Your Go-to Source for Business Brokerage Services
Are you wondering where to sell your business? Turn to Florida Business Brokers to sell your business quickly. We offer company owners in West Palm Beach, Florida, and the surrounding areas personalized business brokerage services. With our owner’s leadership, we’ve been able to assist thousands of clients with closing deals and obtaining maximum value for their businesses and commercial real estate. Our team has the knowledge and experience to create an exclusive method to sell your business. We’ll work hard to take the stress away from you by organizing and simplifying the process.
For your convenience, we’ll provide you with a checklist and plan of action that we’ll put into action when you’re ready to sell. You don’t have to worry about us overloading you with meetings and paperwork. Our plan allows you to complete the process smoothly and quickly (behind the scenes) while you continue to focus on your corporation. For additional information regarding business brokerage services, contact us today.
Not Every Business Will Qualify
Our forte is selling businesses in the manufacturing, distribution, wholesale, and service industries with more than $1,000,000 gross revenue. If you find that your business is in a different industry or earns less than $1,000,000, don’t worry; we may be able to work with you if you can meet most of the criteria in our guide that explains how to double your business selling price. If not, our owner will set you up with a personal agent to assist you with maximizing your company’s value and cash out.
The Right Way to Sell Your Business
The key to success is preparation. To do this, we’ll take your financial statements and questionnaire and develop a comprehensive report for you. This report will identify the strengths and weaknesses of your company, identify ideal buyers, clearly state values according to different sales structures, and provide you with information on how to maximize the value of your company through strategies other than (or in conjunction with) selling.
We’ll do due diligence ahead of time while creating this report. Once you decide that your business is in order and ready to list for maximum value, you will decide on the price and the structure of the deal. Our professionals will only provide the information that you need to make your decision. Buyers that are not able to qualify or not ready to meet the price or terms will be turned away. Buyers who are ready to make an offer are allowed to move on to a meeting or to take up any of your time.
The Wrong Way to Sell Your Business
More often than not, business brokers will ballpark your business value at a listing appointment based on an industry standard. This is a big mistake. Industry standards are the result of a compilation of hundreds of business sales throughout the US that probably do not relate well to your business.
The reason that industry standard valuations don’t work is that some businesses will sell for 10x earnings while others will sell for 1x earnings. For instance, let’s say the industry standard is 5x earnings. You need to understand how your business model compares to prior sales of similar businesses to obtain the correct multiple. Moreover, you’ll need to consider the type of buyer you want to attract. Some buyers will pay more than others.
Businesses are sold to investors. Some investors are looking for a salary while others are looking for a return on investment (ROI). A buyer looking for an ROI is normally willing to pay a premium for a company. Likewise, equity groups will pay a premium due to the lack of suitable opportunities that fit their business model for an acquisition. Imagine listing your business for 5x earnings when it should only get 3x earnings. Since the average broker goes through 28 buyers for each listing, it would be a nightmare for you if buyers were paraded through your business without making offers, or making low offers.