Meet Fayaz Karim Expert franchise evaluator Fayaz Karim has helped many aspiring business owners with their Subway franchises, and has helped to make all of his clients' businesses more profitable and successful. Read about his determination and drive that helped him become immensely successful.  

 1. Can you tell us about your business?

  I help people buy a business, evaluate it, and also help people sell a business. 

 2. How is your business doing?

  Business is picking up after a hit from the recession.

 3. What gets you going?

  The sense of satisfaction of having helped another buyer along his journey into the business world or a seller into his retirement or orderly exit to other ventures.

 4. What are your products and services, and key benefits?

  Buyer advice-cash flows, valuation, buying strategy, seller advice-valuation, selling strategy, buyer questions. Sometimes I represent both sides for a win-win and educate both sides individually to reduce any disagreements. 

 5. Who are your customers?

  Currently many Subway franchise buyers and sellers.

 6. Can you share a brief success story?

  A client with two Subway stores got into a disagreement with Subway at a local level. He went into arbitration and would have lost both stores. I rescued him by guiding buyers through the approval process with several mishaps. The result was a salvaged $800,000.

  Another client in South Carolina was going through nasty a divorce. His wife’s valuation representative said their businesses were worth $80,000, however I said they were worth $1.5 million less the bank loan owed. The perplexed judge asked his own valuation representative what the value was. The result: $1.2 million. Vindication.

 7. How do you find new customers, or how do new customers find you? 

  Mostly by word of mouth and from my website.

 8. What is your business challenge? What do you need to overcome this?

  Getting fully paid by buyers for valuable advice I give them. They are the clients, and they need buyer education (why should a seller pay for buyer education via commission?). In order to overcome this, all parties would need more education about the buy/sell process and my role in this process.

 9. What are your 2013-2014 goals? Did you achieve them?

  To open a business or franchise buyer school. This is currently on hold.

 10. Can you share some tips with our community?

  1) Never argue about price at the first meeting between buyer and seller. 2) Make sure there is a valid reason for the sale of the business, like retirement, burnout after 20 years, divorce, partnership split, etc. 3) Get a second opinion and debate the pros and cons of the deal, deal structure, your goals and a valuation. 4) Sellers need to be realistic on price, terms and need to be transparent throughout the deal.

Connect with Fayaz Karim on oGoing here:

http://www.ogoing.com/mrfranchiseman


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