Small Business Brokers Knowledge Base
I am looking for a Business broker who can help us find a small scale business entity? I am looking for a Business broker who can help us find a small scale business entity preferably child day care center or a franchise in triangle area, North Carolina. I search on google before posting my questions and I found business brokers websites. I filled up necessary information and my cell number. Nobody contacted. From one website I found the day care in triangle area and the automated reply was received from the website informing me the agents phone number , I left 3 voice messages but nobody returned the call. Still wondering whats going on.....,
How do I go about selling a very small home-based business? What is the best method to sell a very small home-based business? I think it may be too small to go through a business broker, so not certain what the best way to market or advertise the sale of the business. Also, what is a good way to value a business with very little in assets and no debt. Sales of about $13,500 a year for part-time work from home.
buying a small business, broker turned me down? I've been shopping around on craigslist with some success, but just recently tried the bizbuysell website. Found a few good ones I want to look into, filled out the confidentiality agreement with a broker that listed all my finances on it. He called me and pretty much told me I can't buy a business if I wanted to and that I need at least $100K cash on hand to buy one. I have $20K on hand, $40K stuck in the UK, $45K stuck in inventory, and $50K worth of credit card credit. I was requesting info on a $130K business and a $185K business. He went on to say you need at least 50% down to get owner financed and banks aren't lending right now specially for restaurant purchases, blah blah. It doesn't make sense to me because the broker is pretty much turning away a potential customer. I mean, do ALL business sellers require 50% down? When I was looking at a smaller one for $40K, the seller only wanted 20% down. When I look at it logically, the business is $185K and reports a $100K annual net profit. So if I even managed to put $40K down, that leaves $145K that I could pay back FROM the earnings of the restaurant. I just don't get it. TONS of people don't have 10-20% for a down payment on a house, so how can people possibly expect people to have 50% for a business (that makes money vs a house not) especially in this economy? Also, doesn't with owner financing, if I were to fail to pay, wouldn't that mean the owner would repo the business pretty much? *confused* I'd realllllly like to buy another business though :/
I'm finishing a management degree, and want to own a small business, but don't know which business is suitable I'm a single parent and have little experience in business. I'm seriously considering to own a small business, but don't know how I can handle it and what type of business is relevant to my studies of business management. Where can I get supports and assistance. I do research and find most of shops for sale are NOT doing well, but asking for a high price becase most of them going through business brokers. How do find a good shop at a reasonable price and be suitable to my own personal circumstances? Welcome all your comments and responses. Please don't send offended comments.
Question for small biz owners- which is a better name for my brokerage business? I have years and years of experience in small business, franchising as well as buying/selling businesses. I have worked with many businesse brokers and in general I am very disappointed by their "non-personal" "used-card-selling"approac. I beleive that a broker should always think about what is best for the client-even if that means not listing the business and advising client of value enhancing strategies. I am passionate about working with samll biz owners and truly helping them achieve their goal, may it be transfering ownership to enjoy retirement or acquiring a new business and living American dream. I want to now start my own business in business brokerage. i am afraid that the word "business broker" has negative connotation and debating if i should name my co. "Reliance business brokers" or "Reliance Business group" the later does not instantly reveal what I can do for the business owners, so i am not sure which one is the right choice. any thoughts/input will be truly appreciat
What should I name my brokerage business? I have a lot of experience in small business and am in the process of opening a Business Brokerage firm. My dilema is should I name it "ABC Business Brokers" or "ABC Business Group". I have dealt with a lot of business brokers that have reputation of being "self-served". So I am afraid of the negativity around the the words "BUsiness Brokers". Does it really matter? Any thoughts will be appreciated. Thank You.
How to legally sell a small business to family member? We have a small retail business that my father runs. The business is currently under my name but now I'm buying a house and because of the mortgage, I would now like to transfer it to my father's name. So question is how can I legally transfer the business to his name? I don't want to go through a broker and take it through escrow, etc. Please help... About the business: its a clothing store, location is in a mall, rented. All store information is under my name. Thanks in advance.
How to go about selling a small business? I would love some advice on how to begin the process of selling a small business. I have a client base at this point, but am not sure I have the funds remaining to keep going. Should I research using a broker or go about it using some of the more inexpensive ways such as listing it for sale online? Thanks!
How should I handle my freight shipments as a small business? I own a small business and have an account to handle my parcel shipments, but I was wondering what I should do about my freight shipments? I ship a few pallets of various items every month to various places around the US and am wondering if I should set up an account with a freight carrier or have a freight broker handle my shipments?
Self-run business, need net for clients. MySpace? Facebook? Other? I run a small brokering business dealing in printing machinery. I've been successful in the past because of my contacts, but need to branch out online. Nothing excessive, mainly a place clients can go to and see the equipment/prices/details/etc. Is Facebook more professional than MySpace? Or any ideas?
how do I find out from the net if a UK business is for sale? I have recently heard many rumours that a business is for sale. Im trying to find out on the net if it is, however this is difficult. The business is a small motor insurance brokers based in birmingham. Does anyone have any liks they could send to me that might help?? PS, im just being nosey at this stage as I used to work there.
Buying small business first time.? I've researched online websites for business for sale. Found a few in my area that interest me and are in my price range. Questions? 1. Has anyone used their 401K money from their old cooperate jobs to buy a business? How did that work out? 2. What is a reasonable down payment with owner financing? Websites are telling me 30 - 50% is normal. What's the real world number. 3. Websites are telling me to have a CPA go over the books and give a realistic expected income. Plus have an attorney review all the leases and contracts. What's the normal cost of having a CPA and Attorney review these documents? 4. How do I research any pending litigation against the business? 5. Is there a better way of finding business for sale than brokers on the internet? Wow! Ask a few real questions and all you get is silence. I guess they're no small business people reading YA these days. They must be working.
Small Business Insurance? I would like to know what is the best resource to help me find health insurance for my small business. Should I just go to an insurance broker or are there organizations (i.e. small business association) that can help me with that? Thanks!!
Are most people in the "business" and corporate world immoral, unethical and just plain awful people? By "business" people, I'm talking about management, salespeople, investment bankers, stock brokers, financial advisors, small business owners etc. I have known quite a few people that work in these fields, and they all shared a lack of morality. It's disappointing because these people have the "life of the party" type personality, and are fun to be around. But I guess that is just part of their ability to smooth talk to get what they want out of people. There are some very smart, and motivated people that work in these fields, but it seems they will stop at nothing to achieve their goals. Can people who value honesty survive in business?
Are there any online communities for people interested in commerce/small business? I'm asking this on behalf of someone I know who is trying to start a small business of their own. It's essentially a party/event planning service, only instead of only brokering with third party businesses, they also kind of "broker with themselves" by selling/offering their own goods. This person is kind of indecisive about whether they want to plan events or sell goods for/during events, so I thought they could spend some time hanging out online with like-minded businessmen and women like them. So is there some kind of popular forum or something for people like this? For people who discuss business amongst each other, discuss commercial events and seasons and such, and answer questions for newbie small-time business owners?
How do I find a business broker for selling a business? I'm entering year five of a small business I've started. Gross sales $250K in 2009, net cash flow about $75K. Provable top 5 in the market. Startup plan was to sell after five years and I'm itching to move on to the next project. I'm an entrepreneur, not a manager, and I'm ready to start planning my exit strategy. There are plenty of people who want to list the business, but how do I find the one who will maximize the value to me without leaving me personally exposed if the business fails to thrive under the new management? What questions do I need ask potential brokers to help me find "the one"? Please don't take this as an opportunity to solicit or to make specific recommendations of brokers.
My chance to turn small Business into Big!? ok, I'll try to explain in short words: My family comes from Brazil My dad has a small business for over25 years. Business: Rent and sell snooker tables, ping pongs and football(soccer) tables My dad got started really young, in 1983. By that time, his business was much better, he used to have lots of revenues sources. The main revenue source came from Bars! if you had over 50 snooker tables, it was already something. Now the business is about to fail. The bars are doind badly. But theres a new hope: Retail and personal clients. We dont have many competitors, Only average ones. Nothing special. My dad has no skills to deal with the business anymore. I'm 22, studying business and administration. I work as a broker. I thought about taking the business from my dad for 70k, and he would have the right for future cash incoming. I thought about a business plan, investing 50k in an office rent, sellers, software and a small inventory. I thought about getting a partnership to help. we would add more to our services and products. Events, eletronic games, 1 day rent tables, poker boards, cigars, everything related to playing! Question: am I dreaming too high???
Can a licensed Real Estate Agent be considered a business entity? Or would I have to actually incorporate myself or become a Sole Proprietorship even though I work under a Broker like Long and Foster? I ask because I want to get a small business loan to help cover the cost of advertising, cards, flyers, etc., and also to pay fees associated with being a Real Estate agent. I must add I just became an agent and I have not yet joined the board of Realtors or MLS because I can't currently afford to. I have not sold any properties as of yet.
Where is the best place to find larger businesses for sale? I am not really interested in shops, bed and breakfasts or other types of small business. My partner and I have up to £3 million to spend on a trading business for sale, I guess that means the annual turnover could be anywhere from £1m to £5m. I have looked at a few business broker sites and a couple of businesses for sale databases and not really been excited about what I've seen. Any ideas?
Looking for suggestions on selling a small business.? I would like to sell a small auto parts business located in central NJ. After many phone calls trying to sell it on my own, I find I really need some professional help. Does anyone know of a broker specializing in this area of retail? Has anyone used this type of broker? If I don't find a buyer I will have to resort to selling the inventory. Any suggestions on finding someone who will pay a price somewhat close to cost? And, if you are reading this and you are interested in buying the business, let's talk. Ideally I want to be out by month end but realistically, by June 30. Thanks for the help!
am a small business....in a pickle..need a loan for about $50k...anyone know a good broker? Had excellent credit a yr ago...750 scores...just went through a nasty divorce and I'm trying to pick up the pieces. Business was good this yr, but my attorney costs was over $80k and that has put me in a hole. I have accounts receiveables, but am in executive search business and cash flow not expected to get better until Feb 08. Meantime, I have IRS on my back...would like to pay them off. Any ideas?
what is the best way to market a small insurance broker? My dad is a broker in the insurance business. We cant really afford to have fansy billboard and other expensive adverts. However we have a good data base and get repetitive sales from our current clients. Does anyone have a great idea to promote this business?
Selling My Business? Hello, Do you have any tips on selling my business. I own a small deli in a residential area that has been for sale for about 3 months. How long does it usually take to sell a small business and am I better off listing it with a broker. Actually I do have it listed with a business broker, but so far he's only brought by 1 person. Thank you for reading this.
Have you ever taken on a business partner for the money? My (small commercial printing) business has taken on a lot of debt. I am considering a gentleman who is interested in partnering . He would bring in "new" customers because right now he brokers or sells printing (WE do some of his work). Anybody done this before? I know I need to consult an attorney and of course my accountant but I would like to know the plusses and pitfalls of doing this including personal issues (We seem to get along as business associates). Basicly I would be doing it to "save" the business so I hope I'm not at a disadvantage already. Thank You Jeff M. You made some good points to consider and gave a lot of sound advice. I did purchase (lease) newer equipment to be more competitive; Now I have the equip but the "newer" business isn't coming in as fast as I need; I;m actually using personal $$ to keep this afloat but I know there will be an end to it and bankruptcy's NOT an option. I hired a consulting firm back in March and, yes indeed I need to increase business (volume). This gentleman has been a broker customer of mine going on about 8 years; we even have some common personal things (our kids participated in youth sports together). About 5 years ago he proposed to ME a partnership but at the time things were going good so I declined; Now he's talking about purchasing some equipment on his own (I haven't approached him yet on this partnership thing). Yes, he is a broker and sends a lot of work to high end manufacturers (WE'RE more small to medium) so WE would get the work.
What criteria govern the sale of a service-based business, e.g. a translation company? I own a small, yet established and successful translation company. I'd like to sell it within a few years. To plan for the sale, it would be good to know what's most important: annual sales figure? profits? goodwill? Some buyer might say "Your sales figure is great, I don't care about your profits, since I'll apply my own procedures and pricing and make a better margin", while another might say "All I care about is your profit margin: what is it?". Then, what's the best way to go about selling it? Business brokers? Private agreement? Any helpful info will be greatly appreciated. Thanks.
a little help with my small business? when registering my company with the companies house is it ok to go through a online broker to register because they are very cheap and make it very easy? please help this is to register a website business
How to start a new business? Hi, I thinking about becoming a Auto-Broker and wanted to know how to go about it? I plan to work from home (small) something I can do part-time, but I want to be the real deal, I want a trademark, Name, ect,ect... And I don't know what to do first beside the obvious, I dont think I need to file with the IRS? Do I? Are there free public resources I can check out, or even small business grants: Any infomation will be greatly appreciated!! Thanks
what are some good businesses to run as an absentee owner? looking to invest in a small business to run. I am not quitting my day job, though. I have heard from brokers that cash businesses such as restaurants and convenience stores are a risk for employee theft. I am looking for something that can run autonomously. Perhaps an oil delivery company (I live in the northeast) or a moving company.
Small business or job ideas for moms? I am 20 weeks pregnant and have been put on disability throughout my pregnancy. So by July I will be going back to work. The only problem is that my employer had to replace me. Previously I was a retail manager making about $70k. I also have a Real Estate Broker license, but with the market being slow haven't really had much business. Does anybody have any ideas on what I can do after I have the babies with a more steady schedule or even better work from home so that I can stay home with them and not have to send them to a babysitter. My ideal situation is for me to get a nanny for 4 hours a day that could stay home with me while I am working.
Small business taxes? I am a Real Estate Broker- what is the most effective way to calculate the amount of tax on each deal as far as the IRS is concerned? Should I pay per $100.00 on rentals or $1000,00 on sales. My pratice is in NYC.
how can i improve my real estate business thru internet? I'm just staying at home most of the time, doing household chores & running a small record bar business at the same time doing internet marketing coz my husband is a licensed real estate broker. How can I contact more buyers thru internet?
Where can I get a low-amount business liability insurance policy? I am starting a small technology business (computer repair, HDTV repair, etc) and I want to get a SMALL business liability insurance policy. I have contacted 2 local brokers & 2 online brokers, and the smallest I have seen so far is for $300,000; with the online ones having a minimum of $1,000,000 each. I want to assume most of the risk myself; but want to get a policy that covers only $50,000; or perhaps as little as $10,000. Does anyone know where I can go to get a quote on such a policy?
Looking for sources to find business owners who need Equipment Financed for expansion/upcoming needs? I am a broker with a small firm in Colorado and we finance business owners who need equipment- ranging from trucks to refrigerators to computers and office furniture. I am getting mixed results with cold calling- I've had some success but it's tough hitting everyone at the right time. I have tried some other sources- mainly Craigslist- but it's been tough to manage as you can only post there so much. I know that there are thousands of businesses nationwide that would benefit from the banks and funding sources that we work with in the form of lower rates and service provided. My question is-What is the best way to find a prospective customer without calling and writing and generally irritating every business owner in the U.S.? What are the best ways for me to find business owners that I know are looking for funding? Are there websites dedicated to people seeking financing, like Prosper? Any help is greatly appreciated. Carla-it will be nearly impossible to find funding with low personal credit and being a startup.
Any ideas for jobs or small businesses that would suit me? I am often told that I am somebody with outstanding listening skills. One of my greatest sources of satisfaction is in deeply understanding people and their needs, and then artfully creating and brokering "deals" between people in a way that the needs of everybody involved are taken care of. I am only satisfied when everybody involved is winning in some way, and will not broker deals where somebody involved is losing.
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