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Florida Business For Sale Sold Activity (October 12,2011)

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Florida Business For Sale  Florida Businesses Sold Activity (Oct.12, 2011)

I am a Florida Business broker working with business owners selling their Florida  businesses, and business owners 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 Sales and Florida Businesses Sold help me as a Business Broker Professional  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 a few 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.

Recent Businesses Sold in Florida Activity (as of  Oct. 12, 2011)

  • Businesses Sold in Florida through Business Brokers of Florida  in last 30 days  – 28 vs 63 in prior 30 day (July 26,2011) documented  period
  • Top  industry of  Businesses Sold in Florida through Business Brokers of Florida in  last 30 days:   Restaurants   (as usual…)
  • Avg Days it took to sell Florida Businesses Sold in last 30 days  – 162 (about 5 months vs.  277 days-  (9 months)- in last documented 30 day period (July 2011), doesnt include businesses that were removed from market without selling

As of Oct. 12, 2011…

Businesses Currently For Sale through Business Brokers of Florida – 3301 vs. 3336   in last 30 day period. about same

  • Number of Business Currently for Sale in Jacksonville Florida Area (Duval County and St.Johns County) with Adjusted Cash Flow Greater than $100,000- 67
  • Number of Business Currently For Sale In Jacksonville Fl area with adjusted cash Flow greater than $200,000 –  21
  • Number of Business Currently For Sale In Jacksonville Fl area with adjusted cash Flow greater than $300,000 – 9

 

Current Business Interest and Activity Obseravtions: as of Oct 12,2011

As a business broker I work with many “Business Buyer Prospects“.  I realize so many will remain perpetually  “Prospects” and a select few will actually result in being “Business Buyers” I both understand and accept this fact. 

But recently  I have been working with several buyer prospect that had a goal/objective of finding Florida Business For Sale with adjusted cash flow of $300,000.

  • Of the 3301 business for Sale in Florida 193 have adjusted cash flow greater than $300,000  about 5% !  
  • Of the 3301 business for Sale in Florida 103 have adjusted cash flow greater than $400,000  only about 3% !
  • Number of business sold in Florida with adjusted cash flow greater than $300,000 in last year – 36 

Buying 2 synergistic businesses that may produced a combined $300,000 adjusted cash flow or owner benefit is a strategy that is being considered.

*All above info compiled from data available via the bbfmls website. And addresses information about businesses being bought and sold and reported thru this Professional organization of Business Brokers of Florida.

For more info or questions regarding the Florida Business Acquisition Market or Florida Businesses for sale please contact

Scott M Messinger

Scott@Sellabusinessflorida.com

239.770.2421


 

Selling My Business – How Much is my Business Worth

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Selling My Business How Much is my Business Worth.  Almost all businesses are for sale to some degree. Lets say your business is not For Sale. Assume  Your business is worth $100,000.  You love what you are doing, someone contacts you with an offer to buy your business for $500,000.  Is your business now For Sale? The preceding is not a likely scenario for most business owners.  To successfully sell your business planning and preparation is needed.  But if you are now or at some point considering the sale of your business you may want to consider the following 3 points:

1.     Identify your honest interest level  when selling your business. Early in the decision process of selling your business consider what approach you may take towards selling your business.  As a Business Broker in Florida I interact with the various interest levels by small business owners.

  • My business is not for sale but if someone walks in and offers me way more than what I think it is worth- I would sell my business
  • My business is not for sale but if you run across someone that would want to buy it please let me know.
  • I want to pursue selling my business but I won’t sell it for less than…( A somewhat inflated price) .  I am willing to accept that it may take 1-2 years to sell my business, and if priced too high I can accept the fact that my  business may not even be sold.
  • I want to pursue selling my business and after significant due diligence I feel the price I am seeking is consistent to what other like businesses have recently sold for.
  • I want to sell my business and I want out now.  I will set my price aggressively and set a lower price than price currently sought for businesses similar to mine.  I will expect this aggressive pricing to both help me sell my  business and decrease the amount of time it will take to sell my business.

If you do have a true interest in selling your business as suggested in above  last 2 points you do need to  exercise due diligence to gain understanding of what the value of your business may be.

Business Value

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2.    You can expect that the  perceived value of your business to you and the value of the business to a potential buyer will probably be 2 different values.

  • Ultimately the price of your business is what a willing and able buyer is prepared to pay to buy your business.
  • Seek “reasonableness” to your price that you will seek to sell your business for. If similar businesses to yours are sold at 1 1/2 times adjusted cash flow, why is yours worth 3 times adjusted cash flow?
  • Ask yourself what you honestly would pay to buy your business.
  • Do a free Search on my website https://www.sellabusinessflorida.com  0r similar sites to research what similar businesses to yours is asking to sell their business for.  Remember – all businesses are different, but use such a search as part of your due diligence.  A business for sale asking price and the price a business sold for can be greatly different, but asking prices can provide some basis-while current  Businesses Sold information is more pertinent
  • Speak to your trusted advisers.  A business broker may be able to help with non-public info on sold businesses in your area.  Your accountant or attorney also  may or may not be aware of such sales as well.  A Professional Business Valuation specialist may benefit you.

3.    Whether it  is part of your exit strategy to sell your business or not, you should have an exit strategy.

  • Most small business owners do not have an exit strategy.
  • If you own a business you should have an exit strategy.  Do some planning, perform some due diligence. Know what you have or may have.
  • Even if you are not planning to sell your business there is value in knowing  approximate value of this potentially large asset.  You know what your house is worth, you car, your other assets. Understanding the value of your business can be a significant piece of information when planning ahead.

Selling ones business can be a rewarding experience when done properly.  Understanding  a proper value for your business can set the stage to a successful sale of your business or a business that is unable to find a willing and able buyer.

More than One Reason to Start or Buy a Business

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How many times do you go to a cocktail party or just hang out with friends and hear things such as “I got this great idea for this new business”, or “Ive got this great idea for this new invention”, or  “If I were the boss and owned this business that I am working at, I would ______________.”   Words are said, heads nod, cocktail parties end and friends go home and nothing happens.

But for some the entrepreneur spirit rises to a greater height than just words, and they are able to turn those words into action.   What is the difference between those at the weekend cocktail party talking about it and the person that wakes up Monday morning and actually pursues it?  Very often, the inspiration to turn words into actions lie in the reasons why one want to pursue this path.  What are the reasons some turn those casual interest into action?

Buy A Business

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As a business broker I have many discussions with individuals that want to buy a business.  The process of buying a business or starting a business both are filled with trepidation, concern, excitement and pursuing of yet to realize results.  One of my functions in working with individuals in the process of buying a business starts with a  simple question – WHY?   Why do you want to buy a business? or in some cases   Why do you want to start a business?   There is a big difference between the person that talks about buying a business or starting a business and one that actually follows through on those aspirations.  And the reason why one wants to start or buy a business can be very different as well.

The below list is certainly not complete but explores some of the reasons one takes the next step.

Why Do You want to Buy a Business or Why do you want to Start a Business?

1. Sometimes its not just about the money, someone has a passion for a field or effort and just wants to immerse self into that field.

2. Others, want to turn filthy rich. Some studies will speak to the high percentage of individuals that gained significant personal wealth through buying a business or starting a business.

3. Someone may just want to have a job to count on.  If you are the boss (of yourself), Who is going to walk into your office and fire you.  No one.  You have control of your job security.  Maybe this venture will turn into more, but at this point, “I just need steady work”.

4. There is a want to start or buy a new business because a person wants out of existing business due to “burnout”, or fatigue and wants to enter a new venture to re-invigorate and try to re-discover the energy that comes along with an entrepreneurial new start.

5. There may be a compelling wish to pursue a new venture that is genuinely making peoples lives better, and a person has a need to fulfill this want of self- fulfillment.

Real Reason For Starting Your Own Business

People who want to be entrepreneurs cite reasons such as satisfying a self-determination, wanting to set their own hours, wanting to be their own boss, and wanting to test themselves, as reasons for starting a new business. But when we get down to it, most people want to start a business to gain financial freedom. Starting or buying a business in the pursue of financial gain and to provide a comfortable existence for self, family or others is a realistic and well-proven approach.  Starting or Buying a business so one can spend more time with family is both mis-guided and unrealistic.

The reasons one does start a business, or buys a business can vary greatly, and the list is longer than outlined above. But there are only 2 types of entrepreneurs or small businessman when it comes to buying a business or starting a business – Those that Do – And Those that Don’t.

I Want to Buy a Business… I Think

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Starting a business is an exciting and potentially rewarding venture. Buying a business can also be an exciting and rewarding venture. If one wants to be an Entrepreneur or Small Business Owner what route does one take?. Is it best for you to start your own business. Is it best to buy an existing business. Or as in some cases (as in my business career) are you involved with both starting a business and then at some point buying a complimentary business or similar business(s) to add on to the business that you had started.

Buying And Selling A Business – Facts

I am in the business of helping business owners and individuals buy and sell businesses. I interact with both a lot of potential buyers and potential sellers . Understanding the key points below that outline some information regarding the future sale of your business, or if opportunity presents itself buying a business may benefit your situation:

1. ALL business owners are probable future business sellers

We all need some “exit strategy” from our business. Selling ones business for a nice gain is one of the more appealing exits from a business that exist. Prepare in advance for that fact. Also know and understand the value of what may be your largest asset- your business. Even if you are not plannining on selling your business- it makes business sense to know what the value of your largest asset actually Is. On my website www.sellabusinessflorida.com we list 1000’s of businesses for sale. On this site one could locate “like’ businesses and use this information to approximate the value of their own business. But please keep in mind all businesses are different, but this would be a starting point to ballpark valuation.

2. Not all businesses that try to sell actually sell

Homes are bought and sold all the time. Some homes take much longer to sell than others (especially here in the South Florida market). But ultimately most all homes do sell. The same is not the case for all businesses that attempt to sell. The process of selling a business can be a long process, and that process does not always end with an executed contract and or sales agreement .

Buy Or Sell A Business

Photo (c) tampabusinessbroker.com

3. Most people that say they want to buy a business don’t buy a business

Industry statistic regarding this fact vary, but the numbers may be as high as 9 out of 10 peoplethat actively pursue acquiring a business, talk to business owners about selling their business, and engage in some form of due diligence don’t buy a business. The reasons vary and go beyond the scope of this post, but money “surprisingly” is a determining factor in not having a potential business buyer buy a business.

4. If you have started your own business and are looking at ways to boost sales, buying another like business is a very viable growth business concept

Buying A Business Comes In All Shapes And Sizes

Eliminate the thought that buying a business means $100,000- $5,000,000+ deals. It can be as simple as buying an online web store for $200 that is a perfect fit and the additional traffic that it can drive to you is extremely beneficial. – Eliminate the thought that you need to have big piles of cash and the person selling their business is walking away with an all cash deal. MOST businesses sold today involve seller financing. The seller has both a vested interest in your success, and the seller is eliminating the need for you to go to a bank to finance the acquisition of the business. The seller is your bank. The seller understands their business and the likelihood of your success with their business, very often better than a banker would.

If you have started a business and need to “boost sales” and not sure how to gain additional customers or sales, buying a business that may be a competitor or a complimentary product of service can be an effective strategy. If you are thinking of starting a business, and want to “jump start” your effort buying a small business that you can build on and mold into your own is also a very viable strategy.

Thinking of buying a business? Will you be that 1 out of 10 that actually goes forward and makes that goal a reality.

Florida Business For sale Buying a Florida Business

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Below please find reason to visit www.sellabusinessflorida.com when pursuing the acquisition or Sale of a Florida Business

Top Reasons To Buy Or Sell A Business Via  www.sellabusinessflorida.com

1) If you are looking for a business broker or more specifically if you are seeking a business broker in south florida, or a SWFL business broker, or are seeking a business broker in fort myers florida, seeking a business broker in Sanibel Florida, or seeking a business broker in Florida to assist in your sale or burchase of your business.

2) If you want to sell your Florida business now, you are considering selling your Florida

Sell A Business

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business, want to discuss planning to sell your business, or are seeking to sell your business in Southwest Florida. Just call for a FREE consultation

3) If you seek a business opportunity in the fort myers florida area, are interested in merger and acquisition in the naples florida area or seek a business opportunity in Florida. If you seek to oursue a merger in Florida pls contact sellabusinessflorida.com.  We work with business buyers throught the United States and Internationally to assist in finding the right Florida Business to buy just click on this link to view over 1000 Florida Businesses For Sale https://www.sellabusinessflorida.com/
florida_business_search.html

4) If you seek to buy a business in Florida, or are looking to buy a Florida business that is in South west Florida, or wanted to buy a business in NaplesFl, or buy a business in fort myers Florida, or buy a business in Tampa Florida please contact us for more information. The above link allows you to search for the business that is right for your needs and situation. Again, just contact us to arrange a free consultatation regarding how to buy a Florida business.

Please find below a partial List of types of florida Businesses For Sale that we work with:

  • Florida Electrical contracting business for sale
  • Florida Retail Businesses for Sale
  • Florida Restuarants for sale
  • Florida Print Companies for Sale
  • Florida HVAC businesses for Sale
  • Florida Computer Companies for sale