Welcome to the Main Street Business Podcast with your distinguished hosts, Mark J. Kohler and Matt Sorensen.

Both are best-selling authors and have over 25 years of industry experience with 10,000 client consultations,

making them the leading tax and legal experts in the nation.

Together, they'll unpack the most complex tax, legal, and financial strategies,

crucial for saving more,

stressing less, and building generational wealth.

Today, they're your personal advisors.

Ready to break it down for you and make the tax and legal game easier than ever.

Here is Mark and Matt.

Some sellers would be like, oh, yeah, I'm going to play golf the rest of my life.

I'm out of here. We don't need to sign a non-compete. I don't care. Trust me, six months from now, this guy or gal, they're going to be bored out of their gourd. It's kind of like buying a car. There needs to be some gas in the tank for me to get the damn thing home. I don't just buy the business and there's not a cent in there. I just cashed you out. I just gave

you a bunch of money. Do I have at least a month or two of working capital in the business account?

I hate the quote that's out there. Three out of five small businesses end in less than five years

that businesses fail all the time. No. My business owners, they pivot. The business is not going to look the same

three years from now. And that's okay. That's what business is about. Welcome, everyone,

the Main Street Business Podcast. This is Matt Sorensen, joined by the great and powerful Mark

J. Kohler, and we are on Buying a business, part do. Wow, you're going to throw it on another language? Okay. Part dos. All right. I don't know what language you were talking there. I guess a little French. Wow. It's very sophisticated. Yeah, you are. Folks, this is going to be a good one. We're going to hit a bunch of topics here. And like the first part, we're going to riff back and forth, see where we go with this, because there's just so much. So in this short video, we're going to try to cover things like the tax issue, the legal issues, how you should structure it. What's that purchase agreement look like? What entity you

should choose? What type of financing you might use? We're just going to kind of riff again on a

variety of topics that I think are just really important in this chunky, meaty, structured legal

tax. Yeah. And we are two business and tax lawyers. We've helped clients buy businesses. We have

attorneys in our office helping a client every week, buy or sell a business. We have really good

perspective on this. And the first part of this is about structuring the deal. How should I structure

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