Selling a Business Archives - South Florida Business Broker Russell Cohen

Business Broker Russell Cohen

South Florida Landmark Bagel Restaurant Sold in Record Time to New Local Owners

South Florida Landmark Bagel Restaurant Sold in Record Time to New Local Owners

In the crowded restaurant business where success is more rare than failure, a landmark bagel restaurant with more than 40 years of success was just sold by Business Broker, Russell Cohen. Russell Cohen is an expert in the area of buying and selling businesses with his track record as an award-winning Business Broker. He has sold more than 400 businesses in Florida over the past decade and 10 business transactions closed in the first quarter of 2016. I asked Russell Cohen about what made this transaction and business sale so media-worthy. Russell explained that this was a business sale that was very fast. It was a textbook sale of a business : The entire process was completed from listing to closing within 60 days. The buyer was an experienced business person with food-industry experience from New York. In fact as Russell described some of the buyer’s background it was in the bagel wholesale business which means that he really understood the products he was going to be selling. When I asked about factors that lead to a very effective and short business sales transaction period, Russell told me that the business being sold had a long , positive business track record. The business was in a position to prove that it was profitable. When a person wants to invest money and time in a business the intention is that they are going to do so because they want results. “If a person buys a business for cash, the intention and expectation is that the business will pay for itself and be self-sufficient within two to two-and-a-half- years of the...

Looking For A New Business? Florida Business For Sale

Starting a new business requires an extensive development of ideas with difficulties in building new customer connections, forming of new sales and marketing strategies, hiring employees and establishing a stable cash flow churned up by lack of recent sales record, business performance history and popularity to dynamic customers.  That is why some people in florida prefer to buying a business rather than start their own. However, selling a business is another different thing, with the Seller factor. When selling one, the owner will have to undertake a series of procedures, a plan on how to execute the sales process and to familiarize the potential buyer with what the existing business entails. First, a prospective buyer will need information on current trading history, products range (where applicable) customers, supplies and sales records like balance sheets and cash flow history. The seller has to look out before giving out this information since not all buyers are potential buyers-some are tourists. Otherwise, they might end up leaking word that the business is on sale which might cause the business a not-so-good reputation. Thus, a confidentiality plan has to ensue. This is of importance to the buyer too. Confidentiality is a key viewpoint in florida business for sale, acquisition or merging. Customers, suppliers and employees need to be kept out of the selling plan at early stages until the buyer and seller come in terms. When dealing with several buyers, it is clever to let them not know each other lest you might appear anxious to sell your business which may cause defranchisation. That is even if you are anxious! Of course, some...

Selling Your Retail Business in South Florida – Business Broker South Florida

Looking for a business, needing to sell your business that is a question business owners are asking all across America. South Florida is a great place to have a business, the cultural diversity, the entertainment just fantastic. However sometimes you are looking to sell your retail business and need a business broker, or someone who knows the market. There are some things to note when you are considering selling your retail business. One of the things you should establish is a checklist for what your goals are in selling your business.Some of the goals to consider is when you would like to sell your business, will you go through business brokers to sell your retail business. Additionally, how much would you like to sell your business for and what is the market for your type of business. It may sound like a great deal to look at but establishing a plan with a business broker, reviewing your options is a starting point in accomplishing your business goals. Depending on your location in South Florida, the type of retail business, and your business broker you should be able to define your plan and put it into action. Also consider when you would like to have your business sold and  what is happening in the real estate market.  It is best you have achievable strategies in place, therefore if the market is not right when you want to sell your business, your broker can give you some advice on other options. Also if the type of retail business you are selling in South Florida is new , not well known in the community you can restructure your goals, let other business owners know you...

Is Liquidation the Best Way to Sell Your Business? Palm Beach Business Broker

When selling a business there is much to be considered before deciding on the method of sale. The first thing to do is to have a valuation of the business by an independent Certified Public Accountant that specializes in valuations. This will give you a clear picture of the value of the business. From there it can be determined if the business should be sold as a whole or if it should be liquidated by selling the assets off separately. To sell your business is a hard decision in the first place, because so much hard work has gone into building it. But with liquidation the owner should realize the business will cease to exist and the employees will no longer have a place to work. Employees may be due salaries, severance, leave balances and more. All of these costs may make voluntary liquidation a nonviable option. It is always wise to use a business broker to assist you in cases like this. Assets are often seen by the owner as more valuable than they really are. A careful valuation of assets is needed to determine the actual market value. This will allow for a sound decision as to the best way to sell your business. In a voluntary liquidation, payments to creditors must be considered, there must be enough money to pay creditors or you will be left with debt after the liquidation. If the liquidation is part of a bankruptcy the court will payout the proceeds to the creditors in accordance with the bankruptcy plan and then the remaining debts will be discharged. Liquidation is usually a last resort...

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...

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...
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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