*He Was 80% Ready to Buy (Then the Financials Changed Everything) | S2 Ep 75*

*A million-dollar pool hall, handwritten books, and a buyer stuck at 50/50.*

Why is the owner really selling? Are you buying a business or inheriting their bookkeeping problem? What happens if the one employee holding everything together walks out? Brad found a pool hall with a great location, built-in leagues, regional tournaments, real estate, and at least 15 ways to grow. At one point, he was 80% ready to move forward. Then the diligence showed up. Handwritten receipts. Financials that don't match the size of a million-dollar-plus business. Questions about employees, vendors, software, contracts, customers, and hidden liabilities. His confidence dropped to 40%, then crawled back to 50/50. This is Part 2 of How to Buy a Business. The deal looks exciting. Now the assumptions have to survive the facts.

*YOU'LL DISCOVER* • Why "Why is the owner selling?" has to be your first question • How employees, customers, and vendor relationships become assets or liabilities • Why built-in leagues and recurring customers are expensive to recreate • What sloppy financials may be hiding beneath a profitable business • How to confirm the reasons you believe the business will succeed

*WHAT ACTUALLY WORKS* • Separate your love for the business from the economics • Study financial trends, not one good month or year • Talk to owners in the same industry before you buy • Use an attorney to protect against liens, contracts, and hidden liabilities

*WHO THESE GUYS ARE* Brian Balduf built and sold VHT Studios. Brad Balduf scaled By Your Side Autism to 11 centers and 550+ employees. Matt Croke hosts and asks the questions nobody else will.

*THE UNCOMFORTABLE TRUTH* "Liabilities are like landmines. They're all over the place." What would stop you from buying this pool hall? 👇 SUBSCRIBE for new episodes every Friday. Real stories. No LinkedIn energy.

*TIMESTAMPS* 0:00 - People Can Be Assets or Liabilities 0:56 - Is Brad Buying Baldi's Billiards? 1:36 - Why Is the Owner Really Selling? 4:14 - Valuing the Business and the Building 5:55 - Buying Built-In Customers 7:39 - 15 Reasons to Buy, One Big Financial Problem 9:01 - The Key Employee Risk 13:06 - Taking Emotion Out of the Deal 19:54 - When the Attorney Enters 25:11 - The Software the Seller May Not Own 27:37 - Ray's Landmine Warning

*ABOUT CEO BROS AFTER HOURS* CEO BROS: After Hours is raw business talk from CEO brothers Brian Balduf (VHT Studios) and Brad Balduf (By Your Side Autism Therapy) with host Matt Croke. Every Friday they share the failures, risks, and messy realities behind building companies. No corporate polish. No LinkedIn energy.

🍸 *WIND DOWN WITH THE BROS: THIS WEEK'S COCKTAILS* Three drinks for three buyer instincts. Pick the one that matches your position.

🍸 *THE FIFTY-FIFTY* Brad Balduf - The buyer who keeps moving the odds Recipe: • 1 oz bourbon • 1 oz rye whiskey • ¾ oz lemon juice • ½ oz maple syrup • 2 dashes bitters • Shake with ice, strain over fresh ice The Vibe: Brad went from 80% in to 40%, then landed back at 50/50. Two whiskeys split the decision while the financials decide which way it goes.

🍸 *THE PAPER TRAIL* Brian Balduf - The operator checking what the seller actually owns Recipe: • 2 oz aged rum • ½ oz coffee liqueur • ½ oz sweet vermouth • 2 dashes orange bitters • Stir with ice, strain into a coupe The Vibe: Handwritten receipts look harmless until they're attached to a million-dollar deal. Dark, layered, and best examined carefully.

🍸 *THE SKELETON KEY* Matt Croke - The host opening every locked door Recipe: • 1½ oz bourbon • ¾ oz elderflower liqueur • ¾ oz lemon juice • Ginger beer • Lemon peel • Shake first three, strain over ice, top with ginger beer The Vibe: Employees, vendors, contracts, software, customers. Matt keeps asking until the closet opens and every hidden problem has nowhere left to hide. Make all three. Buying in? Walking away? Still stuck at 50/50? Tag us.

*JOIN THE CONVERSATION* https://x.com/CeoBrosAH https://www.instagram.com/ceobrosah/ https://www.facebook.com/CEOBrosAH https://www.linkedin.com/company/ceo-bros

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