February 2, 2016
September 23, 2015
Recommendation Payroll Service
If you are looking for a small business payroll solution I recommend Zen Payroll. I started using them this year and I have been very pleased. Easy to use and extremely affordable. Try it today for Free. https://zenpayroll.com/r/VVhXD Anthony John Rigney PA...
August 27, 2015
Sharp Rise in Business Sales
Business Sales Taking Off Our internal numbers for the State of Florida show that small to mid-sized business sales have increased sharply over the last two years. Sales are up 37% from two years ago. Even more impressive – the dollar volume of businesses sold. This has increased by an astonishing 359%. Not only are more businesses selling but they...
June 11, 2015
Understanding Lease Assignment
One of the most overlooked issues when selling or buying a business is the Lease Assignment. Since most businesses rent their real estate the Landlords consent is necessary before a change of ownership can proceed. It is best to be well prepared for this process. Lease assignments can take anywhere from days to months. The bigger the Landlord typically the...
April 7, 2015
Should you make a lowball offer?
When buying a business is it a good idea to make a lowball offer? This is a critical question for many buyers. How should you frame your initial approach – a fair offer or start out low? People will make a low offer for a number of reasons. They don’t know what to pay – Many times buyers are...
December 28, 2014
Buy a Business In 2015
Let me help you make your dreams come true in 2015. As one of Florida’s top Business Brokers I can help you find the right business. There are five things you should know about my services. One Broker As a member of the Business Brokers of Florida I cooperated with over 1,100 active business brokers in this State. That means that...
December 23, 2014
Buying the perfect business
Buying the perfect business. How do you find the perfect business to buy? Well I admit this title was a little misleading. In fact the simple answer is that there are no perfect businesses. Just like the people who create them businesses are imperfect. There are buyers who have spent many years looking for the perfect business. They become confused...November 13, 2014
Buy a Business or Launch a Startup?
Is it better to buy an existing business or launch a startup? The answer may depend on your goals. However In general it is better to buy a business than to start one from scratch. The reasons are varied. First of all buyers often underestimate the true cost of establishing a business. Let’s take a simple retail business for example....October 20, 2014
The Instant Entrepreneur
Have you dreamed of being your own boss? Do you wish you were the one making the big bucks and calling the shots instead of toiling away in cubicle hell? Maybe you have considered becoming an entrepreneur but figured it is too risky or that it will take too long to get a new business off the ground. Well there...
October 10, 2014
Days on market not a factor when buying a business
In residential real estate a key factor in the perceived value of a piece of property is “days on market” – sometimes abbreviated as DOM. In Business Brokerage DOM is not a major factor. In fact, in Florida our MLS does not even track how many days a particular business has been listed. Here is why. Say you have a...
October 7, 2014
Reasons to sell your business
It is important for a business owner to be able to communicate the reason they want to sell. This is something buyers need to know. There are three good reasons to sell a business. Retirement – you have built your business, you are happy with its value and have no one to leave it to. Personal matters –...
September 23, 2014
Business Broker as a career
In Florida an agent who assists buyers or sellers in the sale of a business is referred to as a “Business Intermediary”. While we are often colloquially referred to as Business Brokers – in fact it is only the principal licensed Broker in the agency who is a Business Broker. Agents working under the Broker are properly referred to...
September 18, 2014
How much is my business worth?
There are many factors that determine the value of a business. But the actual value is what a buyer is willing to pay and a seller is willing to accept. The main reason a buyer will want to buy your business is the amount of owner benefit they can expect to derive from it. Owner benefit can be realized...
September 6, 2014
5 Hottest Selling Businesses in Florida
Five hottest selling businesses in the State of Florida in 2013 1. Medical 2. Manufacturing 3. Construction 4. Distribution 5. Insurance Based on data provided by the Business Brokers of Florida (BBF). Not a reflection of the total number of businesses sold. This ranking is based on the ratio of businesses sold to businesses listed in each respective category. Anthony...August 30, 2014
8 reasons your business won’t sell
8 reasons your business won’t sell – and what you can do about it. Licensing Difficulty If you are in a business that involves hard to get licenses and/or agency approval (such as the medical field) this can be problematic for a buyer. Solution: You may be able to transition instead to a stock sale and alleviate the need...
August 30, 2014
Why location does not matter
In Real Estate they say Location, Location, Location! Meaning that location is everything. But in business brokerage we do not concern ourselves much with location. We judge businesses primarily by their financial performance. A profitable business in a bad area is more valuable than a money losing business in a hip part of town. This is because the effects of...
August 22, 2014
Top Selling Businesses
Ten top selling businesses in Florida. Ranked by category from highest number of sales to lowest. 1. Restaurants (Full Service, Fast Food & Take Out) 2. Beauty/Personal Care (Salons, Day Spas, Tanning, Barber Shop etc. 3. Real Estate (Property Management, Brokerages etc.) 4. Liquor (Bars, Nightclubs & Package Stores) 5. Cleaning (Clothing) (Dry Cleaners & Coin Laundries) 6. Lawn/Landscaping Service...August 19, 2014
Ten Tips for Business Buyers
Risky Business There is risk as well as reward in being a business owner. If you are the risk averse then business ownership may not be for you. Before you even begin to look for a business, decide if you are willing to accept the higher level of risk involved in entrepreneurship. Know your strengths Determine the type of...
August 12, 2014
Buying a Franchise – what they won’t tell you
Isaac Singer whose name became synonymous with the sewing machine began one of the first franchises in the United States 160 years ago. By 2007 the Census Bureau was reporting that 10.5% of the businesses with employees were franchises. This model of entrepreneurship has become increasingly popular. One reason is that it offers “easy” access into the world of...
August 11, 2014
Buying a Gas Station – things you should know
The first thing to know when buying a gas station is that you are unlikely to get rich selling gas. In an urban area the typical margin per gallon of gas is 6-9 cents per gallon. In many cases credit card fees will wipe out any profit on gasoline sales. This is why it is becoming more common for...
August 1, 2014
The importance of confidentiality – when selling your business
When business owners first approach me about selling their business – often their greatest concern is Confidentiality. The worry is that employees, vendors, competitors and customers may learn that the business is for sale. I will deal with each concern separately. Employees: Employees may become concerned about job stability. This can lead to key employees seeking work elsewhere. Employee moral...
July 29, 2014
Latest Listings from Quorum Business Advisors, LLC
Business for Sale Listings from Quorum Business Advisors, LLC Please click on the link below to see a list of our latest listings in Northeast Florida Latest Listings Anthony John Rigney ...July 27, 2014
How to determine the value of goodwill
Goodwill is the value of a business above the fair market value of its tangible assets. It is an “intangible” value meaning that it cannot be directly measured. We can measure the total value of a business in a number of ways. Main street business brokers typically use a multiple of earnings approach with relies on market data to put...
July 21, 2014
Buying a Restaurant – things to know
So you are considering buying a Restaurant. Before you do so there are some things you should know. Watch Your Margins Experienced restaurant owners know that one of the keys to success is controlling costs. Restaurants run on tight margins and if costs are not controlled it is impossible to make a profit. Here is a general guide for the...July 20, 2014
Selecting a Business Broker
Selecting a Business Broker When the time comes to sell your business you will be best served by finding a qualified professional to assist you. You should seek out an experienced Business Broker. Business Brokers specialize in selling businesses. Be careful, Realtors and Commercial agents are generally not experienced in the sale of a business enterprise. Most realize this...
July 9, 2014
Launch of New Facebook Page
Quorum Business Advisors, LLC has just launched a new Facebook page. Please visit us at the link below and of course like our page but only if you like it. https://www.facebook.com/jacksonvillebusinessbroker Quorum Business Advisors, LLC ...
July 8, 2014
Tips for Selling your Business
I am often asked by business owners “when should I start preparing to sell my business”. The startling answer is from the first moment you own it. The day you open the doors on your business is the day you should begin planning your exit strategy. Here are eleven tips for selling your business. Profitability – It may seem redundant...
July 7, 2014
Multiple of Earnings – Business Valuation Method
In an earlier post I dealt with EBITDA a formula for determining the earnings of a business. Once we have determined the EBITDA or true cash flow of a business the next step to determining its value is to apply a Multiple of Earnings. We can find this value in a number of places. A first stop would be to...
July 6, 2014
Pricing a Business – the role of EBITDA
When engaged in pricing a business for sale we are concerned with two important numbers. EBITDA (Earnings before Interest, Tax, Depreciation, and Amortization). This figure represents the real cash flow of the business. We also will obtain a factor to multiply the EBITDA by in order to estimate the correct price range. This factor is call a “Multiple of Earnings”...July 1, 2014
Launch of 904broker.com
Anthony John Rigney PA is proud to announce the launch of his new website at www.904broker.com This new website was designed with the assistance of Mayo Media. Please visit our site where you can learn about the process of buying a business or selling a business. We also have a Multiple Listing Service with the ability to search over 4,000...
June 27, 2014
Buying and Selling a Business – Documentation
Years ago, when a business was bought or sold in Florida, the paperwork associated with the transaction was anything but standard. To compound potential problems, brokers were unlicensed and unregulated. Consequently, when papers were passed across the table for signature, a buyer or seller may have had concerns about potential “gotcha’s” lurking in the forms. Sometimes, those concerns were valid....
June 27, 2014
Is your business ready to sell?
In addition to the items mentioned in the previous posts, e.g., job descriptions, financial reports, etc., Quorum Business Advisors believes there are several other key factors that will help sell your business. Here are some key questions to ask regarding the saleability of your business: 1. Has the business grown over the past year? Two years? Three years? Growth...
June 27, 2014
Ten Commandments for Business Buyers
I. Thou Shall Not Be Greedy! Sellers deserve a fair price for the years they have spent developing the business. Be prepared to pay for the goodwill of the business. II. Thou Shall Have A Good Reason For Buying! Buying a business is hard work! It takes commitment! Spend time deciding why you want the responsibility of owning...
June 27, 2014
How Much is My Business Worth?
Every business owner wants to know the answer to this question. How much is my business worth? The issue is how to arrive at an accurate amount that will provide your business with the best chance of being sold at the best price. Our definition is based on reality: The business is worth what someone is willing to pay...
June 26, 2014
What to expect during Due Diligence
One of the first things a prospective buyer sees is the Business Listing Information sheet, or BLI. The BLI provides the buyer a wealth of data on the business of interest. The business owner has certified all data on the BLI is correct and supported by financial documents, leases, and other pertinent information. At this point in time, a buyer...
June 26, 2014
Buy a business vs. Start up. Which is right for you?
Whether you are looking at working for yourself or investing in a new and exciting business venture, all of the choices can make it confusing. Although start-ups may be exciting and relatively inexpensive at first, there are a lot of unknown factors and launching a new business takes incredible effort and time to build momentum. With an existing business, someone...