Transaction Talk
Business broker Jennifer Fox and attorney Eric Sigman team up to provide a 360-degree view of the current Boston Business for-sale market. From buying and selling to franchising and everything in between, Transaction Talk breaks down the deal process from a business, brokerage, and legal perspective. A resource for business owners, buyers and entrepreneurs, Transaction Talk offers interviews and real-life deal experiences from industry experts and key transaction players.
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Expanding Your Business Through Franchising
<p>How can a business successfully expand through franchising? Franchise Consultant Mike Martuza draws on more than 20 years of industry experience to explore franchising from the franchisor's perspective. We unpack the foundations of a successful franchise model: building systems that can be replicated, ensuring the business is profitable, and clearly defining what sets it apart. Mike also explains why franchising isn't right for every business, how managing franchisees differs from running a business yourself, and what to consider before making the decision to franchise. Once franchising is on the table, we look at how to shape the opportunity for growth, fr...
The Deal Fell Apart… Now What? How Business Owners Can Recover After a Failed Sale
<p>A signed letter of intent is not a closed deal, and a failed sale does not mean a business cannot be sold. In this episode of Transaction Talk, Jennifer Fox and Eric Sigman explain why transactions fall apart and how owners can recover, regroup, and return to the market in a stronger position. They discuss financing problems, changes in business performance, landlord complications, customer concentration, due diligence concerns, and buyers who get cold feet. Jennifer and Eric also explain how early disclosure, organized records, steady operations, and experienced advisors can prevent manageable issues from becoming deal killers. They share...
Understanding Working Capital in Business Sales: What Every Buyer & Seller Needs to Know
<p>What is working capital, and why does it become one of the most negotiated—and misunderstood—aspects of a business sale? In this episode of Transaction Talk, Jennifer Fox and Eric Sigman welcome back Aaron Fox, Managing Director of Transworld Business Advisors of Boston, to break down one of the most important concepts in M&A. Aaron explains what working capital is, how buyers and sellers establish a working capital "peg," why it shouldn't be viewed as a reduction in the purchase price, and how proper planning can help prevent surprises at the closing table. You'll also learn the impo...
Why Every Business Owner Should Be Networking
<p>Strong business relationships are rarely built from a single meeting or a stack of business cards. They develop through trust, consistency, and a genuine interest in helping others succeed. In this episode of Transaction Talk, Jennifer Fox and Eric Sigman welcome Joe Chatham, Managing Partner of USA 500 Clubs, to discuss why networking remains one of the most valuable tools available to business owners and professional advisors. Joe explains the difference between a lead and a trusted referral, why strong introductions can remove barriers during transactions, and how social capital influences who people are willing to recommend. He also shares...
How Poor Confidentiality Can Destroy a Business Sale Before it Closes
<p>Most owners focus on valuation, buyers, and negotiation, but a confidentiality breach can really derail a deal before it ever reaches the closing table. During this episode, Transworld Boston Business Broker Greg Young makes his debut on Transaction Talk to explore why confidentiality is so important to business transactions. Join us as we unpack the harm that can happen to employee, buyer, seller, and supplier relationships when confidentiality is not protected, and how to work with your professionals to ensure this isn't the case for your business. We talk about the importance of a non-disclosure agreement (NDA), how to...
Understanding Reps, Warranties & Deal Risk
<p>A strong purchase price does not mean much if the agreement leaves one party exposed to unexpected liability after closing. In this episode of Transaction Talk, hosts Jennifer Fox and Eric Sigman break down representations, warranties, and indemnification provisions in mergers and acquisitions. Eric explains the difference between representations and warranties, what they cover, and the associated provisions. They discuss why these provisions remain important after a transaction closes, how buyers can seek compensation when a warranty is breached, and how escrow funds, seller notes, and survival periods provide financial protection. They also explore common claims involving inaccurate financials...
Why Small Businesses Matter to Our Communities with Gregory Giacopelli
<p>Welcome back to Transaction Talk! Today, we are joined by VP and Business Banking Relationship Manager (RM) at Eastern Bank, Gregory Giacopelli, to discuss small businesses and their impact on communities. Tuning in, you'll hear all about why Gregory believes small businesses are important to communities from a banker's perspective, how Gregory defines a small business, and why banking relationships with small businesses matter so much. We delve into the biggest mistakes Gregory sees business owners make before discussing the role the bank plays in succession planning, growth, sales, and acquisitions of businesses, as well as how successful transactions...
What is My Business Worth - How Valuations are Made
<p>What is a business really worth, and why do buyers and sellers so often see that number differently? In this episode of Transaction Talk, Jennifer Fox and Eric Sigman sit down with Louis Pereira of Merrimack Business Appraisers to unpack how business valuations are actually determined and why preparation plays such a major role in maximizing value. Drawing on decades of experience in business brokerage, mergers and acquisitions, and valuation work, Louis explains the financial metrics buyers focus on, including EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), seller's discretionary earnings (SDE), cash flow, and valuation multiples. The conversation...
Top 5 Deal Killers With Aaron Fox
<p>What causes a business sale to fall apart before it reaches the closing table? In this episode of Transaction Talk, hosts Jennifer Fox and Eric Sigman welcome back Aaron Fox, Managing Director of Transworld Business Advisors Boston, to discuss why deals often break down, what warning signs owners should watch for, and how better preparation can keep a transaction moving forward. Aaron walks through the most common deal killers, including poor books and records, inconsistent financials, and a lack of supporting documentation. He also explains why lease issues can create major risk for buyers, how working with only one...
Inside the Buyer's Mind: Who's Buying & What Industries
<p>What are buyers really looking for in today's deal market? In this episode of Transaction Talk, Jennifer Fox and Eric Sigman are joined by Steven Smith of Business Transfers & Strategies, a buy-side advisor who works closely with individual buyers, private equity groups, and strategic acquirers. He breaks down how each type of buyer approaches acquisitions and what drives their decisions, from growth potential and scalability to long-term alignment. The conversation also explores shifting industry trends, key risks shaping buyer behavior, and what can make or break a deal during the process. Throughout, Steven emphasizes a central theme: success in...
