to assist you in your business planning and preparation. Should you be looking for guidance or support, please reach out.

Greg Caruso, JD, CPA, CVA  Partner, Harvest Business, LLC    |     609-664-7955  GCaruso@HarvestBusiness.com


Clients choose Harvest Business Advisors for our accurate business valuations and our consistent ability to deliver a high price as part of a smooth exit transaction.
Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia.
Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

SBA – Resource Round-Up – March 31, 2020

SBA – Resource Round-Up – March 31, 2020

The Small Business Administration now has a page on their website dedicated to Small Business
Guidance and Loan Resources regarding Coronavirus (COVID-19).

There you can quickly access information about:

Each local region also has resources available:
Maryland District Office
New Jersey District Office
Pennsylvania (Eastern) District Office
Virginia District Office
Washington Metropolitan District Office

In addition, the SBA is also offering regular webinars on applying for SBA Disaster Loans.

Be certain to check with your local and state Economic Development Administration for additional
support and resources. Many are offering grants to help businesses weather this crisis.

We are reviewing the CARES Act passed by Congress and will more to share about that legislation and
how it may benefit businesses very soon.

We hope you and your family and your employees are doing well and doing what you can to “flatten the
curve” to shorten this down time and return to normal soon. We are here and would be happy to
connect if you need to talk.


Clients choose Harvest Business Advisors for our sage advice on profitably growing their business, accurate business valuations, and when the time is right, a consistent ability to deliver a high price as part of a smooth exit transaction.

Harvest Business Advisors provides business brokerage, business valuation, and business succession planning services. We have extensive experience in the information technology and professional services, manufacturing, distribution, and contracting fields. We maintain offices in Maryland, New Jersey and Virginia. Connect with us at info@harvestbusiness.com or 877-838-4966 to discuss selling your business, ordering a business valuation or buying a business.

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