HALO Academy 2 Minute Financial Drill-Funds Flow Closing
Description
๐๐๐๐ข ๐๐ฐ๐ฎ๐ฑ๐ฒ๐บ๐ ๐ง๐๐ผ ๐ ๐ถ๐ป๐๐๐ฒ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ฎ๐น ๐๐ฟ๐ถ๐น๐น๐: ๐๐๐ป๐ฑ๐ ๐๐น๐ผ๐ ๐๐น๐ผ๐๐ถ๐ป๐ด
This week we're finally at the ninth-inning in closing our deal.ย
We've gone through all the prior steps. . . club financials continue to perform andโagainst all odds (!) โevery landlord signed their lease assignments. No last-minute disasters, no drama. (This never happens, but work with me for the sake of illustration. Ha)!ย
๐ช๐ต๐ฎ๐โ๐ ๐๐๐ป๐ฑ๐ ๐๐น๐ผ๐, ๐๐ป๐๐๐ฎ๐?
All parties expecting cash are listed in a Funds Flow Excel sheet.
In this case, $3 million is set aside into an escrow account for two years, ready for any unforeseen surprises.
Equipment lenders (like Macrolease) get paid directly by the buyers, ensuring all liens are cleared before ownership fully transfers.
Every last closing costโsuccess fees, accountants, landlord paymentsโis disbursed.
๐ง๐ต๐ฒ ๐ฉ๐ถ๐ฐ๐๐ผ๐ฟ๐ ๐๐ฎ๐ฝ
With all wires sent and debts cleared, whatโs left? A classic โtombstoneโ celebration for the team, and a HUGE sense of accomplishment.ย
These deals take a long time to close. . .anyone who says otherwise is lying (or doesn't truly know the space.) Our shortest deal in the history of ISQ took 60 days. Our longest? About 14 months.ย
Until next weekโGo HALO!
We go into much more detail in the HALO Academy. Registration open now for our September cohort: https://www.thehaloacademy.com
United States
