Blog - South Florida Business Broker Russell Cohen

Business Broker Russell Cohen


Business Broker Russell Cohen Blog

How To Search Business For Sale In Miami ? Miami Business Brokers

It’s no secret, when you’re selling a business; a business broker comes in handy. They’ll stand alongside you during the actual sale, and they’ll work their hardest, to get you the best possible price. Plus, when you’re selling a company, many precautions are taken.   There are also precautions you must take when deciding on Miami business brokers. For example, watch out for experience and reputation. Analyzing these aspects of the broker will tell you how effective they are. Also, find out which area the broker specializes in. Certain brokerage firms specialize in just one area of transaction, so you need to choose one which fits your specific needs. Finally, it helps to see their client list. Their client list will give you a better idea of how many buyers you can expect. This way, you’ll truly get the best possible price. Selling Your Business Is “Not Your Business”   The precautions you must take, during the sale of your company, are summed up in a list of three rules. One, always make a good first impression, with any possible buyer. Making a good first impression is the difference between a good price and a bad one. Second, correct facts and figures make all the difference. When you present the buyer with current facts and figures, they’ll be more inclined to buy from you. Finally, do everything in your power to form a connection with the buyer. This is because you want the buyer to feel they can trust you.   In addition to these golden rules, find out if your business is saleable and how the appraising process... read more

Buying and Selling Businesses in Miami – Miami Business Brokers

When looking to buy a business or sell a business you need to talk to Miami business brokers.  Buying or selling a business is a time consuming and complicated process.  It will be in your best interests to hire a broker. This is far more complex and important than buying a car or even a house you will need the help of professionals. Selling A Business in Miami When using a business broker to sell a business you remain free to do what you should be doing.  Which is, running your business as if  you are not selling it.  Keeping the business profitable during the marketing and sale procedures will make selling the business easier for the broker.  Leave the process of marketing, and actually selling, to your broker.  The broker will then be able to market your business in a quiet and professional manner and begin screening potential buyers.  As they work with the potential buyers the brokers will be able to educate them about your business and its selling points.  As things progress Miami business brokers will negotiate the best price, for you, with the buyers.  The broker also acts as a buffer between you and the buyers, insulating you from the stressful highs and lows that can come in any transaction of this nature.   Buying A Business In Miami When you are buying a business going to a a business broker has many of the same benefits as when selling.  The broker will have already vetted the business, can quickly educate you on all aspects of the business, help you negotiate a fair price and act as... read more

Business Brokers Minimize Your Risk When Buying Or Selling Your Business – Palm Beach Business Broker

In the world of business nothing can more exciting than buying a business  or selling a business. Purchasing a business in Palm Beach has enticing profit potential for anyone looking for the opportunity to become an entrepreneur or simply knowing when to sell the business. Buying A Business in Palm Beach Seeking to acquire a Palm Beach business for sale takes the skill and business connections of a good business broker, in order to expedite matters quickly and with due diligence. Having a business plan for either expanding an already successful company or acquiring a company that shows signs of growth and profit potential is what a entrepreneur should look for when shopping for a business. When shopping around for a Palm Beach business is in your advantage to use a Palm Beach business broker who will compile the necessary reports on the finances of a potential company to buy or gathers information on the overall performance of the company is what you should do as a business owner. Selling Your Business in Palm Beach For some people the idea of continuing to grow a business or brand with or without an heir does not inspire them to continue to develop their business. That’s when one decides to sell the business and either create another business venture or simply take the money and move on. When it comes to a Palm Beach business for sale, there are a few factors to consider. The value of the company, location, can the business be diversified, how much debt or profit the company has generated and is it worth selling the business. If the answer is “yes” to... read more

Benefits Of Using A Business Broker When Selling Your Business – Palm Beach Business Broker

The selling of a business is an extremely complex process. Most business owners do not have the necessary time or understanding to relate to the process of selling their own business. This is why businesses turn to business brokers. Brokers help market the business, find buyers, educate them and negotiate the sale. There are a number of ways that business brokers are beneficial for helping businesses sell their business. First off, business brokers help screen prospects. Good brokers know how to find the serious prospects. It is imperative to screen prospects. Brokers won’t earn much of a profit without dealing with serious buyers. Brokers help protect confidentiality. A business broker can present your business to prospective buyers without them knowing which business it really is. They can discuss the fundamentals of the business without giving away the name. A good broker keeps a thorough record of every prospective buyer. Palm Beach Business Broker Business Brokers should have all appropriate forms, such as a confidentiality agreement. This should help save businesses money in legal fees. Also, an experienced business broker can help a business if they lack experience. Every business is different. Because of that, there are hundreds of factors that impact the value of the business. Brokers have access to business transaction databases that are used as reference points. They have the ability to market your company so that it will reach the maximum sales price. Arguably the biggest benefit of business brokers is that they allow people to continue running their businesses. Selling a business is a lengthy process. If an owner devotes too much time to this... read more

Hire A Business Broker When Selling A Business – Palm Beach Businesses For Sale

Selling a business is a complicated and an intricate procedure. However, business brokers play a fundamental role in getting along the process to make it a successful deal. There are several factors and cautions involved that should to be considered before stepping out to sell your business. Finding the exact potential buyer and to avoid scams you need to hire a business broker. Brokers are professionals at introducing the buyers and sellers and support in finding the middle ground. The business broker will confidentially work upon the marketing process to sell your business, the word is kept private as it affects adversely on your sales and stimulate staff problems. Unsatisfactory preparation is a key error that  business owners commit. Important matters such as financial documentation, the profit and loss sheet, insurance or lease issues and legal concerns have to be well prepared as it will have an impact on the market worth of your business. You can be an expert in running your business but not at selling it and your reluctance to leverage the business brokers can be destructive. As countless matters can only be looked after by your business brokers such as selling it at the best possible value, projecting your establishment’s future, market it at its highest potential, finalizing the necessary paperwork and catching the eye of secure qualified buyers. The productivity and  successful running of your business can be affected if you neglect it and spent time on selling it. The efficiency and the performance of your business is what you really sell which makes it compulsory to concentrate on it. Sellers mostly fix the... read more

Facts to Finding the Right Business Broker – Palm Beach Business Brokers

Business world is environment of constant change and flow and it is predicted 40% of all business will transfer ownership in next 10 years. It is not important, why you decided to sell yours. You may feel you reached its maximum without large investment, maybe you achieved your personal victory and now you just want to share fruits of your labor in relaxed business-free life. But what does truly matter is how you will get most out of it. Selling a business is not a task to be taken lightly. It is a complex process that takes time and money and a lot of patience. It is not accounting or legal matter, to leave it to your personal solicitor or accountant. Selling a business in Palm Beach or in any other place is an art of good business brokers, such as Russel Cohen, licensed broker for Murphy Business Brokers. Those can help you and guide you through all crucial steps. Timing Selling A Business In average a sale of small or medium business takes place in 9-18 months. The timing of the sale is crucial and it depends on many factors which can easily be neglected. Trap: Contracting wrong partner can lead to costly and time consuming result. Same can result from hiring broker promising fast sale. Establish Clear Exit Objective – Prepare Your Business For Sale The best business brokers can help you with full preparation for sale. Checking your financial records, preparing Sales memorandum and marketing your business is just a part of their job description. Trap: Do not put too much history in memorandum. First goal... read more

The Importance of Intangible Assets When Selling a Business – Palm Beach Business For Sale

You’ve spent a lifetime building up your business. Whether you have always planned to move on or are selling your business due to the continuing pressures exerted by the many recent economic downturns, you will be looking to achieve the greatest profit attainable for your efforts. That is why it is so important that the sale be handled correctly. The good will that you have established over the years with customers, employees, suppliers, creditors and neighbors is something that is not easy to put a price on. The owner of a business is usually one of the last persons that should be considered to handle the sale of it. For the often rough and tumble negotiations likely to ensue in the business marketplace require the utmost objectivity. Because you are probably too close to it to make an effective, unbiased presentation. You are likely to be too emotionally involved in ‘your baby’ to maintain the needed distance during the many details of the sales process. There is just too much riding on the outcome of the sale to allow yourself to fall into a do it yourself mentality. While such approaches have their place, not when it comes to your livelihood. Hiring the best is the best way to achieve your desired results. That is why a record number of businesses have made the smart choice of securing the services of local business brokers to handle all of the many details that make up selling their business. Business brokers like have already amassed all of the specialized know-how through years of local experience.  You have more important things... read more

Miami Business Broker Explains The Process Of Selling Your Business Step by Step

Anyone selling a business should be considering the elements of the sales process.  Business brokers are invaluable in each of these considerations: Think It Through – Know What You Want Do you want to retire completely or continue to have a hand or profit in the business?  Do you want to move or stay where you live?  Surprisingly, some people are not clear on these basic aims.  Business brokers can help you refine these goals and the ways to achieve them. Know What You Are Offering and Why You Are Selling Is the business growing or declining?  Is the competition getting tougher?  Are the facilities and equipment in good working order or are they approaching the end of their useful commercial lives.  Does the business need an infusion of capital to be profitable?  Are most of your customers there just because of you (goodwill)?  Are you tired of the ratrace or are you ready to embrace a new chapter in life?  Professional business brokers know how to express each of these circumstances to your greatest benefit. Prepare Your Records – Orderly and Understandable      If you are trying to sell your business, you have a duty to provide honest information to your potential buyer.  You make the job of your business brokers (and the sale of your business) easier if your financials, net worth statements, contracts, employment procedures, etc. are organized in such a way that the reviewer can discern clear information without having to conduct overly consuming research.  Your professional may choose to reorganize your information (truthfully, of course) to your greatest benefit.  Easily discernible records vastly assist... read more

Multiple Offers Should Help to Maximize Business Selling Price – Fort Lauderdale Business Brokers

When you’re ready to sell your Florida business it’s never a good idea to do this yourself. You will forget important elements! Using Fort Lauderdale business brokers can save you time, money and headaches. First off, you need to ask yourself how educated you are on confidentiality agreements, the due diligence process, business valuation methods and whether you should sell, stocks, assets, liabilities or the entire package. If you plan on selling your business name, logo and other intellectual property such as signage or your telephone number do you know how to value intellectual property? More Offers Are Better Do you know how to capture buyers who are interested in your for-sale business? Essentially, the more offers you have, the better chance you have of selling your business. This is why it’s so important to seek out Fort Lauderdale business brokers who understand how to interview and select buyers who are really interested, not just those who are curious or want to gain an upper hand. Interviewing and Selecting The biggest advantage you’ll gain from hiring a Fort Lauderdale business broker is their experience and ability to weed out the curious and the non-desirable. Believe it or not, you may even fall into the trap of the non-experienced business broker! These are the types that will only utilize your desire to sell the business for their own gain. They do this by offering promises that are outrageous such as a selling price more than your business is even worth. They may also talk you into releasing financial information with fast-talking promises to make you feel confident they are well-qualified... read more

Think Like A Buyer When Selling Your Business – Palm Beach Business Brokers

When you’re hoping to sell your business there are a number of things to be concerned about. There are a few ways you can get a step-up on your buyer and anticipate their moves before they have thought them up themselves. If you want to swim with the piranhas you’re going to have to nip a few toes; if you want to sell your business, you’re going to need to think like your buyer. Understand what the buyer is after – One of human beings greatest faults and one of the things which every business seller can be at fault of is being too rooted in your own self-interest. If you would take yourself out of the equation for a moment, you’ll likely find that your deal is skewed towards your own interests; at least in your own mind. Think about what the buyer is after; what could make this deal impossible for them to say no to? If all business sellers would simply take a minute and put themselves in their buyers shoes they may find that the work is done for them. The schematics of the deal will fall into place effortlessly if you let them. Be Upfront when selling your business– You would hate to be trying to hide something negative about your business; be it the structure of the building, last year’s receipts, inflated accounting or anything else; only for this to be revealed later on and to be bitten by it down the road. Rather than fight that fight, be upfront. Not only does this tactic save time on the vetting; then the buyer... read more
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M & A Source • International Business Brokers Association (IBBA) • Business Brokers of Florida • FICPA • Better Business Bureau *Boca Raton Chamber of Commerce * Davie/Cooper City Chamber of Commerce * Society of Commercial Realtors* Independent Insurance Agents of Broward County* Network Professionals - South Florida Networking Group* 6 Degrees of Golf