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Sunbelt Business Brokers has successfully sold businesses in the Automotive, Construction, business services, chemicals, clothing, communications, educational, entertainment, financial, food, beauty, medical, furniture, internet, manufacturing, personal services, professional services, retail, technology, transportation, distribution, and investment property industries among others.
Sunbelt Business Brokers has successfully brokered business sales ranging from $50,000 to multi-million dollar businesses.
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Sunbelt Business Brokers does not charge buyer fees. All of our fees are paid by the seller; however you will have to pay some closing costs, just as when you purchase real estate, but those are generally shared equally between buyer and seller.
Finding the right business broker
When selecting a business broker, find one you like and trust. Make sure they are licensed. In Florida, business brokers must have a Florida real estate license. Check out their website. Was it easy to find? Was it easy to use? Does it project a professional image? Sometimes the broker’s website is the most efficient way to look over a large number of businesses for sale. A good broker should be able to expose you to a large number of businesses for sale. Look over their resume; look at their education and previous experience. Ask how many businesses they have sold. Ask the broker for references and call those references. Ask the broker to what professional organizations does he/she belong? Meet them in their office! Is the office a professional environment backed with all of the necessary marketing and sales resources? Did they educate you on the buying process? Ask if the owner spends 100% of their time managing and supporting the brokers or is he/she just another competing broker.
Build a relationship with just one agent
Many times finding the right business is a result of being in the right place at the right time. Some of the best businesses for sale never become available to the general public or by the time they become public knowledge another buyer already has an offer in the works. Why, because business brokers have close working relationships with many buyers and consequently, those buyers are the first to hear about new businesses. Therefore, if you want to hear about new businesses first, concentrate on building a working relationship with just one broker. Remember, they can sell you a business offered by their brokerage and most of the time any business offered for sale by most other brokerages.
Your agent should be accessible once you agree to let him/her assist you in buying a business?
The lines of communication should always be open. Your business broker is acting in your best interests and should be available for consultation as required. It is reasonable to expect that your broker will return messages or emails promptly and that you will be given regular updates.
How much of a down payment do you think I will need and can I acquire financing?
The down payment is usually equal to the discretionary earnings of the business. The balance of the financing can come from either an SBA guaranteed bank loan or from the seller of the business.
Financing
Business brokers can skillfully negotiate financing and formulate with you a financial plan that works. Due to banks’ reluctance to finance small businesses, many business purchases are financed by the current owners. This demonstrates their confidence in the continued success of their business. Financing a business purchase through an owner rather than a bank often brings a lower interest rate, lower payment plan, simple credit checks, using the business as collateral for the loan and greater owner commitment to your success. Sunbelt brokers know how to make financing terms work in your favor, quickly and easily.
Through Sunbelt’s collaboration with US Government approved institutions, we can take steps to pre-qualify prospective buyers for financing as soon as an inquiry is initiated.
What information do you need from me?
We need to have you fill out a confidentiality agreement, a buyer profile and an agency disclosure. Please contact us to obtain these documents.
Confidentiality
Unlike the sale of real estate or franchises, the sale of an on-going business is very confidential for both the seller and the prospective buyer. All inquiries are held in strict confidence. Meetings and information shared or observed are to be held in strict confidence. To ensure confidentiality for all parties, Sunbelt brokers require a confidentiality agreement to be signed.
In return for granting you, the prospective buyer access to the operations of the sellers business and otherwise private information, you promise to use the information for the sole purpose of evaluating the benefits and risks of purchasing the seller’s business in strict confidence.
Buying Fundamentals
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