Florida Business For Sale | 100 Facts on Sold August 2012

By Scott | August 15, 2012 - 2:45 pm |January 12, 2013 business broker florida, buy a business, Florida business broker, Florida Businesses For Sale, Jacksonville Florida businesses for sale, Main, small business owner

Florida Business For Sale | Business Broker

I am a Florida Business broker working with business owners selling their Florida businesses, and business owners and individuals looking for acquisitions. Prospective business buyers I work with are located in Florida, US., and Business buyers in Europe and throughout the world.

As a member of Business Brokers of Florida, which is the largest state Association of Business Brokers in the United States we have access to significant data regarding businesses being bought and sold . Thousands of businesses for sale are represented by over 1000 business brokers that are members of this Association. These business brokers list their respective businesses for sale and prospective business buyers on a centralized listing site and buyers and sellers of businesses are brought together. Several thousand businesses for sale are listed, modified, and advertised thru this website. Valuable information regarding Florida business for Sale and Florida Businesses Sold help me as a Business Broker Profesional keep track of the ebb and flow of the Florida Business Acquisition Market. Understanding a business to assist in selling that business requires an understanding of the numbers behind that business. And understanding the marketplace in which this business may be sold is furthered by a review of the data surrounding businesses being bought and sold in Florida. The below are 100 +- facts, statistics, totals, and items of note surrounding the business acquisition and sales market in the State of Florida. Other businesses are bought and sold without the assistance of members Business Brokers of Florida, and that info is not included in this analysis. All of these numbers are as of today August 15th, 2012….

Florida Business For Sale | Thousands For Sale?

There are approximately 3020 Florida Businesses for Sale
There are approx. 100 Florida Business For Sale that have both a net income of $100k or more and require no more than a $100k Net income
Of the 3000 plus Florida Businesses For Sale 17 have a Net Income of $1M
Of the 3000 plus Florida Businesses for Sale 1142 have Net Income greater than $100k

Below are actual businesses currently for Sale in Florida- in North Florida (Jacksonville Florida) , Central Florida (Orlando area) and South Florida (Miami area)

Automotive
Location	Category Detail	Price	Adjusted Net	Sales
Orange, Florida USA	Fleet Service	290,000	172,108	301,166
Cleaning/Clothing
Location	Category	Price	Adjusted Net	Sales
Orange, Florida USA	Dry Cleaners	325,000	118,650	548,952
Construction
Location	Category Detail	Price	Adjusted Net	Sales
Orange, Florida USA	Contractor Electric		138,967	1,095,531
Medical Related
Location	Category Detail	Price	Adjusted Net	Sales
Orange, Florida USA	Medical Equipment		265,061	1,332,620
Motorcycle
Location	Category Detail	Price	Adjusted Net	Sales
Miami-Dade, Florida USA	Motorcycle Dealership	125,000	100,515	900,816
Restaurants
Location	Category Detail	Price	Adjusted Net	Sales
Orange, Florida USA	Italian Restaurant	114,900	120,399	555,708
Orange, Florida USA	Pizza Shop	114,900	120,399	555,708
Orange, Florida USA	Breakfast Lunch	140,000	118,366	229,417
Orange, Florida USA	Pizza Shop	150,000	104,901	331,710
Miami-Dade, Florida USA	Ethnic Restaurant	159,000	116,000	540,000
Footwear
Location	Category Detail	Price	Adjusted Net	Sales
Duval, Florida USA	Shoes Repairs	139,000	124,915	198,350

500 plus business have been sold in Florida thru Business Brokers of Florida YTD

Averages of 500 plus Businesses Sold in Florida thru 8/15/2012
Sales	Sold Price	Adjusted Net	Adjusted Net/Sales	Sell Price Multiple	Down Pmt %	Days To Sell
Sales	Sold Price	Adjusted Net
568,938	210,785	108,003	0.255	1.478	81.30%	225

The days it takes to sell a business “Days on Market” Does not include all businesses that attempt to sell and dont. Not all businesses that attempt to sell do result in that business being sold. The average Selling Price of the 500 + businesses sold in Florida was about $201k. What is Your business worth?Notes on these above numbers:

Florida Business For Sale | A Good Deal?

The average of businesses sold- sold at about 1.5x the annual adjusted Net.
The above averages include businesses (less than 10%) are businesses that may include real estate in the Sold price
The average business earned (their Adjusted Net ) was about 25% of their Sales- What is yours?

Every Business is different. Looking to Sell your Business? Do you consider your business “average”? Looking to Buy a Florida Business? Should you pay an “Above average” Price for a Below Average Business?

Source of current information above Business Brokers of Florida

Topic: Florida Business For Sale

8 Biggest Reasons I want to Sell My Business or Buy a Business

By Scott | June 13, 2012 - 8:41 am |February 24, 2014 business broker florida, buy a business, entrepreneur, Florida business broker, Florida Businesses For Sale, Jacksonville Florida businesses for sale, Main, sell a business florida, selling my business, small business owner

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8 Biggest Reasons I really want to Own My Own Business Can look very much like the 8 Biggest Reasons I really want to Sell My Business.

Reasons to buy sell a business

Why does someone buy a business, and what does drive a business owner to the decision to sell their either long term ownership of a business or short term ownership of a business? As Former and current business Owner I have owned a couple businesses, I have started businesses, I have bought multiple businesses, and I did sell my business. As a Florida Business broker I have both represented Buyers and Sellers of businesses.

So much goes into the decision of buying a business or into the thought process of selling a business, but often it can be similar criteria that just sits on the opposite side of the ledger….

Owning your own business can be one of the most satisfying processes in ones life. Why does someone want to own a business. Very often it becomes the same reasons one wants to sell his or her own business.

Reasons For Owning Your Own Business: “I want to Buy a Business because” –

1)MONEY– want to make lots

2)PASSION– I love making widgets- I love helping people with my products/ services
3)ACCOMPLISHMENT– It just feels good and a feeling of success
4)OBLIGATION– It is my best means to support myself and or family.
5)EXCITEMENT– I love working 24/7
6)CONTROL– I control my own destiny. I am the boss, I wont have to report to anybody. I can do whatever I want!
7)OPPORTUNITY– I’m young-limitless full of health, energy, optimism
8) TIMING – “I’m Ready” to buy own my own business

Reasons For Selling A Business: “I want to sell my Business because “-

1)MONEY-Not making enough, money is less important. Or Ive done well and ready to cash in on my efforts.
2)PASSION– I used to love making widgets, now I’d rather collect shells, golf, work for someone else or do anything but make another widget. of ” If I have to deal with another customer I’ ll scream”.
3)ACCOMPLISHMENT– The feeling of accomplishment is gone and or less significant, or Ive accomplished all Ive wanted in this business.
4)OBLIGATION– My family is no longer around, Im not going to pass business on to my kids
5)EXCITEMENT– after working 24/7 I am now burned out and I get excited about the idea of not having to deal with it anymore
6)CONTROL-Insurance Companies,employees,IRS,State, Federal policy control my destiny, and run my business more than I do!
7)OPPORTUNITY– I feel old, have health issues, tired- lack the energy this company needs- exceeded my limit
8) TIMING– “I’m Ready” to sell my business and move on…

While the list could go on and on, Contrary to common belief—– Its not always just about the money

When do I think it is a good time to buy a business? When YOU are “ready”

When is a good time to sell my business – When YOU are “ready”

Fear-Unspoken Emotion when Buying or Selling a Business

By Scott | April 26, 2012 - 7:15 am |July 13, 2013 business broker florida, buy a business, Florida business broker, Florida Businesses For Sale, Jacksonville Florida businesses for sale, Main, sell a business florida

Should You Ignore Emotions When Buying Or Selling A Business?

The money is a very important component that cant be minimized, but the emotional side should not be minimized as well. What emotions did I experience as I personally was the buyer and seller of a business?

Concern,
Trepidation
Joy
Satisfaction
Worry
Relief
Uncertainty
Fear

Is there a book written that states these are the emotions one should realize when going thru the thought process of buying a business, selling a business or starting a business? If so I am not aware of it. Is it ok to worry 24/7, to have some fear when making the substantial investment of buying a business?

Is it ok to have a certain level fear when evaluating the decision to sell a business that you may have started and or been owning running for 10, 20, or 30 or more years. I personally think all these emotions are both acceptable and normal. I feel if there isn’t a certain level of fear then possibly the enormity of the situation may not be fully understood.

When working with business buyers and those selling a business, and also in consulting for several starting a business, I do not attempt to advise that certain emotions are right, wrong, or indifferent. My approach is to share my experiences and suggest that these emotions may be realized in the process of buying or selling a business. I have many conversation with business owners that may want to be selling their Business.

Photo (c) profitguide.com

The Fear Of Selling Your Business

They want to sell their business but the uncertainty that is so intertwined with the process can create fear, fear can create in- action. Business owners may want to sell or exit their business, but their business is a known entity. The business owner knows what to expect with running his business-relatively. Selling ones business can create so many unknowns that uncertainty,trepidation, concern worry and fear can result in just taking the path of least resistance which may mean to just keep running your business- even though you may not want to.

But a properly analyzed and thought out approach to buying or selling a business can produce some very desired emotions like relief, joy, and satisfaction. In my opinion emotions are a big part of the process of buying or selling a business. But you should not let your emotions get in the way of pursuing your desired goals.

Selling My Business Next Year

By Scott | March 28, 2012 - 9:28 am |July 13, 2013 business broker florida, Florida business broker, Jacksonville Florida businesses for sale, Main, sell a business, selling my business, small business owner

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Getting a business ready for sale is both advisable and prudent. Waking up one day and deciding you want to sell your business tomorrow may not be a good idea. Deciding that you would like to sell your business as an exit strategy and putting together a plan is likely to maximize your gain from the sale of your business.

You could easily Google Preparing your business for sale and find many many articles/list and sources of information. I had written a related article in the past as well. But beyond the list- what of these methods are most important? Are all of these measures necessary or are they just guidelines?

I had sold my own business of 20 years, I had entertained several offers over the years, I went thru various stages of decisions as to how I would exit my business. At some point I realized that my exit strategy would be to sell my business if I could find the right situation. But from my perspective the most important part of my approach was to commit to running my business as if I would own it perpetually.

Photo (c) smallbiztrends.com/

So many businesses that try to sell- don’t sell. A business owner needs to realize this and allow this fact to influence their thought process. Currently I am a business broker in Florida and work with Florida small business owners with the process of buying and selling a business.

Be Realistic When Deciding On Selling Your Business

Many components and aspects of your business should be looked at from a realistic standpoint, critiqued, and adjusted as needed when preparing your business for an eventual sale. Some important areas to address when looking to sell your business include:

Either develop, establish, or refine your business operational procedures, practices, and methodologies and have them documented
Does your business rely on you the business owner? If so, make changes to reduce that reliance.
Clean financials- Does your Income statement and Balance Sheet make sense ?

But the question to pose is what of these measures is most important or essential as it relates to preparing for the sale of my business?

In my opinion it is accurate , sensible, reliable Financial records.

The Importance Of Reliable Financial Records

Photo (c) bristoltn.org

Typical financials involved with the sale of you business can include Profit/Loss or Income Statements, Balance Sheets and Tax Records. Further into the due diligence process of your business good Sales Journals, Customer Information, Inventory Info, all can go a long way to maximizing the value of your business.

Clean financial records are so essential to all parties involved with the acquisition of a business. And all involved includes the Seller, the buyer, and possibly a bank, lender or third party investor.

So when looking to Sell your business-

If you have a great business that is producing great margins, produces a great bottom line, and a very high owner benefit- but the financial records do not support this – what do you have?

If you have a business that you own and run it semi-absentee, great systems, increasing sales, good industry but poor financial records- what do you have?

If you have the nicest looking, shiniest looking store, website, equipment, office or vehicles, but your financial records don’t make sense- what do you have?

Looking to sell your business next year? Start working on your financial records today.

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