Getting Started: The Process Of Selling A Business

How much money can Florida Business Brokers get me for my business?

You’ve worked hard for your money and to get where you are today. You can’t trust the sale of your business to just anybody with a license. You need a professional to help you maximize value and then sell for top dollar. Let us show you how to sell your business for more money.

Don’t let brokers give you an improvised valuation. This is far too common in our industry. Valuing businesses is complicated and time consuming. There are so many variables to be considered when valuing businesses: Sales revenue, sales revenue trend, profit margins, strength of management, strength of workforce, key employees, salaries, marketing efforts, vendor relationships, vendor contracts, client relationships, client contracts, location, rent, and the list goes on. It would simply be unprofessional for a business broker to give you an off-the-cuff valuation without considering all of those factors. With Florida Business Brokers you’ll receive the best professional help and a comprehensive in-depth report showing you how to maximize the value of your business and get top dollar.

In order to do this the right way for you, I will research and detail the strengths and weaknesses of your business, compare those to other similar businesses that have sold, and come up with a value range and a marketing plan. Your report will outline the prices buyers are likely to pay based on cash or financing, identify your target buyer, and outline a plan of action to find that target buyer. Your marketing report is an invaluable asset when it comes to pricing and selling your business because you are getting the buyer’s due diligence report ahead of listing your business. There is no better way to prepare for the sale of your business and to maximize value!

What will it cost?

Believe it or not, there is no charge for my valuation services. All I ask for is that you sign a retainer agreement. If you chose not to sell your business, then you pay nothing. If you chose to sell it and I am successful, then the fee is 10% of the sales price, which is the average rate charged by business brokers. The fee drops below 10% if the sales price goes into the millions. The reason I ask you to sign a one-year retainer agreement is because a valuation report can take up to 200 hours of my time and I have to outlay costs associated with creating it. I think this is a fair trade-off and my sellers have overwhelmingly agreed.

How can I get out of the contract if I decide not to sell?

This happens about fifty percent of the time. The report is such an educational tool that you will instantly be able to see how to create value in your business. This is a good thing, and it’s why I created the reports. My job is to help you increase value and sell your business for top dollar in the least amount of time. If you think your business is not ready to be sold for top dollar, then don’t list it until you are ready. I sincerely hope that you will come back to Florida Business Brokers when you are ready, but you are only under a one-year obligation to list it with me. Our motto is, creating wealth through well-informed sellers: you will be hard-pressed to find another broker willing to do this much work prior to getting paid. I put my money where my mouth is before you have to pay a dime.

How long will it take to sell my business?

The process of selling a business in Florida isn’t always quick. Generally, it takes about six months to sell. Some businesses sell in a few days and some take a few years, but those are due to unusual circumstances. It is a commonly known fact in the business brokerage industry that about 75% of businesses listed on the market never sell. This is attributed mostly to the lower end of the industry whereby some brokers list anything whether it is sellable or not. To the contrary, I’ve sold every listing that I’ve listed with the exception of a few sellers: one went out of business during the listing, one gave it to his son, and a few others pulled their listings for personal business reasons and continued to run the businesses. Selling isn’t about chance, it’s about making a plan and executing it. Let Florida Business Brokers make a plan to help you create your exit strategy and you can be sold in six months.

Will I have to finance a buyer?

Even before listing your business, I will try to get your business pre-qualified for SBA financing. This means that a buyer for your business can qualify for acquisition financing of up to 85% of the purchase price. This helps sell your business for a higher price than if you only sought a cash buyer. This is a great tool, but most brokers choose to bypass it because it is a lot of work for them. With Florida Business Brokers SBA pre-qualification is standard procedure for every listing.

At the same time, it can be tough to get buyers to qualify for this financing because it has a lot of disqualifying factors. Therefore, even when your business is pre-qualified for SBA financing, it is a good idea to offer some amount of seller financing to buyers. This shows buyers that you have confidence in your business and are willing to take some of the risk. Perhaps this is why sellers who choose to finance buyers, sell their businesses for 16% more money on average and in less time than sellers offer some financing. All the same, I wouldn’t want you to take the risk and finance a buyer that has poor credit. This is something that we can discuss after I’ve completed a market valuation report for your business. It will be your choice to make once you have all the facts. I can sell your business with or without financing.

Do you have buyers for my business?

I do. Florida Business Brokers and our network of business brokers has thousands of investors actively seeking businesses. We also receive hundreds of inquiries every month from new buyers looking for opportunities like your business. Here is a link (http://floridabizmls.com/sell-business/search-for-buyers/) that you can use to search for active buyers.

Will I have to constantly meet with buyers or will you handle this?

After your business is listed, you won’t hear from me for a while. I’ll be busy screening buyers and prequalifying them for you. In fact, I may go through tens of buyers before you will have to attend a meeting. My goal is to sell your business within three good buyers. That means you should not have to meet with more than three buyers over the course of the listing.

What about foreign investors applying for business visas?

We deal with them, but there are some major issues surrounding them and sometimes it’s not worth your time. They may pay higher prices than other buyers, but they need to be thoroughly vetted in order to avoid some of the problems associated with dealing with them. Foreign investors often have trouble getting their money out of their countries. Also, they are also not in a rush: In other words, it’s difficult to pick up and move to another country, especially considering that most of them are business owners in their native country. Since I have a lot of experience with foreign buyers, if I find a buyer who may be a good candidate for your business, I will make sure that we negotiate a deal that works for you and avoids all of the associated problems.

How is my business advertised for sale?

I use mailers, telemarketers, trade journals, commercial websites, and a business MLS (about 1,500 brokers throughout FL). If you are concerned about privacy I can adjust the ads to limit your exposure and maximize confidentiality. This has always been a Catch-22 for me: I can’t go through the process of selling a business if nobody knows it’s for sale, but you can’t allow your employees or competitors to know it’s for sale for fear of harming your business. The best way to do this is to work closely with each other. You can review all of my advertising and marketing and then approve or disapprove buyers as they contact me.

What type of businesses do you sell?

I’ve sold gas stations, grocery stores, contractors, manufacturers, distributors, restaurants and almost anything else you can think of. The bottom line is that if I am able to evaluate a business, then I can come up with a valuation, a target buyer, a plan to market the business, and get it sold for you. It can be a contractor, a factory, a store, or anything else, as long as the business is organized enough that I can get the information that I need to create a valuation report.

What is your service area?

Generally, I work in Palm Beach and Broward counties, but I’ve sold businesses in Orlando, Tampa, Titusville, Naples, Marco Island, and Miami. After the initial few meetings, we don’t need to see each other until I have a buyer, so, I can sell your business without being near your location. I’m also a commercial pilot living at an airport community. In fact, I may be able to get to your office faster than other brokers in your area who have to drive.

How can I get started?

To learn how to sell your business in Florida, simply call me to set up a meeting. You can also fill in the form below and let me know the best time to contact you. The first meeting is a short meeting to get to know each other. It’s very important that we are able to work well together. I’ll bring lots of reading material and a checklist to help prepare and organize your business for sale. From there, we can work out a suitable schedule to gather information, create the report, and then sell your business. I’ll do most of the work. It’s really that easy.

Please feel free to Call or Text Me with any questions at (561) 914-1182.