Find A Florida Business Broker to Help Sell My Business

Locating the Right Business Broker in Florida

Finding the right business broker in Florida to help sell your business is not an easy task. It may even seem overwhelming for the uninitiated business seller who only has experience in dealing with residential real estate agents.  The business broker in Florida that you choose should be a licensed professional with experience and knowledge of business sales. Some business sellers have spent most of their life in building up their business, and deserve nothing less than the best from their business broker in Florida.

 Ensuring the Business Broker is Properly Licensed in Florida

  • The first step to find the right business broker in Florida is to check with the Florida Department of Business and Professional Regulations online in order to view the broker’s current license.
  • One may go to the online portal and review the individual’s license and the company’s license of the purported business broker.
  • This will allow the user to see the current licenses and whether there has been any disciplinary action taken against the individual broker or the broker’s company.
  • Some people also get confused as to the license (if any) that is needed in Florida in order to sell businesses.
  • Simply stated, business brokers who sell businesses in Florida must have valid real estate licenses in the same form and manner that other realtors have real estate licenses when selling commercial or residential property.

View the Florida Business Broker’s Current Listings for Sale

Any reputable business broker in Florida will have a website that describes themselves and what businesses they have currently listed. This is a tremendous resource for any seller that is shopping around trying to find the right business broker to list their business.¬† Amazingly enough, many Florida business brokers do not list their own current listings in their website. Instead they simply refer the viewer to a link with a repository for all the generic blind business listings in Florida (similar to the Multiple Listing Service). This does the seller seeking to find the right business broker in Florida a great disservice because the viewer can not see the business broker’s actual current listings. Any reputable business broker will have their own current listings in their website, and should have at least a dozen current listings if they are a full time business broker.

The Florida Business Broker’s Listings Should be Confidentially Advertised and Professionally Written

Viewing the current listings will allow one to see whether (and how) the business broker is advertising the business confidentially without publicly disclosing the name of the business or the specific location of the business. Additionally, the listings should not have any pictures that enables the viewer to determine what business is actually being sold. Moreover, one may discern much from the abilities of the business broker by reading the content of their business listings. If the advertisements are replete with typos, incoherent, or otherwise not professionally written and well explained, then the business broker will probably not be a good fit to sell your business.

Receive A Free Business Evaluation from Business Brokers in Florida

The only true way to gauge the experience and knowledge of a business broker in Florida is to sit down and talk with him or her about your business. The purpose of this discussion – or business evaluation – is to determine the best asking price for your business. There should be no charge for this discussion to take place, as a trustworthy business broker only expects to get paid if there is a successful sale of the business. The meeting should also occur in a confidential setting and conducted confidentially so that the seller is free to discuss the business without fear of any adverse consequences.

Ask the Business Broker If They Have Sold Businesses Like Yours in Florida

During the free business evaluation, the business broker should explain how exactly they determined the suggested asking price for your business. The business broker in Florida should be able to refer you to previously sold businesses similar to yours as a starting point as to the value of your own business. Further, the business broker in Florida should also anticipate many questions and issues that a prospective purchaser of your business will have.

Example: Selling A Healthcare Business in Florida

  • Let us assume that Jack is selling his home healthcare business in Florida and is searching for the right Florida business broker.
  • Eventually Jack sets up multiple business evaluation meetings with multiple business brokers.
  • Rather than simply picking the business broker who tells Jack the highest suggested asking price for his home healthcare company, Jack should also pay close attention to how exactly the business broker arrived at their suggested asking price.
  • Coherent logic, data based on industry experience, and an explanation of the methodology employed must be discussed in order for Jack to understand if the asking price makes sense.
  • Moreover, Jack should be on the lookout for the business broker who – during the course of the business evaluation – shows knowledge of the home healthcare industry by discussing the complicated and lengthy licensure transfer process that inevitably occurs when selling healthcare companies in Florida.
  • If the other business brokers do not mention this critical issue, then it is unlikely that they will anticipate how the licensing issue may adversely affect the transaction if it is not known and addressed ahead of time.
  • It also demonstrates a lack of experience in selling home healthcare companies.

Finding the right Florida Business Broker may be easier said than done as it does involve some legwork and research on the part of the business seller. In the end, it is well worth the time spent in order to protect your business and receive the best purchase price possible.

Give Martin at Five Star Business Brokers of Palm Beach County a call today for a FREE evaluation of your business.