September 25, 2023
September 18, 2023
Understanding the E-2 Visa program
The “E-2 Investment Visa” program is little understood and there are many misconceptions. In the following article I attempt to clarify what this program is and how we as business brokers are uniquely qualified to offer assistance. The E-2 visa is an investment based nonimmigrant visa, which allows citizens of certain Countries to live and work in the USA by...
July 31, 2023
What Not To Do – When Buying a Business
High Pricing Perceptions Some businesses may be overpriced. However, quickly judging an appropriately or even aggressively priced business as overpriced will signal to the Broker that you do not have serious intent. In fact, serious buyers seldom overtly express such views, even when they feel a business is overpriced. Refusal to Share Information If you are interested in a business,...
July 25, 2023
12 Frequently Asked Questions When Selling Your Business.
What does a business broker do? A business broker is a professional who assists in the buying and selling of businesses. We help business owners accurately value their business, identify potential buyers, oversee negotiations, and guide the business through the transaction process. We function as a buffer between the buyer and the seller, facilitating communication and ensuring the transaction goes...
May 15, 2023
Mistakes to avoid when buying a business:
The 5 most common mistakes buyers make when buying a business Not Seeking Professional Help: One of the biggest mistakes buyers make is not seeking professional help. Buying a business is a complex process that involves many legal, financial, and operational aspects. A business broker can guide you through this process, help you find businesses that match your interests and...
May 1, 2023
When Insider Business Deals Go South:
When Insider Business Deals Go South: The Challenges of Selling to Employees or Family Members Introduction As a business broker, I’ve seen countless small business owners looking to sell their businesses to employees or family members, and understandably so. These inside buyers often possess a deep understanding of the business, its processes, and its culture. However, the majority of these...
April 26, 2023
Tax Implications of Selling a Business
As a Business Broker, I am often asked by business owners about the tax consequences of selling a business. I will usually refer them to their CPA or tax professional. However, because this is something I often deal with, I have written the following article. My goal is to help owners better understand the tax implications of selling a small...
April 13, 2023
Should you sell your Business or wait?
Owning a business can be a fulfilling and lucrative endeavor, but at some point, every business owner will face the decision of whether or not to sell their company. From a financial perspective, selling a business may not always make sense, as the potential for continued profits could outweigh the immediate payout. Businesses are typically valued using multiples of earnings....April 10, 2023
Advice for Young Business Owners
Here are a few pieces of advice that may be helpful for new business owners: Start with a solid business plan: Before starting your business, take the time to create a comprehensive business plan. This will help you identify your target market, competition, financial projections, and other key details that will be essential for the success of your business. Focus...
April 5, 2023
The 9 Key Traits of Successful Entrepreneurs
Passion and drive: Successful entrepreneurs are passionate about their work and have a burning desire to achieve their goals. They have a strong work ethic and are willing to put in the time and effort required to make their vision a reality. Resilience: Entrepreneurship can be a challenging and unpredictable journey, and successful entrepreneurs must be able to bounce back...
March 27, 2023
Selling Your Business – Documents you will need
What Documents Will Prospective Buyers Want to See When selling your business, it is best to prepare in advance for the documentation a buyer is likely to require during due diligence. The list below is a good guide but is not intended to be fully inclusive. No two deals are the same but you can use this as a starting...
March 14, 2023
Ten Attributes of an Entrepreneur
The key attributes of a successful entrepreneur include: Passion: Successful entrepreneurs have a burning passion for what they do. They believe in their idea and are willing to work tirelessly to make it a reality. Resilience: Entrepreneurship is a journey full of ups and downs, and successful entrepreneurs have the resilience to bounce back from failures, setbacks, and challenges. Vision:...
March 13, 2023
Restaurant Industry Best Days Yet to Come?
The restaurant industry was significantly impacted by the COVID-19 pandemic, with many restaurants closing their doors temporarily or permanently due to government mandates, reduced demand, and financial strain. However, as life has largely returned to normal, the industry has seen a significant rebound. According to the National Restaurant Association, restaurant sales hit an impressive $95.5 billion in January of 2023....
February 9, 2023
The one question you should never ask the seller of a business.
Over my sixteen years in the Business Brokerage Industry I have sat in on many buyer/seller meetings. The initial meeting between parties is often what determines if a deal will happen or not. I watch carefully to see the chemistry between buyer and seller. If both parties are comfortable and at ease with each other there is a good chance...
January 24, 2023
We Are Hiring
Position: Business Broker Quorum Business Advisors- Florida Job Description Your major responsibilities will include: •Developing and securing new “business for sale” listings through networking, direct marketing and calling on business owners using a consultative selling approach •Preparing business valuations, financial recasting and marketing packages for your listings •Qualifying, developing and coaching new business buyers •Handling transaction management: working with...
January 5, 2023
Will 2023 be the Year you sell your Business
January is a time of the year when people consider making big changes in their life. For some this means joining a gym. For others the decision that this New Year will be the one when they retire from work. For small business owners the added complication is the need to find someone to take over their Company. This is...
December 16, 2022
The five worst mistakes you can make as a business owner
As a Business Broker I have analyzed hundreds of small businesses and these are the five most common mistakes I see their owners make. You are the business Being too involved in the mundane work of the business is a common mistake of the small business owners. A Restaurant owner washing dishes or flipping burgers. A convenience store owner behind...
December 15, 2022
Kitchen and Bath Contractor – Under Contract
From listed to under contract in less than eight weeks. We had two of our listings go under contract in the same day. We are running low on inventory and need more businesses to sell. If you would like to explore selling your business, contact us at Quorum Business Advisors today. Our initial consultation is free and always confidential....December 15, 2022
Property Management Business – Under Contract
Property Management Company From listed to under contract in less than six weeks. Agreed price above list price and to close in 30 days. If you would like to explore selling your business, contact us at Quorum Business Advisors today. Our initial consultation is free and always confidential. Our inventory is low and we have more buyers than listings. ...
September 29, 2022
Selling your Business – Should you tell your employees
While many business owners feel the urge to be “honest” with their employees, especially the key ones. This is often a misguided impulse. Telling your employees early in the process only creates unnecessary anxiety for them. Even worse it can cause them to panic and seek other employment. Losing key employees prior to the closing of the deal can cause...July 21, 2022
How much is your Business worth?
For small business owners their business can be their most valuable asset. When it comes time to move on or retire selling the business can provide them with the financial means to do so. But what is a business worth? Well, there are lots of ways to determine that. As a business broker my main interest is in determining what...July 20, 2022
Working Capital and the Sale of a Business
The simple definition of Working Capital is Current Assets – Current Liabilities. But in real world application it is much tricker and is frequently the source of heated disagreement between buyers and sellers. Working capital is used to fund operations and meet short-term obligations. If a company has enough working capital, it can continue to pay its employees and suppliers...
July 12, 2022
Ten Steps to Buying a Business
Step 1 Before you begin to look for a business take some time to do a serious inventory of your skills, aptitudes and qualifications. Determine how much you have available to invest. Whether or not you will be seeking financing (either SBA or seller) and what your timeline is. Identifying your preferred industries, price range etc. will help you narrow...
July 1, 2022
Jacksonville Best Place to Live
Jacksonville has emerged as one of the fastest growing cities in the country. In fact, Forbes magazine recently cited Jacksonville as the #2 most popular city to move to. Jacksonville has been featured on a list of the best places to live! The U.S. News & World Report published “The 25 Best Places to Live in the U.S. in 2021-2022″...
June 28, 2022
Understanding Seller Discretionary Earnings (SDE)
Seller Discretionary Earnings (SDE) is also sometimes called the “Owners Benefit” and the terms can be used interchangeably. This is a key metric when it comes to valuing, buying and selling small. In this article I discuss how SDE is calculated. When net income or cash flow is calculated we use the Adjusted Net (Owner Benefit) figure. This is the net profit...