SIMPLE YET VERY IMPORTANT PROCESS FOR SELLERS
We set up a meeting via telephone conferencing, Zoom conferencing, or in person with all COVID-19 Safety measures in place
We can meet for coffee or at your place of business. We will discuss your future goals regarding an exit strategy. Is it feasible for you to sell your business in this Pandemic environment? Is now or later the right time to sell? What about family members? What are the options for your unique business?
Purchase and Sale Agreements
We find the perfect match for your business; we make sure they understand the value and the potential value of your business. I make sure they are the right fit, financially and professionally. They must sign a detailed Non-Disclosure Agreement before they know much about your business. Then the fun begins. We PROFESSIONALLY negotiate to get you the absolute highest and best price for your business. We do this based on our years of negotiating every conceivable business with every conceivable character, with every conceivable outcome.
Determine your business value
Do you know how much your business is worth? Do you really know? In this new social and political environment, you may be surprised at what your business is worth. We know the value because we are selling businesses full time, every day, and every night, without stopping from 2008 to this pandemic. We have a database of what other businesses such as yours have sold for and when. We know the details. If sold by a GOOD BROKER, on average, businesses sell for 20 to 30% more than if the owner goes it alone.
Closing the transaction
We try to use the same Attorney for all closings to get the best rates for our Clients. There are so many tiny details, it is mind boggling, especially in today’s world of lawsuits, repercussions, and regulations. The closing will be seamless with our teams in place. Included but not limited to CPA’s, Lenders, SBA Affiliates, Retirement Fund Counselors, Hedge fund Attorneys, Fixers and more. In other words, we have the experience and support to get creative and innovative on all levels of business sales transactions or Mergers.
Preparing Marketing Package for the Perfect Buyer
Do you really want to deal with everyone who thinks it would be fun to “own your business?” And pay you $1 down and $1 a week?
This Third Step is what separates the laypersons (and inexperienced Brokers) from the professionals. This is where we go deep into our network and peers (40 years’ worth) to find the perfect MATCH. WE will know who the Suitor is and how much they are worth before they know you are for sale. Think about the most perfect Matchmaker you could ever imagine and then think about him or her coming right to your door, ready to tie the knot.
You are off to live your dream
In Montana or the Bahamas or wherever your heart wants you to go. We do the very hard work, we respond quickly and accurately to market shifts, we make your business look awesome, and other than helping me with the financials of your business, you are done.
Let us start planning now! It will cost you nothing…. And you just might get some peace of mind for a change.
Two years ago, who would have thought a pandemic could ruin thousands of businesses, killed people and ruined so many lives? Who knew our Capitol Building would be attacked by angry people? Who knew how divided we have become. Life is too short to look back and say, “I wish I had sold my business sooner, or worse
I wish I had talked to someone before shutting it down.” Call me; 904-874-1059 I get it, I have been in your shoes, and sometimes wonderful thing happen working together.
ESSENTIAL BUSINESSES THAT ARE SELLING
- Grocery stores
- Medical offices
- Big box stores
- Convenience stores
- Mail and shipping businesses
- Hardware and home supply stores
- Pet supply stores
- Gas stations
- Home service professionals (like plumbers, electricians, and HVAC techs)
- Bike stores, golf cart stores, outdoor recreation
- Landscaping and Lawn Maintenance
- Tree Companies
- Trucking Companies
- Heavy Hauling
- Construction Companies
- Multi – Family (Apartments, blocks of residential rental homes)
Confidentiality is, perhaps, the most critical issue for a business broker. Virtually every business seller does not want his employees, customers or vendors to know that his business is for sale. Transworld is very cognizant of this fact and in every step that we take we emphasize confidentiality.
There is a great deal of variation in the time frame, but, if we had to pick an average time, eight to nine months may be close. While this may sound like a long time, all of the facets of selling a company, including listing the business, finding buyers, interviewing buyers, writing contracts, due diligence and finally the closing process are all time consuming. That is not to say businesses have not closed in 30 days. Some do.
Transfer of the lease is crucial to the success of the transaction. It will be almost impossible to consummate a deal unless the lease can be transferred. Leases will have a clause that defines the landlord’s rights regarding transfer. Frequently the seller will be required to remain as a guarantor of the lease and often there may be a charge by the landlord for the transfer. Most leases are assumable but the Landlord must okay the new buyer.
This is a difficult one, it is very, very difficult to prove to a prospective buyer that you have earned income that has not been reported. The only suggestion here is if you are not reporting income stop right now and maintain accurate records including all income. There are some businesses that do sell in spite of this fact.
Transworld has no upfront fees. We will analyze your company and go through the entire process with no cost to you. Your only obligation is when we find a buyer for your business. We traditionally receive our payment at closing.
The analysis of your business’ value or worth is another crucial function of the business intermediary. “The Market” makes the final determination of value. At Transworld, we have tremendous experience in valuing almost any business. Our estimates of value are not “certified business valuations” although we can provide this service for a fee. However, our experience and volume of comparable businesses allows us to give the business owner a very good estimate of value.
This can be handled in many ways. Often the property is sold as a separate listing. However, the company owner will frequently retain the property, obtain a long term lease and earn an ongoing cash flow stream. Also, the property can aid a buyer’s ability to finance the business.
Most small businesses are sold with the seller retaining cash and accounts receivable. A working level of inventory is generally granted to the new owner.
Most often, the company is sold free of all debt. This means that the former owner will be responsible for accounts payable as well as all long-term debt.
The lack of good business records is the single most common reason for a business sales deal to fall apart. We can’t emphasize enough the importance of maintaining good books and records before selling. This includes accurate financial statements, cash register receipts or whatever records are necessary to prove income and expenses. Of course, current tax returns are a must. We can and do sell businesses that may have less than adequate records, but the better the record keeping the higher the sales price of the business.
We have a list of the ten most important things that you can do to improve your business before selling, and you can review them on our website.
Today, no later. Even if you think you are not ready to sell your company right now you can’t start preparing too early. One of our experienced agents will be more than happy to meet with you to help you to start thinking about your exit strategy.
Buying or selling a company can be a complicated venture. While some companies are sold without the help of accountants and attorneys, we strongly recommend that both the buyer and seller engage professionals.
SOME SOLD BUSINESSES
Transworld and Julie Brigman sell many businesses a year. You can view a sample of our recently sold “Good Deals for Good People” in the list below. From Main Street to Middle Market to large acquisitions, we can handle it.
Here are some SOLD businesses! And many were in 2020 during the Covid pandemic.
Well-established Private Duty Homecare Agency
- Location:Duval County, Florida
- Listing Price$175,000.00
- Down Payment: $175,000.00
- Category:Medical Related Biz
Award Winning Go Green Sustainability Advisor Franchise
- Location:Palm Beach County, Florida
- Listing Price$575,000.00
- Down Payment: $575,000.00
- Category:New Franchises
Lakeland Coin Laundry with Land Building and Income Suites
- Location:Polk County, Florida
- Listing Price$364,000.00
- Down Payment: $225,000.00
Highly Profitable Site Preparation Company
- Location:Orange County, Florida
- Listing Price$14,000,000.00
- Down Payment: $14,000,000.00
28-Year-Old Art Consulting Business & Gallery
- Location:Broward County, Florida
- Listing Price$250,000.00
- Down Payment: $250,000.00
- Location:Orange County, Florida
- Listing Price$550,000.00
- Down Payment: $350,000.00