"Experienced Firm Helps Buyers Find Right Business" Wednesday, 07 July 2010 16:14 By Evelyn Pyburn
With extensive experience in business and most especially in the campground business, there are few people better qualified to advise prospective campground buyers than John Halstvedt and Dan Singer. Recognizing a need and understanding the unique means they have of addressing that need, these two Billings men have started a new enterprise – Recreational Business Partners.
As their sub-title says, their business is that of “Connecting Buyers and Sellers” of recreational campgrounds, RV parks or resort cabins.
As veterans of an industry that was born in Billings, with the founding of Kampgrounds of America (KOA), Singer and Halstvedt, provide consultation services and training for individuals wanting to buy a recreational campground. The partners have both worked for KOA and in other aspects of the industry, developing an intricate knowledge about what it takes to run a campground, as well as the nuts and bolts, of financing and conducting a successful sale.
A cardinal rule for Recreational Business Partners is never to represent both the buyer and the seller. “We act as consultants, rather than a broker,” said Halstvedt. The difference is significant. A broker will list a business for sale and is paid a commission, explained Halstvedt, “His loyalty is 100 percent to the seller, which is as it should be. But no one is looking out for the buyer’s interests. So we are a buyer advocate. We work with them to buy the best, most profitable business we can find.”
Besides taking clients through a 22 step acquisition process, that leaves them prepared and confident about the venture upon which they are embarking, Recreational Business Partners will seek out prospective properties that may not appear to be on the market. “Everyone is competing for the 20 percent of the businesses that are on the market,” explained Singer, “but a lot of people would sell if it wouldn’t become known that their business is for sale.” Also, “a business owner doesn’t have to pay us; so quite often they will talk to us about their interest in selling when they wouldn’t to a broker,” said Singer.
These potential sellers are called the “hidden market,” and tapping into that market in regard to all kinds of businesses is the primary function of another business of Halstvedt’s – Partner On-Call. It is through this business that Halstvedt brings a “tried and true” method of helping a prospective buyer and connecting them with sellers – quite often “hidden sellers.” Partner On-Call is a network of some twenty offices across the country of authorized “Business Buyer Advocates” working together. Halstvedt brings this process to the more specialized market upon which Recreational Business Partners concentrates.
Another important part of the service that Recreational Business Partners provides for their clients is the assembling of an advisory team, including the client’s attorney and accountant, and quite often a certified business appraiser, to provide broader expertise.
“We find out what business really does suit them,” said Singer, “and then begin to help them with a resume and financial statements and an understanding of negotiations. We teach them about a search system we use and how to conduct ‘the job interview of their life,.’’ “We help them take the emotion out of buying a recreational business,” continued Singer, pointing out that while the desire to own a recreational business is quite often emotion -driven, it is no way to go about actually buying the business.
Brokers involved in the sale of other business have embraced the concept behind "Partner" On-Call. “They love working with people who have been trained,” said Singer, “The buyers are prepared and more confident about what they are doing, and it works out better for everyone involved.”
Besides providing their consulting services to buyers, Recreational Business Partners are available to advise business owners who want to sell. “We work with sellers to help them prepare a business for sell,” said Halstvedt, “We can help them make their business more valuable.” “We can help them understand what is going to drive value,” said Singer. Adding that in reality from the first day that a person begins a business, they know they are probably going to sell it one day and should start keeping records with that in mind from the very beginning.
“Business owners always want to know what their business is worth, and we have ways of helping people know that,” said Singer.
They can also help to improve the profitability of an existing business. In fact, during troubled economies, that becomes many business owners’ primary focus. “We are kind of contrarians,” said Singer, “during times like this more business owners are interested in improving their businesses. It kind of weeds out the good from the bad, so there’s a whole lot more going on.”
The partners are excited about their new venture, because both of them love the campground business – “It is fun just talking about the business.” “We spent a lot of years working in the campground business,” said Singer, “We sold a lot of campgrounds and John owned a campground.”
Company offices are at 3860 Avenue B, Ste. C West in Billings. Their website is: recreationalbusinesspartners.com.
Entrepreneurs: Being part of network helps business adviser
Gazette Staff | Posted: Sunday, November 8, 2009
LARRY MAYER/Gazette Staff
John Halstvedt, of “Partner” On Call Network, has been in the business of selling businesses since 1987.
Most people hunting for a business to buy eventually give up. And most businesses for sale never do find a buyer.
The reason, said John Halstvedt, is frustration "due to poor communication between buyers and sellers, errors of omission and a lack of education and preparation."
Halstvedt is a something like a marriage broker, bringing buyers and sellers together, helping them work through all the research and options and paperwork.
"I have always enjoyed the educational side of the business and wanted to spend more time working with people to succeed at finding and improving small to midsized businesses," said Halstvedt, who owns and runs the regional office of "Partner" On-Call Network at 3860 Avenue B, Suite C West, in Billings.
And, he's practiced what he preaches by buying, improving and selling several small businesses. Halstvedt can be reached at 294-3860 or through his Web site,
www.partneroncall.com/johnhalstvedt. Here's what else he had to say about building a business by building businesses:
Nature of the business:
I am a partner in a national business consulting firm called "Partner" On-Call Network. Our system was started in 1974 to help clients buy, start, improve, finance, value and sell businesses. We work as a "Business Buyer Advocate" to help individuals or companies find mature, profitable businesses that are usually not on the market for sale. We then assist with due diligence, financing, valuation and deal making.
We also work with existing businesses to grow through acquisition, maximize profits, develop business plans, arrange financing and prepare their business for a future sale. Our business is making our clients' business more valuable.
Why start this business?
I had gradually been changing from selling businesses as a broker to working as a consultant.
Where did startup funding come from?
Personal funds.
How long have you been in business?
I have been a small-business owner since 1977 and started selling businesses in 1987. By having real-life experience at business ownership, I can better relate to my clients as they are trying to buy or improve a business.
Your biggest challenge during the current recession?
Getting business owners to understand that they will come out of the recession so much stronger if they invest in good decisions now. Business owners and potential business owners often know a lot, but they "don't know what they don't know." We don't know everything either, but we are constantly reaching out to other professional advisers to find the information.
What was done to overcome those challenges?
Partnering with a national organization has given me so many more ways to work with people. We have training and support for multiple business services, and I have access to the expertise of over 500 years of collective experience with our national network of consultants. We help each other similar to the way the large professional practices involve partners and associates on cases.
What is being done to expand the business?
I set aside a day per week just to meet new people. Most of our business is from referrals, and even very small projects lead to happy clients who grow into larger businesses.
Your best business decisions?
Understanding that the Internet is a great way to transfer information, but not a great way to work with people and solve their problems. I am now constantly finding ways to meet with people to share ideas and solutions. I work with some clients as little as an hour per month.
Your worst business mistake?
Trying to be a one-man operation. Although I had total control, I limited my ability to work with people. I was interested in working on large transactions and much of the business was not in this area. I am happier now with more variety.
What advice do you have for someone running a business?
Don't feel like you need to know everything yourself. The most successful business people are the ones who will use advisers to help their business prosper. Owners are so busy being busy they don't have time or energy to identify everything that is wrong with their business or contemplate how to fix it.
Number of workers?
I am the only person in the local office.
What's your five-year plan for the business?
I am pleased with slow, steady growth. I am at the point in life where I can work for personal enjoyment, not just money. Our two sons did just start college this fall though, so I am not turning down money.
A question you would ask other entrepreneurs?
Do know how to position your business so you can retire when you're ready?
If you weren't doing what you are now, what would be your dream job?
It becomes more obvious each day that I will not become a professional golfer, so I think I am where I belong.
John Halstvedt opens first Montana office of “Partner” On-Call Network
Billings, MT – John Halstvedt was looking to supercharge his dealmaking career. A business broker for 22 years, he facilitated sellers and buyers so they could achieve a done deal but he could not, due to conflict of interest, provide buyers with all the guidance they need to access all the businesses for sale, evaluate companies and make a profitable acquisition. This made him search for a better way. He found it when he met a Business Buyer Advocate at “Partner” On-Call Network LLC. He liked what he saw so much, in April 2009, Halstvedt became a member of “Partner” On-Call Network.
Founded in June 2005, “Partner” On-Call Network is a business opportunity that enables people who have been successful in business to become a business consultant using their experience and founder Ted J. Leverette’s successful 30 year old business model.
Halstvedt has an impressive background to support his consulting capabilities, which includes a variety of startup businesses and acquisitions in retail, distribution, service and construction. In 1987 John started his M&A experience with a leading national franchise company. John has specialized in pre-sale planning and business improvement for large and small businesses. Broad industry knowledge across various industries, enable him to guide his clients as they grow their company to the next level.
“When I discovered POCN, I recognized it was a great opportunity for me to share my passion for buying and selling businesses and my insights into building and managing companies,” says Halstvedt. “I am truly honored to be part of this elite and innovative group where my clients have the benefit of the 500 year collective experience of our Business Buyer Advocates and “Partner” On-Call.”
“Partner” On-Call also serve entrepreneurs who want to start a company and sellers of established companies. POCN offers a complete menu of services to facilitate a safe, profitable transaction for all parties involved including business search, due diligence, financing, valuation and post-acquisition service for business buyers.
Working as a Business Buyer Advocate, a “Partner” On-Call introduces clients to profitable businesses quietly for sale by-owner on the “hidden” market. “In my role as a Business Buyer Advocate I’m not a business broker and I don’t compete with them,” Halstvedt assures his clients.
“POCN Business Buyer Advocates do not represent business sellers but a lot of businesses sell because we connect our buyers to sellers that contact us looking for a buyer. Sellers love our role as a Business Buyer Advocate. We introduce buyers to companies quietly for sale by-owner on the hidden market, which means these sellers avoid paying a sales commission that can be as much as 12% of the purchase price. We also provide street-smart guidance to buyers who want to purchase a business listed for sale by business brokers. Brokers appreciate what we bring to the table, which is educating and guiding buyers so they do not waste the time of brokers and their sellers.”
“We discourage buyers from purchasing mediocre businesses,” says Halstvedt. “We introduce capable buyers to mature, profitable, fairly priced companies.”
According to Ted Leverette, “the safest, fastest, most economical way to grow a small or midsize business is by mergers and acquisitions. It’s also the most profitable growth strategy. We strive to be the Go-To Team for Done Deals.”
A free Business Buyer Protection Report and other how-to information are available at John Halstvedt’s website: Partneroncall.com/JohnHalstvedt.
POCN seeks “Partners” in every state.
John Halstvedt
“Partner” On-Call Network
Partneroncall.com/JohnHalstvedt