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Florida Business For Sale | 100 Facts on Sold August 2012

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Florida Business For SaleFlorida 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
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

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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

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How much is the business worth?  How much can I make if I buy that business?  What is the value of the Inventory?  What is the  rent the business pays?  What is the Revenue per Sales Channel?  What can I sell my business for?  What will it cost me to start a business?

These are all financial question that very often get discussed during the process of buying or selling a business.  So often the perception of buying or selling a business… or starting a new business is all about the financial elements surrounding the transaction.  The emotional and psychological elements in my opinion are under-served and often minimized.

Selling Your Business

I am a business broker based in Florida and in my profession I work with both buyers and sellers and can have rather intimate conversations regarding the goals and  desires of these current or future business owners.  I cant pretend to always know what truly is going thru the mind of someone I represent that is buying a business or someone I represent that is selling their business.  But I can speak of my experiences that I realized personally as I both bought several businesses as a business owner and also sold my business of 20 years.

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.

Fear

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.