Claim OwnershipHow To Buy And Sell A Business
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Foreman Law presents the How To Buy And Sell a Business Podcast with hosts Sam Foreman, Business Attorney at Foreman Law, and Jacob Wayman, owner of Orange Theory Fitness in Wichita, Kansas.
The goal of the podcast is to educate, equip, and empower you to have a successful deal process whether you are buying or selling a business, or simply want to learn more about what that process is like.
Legal topics discussed on this podcast are for general purpose information only. No client attorney relationship is being formed by this podcast. Find out more information at GoForemanLaw.com
The goal of the podcast is to educate, equip, and empower you to have a successful deal process whether you are buying or selling a business, or simply want to learn more about what that process is like.
Legal topics discussed on this podcast are for general purpose information only. No client attorney relationship is being formed by this podcast. Find out more information at GoForemanLaw.com
58 Episodes
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Co-hosts Sam Foreman and Jacob Wayman are joined by Ben Renn, AVP, Business Banker at Emprise Bank, and Jill Garcia, SBA Administrator, Emprise Bank, to discuss using an SBA loan to purchase real estate, in the final episode in a four-part series on SBA lending.
Watch the video version of this episode at https://youtu.be/5Jwc9U4LLTk?si=eTI1eNEdxrAoRgK4
Co-hosts Sam Foreman and Jacob Wayman are joined by Ben Renn, AVP, Business Banker at Emprise Bank, and Jill Garcia, SBA Administrator, Emprise Bank, to discuss using an SBA loan when buying out a partner, or buying ownership in a business, in part three of a four-part series on SBA lending.
Watch the video version of this episode at https://youtu.be/HArwCqCihYk?si=BUnRJnyhz_s2yqFb
Co-hosts Sam Foreman and Jacob Wayman are joined by Ben Renn, AVP, Business Banker at Emprise Bank, and Jill Garcia, SBA Administrator, Emprise Bank, to discuss using SBA lending when buying the assets of a business, in part two of a four-part series on SBA lending.
Watch the video version of this episode at https://youtu.be/A5qUioYVMsw?si=wrGu2dClRCiYEQOI
Co-hosts Sam Foreman and Jacob Wayman are joined by Ben Renn, AVP, Business Banker at Emprise Bank, and Jill Garcia, SBA Administrator, Emprise Bank, to discuss the basics of using SBA lending when buying a business, in this first part of a four-part series on SBA lending.
Watch the video version of the podcast at https://youtu.be/badtmNM_ntg?si=GTuG4qMxzmHhgGIO
Preparing Your Business for a Successful Exit In this episode, Daniel White Vice President of Organizational Development & Family Business Services with AGH CPAs & Advisors joins hosts Jake Wayman and Sam Foreman to discuss how business owners can plan and execute a successful exit or transition. Daniel explains why starting early—ideally 2 to 5 years before selling—can dramatically improve valuation, reduce taxes, and ensure smoother ownership transitions. The conversation dives into challenges faced by family-owned businesses, including fairness among heirs and leadership succession, as well as the importance of strong management teams and company culture. Daniel also shares real-world insights on working with the right advisors, avoiding rushed sales, and protecting the legacy of local businesses in the community.
Preparing, Valuing, and Structuring Your Deal For Long-term Success
In this episode of the How to Buy or Sell a Business Successfully podcast, Sam Foreman and Jacob Wayman welcome David Barnett to the show. As a small business expert, he now runs a consulting firm that helps buyers and sellers navigate business transitions working primarily across North America.
David breaks down what truly makes a business attractive to buyers and what can stand in the way of a successful deal. He explains the importance of having strong systems, a capable team, and a business that can operate without the owner at the center of everything.
Watch the video episode YouTube here: https://youtu.be/Dxj8wvLm010
Join Sam Foreman and Jacob Wayman in this episode of How To Buy & Sell A Business Successfully and welcome guest Caleb Edelman, a small business owner who bought his first company without prior industry experience. He transitioned from a corporate role into entrepreneurship through acquisition.
Get insights into what it’s really like to step into an unfamiliar industry and lead a team that knows more than you. Find out how Caleb navigated the challenges of being a first-time business owner, from building trust and shifting his mindset to managing daily operations and long-term growth. Hear more on how he worked with the seller during the transition, and what he’s still figuring out along the way. Whether you're exploring your first acquisition or already in the thick of ownership, this episode offers key takeaways and honest lessons from someone learning by doing.
Real World Lessons In Buying Your First Business
In this episode, Jake and Sam talk with seasoned entrepreneur Stephen Owens.
In this episode, Stephen brings a wealth of experience in mergers and acquisitions, sharing:
How to navigate deal structures and stakeholder alignment and lessons learned from past transactions that succeeded — and where others fell short.
Learning to Lead: Insights from a First-Time Business Owner
Tune in for real value in this episode as Sam Foreman and Jacob Wayman chat with Ashley Comeau. Find out what it was really like for Ashely buying a business with no prior ownership experience. She talks about why she and her husband chose to purchase an existing business instead of starting from scratch, how they approached evaluating the opportunity, and what ultimately made them pull the trigger. Ashley dives into the emotional side of ownership, the unexpected challenges that came up after closing, and how she’s learning to build systems and lead a team while growing into the role of owner. She also reflects on the value of having trusted advisors, what she’d do differently, and what’s made the whole journey worth it so far.
Unlocking Exit Value: Why 3 Years of Prep Pays Off
In this high-value episode, Sam Foreman and Jacob Wayman are joined by Sean Kennedy of Adams Brown for an in-depth discussion on how sellers can unlock hidden value in their businesses years before a sale. Sean shares actionable strategies on de-risking, financial preparation, business transferability, and navigating buyer expectations in today’s M&A landscape.
Whether it’s dealing with customer concentration, preparing for earn-outs, or understanding how to mentally and emotionally commit to selling, this episode is essential listening for owners planning an exit. Special thanks to listener Kristen Kienzle for asking a key question about post-sale commitments and how long sellers should expect to stay involved.
Watch the video episode at https://youtu.be/c7FmWM4J2LQ
Don’t Kill the Deal: Smart Tips for Sellers
In this episode of How to Buy and Sell a Business Successfully, host Sam Foreman teams up with co-host Jacob Weman to chat with Neil Miller, M&A attorney at QC Rock in Kansas City. Together, they delve into the critical importance of assembling the right deal team, the often-missed value creation opportunities during LOI negotiations, and how missteps—like taking your eye off operations—can tank a deal.
With real-world insights and practical guidance, this episode is essential for anyone considering buying or selling a business. Special thanks to listener Matt Jones for a thoughtful question on post-closing breaches.
Watch the video episode at https://youtu.be/ErcLLqVFjGw
In this insightful episode, M&A attorney Pat Linden joins hosts Sam Foreman and Jacob Wayman to uncover how early preparation, deal structuring, and assembling the right team can dramatically impact outcomes in business sales. Pat pulls back the curtain on common seller misconceptions, the dangers of treating legal and financial advisory as commodities, and how lack of planning can quietly drain millions from deal value.
If you're aiming for a life-changing exit—not just any exit—this episode is a great start. Special thanks to listener Matt Jones for asking about legal exposure post-closing and how sellers can protect themselves.
In this episode, seasoned business owner and advisor John Wadsworth shares how he built, scaled, and exited his company through an ESOP, turning lessons from a decades-long entrepreneurial journey into a mission to help others do the same. Joined by hosts Sam Foreman and Jacob Wayman, John offers powerful advice on leadership, transition planning, risk tolerance, and building a business that’s built to last—even after the founder steps away.
Special thanks to an anonymous listener for asking, “How do you know if an ESOP is the right fit for your business?” John walks through his own experience with clarity and candor.
Learn more about John's business, Strategic Value Partners, here: https://strategicvaluepartnersks.com/
In this episode Sam Foreman interviews Tyler Fee from Fee Insurance Group to explore the often-overlooked but essential role insurance plays in the M&A process. Tyler discusses key topics such as the importance of tail policies, the risks of last-minute insurance planning, and how hidden coverage gaps or past claims can impact a deal’s final valuation. They emphasize why both buyers and sellers need proactive, strategic insurance planning well in advance of a sale to protect themselves, maximize valuation, and ensure smoother transitions. Practical advice on cyber risks, employment practices liability, and building a strong risk management culture makes this episode a must-listen for anyone preparing to buy or sell a business.
Watch the video episode here: https://youtu.be/nHXr66pw0Mo
Ryan Bond, Chief People Officer of Thrive Restaurant Group, shares with Jacob Wayman and Sam Foreman, every acquisition begins with an invitation: an open hand to join a shared story built on respect, relationships, and growth. Instead of imposing their way, Thrive patiently integrates new teams by honoring what already works and strengthening it through their values. It's a human-first approach that ensures acquisitions aren't just successful on paper but transformative for the people who make the company great.
Check out the video version at: https://youtu.be/oXnzYeCoNXI
In this episode, Maddie Butler, co-owner of Kent AV, joins Jacob Wayman and Sam Foreman, and shares her journey from employee to entrepreneur and the challenges that come with taking ownership of a business. She talks about the importance of setting clear boundaries between work and personal life, creating a strong company culture, and the role of leadership in business success. Maddie also emphasizes the value of mentorship, continuous personal growth, and staying ahead of industry trends. If you're considering buying or selling a business, or just navigating leadership transitions, this episode offers insightful advice on managing change and building a culture that matters.
In this episode, Stephanie Klingzell Carlin, founder of C5 Business Advisors, joins
Jacob Wayman and Sam Foreman and discusses the often-overlooked factors that contribute to business valuation, such as culture, workforce, and intangible assets. While most business owners focus on financials, Stephanie explains that factors like employee engagement, geographic location, and brand reputation can significantly impact the value of a company. She also explores the complexities of the ESOP (Employee Stock Ownership Plan) as a unique exit strategy, highlighting the benefits and challenges it poses for business owners looking to sell.
In this episode, Brent Beshore, CEO of Permanent Equity, joins hosts Jacob Wayman and Sam Foreman to share a refreshing perspective on how private equity can truly create lasting value. Instead of the traditional "buy, strip, and flip" model, Brent discusses how Permanent Equity uses a 30-year investment horizon with no debt, allowing businesses to grow organically and with a focus on preserving their culture.
He highlights how important it is for business owners to step out of the day-to-day operations, building teams that can continue the business without them. This episode challenges the conventional thinking in the private equity world, advocating for a human-centered approach that focuses on long-term value.
Stephanie Siders, investment banker with CC Capital Advisors joins co-hosts Jacob Wayman of Wayman Consulting and Sam Foreman of Foreman Law to discuss the process of successfully selling a business. Sephanie shares practical tips about what buyers are looking for, and how to maximize value in a sale, and why starting to prepare several years in advance can make such a big difference. She shares about the power of trust between the parties, and how losing trust can kill the deal.
Watch the episode on YouTube: https://youtu.be/RacdtoQFlHQ
Business owner Chip Schellhorn joins co-hosts Jaco Wayman of Wayman Consulting and Sam Foreman of Foreman Law to discuss his recent purchase of CMJ Manufacturing. Chip shares about his experience running a successful search process, and insights into the importance of working the search process like a job, keys to identifying a good business, and how to develop and maintain an authentic trust-based relationship with the seller during the deal process and beyond. Chip is a pilot, Navy veteran, and Harvard grad. Prior to purchasing CMJ, Chip served as Director of Sales and Strategy for Textron Aviaton, and founded Girasol Capital.
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