Ryan Weir - How to Buy a Business

As the owner of Walker Weir Property Management, Ryan Weir possesses extended knowledge of property and business purchases. Buying an existing business can offer various potential advantages, including an established customer base.

 

Potential Cons
Before deciding to buy an existing business, one has to consider the potential downsides of a RWH transaction. Since acquired ventures often come with an infrastructure and an established customer base, the price can be significantly higher than the combined costs of starting a new venture, even if it involves construction. Another potentially negative aspect is hidden issues. The business could be in debt, or it could be owed money, leaving you with financial liabilities or assets that can be hard to collect.

Determining the Value
There are various methods for determining the value of a business.

Capitalised Earning
In a capitalised earning valuation, the investor determines the possible return on investment.

Excess Earning Method
This method is similar to capitalised earning, but it separates out the return of assets.

Cash Flow Method
This approach is usually used when the investor is trying to determine the size of the loan they can take out based on the cash flow of the business.

Balance Sheet Method
The balance sheet method requires the owner to value the company’s physical assets. The higher the value of his or her assets, the more their business is worth.

When Ryan Weir started his business, he carefully took every aspect of company valuation into consideration, and made sure that the financial situation was well in hand.
Sources:
https://www.sba.gov/starting-business/how-start-business/business-types/buying-existing-businesses
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Ryan Weir on the Importance of Public Relations

Most business owner looks at public relations as a free advertising tool, but Ryan Weir understands that this is an oversimplified and likely false notion.

PR is Not Free, but it has Great ROI

PR is not free, but it can provide a very good return on investment. Any campaign that has a big impact is likely to be costly, but if it can enhance brand recognition it worth the financial burden.

A Good Campaign is Creative 

When it comes to small businesses, a good campaign highlights a product’s or service’s strong points through creativity. In fact, the most effective campaigns manage to go even further than that by promoting the business at the same time. This can happen through the introduction of key members of the company. When you put a face on a product, it creates trust.

Innovation

Innovation always attracts attention. It can come from the product itself or it can be something else like a promotion or even certain operational processes of the company. And it can be anything that improves the perception and increases the general effectiveness of the campaign.

Charitable Contributions 

Charitable contributions are best when they are genuine, but that doesn’t mean that a company cannot reap the benefits of good actions. It is proven that charitable efforts improve the PR of a company, and if a good deed can be done during the process, it really is a win-win situation for everyone.
As the owner and leader of Walker Weir Property Management, Ryan Weir is well-versed in most PR guidelines.

Sources: http://smallbusiness.chron.com/importance-public-relations-organizational-effectiveness-77739.html
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