Family Offices for Searchers: A Primer

When many entrepreneurs in our world think of exiting, they think of private equity. PE is firmly established as the most. Active buyer of private businesses.

Now there are also strategic buyers you might even sell to another searcher, but for all intents and purposes, PE is the default. But there's another category of buyer, another capital base that we should be considering, according to today's guest, James Bohannon. And that is family offices.

Now, you probably have a vague notion of what a family office is, but I brought on James to really explain this world to us and how buyers and owners of small businesses should think much more about family offices as partners when it comes time to exit or maybe just recapitalize a thriving business or even provide equity when you buy a business in the first place.

This episode is a primer on family offices, and hopefully it opens your eyes, as it did mine, to the potential partnership between our world and theirs. Here is James Bohannon, Senior Vice President at Belzberg and Co. Welcome to Acquiring Minds, a podcast about buying businesses.

My name is Will Smith. Acquiring an existing business is an awesome opportunity for many entrepreneurs, and on this podcast I talk to the people who do it. Running payroll, paying your bills, closing your books, and producing financials.

These are critical tasks every business owner must do or oversee. But spending time on them distracts you from the leadership and growth work you want to do. So let system 6 do it for you.

Owned and led by a former Searcher, Chris Williams, System 6 is a leading outsourced finance team for hundreds of SMBs, including over 50 searcher acquired businesses. Chris, Tim and the System 6 team understand firsthand how the challenges, the opportunities of jumping into a business as its new owner.

So whether you own your business already or have one under LOI, talk to System 6 about how they can give you time back and improve your financial operations. Mention Acquiring Minds and they'll provide a free review of your books and financial ops. A $500 value. Check out system6.com link in the show notes or email helloystem6.com.

James Bohannon welcome to Acquiring Minds. Thank you. Good to be here. James, you are a Senior Vice President. At Belzberg & Co. A family office. And today you are going to talk about exactly that.

Family offices and their relevance to entrepreneurs. Buying or selling small businesses. Now, probably everyone listening will know what.

A family office is, but I bet they won't really know much. Even having been in this world for a few years myself. To me, family offices still seem opaque, insular, inaccessible.

I just know that they control a lot of Capital that moves throughout the lower middle market. And so what we'll do today is. Have you pull back the curtain and.