Blog - South Florida Business Broker Russell Cohen

Business Broker Russell Cohen

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Business Broker Russell Cohen Blog

How to find Miami Businesses For Sale Opportunities

Finding Miami businesses for sale can be challenging process that requires diligence and exemplary resources to find the best opportunities available. This means that you must have access to the best information which displays a viable familiarity and area market knowledge.   Miami Business Brokers Business brokers usually know the marketplace well enough so that they know the particulars concerning both buying and selling businesses. They are aware of all of the specific opportunities for sale, including turn-keys, franchises, and other types of opportunities. In addition, the business broker can connect their clients to a great number of other useful resources, such as small business start-up laws and regulatory compliance information. They usually have access to a database that can help find a South Florida and Miami business for sale. Because they also sell businesses, they can also assist with all of the phases of the sales listing to attain the largest possible return on the business investment. Business Sale Process Understanding the Florida business for sale process is crucial for any individual or company planning on selling or buying a business. Being aware of what is involved prevents costly and unpleasant surprises and disappointments – most of which can easily be avoided. The business valuation process is an important aspect of acquiring or selling businesses. For example: •Using credible and accurate business records or P & L’s is essential, since this usually minimizes taxes, and which represents the biggest component reflecting actual Florida business for sale worth.   •Refraining from relying upon opinions of accountants and attorneys to determine business value. They are not professional business appraisers, nor do they... read more

Miami Business Broker Explains How to Qualify a Business Buyer

For many business owners, the economic climate, or your own personal reasons can deem it time to sell your company. Regardless of the underlying reasons, it is an entirely reasonable expectation that you reap the rewards of the time, money and sweat invested in your start-up, by getting at least full market value for your business. The decision to sell should immediately be followed up by the realization that you in all likelihood will require a business broker, in order to effectively – as well as efficiently – navigate the many pitfalls inherent in the sale of a business, where the goal of the other side is almost always to get what they can, for as little as they can. Miami Business Broker Expertise A Miami business broker has a range of applicable experiences and knowledge when it comes to the hectic scene of Florida-based business sales, acquisitions and mergers. One of the more important considerations starts at the very beginning, before your business is even put up for sale: how much is it worth to potential buyers, in the current economic marketplace. Frankly, your business may either not be worth what you think it should be, and trying to sell it for that much can easily extend the time it is for sale indefinitely. A business broker is intimately aware of techniques that would allow her to gauge the value of your business to the demographic of people likely to buy it, which has the added bonus of finding customers during the process of valuation. Furthermore, during the process of selling your business, the other aspects of your... read more

Selling A Business in South Florida – How a Business Broker Can Help You

In the world of business there is always a way to move forward. Part of growing a business is having the potential of selling it off at a later date, but selling a business can sometimes be a difficult task. Business brokers can cut through the confusion and help a small business owner garner the best possible price for their business.   Business brokers traditionally help sellers of a business by setting the pricing. With knowledge of the business landscape business brokers can set the going price for the business. They also keep the business confidential, list the business for sale with multiple sales listing services, collect and manage the necessary paperwork and advertise the business for sale.  Aside from that business brokers are available to answer any questions from sellers which take the pressure off the business owner during the selling process. South Florida Business For Sale Business Brokers offer business sellers their expertise and knowledge of business selling. While an owner may know how to run their business they are in new territory when dealing with selling a business. Brokers take out all of the guess work, but that guess work comes at a price. Would-be sellers are required to sign a contract with a broker. The broker is given a percentage of the sale proceeds as payment for their services.  The fee can be anywhere from 5%-12% depending on the brokerage used and how much work the brokerage puts into selling the business. In order to determine if business brokers are a good course of action for your business it is important to consider whether or... read more

How Business Brokers Help Sell Your Business in South Florida

Selling your business may seem like a daunting task as there are many crucial factors to consider. The biggest factor would be getting the maximized price for your business and as little problems as possible. Business brokers have extensive experience in these types of sales and would be a good first step. Business brokers who only represent you, the business owner, is important. The broker will have your best interests in mind. Check what kind of fees are involved and if it’s up-front as opposed to fees based on the sale price upon closing. These brokers have the contacts to market your business to many prospects, so paying the fees may be well worth it, than going it alone. There are pitfalls in finding the right place to advertise your business for a quick and fair priced sale. Much money can be wasted advertising in the wrong places. Brokers have done all this legwork already. One of the biggest areas for caution when selling a business is qualifying the buyer. If you decide to sell your business on your own and a buyer approaches you, you have to determine if they have the means to actually buy your business. Wasting time with buyers who cannot close the sale means missed opportunities with qualified buyers. Part of business brokers responsibilities are to fully qualify all buyers before you are even involved with them. This saves valuable time and money. An exit strategy when you are selling your business is an important component of the process. It is advisable to plan this well in advance. There are various exit strategies based... read more

Marketing Your South Florida Business For Sale

As you consider selling your business, many thoughts are undoubtedly bouncing around in your head.  What is my business worth?  What’s the process of selling it?  How long will it take?  What am I going to do with myself after the sale?  Where are the best business brokers?  The first step in selling your business, one you may have worked the better years of your life building, is to make the decision to sell.  If you’re certain that selling your business is what you want, begin by being well prepared.  Get all of your financial records in order.  Buyers are certainly going to scrutinize them carefully.  Make that first impression count.  Business brokers will tell you that this is a hugely important component to having a well-marketed business for sale.  Have all the balance sheets, profit and loss statements, tax records, bank statements and other financial records well organized, and be prepared to produce custom reports for potential buyers.  Next, create your “blind profile.”  This is typically a single page description of your business without any specific information that might reveal its name.  This item should bullet point the best aspects of your business, it’s profitability, and potential for growth.  A more complete and highly detailed description of your business will be made available to serious buyers.  Usually business brokers will aid a seller through this process. Now that your business financials are highly organized and you have a stunning blind profile along with a comprehensive selling memorandum, it’s time to actually advertise.  Coordinate efforts with business brokers and get the word out.  The internet is probably quickest and... read more

Importance of Terms When Buying or Selling A Business in South Florida

There are many factors to consider when buying a business or selling a business in South Florida. If you are a sole proprietor (an individual who is the sole owner of a business that is neither a partnership nor a company) can decide to close whenever you please. If you are a business with a partnership, limited liability company (a company whose owners and managers enjoy limited liability and some tax benefits, but avoid restrictions associated with S corporation), or a corporation you and your partners have to dissolve the entity according to your articles of organization. If you are a Limited Liability Company or corporation and fail to legally dissolve your part you will be liable for taxes and filings. If your business is operating as a sole proprietorship or partnership you may not be required to do this, but it is still a good idea. To protect your reputation and finances, it is best that you cancel all of your licenses and permits that you will no longer need. A professional business broker can help you with the entire process. Make sure that all final paychecks are paid to employees by their last day of work. The Worker Adjustment and Retraining Notification Act protects workers, their families, and communities and requires employers with 100 or more employees provide at least 69 calendar days advance written notice of your closing. If you have employees, you must obligate your payroll tax responsibility or you will risk personal liability. Inform the federal tax agencies that you are closing you business and you will cease to file unemployment returns and an employer’s... read more

How Long Does It Take to Sell Your Business in South Florida?

When you’re looking to try to sell your business, there are several things you should consider. It’s not as though you can just sell your business overnight; there are myriad things you should consider. Of course when the urge strikes you though you should come armed with the answers to these questions to see if the act of trying to sell your business is even worth it. Business Demand One of the first things which you should have direct access to is what is the demand for your business; right now.  How much money have you been making over recent fiscal quarters? How much of a demand is there for your product or service in the marketplace? How integral are your skill sets to keeping the business running? All things which you should know before you undertake the task of trying to sell your business and a professional business broker can help you with them. Physical Assets This is another thing you need to understand; what are your physical assets related back to the business? How much of them are you selling? Are you selling the space where your business takes place? Do you even own the space yet? Answering these questions will help you understand the type of buyer you need to have your eyes on and the level of involvement from the business buyer which will be needed. Name Your Price One of the central questions which you as the seller of your business should be aware of is what is your business factually worth? Taking into account all the assets, liabilities, product on hand, product on... read more

Transworld Business Advisors names its Top Deal Maker and RC Cup recipient for 2010

Fort Lauderdale, FL – November 29, 2011 – For Immediate Release Transworld Business Advisors has announced Russell Cohen, Managing Director as its Top Deal Maker companywide and recipient of the RC Cup Award for 2010. At a company gathering on January 14th in Boca Raton, Cohen was presented the RC Cup Award that is annually presented to the firm’s associate whom completed the most deals. The award was presented by Andrew Cagnetta, CEO of Transworld Business Advisors. “Russell has raised the bar the number of deals completed by an agent in the industry year after year. The RC cup will forever be something that Russell inspired” stated Cagnetta. This is Cohen’s 6th consecutive RC award. Cohen, a ten year veteran of the industry, specializes in the sale of small to mid-sized, privately held businesses though Florida and the US.  About Transworld Business Advisors Transworld Business Advisors is the premier business brokerage firm in Florida and now a worldwide franchisor. Established in 1979, the company is headquartered in Fort Lauderdale, FL. with over 30 offices throughout the USA. The company specializes in a wide range of industries including manufacturing, distribution, service, technology, and retail businesses. Currently, the company boasts a staff of 100 agents and more than 1500 business listings, making it one of the largest brokerage firms in the... read more

Selling a Business? A Delay Could Cost You

Thinking of selling your business? Uncle Sam is offering a big incentive to act fast. As in, by the end of this year. The capital gains tax rate is set to jump from 15 to 20 percent on January 1, 2011. Surprisingly, many owners are unaware of these potential tax increases, and just as many don’t know how it could affect them. Upon the transfer of a business, the owner is faced with a tax bill based on the consideration received. The tax rates applied to the proceeds depend on how the purchase price is allocated amongst a variety of asset classes. The two most common tax rates are ordinary income and long-term capital gains. And with the top ordinary income rates at least double long-term capital gains, sellers are particularly interested in having a majority of the proceeds treated as the latter. In the sale of a business, the portion of the purchase price allocated between these tax rates is driven by what the parties can negotiate, as well as the tax code. Currently, the largest source of Treasury revenues comes from individual income and employment taxes. Our mounting federal deficit all but assures that increases to the long-term capital gains tax will happen. In fact, most accountants and wealth mangers have been advising their clients to consider accelerating any tax liabilities, as we may never see today’s tax rates again. “[Another] compelling reason to consider selling a business this year, assuming one is otherwise motivated, is the likelihood that not only are capital gains rising, but ordinary income tax rates will likely be rising in the future,” states Jeff... read more

Highest Number of Businesses Sold in Florida 2009

FORT LAUDERDALE, Florida, April 15 2010 PRNewswire Russell Cohen, Senior Sales Agent with Transworld Business Brokers, LLC, has been announced as the top deal-maker in 2009 by the Business Brokers of Florida (BBF) an association of Business Brokers in the state. Mr. Cohen finished the year with 30 completed sales. In the past ten years, Mr. Cohen has orchestrated over $45 million in business transactions and sold over 350 businesses, more than any other agent in the state. His practical expertise can be found in almost every industry from retail locations to distributors and in businesses of any size, from mom-and-pop to multi-million-dollar corporations. “We are proud to be able to call Russell a member of our team. His colleagues and clients alike had complimented his persistence in providing clients with viable business solutions that best fit their needs,” said Andrew Cagnetta, President, Transworld Business Brokers. Mr. Cohen has been honored as the recipient of numerous awards including the “Most Closed Transactions at Transworld” consecutively from 2000-2009. Mr. Cohen was recognized by the South Florida Business Journal as a “2004 Heavy Hitter in Finance.” Mr. Cohen is very involved in the local business community and local networking groups. As a part of the Transworld team, the industry leader in sales, Mr. Cohen has the experience and resources to network with thousands of buyers and sellers throughout the country to maximize a business’s exposure and value. Buyer and seller resources including a current list of available businesses can be found at http://www.sflabusinesses4sale.com. Prior to working with Transworld, Mr. Cohen was a top sales producer at two Fortune 500 companies, Lanier... read more
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PROUDLY PARTNERED WITH
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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