Business Brokers Ft Lauderdale, FL
A business broker is an individual or company that helps in the purchase and sale of small or mid-sized businesses. Florida business brokers help companies to secure competitive pricing, submit documentation correctly, and assist in the transfer with any licensing and permitting requirements.
Business brokers get paid through commissions based on a percentage of the transaction price generated from the deals they arrange and oversee. Florida, like every state, has its own regulations for business brokers. In certain jurisdictions, licenses are required before you can broker a deal, but this is not the case in others, for example, Florida requires a real estate license.
Selling a business is time-consuming, and negotiations can be difficult. That is why you should work with an experienced intermediary that understands the world of mergers and acquisitions and knows the regulations you may face. Work with a business broker in Ft. Lauderdale, FL to help ensure you’re getting the best deal and brokering your business under the law.
Ft. Lauderdale Business Brokers Benefits
An experienced business broker can offer benefits to you throughout the brokering process. For example, keeping your business information confidential is vital to maintaining your trade secrets and competitive advantage. Brokers know how to control confidentiality by limiting the release of information throughout your business buying and selling process.
Experience is another paramount benefit of business brokers in Ft. Lauderdale. Your Florida business broker’s perspective of your business and their experience can help them foresee obstacles to your sale and offer suggestions should issues arise.
Brokers can also help to maximize your proceeds throughout the negotiation process. They maximize your proceeds by establishing a fair offering price of the business while taking the business structure and taxes into consideration.
Choosing The Right Business Brokers
Brokers streamline the sale process and timeline to minimize business interference. The continuity of business during a sale is extremely important because a lengthy sale process increases the risks of confidentiality breaches, business declining, and customer or employee defections.
The right business broker in your Ft. Lauderdale community can be a great source of referrals for valuation specialists, attorneys, and accountants. Brokers can reduce the cost of coordinating your efforts with outside advisors, which can minimize your advisory fees.
Choosing a Florida Business Broker
A good business broker has the knowledge and experience to manage the process, including providing information about accounting, finance, business improvement, valuation, marketing, sales, interviewing, written and verbal communications, negotiations, customer service, collaboration with advisors, and even real estate.
A good broker generally needs several years of business broker experience in your Florida community and should have completed several business sale transactions. Your Ft. Lauderdale business broker should be willing to exemplify the following abilities should you need them:
- Currently working full-time in business brokerage
- Willing to provide references of past seller clients.
- Willing to spend the necessary time talking with you to better understand your situation, your goals, and your business and provide you with some insights into the process of selling your business.
- Able to identify the obstacles you have to overcome to sell your business successfully.
- Able to provide an opinion of your business’ value, create an analysis of the Seller’s Discretionary Earnings (SDE), take into account other factors previously learned about the business, and provide an estimate (or opinion) of the value of the business, or to provide an accredited valuation firm to establish a formal value for the business.
- Possesses the ability to explain the methodology of their estimate, so you fully understand how they calculated the opinion of the business’ value.
- Can identify obstacles that need to be considered and addressed while also discussing ways to increase the value of the business.
- Charges their clients on a straight commission basis and that their commission is only paid when you are paid at closing. A good business broker will require an “exclusive right to sell” listing agreement for 12+ months.
- Always obtains non-disclosure agreements from prospective buyers before releasing the seller’s company information to them.
- Screens buyers for their management and financial capabilities. The broker should be able to explain their pre-qualification philosophy to you.
- Capable of explaining the marketing plan for the sale of your business to you, including a comprehensive marketing package that they will provide to prospective buyers after they’ve signed a non-disclosure agreement.
- Possess an understanding of business acquisition financing, especially Small Business Administration (SBA) loan standards and qualifications.
- Maintain their integrity and perform their duties at a high standard of moral ethics and advise their clients to do so as well.
- Does not pressure the prospective seller to make an immediate decision to sign a listing agreement.
A Neumann & Associates, LLC is a professional mergers & acquisitions advisory firm, having assisted business owners and buyers in the business valuation and business transfer process through its affiliation for the past 30 years.
If you’re in Ft. Lauderdale and require a business broker, contact A Neumann & Associates, LLC today for your free consultation.
Contact A Neumann & Associates, LLC
If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please to fill out a short form, or call us at (732) 872-6777. We will contact you directly and will never identify ourselves to your employees.