Multi-Unit Franchisee Magazine Issue III, 2013 | Page 81

there may be an adjustment to eliminate intercompany rent, non-recurring costs, or to normalize G&A to industry standards in the event an operator is expensing personal items through the company that result in an overstated G&A expense. But some sellers want to make unrealistic adjustments to their financials; these might include eliminating a valid operating expense or compensation. This is not the seller you want to be. Most buyers will figure this out quickly, and will perceive the seller with mistrust. The solutions are not always simple, but not having a solution is certain to derail your transaction. If you think you are really ready to sell, have you considered the points presented above? The solutions are not always simple, but not having a solution is certain to derail your transaction. Proactively deal with these issues early on, rather than reacting to them when they crop up during the process. Rely on your trusted advisor to help you navigate through the process to ensure a successful outcome. Dean Zuccarello, CEO and founder of The Cypress Group, has more than 30 years of financial and transactional experience in mergers, acquisitions, divestitures, strategic planning, and financing in the restaurant industry. The Cypress Group is a privately owned investment bank and advisory services firm focused exclusively on the multi-unit and franchise business for more than 22 years. Contact him at 303-680-4141 or [email protected]. Multi-Unit Franchisee Is s u e III, 2013  79