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  • Writer's pictureMarc Ebinger

The Informed Way: Learning the Ins and Outs of Buying a Business for Successful Negotiations

In our quest to uncover the intricacies of entrepreneurship, the show brings together insightful interviews with experts from various industries, shedding light on their experiences, challenges, and triumphs. Let's Talk Business host Marc Ebinger and co-host Howie Nestel have the pleasure of speaking with Keaton Frieberg and Shanna Schulze, lawyers known for their legal expertise at Texas Suits Law Firm, who will share their knowledge on the ins and outs of buying a business for successful negotiations. So, if you are passionate about entrepreneurship and keen to learn from experienced professionals in the field, you are in for a treat! With Marc and Howie, let's continue our journey into the entrepreneurial landscape and explore some crucial aspects that can help you thrive in the world of business.

Meet the Guests: Keaton Frieberg and Shanna Schulze


Keaton Frieberg: The Legal Maestro

Keaton Frieberg is a lawyer, specializing in real estate and business law. His wealth of knowledge in these fields makes him a valuable asset and a partner at Texas Suits Law Firm. As we listened to Keaton on the podcast, it was clear that his passion for his work extends beyond the courtroom. He's not just about winning cases; he's about helping his clients navigate the complex world of real estate and business with confidence.


Shanna Schulze: The Texas Transactional Attorney

Shanna Schulze, another star in the Texas Suits Law Firm constellation, brings a unique perspective to the table. As a transactional attorney licensed in Texas, Shanna is all about facilitating smooth business transactions. Her insights into the intricacies of legal documentation and negotiations make her a force to be reckoned with in the legal field.


A Glimpse into the Hosts' Worlds


Before we continue into the episode, let's get to know the hosts of "Let's Talk Business." Howie Nestel, the show's co-host, owns Sharkmatic Advertising, where he specializes in website development. Howie's expertise in the digital realm adds a modern twist to the discussions. On the other hand, Marc Ebinger runs Crükus Marketing Agency, which focuses on hiring virtual admin specialists and social media experts. Their combined expertise ensures that "Let's Talk Business" provides listeners with a well-rounded perspective on entrepreneurship.


Passion Beyond Profit: Non-Profit Involvement

One fascinating aspect of this episode is the discussion on non-profit work. It's heartwarming to see how professionals like Shanna and Keaton are not just committed to their legal careers but also deeply involved in non-profit organizations. Shanna Schulze, in particular, wears multiple hats, serving as the Executive Director of "So Live." This organization is dedicated to promoting unconventional cancer treatments and health and wellness practices. Their motto, "Surround yourself with food, water, sunlight, rest, meditation, and prayer," resonates with those seeking holistic well-being.


The Placebo Effect: More Than Meets the Eye


During the podcast, the hosts touched upon the placebo effect, a topic that piques the curiosity of many. It's not just about tricking the mind; the placebo effect has a profound impact on our perception of health and wellness. Understanding how this phenomenon works can have implications not only in the medical field but also in business and marketing.


The Transition from Legal Practice to Non-Profit Pursuits


One of the key takeaways from the episode is the discussion on transitioning from a legal practice to a non-profit work driven by creative passions. Shanna Schulze's journey serves as an inspiration for anyone contemplating a similar shift in their career. It's a reminder that it's never too late to pursue your passions and make a meaningful impact in the community.


The Ins and Outs of Buying a Business


If you've ever considered buying a business, this episode provides valuable insights. Whether you're interested in purchasing assets or acquiring the entire legal entity, there's a lot to consider. The hosts shed light on terms like "Blue Sky," which represents the intangible value, like goodwill, in a business. Understanding these terms is crucial for making informed business decisions.


Business Purchase Strategy that Drives Successful Negotiations


Leases are an integral part of many business purchases, and negotiating the terms can be a complex process. In this episode, we learn that careful consideration and negotiation are essential when dealing with leases. Whether you're a seasoned entrepreneur or a budding business owner, these insights can help you avoid potential pitfalls.


The Business of Franchising Explained


Now, let's talk about franchising! The episode further discussed the business of franchising, offering a glimpse into what it really means to franchise (a business). Contrary to popular belief, franchising isn't about creating one massive business empire; it's about establishing a network of independently owned and operated locations. Here are some key takeaways:


What is Franchising?

1.) When you franchise a business, you're essentially licensing the right for someone else to use your brand, dietary ingredients, corporate environment, and more.

2.) Franchising involves independently owned and operated entities.


Examples of Successful Franchises

Some renowned examples of successful franchises include Chick-fil-A, Starbucks (although many locations are company-owned), and Subway sandwiches. These brands have achieved consistency in branding and customer experience through franchising;


Consistency in Branding and Customer Experience

One of the primary benefits of franchising is the ability to maintain consistency in branding and customer experience across multiple locations. Franchisors provide franchisees with established systems, training, and support to ensure uniformity. This consistency is a key factor in attracting and retaining customers.


Rules and Regulations in Franchising

However, it's not all sunshine and rainbows in the world of franchising. The hosts emphasize that franchising comes with specific rules and regulations that must be followed in the letter. Failure to comply can lead to legal issues that could potentially jeopardize your business.


A Nod to Popular Culture: "Suits" and "Judge Judy"


As the episode draws to a close, the hosts indulge in a bit of pop culture talk. "Suits" and "Judge Judy" make an appearance in the conversation. It's a reminder that even business aficionados can enjoy a little TV time now and then.


"Let's Talk Business" provides a captivating and informative platform for anyone interested in entrepreneurship, business law, or simply gaining insights into the world of successful professionals. Keaton Frieberg and Shanna Schulze from Texas Suits Law Firm, along with hosts Marc Ebinger and Howie Nestel, offer a delightful mix of expertise, passion, and inspiration. Whether you're a seasoned entrepreneur or just starting your journey, this episode has something valuable to offer.


 

Don't miss out on the opportunity to expand your business knowledge and join the conversation with us at Let's Talk Business!




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