Business Brokers in the Digital Age: A Toolkit for Seamless and Convenient Communication
In late 2005, fresh from getting shown the door at my last “real job” I entered the world of business brokerage. Eager to get after working I hurried to attend training in the Old Transworld Office in Fort Lauderdale. I sat in class with Frank Feiler and listened intently to the wisdom imparted from the likes of Tom Jones, Peter Berg, and Andy Glasgow. In addition to...Read MoreThe Overpricing Dilemma: The #1 Reason Why Businesses Fail to Sell and Why Buyers Shun Them.
The BBF has given sellers and their brokers an amazing marketplace to sell businesses. It has proved to be quite efficient in its ability to find the right buyer to buy businesses that enter the marketplace. And in today’s seller-favored landscape of business transactions, if a business is not selling, we can only deduce that it is overpriced. This issue is obvious, and the statistics...Read MoreChair’s Letter
I am honored to lead the Business Brokers of Florida this year. I am fortunate to have a large group of dedicated volunteer leaders, a strong assembly of members and affiliates, and a great management team to help our Association be the best in our profession. I would like everyone to mark their calendars for our upcoming BBF Conference, August 23-25 at the Caribe...Read MorePresenting the right CIM, CBR or Brochure for your listing
Our duty as Brokers is to showcase our business listings with as much detail and accuracy as possible so as to wow the Buyer. One way to do that is through the preparation of a Confidential Business Review (CBR) or a Confidential Information Memorandum (CIM). These two terms are often intertwined and used in the same manner. The difference between these two documents is that the CIM...Read MoreSeven Reasons Why a Buyer May Expect Working Capital to be Included in the Sale Price of a Business
What is working capital? Working capital represents the short-term liquidity and financial health of a business. Positive working capital can indicate the business is well-managed and financially stable. Working capital is the money available to meet current, short-term obligations. It is calculated by subtracting short-term liabilities from short-term assets. Short liabilities...Read MoreBuying a Business: What is the Real Value of a Business?
Using “multiples” to value a business may be a disservice to both the seller and buyer. “Multiples” may not represent the real value of the business. Multiples are generally median or average values published in the BBF MLS or in Pratt Stats/Deal Stats. However, these are just convenient “midpoints” that do not represent any specific...Read MoreProfessionalism at its Core
I recently completed a comprehensive program of next-level professional education, achieving the Master Certified Business Intermediary designation. In this inaugural Masters cohort, I was fortunate to learn with some of the industry’s most professional and vastly experienced business intermediaries and M&A advisors worldwide; in addition to that, the professors that taught...Read More